Circe Announces $5M Seed Round and Pilot Plant

On September 12, 2024, Circe, a Boston-based carbon-negative manufacturing company, announced a successful $5 million Seed Round funding. This funding round included notable investors such as ReGen Ventures, Undeterred Capital, and Ponderosa Ventures, among others. The capital raised will support the operation of a new pilot plant, allowing Circe to transition from laboratory proof of concept to large-scale production of carbon-negative molecules, particularly focusing on fats and oils. Circe's innovative approach utilizes advanced gas fermentation technology to convert CO2 emissions into valuable chemical products. This process not only addresses the challenges of traditional manufacturing methods but also aims to replace carbon-intensive chemicals with sustainable alternatives. The company has already demonstrated its capability by producing a variety of prototypes, including confectionery, dairy products, and biofuels. The pilot plant, which is being accelerated by an ARPA-E contract, is a significant step towards achieving scale and price parity with conventional methods. Shannon Nangle, Co-founder and CEO, emphasized that their process consumes three kilograms of CO2 for every kilogram of oil produced, establishing a completely carbon-negative manufacturing model. This positions Circe as a leader in advanced gas fermentation, with the potential to secure essential supply chains for complex molecules. With a total of $14.5 million raised to date, including $5.5 million from non-dilutive sources, Circe is actively seeking partnerships to co-develop products across various industries. Their mission is to accelerate the transition to sustainable manufacturing practices while addressing the pressing issues of climate change and resource scarcity.