Lummus Technology
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Citroniq Chemicals Closes $12 Million Series A Financing
Citroniq Chemicals LLC, a world-scale producer of carbon-negative materials, is pleased to announce the financial closing of $12 Million Series A investment. Our strategic investors were led by a large multi-national energy technology company providing large rotating equipment across oil & gas, energy and industrial customers in over 120 countries, along with a co-investment by Lummus Technology Ventures, and in partnership with the State of Nebraska. This funding will enable Citroniq to further advance the planning, design, and construction of its 1st plant in the State of Nebraska.
Citroniq will be building the world’s largest decarbonization platform that would capture and avoid 2 million metric tons per year of GHG emissions per plant. “We are delighted that our strategic investment partners have embarked on this exciting path with us, championing the decarbonization of the plastics industry which has been traditionally fossil based,” said Mel Badheka, President & Co-Founder of Citroniq.
Resynergi Raises $6.4M in Series B Funding Co-led By Transitions First and Lummus Technology To Scale Plastic Recycling Technology
Resynergi, a pioneering leader in plastic recycling technology, announced it has raised $6.4M in series B funding co-led by Transitions First (T1ST), an international industrial deep tech seed-stage venture capital fund, and Lummus Technology, a global provider of process technologies and value-driven energy solutions. The funding will allow the company to scale production of its modular Continuous Microwave Assisted Pyrolysis (CMAP) technology that converts plastic waste into reusable materials at a rate 20 times faster than traditional pyrolysis methods. The company also plans to expand its executive team to drive growth and further cement the company’s position as a leader in plastic circularity.