Lydian, a Cambridge, Massachusetts-based startup that provides sustainable, carbon dioxide (CO2)-derived fuels and chemicals, has raised $12 million in seed funding. The round was led by Congruent Ventures and Galvanize Climate Solutions, with participation from Grok Ventures, Voyager Ventures, Union Square Ventures (USV), Overture VC, and Overlap Holdings.
The company plans to use the funds to build an integrated pilot plant in 2024 that will be capable of producing over 5,000 gallons of sustainable aviation fuel (SAF) per year. Led by CEO Joe Rodden and CTO Branko Zugic, Lydian uses a proprietary, high-temperature electric reactor to produce e-fuels, which are drop-in alternatives to transportation fuels that are made from captured CO2 and renewable electricity. The company also aims to produce carbon-negative versions of many other industrial chemicals.
