OCOchem Raises $2.15 Million for CO2 Conversion Technology Amid Climate Tech Challenges
OCOchem, a clean tech startup in Richland, Washington, has secured $2.15 million in funding, raising its total to $11.2 million, to advance its technology that converts captured CO2 and water into formic acid and formate compounds. The company has formed partnerships with German firm b.fab and ADM to enhance its applications and is leveraging legislative support to improve conditions for carbon reuse technologies. Founded in 2017, OCOchem operates a facility that recently shipped formate for use as a deicing agent, amidst growing competition in the EU.
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OCOchem, a clean tech startup based in Richland, Washington, has raised $2.15 million in funding, bringing its total to $11.2 million from investors and $8.3 million in government grants. The company converts captured industrial CO2 and water into formic acid and formate compounds using proprietary electrolyzer cells.
Formate can be used for clean-burning hydrogen fuel and in critical mineral recovery. Recent initiatives include a partnership with German firm b.fab to utilize formate in biosynthesis and a collaboration with ADM to build a pilot plant in Illinois.
The company also operates a 40,000-square-foot facility that recently shipped formate for use as a deicing agent. Legislative support, such as the One Big Beautiful Bill Act, has improved conditions for carbon reuse technologies. OCOchem, founded in 2017 by Todd Brix, faces competition, especially in the EU.
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