BERLIN, Oct. 5, 2021 /PRNewswire/ — Made of Air, the leading carbon negative materials company that turns wood waste into thermoplastics, today announced €5m in seed funding. The round was led by Norwegian sustainability-focused family fund, TD Veen with participation by Patrick Pichette (former CFO of Google and Chairman of the Board of Twitter), EQT Group, Thomas Von Koch (CEO and cofounder of EQT Group), Tuesday Capital, the Co-Founders of Pexip, and Olympic gold medalist skier, Aksel Lund Svindal.
Made of Air’s material is already being used in a range of applications. Recently, Made of Air delivered a large-scale installation of facade panels for Audi’s flagship dealership using material that has permanently captured atmospheric CO2. Made of Air has also partnered with H&M Group to create sunglasses and is currently exploring other projects that integrate Made of Air materials within H&M Group’s supply chain. In addition to Audi and H&M Group, Made of Air has partnered with a major US furniture manufacturer and has several more projects with major global brands slated to launch in the near future.
"Made of Air’s core purpose is to reverse climate change," said Allison Dring, Made of Air’s CEO and Co-Founder. "Negative emissions technologies are urgently needed to reach our global climate targets and I am thrilled to be building this important material. Made of Air has created a technology that leverages the carbon sequestration potential of biochar into a new material resource -effectively turning manufactured goods into carbon sinks. This funding round is a vital step in instituting this technology in manufacturing at scale and a momentous step in our mission."
"We are really impressed by what Allison, Daniel, and the rest of the Made of Air team has accomplished to date and are proud to have led the round," said Kjell Skappel, CEO of TD Veen. "We are convinced that the demand for carbon negative materials will grow substantially in the foreseeable future as industries look to lower their carbon footprint and future proof their supply chains." Patrick Pichette (of Google and Twitter) also commented, "With my personal experience in the forestry industry, it is clear that Made of Air’s potential for impact at scale is immense given the volume of feedstock materials available."
Over the coming months, Made of Air will significantly expand production capabilities by bringing a new factory online, scaling the team with additional hires in R&D, product, and business development, announcing additional partnerships with global brands, and continuing to research and develop carbon negative materials.
About Made of Air
Made of Air is in business to reverse climate change. We are transforming products in mobility, consumer goods and the built environment by producing carbon negative materials for the net zero economy. We take carbon from waste biomass and create durable, thermoplastic compounds that enable products to become carbon sinks, all while replacing fossil plastics and high emissions materials.
Made of Air is proudly partnered with Audi, H&M Group and BMW.
For more information on Made of Air, visit https://www.madeofair.com/
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SOURCE Made of Air