Skytree closes $6M seed round to accelerate growth
Added on 25 July 2023
Skytree, an early-stage climate tech developer transforming carbon dioxide (CO 2 ) supply using ambient air to combat climate change, announced today the close of a $6 million seed round led by Horticoop, a cooperative fund investing in businesses that contribute to the horticultural industry, and Yield Lab Europe, an international Agtech impact VC fund.
The company also announced the appointment of Mark Henderson as global Chief Commercial Officer and President of North America.
The infusion of capital will enable Skytree to capture 10Mt CO2 to utilize or store by 2030,
dramatically increasing adoption rates of its DAC technology. Skytree’s CO2 solutions reduce the
stresses of price volatility and supply chain issues for businesses that rely on CO2 for their day-
to-day operations.
Skytree’s Direct Air Capture (DAC) core technology captures CO2 from ambient air onsite, filters it using a patented process, and stores it in pressurized buffer tanks where it can be accessed and reused by any business in regular need of concentrated CO2.
The company is rolling out its modular DAC technology for a range of Controlled Environment
Agriculture (CEA) businesses, such as greenhouse growers and vertical farms. By providing
onsite CO 2 generation, the technology future-proofs CEA businesses, alleviating procurement
and transport challenges, and delivering clean and affordable CO2.
By developing and deploying smart technology that captures atmospheric carbon dioxide,
Skytree supports CEA organizations in their quest to provide food security for a growing
population while reducing reliance on fossil fuel-based and unstable CO2 supply. The year-round
crop yield achieved through CEA methods, combined with circular supply of CO2, enables these
facilities to boost crop yields up to 20-30% higher than traditional farming methods.
Image by wirestock on Freepik
More news
