Skytree, an early-stage climate tech developer transforming carbon dioxide (CO2) 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 Skytree team pictured at the GreenTech
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 CO2 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 a circular supply of CO2, enables these facilities to boost crop yields up to 20-30% higher than traditional farming methods.
“We are the first climate tech company supporting food security through the deployment of DAC technology, enabling businesses to transition away from fossil fuel-based CO2 supply,” said Rob van Straten, CEO of Skytree. “Not only can we provide a cleaner source of CO2 for greenhouses that use it for their farms, but our onsite solutions also enable increased productivity in farms that currently cannot access or don’t use CO2.”
Steven van Nieuwenhuijzen, CEO of Horticoop, said, “Controlled environment agriculture faces a complex challenge with the energy transition that should lead to a reduction of CO2 emissions. To achieve a climate-neutral horticulture sector without natural gas, the CO2 required for cultivation must come from sources other than gas. We see Skytree as a company full of potential, able to make direct air capture a success with promising technology.”
“With its expanded global presence and impending availability of new DAC technology, Skytree is well-positioned to assume a leadership role among Carbon Capture and Utilization solution providers,” said Daan Wilms van Kersbergen, Investment Director of Yield Lab Europe. “We are impressed by Skytree’s potential to decrease the use of fossil CO2 in CEA, and beyond agriculture, the applications for Skytree’s technology are numerous. We look forward to supporting the team through the company’s next phase of growth.”
For more information:
Skytree
www.skytree.eu