Terms
- Announced
- 20 May 2024
- Instrument
- Equity
- Amount
- US$50.0m
- Source
- businesswire.com
Parties
- Project developer
- 280 Earth, Inc.
- Recipient type
- Technology company
- Country
- United States
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis Builders VC Investor US$25.0m Estimated: an even share, 1 of 2 Alphabet Investor US$25.0m Estimated: an even share, 1 of 2
Carbon
- Pathway
- DAC
What happened
- Individual investor Gideon Yu excluded as a provider, consistent with house treatment of named individuals. X, the moonshot factory is the lab the company was spun out of and is not an investor; Alphabet is.
Kumo note
- 280 Earth closed its Series B on the same day it announced its first plant was operating, so the capital sits behind a running asset rather than a plan. Its former parent Alphabet stayed on the cap table through the spinout.
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