Pegasus Capital Advisors and the Global Fund for Coral Reefs (GFCR) have announced an investment into C-Combinator (Carbonwave), a developer of regenerative advanced biomaterials from seaweed.
The investment will support Carbonwave’s model for upcycling the over-supply of sargassum seaweed into biomaterials while simultaneously restoring ocean health and sequestering greenhouse gases, per the company.
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Through this upcycling process, Carbonwave’s biorefinery eliminates toxic and reef-damaging substances polluting the ocean and shorelines in Mexico and the Caribbean. The process converts the seaweed into biomaterials that can replace petroleum-based products, per the company.
Geoff Chapin, co-founder and CEO of Carbonwave, commented: “We are thrilled to receive an investment from the Global Fund for Coral Reefs. Beyond the capital infusion, we look forward to the support of the team and partnership as we grow new product lines and into new geographies.”
