Zero Carbon Fund leads pre-seed investment in Phycobloom
We are super-excited to announce our investment in the pre-seed funding round of Phycobloom, a UK-based bio-technology company engineering algae that will enable cheap, carbon-neutral biofuels that can power future air travel and more.
Phycobloom is using synthetic biology to create novel strains of algae that will use atmospheric CO2 to create affordable and sustainable hydrocarbons. The founders are Dr Ian Hu, who has been genetically engineering algae for a decade, and Dr John Waite, with a background in materials science and a passion for creating the sustainable energy systems of the future. The new investment round will enable them to build on their cutting-edge research in gene editing, and move toward commercial validation by building several lab-scale prototypes.
“We are thrilled to joining the Zero Carbon Fund portfolio and to have their support while building the next generation of climate mitigation technologies that the world so desperately needs" Dr John Waite, CEO of Phycobloom.
This is exactly the type of company we want to support. John and Ian are incredibly smart, mission-driven founders, working on an innovative scientific solution to a part of our Carbon Economy that is responsible for over half-a-gigaton of CO2 emissions per year.
The round was oversubscribed, which is no mean feat in these times and Pippa will take an investor director board seat with Phycobloom.
Welcome Ian and John to the Zero Carbon Capital family.