Baker Botts Client Citroniq Chemicals LLC Closes $12 Million Series A Financing
On September 3, 2024, Citroniq Chemicals LLC (“Citroniq”) announced the closing of $12 Million Series A funding round (the “Series A Round”), led by a multi-national energy technology company strategic investor and co-investment from Lummus Technology Ventures. Baker Botts represented Citroniq in the Series A Round.
Citroniq, a Houston-based startup, is leading the energy transition by producing carbon negative materials at scale. Citroniq's platform for the chemical and plastics industries uses US-produced ethanol and cutting-edge technologies to generate some of the lowest-cost carbon capture and avoidance values in the industry. Citroniq's E2O process greatly reduces GHG emissions, permanently sequesters carbon into a useful plastic pellet, and helps companies reach their greenhouse gas reduction commitments. Citqoniq intends to use the Series A Round proceeds to continue its work toward the planning, design, and construction of its first plant.
Citroniq’s press release can be found here.
Baker Botts Lawyers/Offices Involved:
Corporate: Doug Getten (Partner, Houston), J. Michael Portillo (Special Counsel, Austin) and Leslie Lord (Associate, Austin)
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