ReCarbon Closes $25M Series B-1 Funding Round from Strategic and Financial Investors

Silicon Valley decarbonization solutions company announces global partnerships with key industry leaders

SANTA CLARA, Calif., January 27, 2022 /PRNewswire/ — ReCarbon, (https://recarboninc.com) the developer of a breakthrough greenhouse gas utilization technology platform, today announces the closing of its Series B-1 funding round. In addition, ReCarbon welcomes two important partners, POSCO, one of the largest steel companies in the world, and GS Holdings Corporation, a Fortune 500 energy and utility company.

ReCarbon (PRNewsfoto/ReCarbon, Inc.)

Founder and CEO of ReCarbon, Dr. Jay Kim said: “We envision ReCarbon as a foundation for global climate-positive decarbonization solutions. We are delighted to close this funding round and enter into important business cooperation agreements with POSCO and GS Holdings. We are accelerating the deployment of our products with our ecosystem partners and the achievement of our mission to restore the Earth.”

“Decarbonizing hard-to-reduce industry sectors is central to our corporate citizenship and ESG goals. We recognize the significant contribution that ReCarbon will play in helping POSCO and other companies achieve these critical sustainability goals for the global industry. We are pleased to enter into this venture capital fund investment of $7 million in ReCarbon, towards far-reaching climate positives.” – Mr. Daeho ShinGroup Head, POSCO Venture Fund Group

“As a strategic investor in ReCarbon, GS Holdings continues its commitment to invest in companies that share the vision of driving future growth through digital and climate-positive technologies. Together with GS, we expect the application of ReCarbon’s excellent technology will produce outstanding results in the future zero-carbon era.” – Sir. Suh Hong HurSenior Executive Vice President, GS Holdings

These key developments underscore ReCarbon’s rapid progress to scale as it continues to grow its network of partners and industry stakeholders.

About ReCarbon: ReCarbon is an energy and chemical company that recycles GHGs into valuable energy and carbon-free products such as hydrogen and syngas.

About POSCO: most competitive steelmaker in the world for 12 consecutive years, POSCO (https://posco.com) continues “Corporate Citizenship: Building a Better Future Together”, including substantive ESG objectives.

About GS Holdings Corporation: The 8thand world’s largest conglomerate based in Korea,GS Holdings (https://gs.co.kr) manages a set of subsidiaries with a leading presence in the energy and fuels sector through GS Energy and GS Caltex.

SOURCE ReCarbon, Inc.

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