New York, USA-based provider of carbon utilization technology, Sustainable Aviation Fuel (SAF) production and advanced carbon emissions-derived fuels and materials, Dimensional Energy raised USD 20 million in funding. The round took place on December 12, 2023. Envisioning Partners, a prominent Korea-based impact venture capital fund led the financing for the company. Meanwhile, United Airlines’ Sustainable Flight Fund, Microsoft’s Climate Innovation Fund, RockCreek Group’s Smart Aviation Futures fund, DSC Investment, Delek US, New York Ventures, and Climate Tech Circle joined in the funding. Existing investors such as New Climate Ventures, Elemental Excelerator, Chloe Capital, and Launch New York, among others, also joined in the financing.
Purpose of financing for Dimensional Energy
With the latest first, the company seeks to position itself for significant growth. They have plans to rapidly achieve commercial scale. Meanwhile, Dimensional Energy has plans to expand its portfolio of high-value, financially attractive projects.
What the company’s official has to add
Dimensional Energy CEO Jason Salfi said, “As a technology company, we work with third parties to verify our performance, carbon intensity, and full life cycle analysis. The same needs to be true when it comes to other environmental and social equity claims. B Corporation status provides a framework for companies to continually improve positive impact for all stakeholders while maintaining exceptional financial performance.”
What the investors have to comment
Founder & CEO of Elemental Excelerator Dawn Lippert said, “Earlier this summer, we made a strategic investment of development capital into Dimensional Energy because we saw the potential of their upstate NY project to deliver replicable decarbonization technology while engaging the local community in workforce expansion. We are delighted that this catalytic investment, which we coupled with development support services as well as customized community engagement coaching, has proven a successful bridge to Dimensional’s next growth spurt. With the close of this round, Dimensional Energy is poised for significant growth and impact.”
In addition, United Airlines Ventures Managing Director Andrew Chang said, “Dimensional Energy has made remarkable progress since our initial investment and 300 million gallon offtake agreement last year, including the launch of its Tucson Technology Center pilot plant. There’s no question that building the SAF industry from the ground up will take time and capital, but innovative companies like Dimensional are leading the transition to a more sustainable future. That’s why we have made a second investment and plan to continue to support Dimensional’s efforts to scale its operation to help create the SAF that our airline needs.”
In addition, Justin Heyman, Managing Director at RockCreek and leader of the Smart Aviation Futures team, said, “Dimensional Energy particularly stood out to us for their differentiated technology, exceptional team, and significant progress to date towards producing SAF and other industrial products from CO2. This technology can significantly reduce the environmental footprint of the airline industry.”
About Dimensional Energy
Clayton D. Poppe, David Erickson, Jason Salfi, and Tobias Hanrath are the founders of the company. Dimensional Energy is a global leader in carbon-to-value technology.
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