Hydrogen-based powertrains for zero-emission aviation, carbon-negative powerplants, and genome editing for speciality crops: Recent Deals worth looking at
Agriculture & Food
Pairwise (2018) provides genome editing solutions for agricultural development. Pairwise has employed their technology that uses a suite of CRISPR tools and high-impact gene editing techniques such as multiplexing across a variety of crops, including corn, soy, wheat, canola, leafy greens, and blackberries.
On September 17th, Pairwise raised $40M in Growth Equity funding from new investor Corteva Catalyst along with returning investors Aliment Capital, Deerfield and Leaps by Bayer.
The investment will be used to scale Pairwise’s innovative product pipeline, including seedless berries and pitless cherries. In parallel to Corteva’s equity investment in Pairwise, the two companies have entered into a five-year joint venture collaboration that will focus on accelerating the pace of gene-edited technologies and developing climate-resilient products.
Energy & Power
Reverion (2015) develops fuel cell technology that optimizes electricity generated from biogas. Their reversible and carbon-negative power plants increase electricity output and revenue in a reversable process that can also produce renewable natural gas or green hydrogen.
Reverion’s September 13th Series A round raised $62M. The round, which included non-dilutive funding, saw the participation of Energy Impact Partners, Honda, the EIC Fund, Extantia Capital, UVC Partners, Green Generation Fund, Doral Energy-Tech Ventures, and Possible Ventures.
The funding will support manufacturing of power plants to help meet the demand for over $100M customer pre-orders.
Materials & Chemicals
Infinium Holdings (2020) is a developer of CO2 utilization technology to produce transportation fuels using renewable power and CO2 emissions. A pioneer in commercially available ultra-low carbon efuels, their technology uses a proprietary process that combines water, waste CO2 and renewable energy to produce eSAF, eDiesel and eNaphtha.
Infinium Holdings raised $200M in growth equity funding from Brookfield Asset Management on September 10th. Brookfield will also lead Infinium’s Series C preferred stock offering.
The capital will be used to support Project Roadrunner that is under development in West Texas and up to an additional $850M for deployment of other Infinium eFuels projects globally. Infinium’s recently announced strategic deal with American Airlines secured the latter’s purchase of eSAF beginning in 2026 through Project Roadrunner.
Resources & Environmental Management
Sceye (2014) is a manufacturer of an airship infrastructure intended to give access to the stratosphere and climate monitoring. Their High-Altitude Platform Systems (HAPS) have applications in disaster detection and management, environmental monitoring, and connectivity.
Sceye raised $525M in Growth Equity funding from Mawarid Holding Company. The milestone investment follows Sceye’s successful 2024 flight program in which it demonstrated perpetual flight capabilities, proving their HAPS can operate continuously through a combination of solar power and battery storage.
The round will provide Sceye ample liquidity to fund R&D activities, flight programs, and launch the initial commercial operations in 2025. These expansion efforts will be supported by their continued partnership with Mawarid through access to new markets.
Transportation & Logistics
ZeroAvia (2017) is a developer of a hydrogen-based powertrain to enable zero-emission aviation. Their propulsion systems use green hydrogen produced through electrolysis with clean power.
On September 12th, ZeroAvia raised $150M in Growth Equity funding. Investors Airbus, Barclays Sustainable Impact Capital, NEOM, UK Infrastructure Bank, Breakthrough Energy Ventures, Horizons Ventures, Ecosystem Integrity Fund, Summa Equity, Alaska Airlines, Climate Pledge Fund, AP Ventures, and Scottish National Investment Bank participated in the round.
The investment will support commercialization of hydrogen aircrafts, hydrogen storage systems, fuel cells, and electric propulsion systems, and establish a manufacturing facility in Scotland. Through the round, ZeroAvia continues to progress towards certification of the first powertrain.
Waste and Recycling
PureCycle (2015) develops technology that separates color, odor, and contaminants from plastic waste feedstock to transform it into resin.
PureCycle’s September 11th Series A round raised $50M from Sylebra Capital and Samlyn Capital. The round was accompanied by a common stock sale that totalled $40M,and issuance of warrants to purchase 5 million shares of common stock at $11.50 and an extension of Sylebra Capital’s $200M credit line to March 31st, 2026.
The funding round is expected to enable PureCycle to continue executing on its plan to bring its world leading purification process to the market. Their Ironton facility has since turned its focus to production, having achieved feed rates of 10,000 pounds per hour.
