Published: July 26 • 2023

Dioxycle raises $17m to turn CO₂ emissions into sustainable chemicals

Start-up attracts funding from Breakthrough Energy Ventures, Lowercarbon Capital and Gigascale Capital

Dioxycle, a French-American start-up that transforms CO2 emissions into high-value, sustainable chemicals, has announced today the successful closure of its Series A funding round of 17 million dollars. The raise was co-led by renowned climate tech investors Lowercarbon Capital and Breakthrough Energy Ventures Europe (BEV-E), with participation from Gigascale Capital. This raise propels Dioxycle into an exciting new phase of development towards a first-of-its-kind industrial-emission-busting demonstrator.

Launched in January 2021, Dioxycle is developing a world-first technology to produce sustainable ethylene from recycled carbon emissions at equal or lower costs to fossil equivalents. Effectively, a ‘green discount’, that provides an immediate and built-in competitive advantage, as opposed to the ‘green premium’ that usually hampers the adoption of sustainable products. With a market size of some $180 billion, ethylene is the world’s most consumed organic chemical, used in the production of textiles, plastics, furniture, and construction materials but has a hefty carbon footprint. By removing fossil fuels from the production of ethylene, Dioxycle has the potential to slash CO2 emissions by 800 million tons every year, representing over 2% of the global total.

This is made possible thanks to Dioxycle’s breakthrough low-temperature electrolyzer that generates high-value chemicals from just carbon emissions, water, and renewable electricity. This proprietary electrolyzer relies on a unique integrated approach that combines cost-effective catalytic technologies, proprietary high-efficiency stack design, and advanced process integration schemes. This approach positions Dioxycle to provide the most energy-efficient and cost-efficient means of producing sustainable ethylene and other key commodity chemicals with system design tailored to scale.

By developing the electrolyzer to make a green discount possible, Dioxycle combines decarbonization with profitability and aims to trigger fast adoption even in regions with limited carbon reduction incentives. Having scaled from lab trials to first electrolyser stacks in 2022, the Series A funding will now enable the company to move to first on-site demonstrators and an industrial prototype before preliminary commercialisation within the next five years.
“Our vision is to become the INTEL Inside of the CCUS industry (Carbon Capture, Utilization and Storage), the trusted technology provider empowering chemical manufacturers to reinvent chemical processes based on emission recycling rather than fossil fuel extraction. To reach our climate goals, we must disrupt the processes of incumbents instead of re-building the industry from the ground up. Leveraging existing industrial assets will allow us to scale sustainable technologies at the required speed,” co-founder and CEO, Sarah Lamaison shares.

To achieve such ambitious goals, Dioxycle is seeking to expand its team, currently composed mostly of PhDs from world-leading institutions, in both Europe and the US. The company will focus on hiring profiles with extensive industrial experience in electrolyzer scale-up and process integration towards the first on-site demonstration of Dioxycle’s technology.

To find out more and apply to join the growing Dioxycle team,


Investor Quote

“Global ethylene supply chains face two critical problems: dependence on volatile fossil fuels and highly centralized production. Dioxycle is solving both of those problems at the same time. With a modular process powered by just water, electricity and waste CO2, Dioxycle is uniquely positioned to undercut legacy ethylene production, decentralize supply chains, and capture a $200B market,”

Noted Clea Kolster, PhD, Partner and Head of Science
– Lowercarbon Capital.

About Dioxycle

Positioned as a technology provider, DIOXYCLE aims to offer chemical producers and off-takers with novel ways to produce these commodity products based on emission recycling rather than fossil resource processing.
The two co-founders (Dr. David Wakerley & Dr. Sarah Lamaison) launched the company early 2021 after 5 years of joint research in the field between the University of Cambridge (UK), Collège de France and Stanford (US).

They have received multiple scientific prizes and have been selected as part of the 2021 inaugural cohort of the Breakthrough Energy Fellows program, before raising a seed led by Lowercarbon Capital. Dioxycle’s team is currently composed of 20 researchers (>70% PhD) from world-leading institutions allying chemical, system and process engineering to develop the most energy and cost-efficient electrolysis technology for the production of key chemicals and feedstocks. They first target ethylene, the world’s most consumed organic chemical, widely used for the production of textile fibres, plastics, construction materials and furniture.

Through high performance and advanced process integration, DIOXYCLE’s technology seeks to provide a route towards decarbonized ethylene with no or negative green premium vs. fossil price. www.dioxycle.com