MENLO PARK, CA, Calysta Energy has raised a $3 million Series A funding to advance its research on methane-based fuel and industrial chemical production.
Calysta Energy today announced completion of a Series A financing round totaling $3 million. The financing was led by Pangaea Ventures, and included current Calysta officers and directors. Purnesh Seegopaul, Ph.D., General Partner at Pangaea, will join the Calysta Board of Directors.
'We are delighted to welcome Pangaea to Calysta as an investor'
Calysta intends to use the Series A investment to advance development of biological routes to high value industrial chemicals and fuels based on methane, an advantaged feedstock from natural gas.
'We are delighted to welcome Pangaea to Calysta as an investor,' said Alan Shaw, Ph.D., Chairman, President and CEO. 'Demand for new technology solutions in industrial chemicals and fuels has created a global market opportunity. This financing positions Calysta to continue rapid development of scalable, economical pathways for these important new products based on our BioGTLĀ® and BioGTC™ natural gas conversion technologies,' he said. 'We are excited about Calysta's disruptive gas to liquids and chemicals technology approach,' added Purnesh Seegopaul.
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