What is Twelve?
Twelve operates at the intersection of climate tech and industrial manufacturing. By leveraging its proprietary Opus system, the company transforms captured carbon dioxide into high-value chemicals, fuels, and consumer goods. This carbon transformation process serves as a critical bridge for industries seeking to reduce their carbon footprint without compromising on supply chain resilience. As a leader in the e-fuels and sustainable materials market, Twelve is redefining how global enterprises source raw materials, moving away from traditional extraction toward a circular, carbon-negative production model.
How much funding has Twelve raised?
Twelve has raised a total of $832M across 5 funding rounds:
Series A
$57M
Series B
$130M
Multiple Rounds
$645M
Series A (2021): $57M with participation from Capricorn Investment Group and Carbon Direct
Series B (2022): $130M led by Capricorn Technologies, Carbon Direct, Breakout Ventures, and DCVC Management
Private Equity (2024): $400M supported by TPG Rise Climate
Series C (2024): $200M featuring TPG Rise Climate, Capricorn Investment Group, and Pulse Fund
Debt (2024): $45M, investors not publicly disclosed
Key Investors in Twelve
TPG Rise Climate
TPG Rise Climate is the dedicated climate investing strategy of TPG's global impact investing platform, focusing on large-scale, growth-oriented investments in companies that provide essential climate solutions.
Capricorn Investment Group
Capricorn Investment Group is a Palo Alto-based firm managing diversified portfolios for mission-aligned investors, with a specialized focus on sustainable, climate-positive, and high-impact ventures.
Pulse Fund
Pulse Fund is a venture capital firm dedicated to high-growth climate companies, providing strategic operational expertise and alternative financing to accelerate the energy transition and sustainable infrastructure.
What's next for Twelve?
Following this major enterprise-level funding, Twelve is poised to transition from pilot-scale innovation to full-scale industrial deployment. The strategic allocation of capital will likely focus on expanding manufacturing capacity for its e-fuel production and deepening partnerships with consumer goods manufacturers. By strengthening its operational infrastructure, Twelve aims to solidify its market position as the primary provider of carbon-neutral building blocks for the global economy, ultimately driving the next generation of industrial decarbonization.
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