Copenhagen-based Again, a carbon utilization company capturing carbon dioxide (CO₂) and turning it into valuable chemicals, announced on Wednesday that it has raised $43M (approximately €39M) in a Series A funding round co-led by GV and HV Capital.
The funding round also included participation from Kompas VC, EIFO – Denmark’s Export and Investment Fund, ACME Capital, and Atlantic Labs.
The capital brings the total raised by Again to $100M (approximately €91M), including a $47M (approximately €43M) Horizon Europe grant for the PyroCO2 project.
The funding will help the Danish company to build additional facilities to combat the climate crisis at scale.
Additionally, the funds will be used to build additional production capacity to deliver green chemicals to customers, including its landmark offtake agreement with global chemical distributor HELM AG, and R&D to expand Again’s product portfolio and bring more molecules to market.
Again: Building full-scale decarbonisation plants
Founded in 2021, Again was born out of research developed by Dr. Torbjørn Jensen and Professor Alex Nielsen at DTU, Stanford, and MIT.
Former early-stage investor Max Kufner completes the founding team, which launched Again in 2021 to build a scalable solution to tackle the climate crisis.
Dr. Torbjørn Jensen, co-founder at Again, says, “Again is the world’s first carbon-negative chemical manufacturer that can scale to meet global demand. Whilst other companies are struggling to make carbon capture scaleable, we have the means to not only capture waste CO₂ but turn it into useful products to fully decarbonize the supply chain. We have ambitious plans ahead and this funding is critical to help us reach the next stage in our mission.”
Again is providing the means to decarbonise the petrochemical industry, producing green chemicals at low costs, while reducing carbon emissions to accelerate the race to Net Zero.
The company’s biomanufacturing process combines millennia-old bacteria with biotechnology.
The Danish company ferments CO₂ and hydrogen into emission-free chemical products in a
one-step carbon capture utilisation process to reduce emissions and decarbonise the petrochemical industry.
This technology is already working at Again’s first carbon utilisation facility in Denmark, converting CO₂ into acetate, the base chemical for adhesives, solvents, plastics, textiles, and cosmetics, and reducing emissions by up to 80 per cent.
Max Kufner, co-founder at Again, says, “Again is transforming one of the world’s most polluting industries, at no extra cost to customers, at our plant in Denmark and we’re excited to build on this for our next facility. This will help global companies reduce emissions through recycling and improve supply chain resilience through Again’s virtuous cycle. We’re delighted that GV is doubling down on its investment in Again and to welcome HV Capital to the team – their support will be invaluable to Again as we grow in our aim to combat the climate crisis at scale.”
The investor
GV supports innovative founders moving the world forward. The company invests across the life sciences, consumer, enterprise, crypto, climate, and frontier technology sectors.
Launched as Google Ventures in 2009, GV has over $10BV in assets under management and 400 active portfolio companies across North America and Europe.
Notable investment outcomes include Uber, Nest, Slack, GitLab, Duo Security, Flatiron Health, Verve Therapeutics, and One Medical.
Roni Hiranand, Principal at GV says, “We have been highly impressed with the company’s ability to develop and deploy the core technology so effectively into valuable, market-ready products so we were delighted to co-lead Again’s Series A round after previously backing them. While other sectors have found short-term pathways to mitigating emissions, large segments within the industry still need to achieve the same level of momentum. Again aims to become the leading carbon transformation and utilisation company by leveraging microbiology for the production of green chemicals.”
HV Capital is an early-stage and growth investor in Europe. With nine fund generations in 23 years and €2.8B in managed assets, HV Capital is one of the continent’s most active early-stage investors.
In addition to international success stories like Zalando, Delivery Hero, Sumup, and Depop, innovation leaders such as Enpal, Flixbus, Sennder, and Isar Aerospace are also part of the portfolio.
HV Capital has invested in around 225 internet and technology companies, supporting startups with ticket sizes ranging from €0.5M to €60M.
Jan Miczaika, Partner at HV Capital, says, “Again is a once-in-a-generation company that has the technology to solve a major problem, decarbonising the petrochemical industry, and the commercial plan to be able to scale this technology. We’re excited to be a part of this journey with them.”
01
These are the top UK-based PR agencies for startups and scale-ups in 2025