Terms
- Announced
- 5 Oct 2021
- Instrument
- Equity
- Amount
- US$5.80mReported as EUR 5m, converted at 1.1598 USD/EUR (October 2021 average)
- Source
- prnewswire.com
Parties
- Project developer
- made of air GmbH
- Recipient type
- Technology company
- Country
- Germany
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis TD Veen Investor US$1.93m Estimated: an even share, 1 of 3 EQT Group Investor US$1.93m Estimated: an even share, 1 of 3 Tuesday Capital Investor US$1.93m Estimated: an even share, 1 of 3
Carbon
- Pathway
- Biochar
What happened
- TD Veen led. EQT invested through its EQT Foundation Fund. Patrick Pichette, Thomas Von Koch, Aksel Lund Svindal and the Pexip co-founders also participated as individuals and are not given provider rows. A separate EUR 800,000 of German regional state aid in 2022 is a distinct grant.
Kumo note
- A seed led by a Norwegian family fund with EQT’s foundation arm alongside, backing biochar used as a filler in thermoplastics for Audi and H&M rather than sold as credits. The removal is monetised through the product margin, which makes the material buyer, not a credit buyer, the offtaker.
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