Welcome!

News Feed Item

Newlight Raises $9.2 Million in Series C Financing Round to Expand AirCarbon Commercialization

Newlight to expand the commercial-scale production of AirCarbon using patented greenhouse gas-to-plastic technology

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. 

ABOUT NEWLIGHT

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

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often un...
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and containers together help companies achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of Dev...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
In the first article of this three-part series on hybrid cloud security, we discussed the Shared Responsibility Model and examined how the most common attack strategies persist, are amplified, or are mitigated as assets move from data centers to the cloud. Today, we’ll look at some of the unique security challenges that are introduced by public cloud environments. While cloud computing delivers many operational, cost-saving and security benefits, it takes place in a public, shared and on-demand ...
In his session at @ThingsExpo, Sudarshan Krishnamurthi, a Senior Manager, Business Strategy, at Cisco Systems, will discuss how IT and operational technology (OT) work together, as opposed to being in separate siloes as once was traditional. Attendees will learn how to fully leverage the power of IoT in their organization by bringing the two sides together and bridging the communication gap. He will also look at what good leadership must entail in order to accomplish this, and how IT managers ca...
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, will discuss how to use Kubernetes to setup a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace....