Pegasus Capital Advisors and the Global Fund for Coral Reefs announced an investment of up to $6 million into C-Combinator, the world’s leading developer of ultra-regenerative advanced biomaterials from seaweed.
The investment will support Carbonwave’s groundbreaking “cascading biorefinery” model for upcycling the over-supply of Sargassum seaweed into high-value biomaterials while simultaneously restoring ocean health and sequestering greenhouse gases.
“We are thrilled to receive an investment from the Global Fund for Coral Reefs. Beyond the capital infusion, we look forward to the support of the team and partnership as we grow new product lines and into new geographies,” said Geoff Chapin, Co-founder and CEO of Carbonwave.
By efficiently upcycling Sargassum seaweed, Carbonwave’s biorefinery eliminates toxic and reef-damaging substances polluting the ocean and shorelines in Mexico and the Caribbean, enhancing the resilience of coastal habitats and the health and safety of coastal communities worldwide. Carbonwave’s proprietary technologies create new employment opportunities, foster eco-tourism, and support marine protected areas and coastal habitats.
Dale Galvin, Managing Director of the Global Fund for Coral Reefs, shared his thoughts on the investment: “This collaboration highlights the Global Fund for Coral Reefs commitment to sustainable and impactful investments, and recognizes Carbonwave’s significant potential to address the urgent human and environmental challenges posed by the Sargassum seaweed problem. By partnering with Carbonwave, we are supporting the scaling of innovative, carbon-negative products supplied to high-growth sectors with compelling tailwinds, which will play a key role in the future of the green economy.”
Carbonwave represents a new era of sustainable economic growth, harnessing the potential of ultra-regenerative, plant-based biomaterials sourced from seaweed. By converting Sargassum seaweed, an overly abundant and damaging resource, into biomaterials that can replace petroleum-based products and other harmful industrial inputs, Carbonwave is at the forefront of building a next-generation economy that heals our planet.