Skyonic raises more capital, projects Q4 profitability

May 21, 2014
Austin Business Journal

Chemical engineering firm Skyonic Corp. has completed a $12.5 million Series C round of financing to continue improving its carbon-capture technology

Executives at the Austin-based company said the capital will be used to develop Skyonic’s product, called SkyCycle, and fund marketing efforts outside the United States. Skyonic has now raised $187 million in investment capital since launching

Investors in the latest financing include Houston-based ConocoPhillips (NYSE: COP) and Canada-based energy distributor Enbridge Inc. (NYSE: ENB), CEO Joe Jones said

Skyonic, founded in 2005, developed a process to convert carbon dioxide emissions into solid carbonate or bicarbonate materials while removing toxic materials. It employs 80 workers

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