Emissions

Mitsubishi Heavy Industries backs biotech startup to decarbonize heavy industries

Mitsubishi Heavy Industries announced an investment in biotechnology startup Cemvita Factory, Inc., a company focused on decarbonizing heavy industries such as chemical manufacturing, mining, and oil and gas.
Mitsubishi Heavy Industries backs biotech startup to decarbonize heavy industries
(Mitsubishi Heavy Industries announced an investment in biotechnology startup Cemvita Factory, Inc., a company focused on decarbonizing heavy industries such as chemical manufacturing, mining, and oil and gas.)

Mitsubishi Heavy Industries announced an investment in biotechnology startup Cemvita Factory, Inc., a company focused on decarbonizing heavy industries such as chemical manufacturing, mining, and oil and gas.

MHI said the investment was made to continue the company's focus on strengthening its decarbonization technology offerings, including carbon capture, utilization, and storage solutions.

"At MHI we are committed to accelerating decarbonization. We believe there is not only one technology to be utilized, but that it is necessary to combine multiple technologies to achieve our world's carbon net-zero goals," said Yoshihiro Shiraiwa, President and CEO of Mitsubishi Heavy Industries America. "We must work closely with new and existing partners to develop new business models that advance our goals for decarbonization."

Cemvita's bio-manufacturing platform aims to mitigate emissions from energy-intensive processes by operating under ambient temperature and pressure while turning polymer production into a low-carbon activity by utilizing CO2 as a feedstock.

Cemvita is focused on building a circular carbon economy.

“We are excited to have Cemvita supported by strong corporate partners like MHI, who has extensive engineering capabilities across heavy industry markets,” said Cemvita Factory Co-Founder and CEO Moji Karimi. “This capital will accelerate our growth and scale our carbon-negative solutions to fight climate change.”

MHI joins a consortium of investors, including Energy Capital Ventures and Sumitomo Corporation of America.

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