Danish startup Again has successfully raised $43 million in a recent funding round led by Google Ventures and Berlin-based HV Capital, pushing its total funding to nearly $100 million. This new investment supports the company’s innovative approach to utilizing waste CO₂, hydrogen, and specialized bacteria to produce commercial-grade chemicals.
Founded in 2021, Again emerged from over a decade of research conducted by Dr. Torbjørn Jensen and Professor Alex Nielsen at the Danish Technical University, Stanford, and MIT, with former German early-stage investor Max Kufner rounding out the founding team.
Based in Copenhagen, the startup focuses on converting CO₂ into acetate, a key ingredient used in a wide range of products from plastics to cosmetics.
The company remains secretive about the specific bacteria used in its process but is confident in its potential. Again claims its CO₂ fermenter technology can reduce greenhouse gas emissions from chemical production by up to 80%. This positions Again as a significant player in the quest to decarbonize industrial processes.
Given that the petrochemical industry accounts for 4% of global greenhouse gas emissions, Again’s technology has the potential to make a substantial environmental impact. Additionally, the company asserts that its products are cost-competitive with those derived from fossil fuels, offering both economic and ecological benefits.
Currently, Again operates a plant in Denmark capable of converting up to one tonne of CO₂ into acetate daily. With the new funding, the company plans to expand by installing bioreactors across Europe at CO₂ waste sources, aiming to produce acetate and other valuable chemicals while further reducing carbon emissions.
