Lydian Raises $12M for Energy-Efficient E-fuels
Lydian, a startup aiming to produce sustainable, CO2-derived fuels and chemicals, has announced $12M in new seed funding co-led by Congruent Ventures and Galvanize Climate Solutions. Participating investors included Grok Ventures, Voyager Ventures, Union Square Ventures (USV), Overture VC, and Overlap Holdings. This funding adds to $3M in previously unannounced funding in June 2022 from Congruent, USV, Voyager, and Global Founders Capital. The company plans to use the new funding to build an integrated pilot plant in 2024 which will be capable of producing over 5,000 gallons of sustainable aviation fuels (SAFs) per year. Lydian is already producing small quantities of e-fuel in its Cambridge-based lab.
Lydian’s proprietary, high-temperature electric reactor enables the production of the world’s lowest cost e-fuels, a category of drop-in alternatives to transportation fuels made from captured CO2 and renewable electricity. Lydian also aims to produce carbon-negative versions of many other industrial chemicals.