|By PR Newswire||
|April 2, 2014 04:06 PM EDT||
IRVINE, Calif., April 2, 2014 /PRNewswire/ -- Newlight Technologies, a company changing the way we think about carbon emissions by using greenhouse gas as a high-value resource to produce cost-effective, carbon-negative AirCarbon plastics, has successfully completed a Series C financing round, raising $9.2 million from both new and existing investors, and bringing the company's total capital raise to $18.8 million.
"Today, over ten years after our founding, Newlight is converting greenhouse gases such as methane into sustainable, carbon-negative plastics at commercial scale, producing a thermoplastic material in AirCarbon that can replace oil-based plastics by matching on performance and significantly out-competing on price," said Mark Herrema, CEO of Newlight. "This funding reinforces the strength of our market position, from our products to our patents to our groundbreaking technology, and will allow Newlight to reach its next phase of commercialization objectives: significantly expanding our commercial production capacity, and moving the company further towards its goal of replacing oil-based plastics with carbon-negative AirCarbon thermoplastics on a global scale."
Newlight has developed a disruptive greenhouse gas conversion technology to convert air and greenhouse gas into high-performance sustainable plastics. Due to the high heat-trapping potential of methane compared to carbon dioxide, the company's primary focus is on sequestering methane-based greenhouse gases, which have over 20 times the heat-trapping impact of carbon dioxide. Newlight is now using the company's patented, award-winning methane-to-PHA bioconversion technology to convert methane (such as biogas) from farms, water treatment plants, and municipal landfills into a high-value PHA-based thermoplastic material called AirCarbon at commercial scale.
AirCarbon is a PHA-based thermoplastic made by pulling carbon out of greenhouse gas to form a long chain thermoplastic molecule that can match the performance of oil-based plastics. Using Newlight's breakthrough microorganism-based 9X biocatalyst, which generates a polymer conversion yield that is over nine times higher than previous methane-to-PHA conversion technologies and fundamentally shifts the cost structure of greenhouse gas to plastic conversion, AirCarbon can significantly out-compete oil-based plastics, such as polypropylene and polyethylene, on price.
In 2013, after ten years of continuous pilot and demonstration scale operations, Newlight scaled up its patented GHG-to-AirCarbon production process to commercial scale at a four-story, multi-million pound per year production facility in California, converting captured methane from an anaerobic digester into carbon-negative AirCarbon thermoplastic. Also in 2013, Newlight unveiled the world's first carbon-negative product made using AirCarbon, launching the AirCarbon chair at the Greenbuild International Conference in Philadelphia.
Newlight is now working with Fortune 500 partners to launch carbon-negative AirCarbon products across a range of market segments, including in automotive, electronics, construction, apparel, and other market segments: products that maintain performance, significantly reduce cost, and reverse the flow of carbon out of the air. Simultaneously, to meet demand for AirCarbon, Newlight is preparing to significantly expand the company's greenhouse gas-to-plastic manufacturing capacity with the commissioning of a 50 million-pound per year production facility over the coming quarters.
Newlight Technologies (www.newlight.com) is a sustainable materials company using a breakthrough microorganism-based biotechnology process to convert air and greenhouse gas into carbon-negative thermoplastics that can replace oil-based plastics at commodity scale.
Founded in 2003, Newlight has invented, patented, and commercialized AirCarbon™, a material made from air and greenhouse gas (such as methane) that can match the performance of oil-based plastics while out-competing on price, representing a market-driven solution to carbon capture. Following critical breakthroughs on process yield and product performance, overcoming classical and longstanding challenges to the microorganism-based conversion of greenhouse gas into PHA-based materials, AirCarbon is currently being used to manufacture furniture, bags, caps, and a variety of other products, with partners including Fortune 500 companies and brand-name market leaders.
In recognition of the company's technological and commercialization achievements, Newlight was named "Most Innovative Company of the Year" in 2013, and AirCarbon was named "Biomaterial of the Year" and "Tech Innovation of the Year" in 2013. Newlight also received a R&D 100 Award for AirCarbon in 2013 as "one of the 100 most technologically significant innovations of the year."
For more information, visit www.newlight.com
SOURCE Newlight Technologies
How will your company move to the cloud while ensuring a solid security posture? Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is ...
May. 28, 2016 12:00 PM EDT Reads: 516
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
May. 28, 2016 11:15 AM EDT Reads: 1,197
SYS-CON Events announced today the How to Create Angular 2 Clients for the Cloud Workshop, being held June 7, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified. Now it’s a component-based well-performing framework. The immersive one-day workshop led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and...
May. 28, 2016 11:00 AM EDT Reads: 4,041
In his session at 18th Cloud Expo, Andrew Cole, Director of Solutions Engineering at Peak 10, will discuss how the newest technology advances are reducing the cost and complexity of traditional business continuity and disaster recovery solutions. Attendees will: Learn why having a full disaster recovery strategy is more important now than ever before Explore the key drivers of a successful disaster recovery solution Achieve measurable operational and business value from a disaster recovery ...
May. 28, 2016 11:00 AM EDT Reads: 1,406
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...
May. 28, 2016 10:45 AM EDT Reads: 1,612
SYS-CON Events announced today that Hanu Software will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Leveraging best-in-class people, processes, and technologies, Hanu provides high-quality, high-value software development and business process outsourcing services to independent software vendors (ISVs) and enterprises.
May. 28, 2016 10:30 AM EDT Reads: 1,377
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
May. 28, 2016 10:00 AM EDT Reads: 516
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
May. 28, 2016 09:45 AM EDT Reads: 2,252
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
May. 28, 2016 09:45 AM EDT Reads: 593
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
May. 28, 2016 09:15 AM EDT Reads: 1,178
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
May. 28, 2016 09:00 AM EDT Reads: 2,420
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
May. 28, 2016 08:45 AM EDT Reads: 1,970
In the rush to compete in the digital age, a successful digital transformation is essential, but many organizations are setting themselves up for failure. There’s a common misconception that the process is just about technology, but it’s not. It’s about your business. It shouldn’t be treated as an isolated IT project; it should be driven by business needs with the committed involvement of a range of stakeholders.
May. 28, 2016 08:00 AM EDT Reads: 2,555
SYS-CON Events announced today that MobiDev will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobile software company with over 200 develope...
May. 28, 2016 07:15 AM EDT Reads: 2,655
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
May. 28, 2016 06:00 AM EDT Reads: 2,243