Pegasus Capital Advisors and the Global Fund for Coral Reefs Announce Investment in Carbonwave
Summary
The investment will support Carbonwaves 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.Pegasus Capital Advisors and the Global Fund for Coral Reefs (GFCR) have announced an investment of up to $6 million into C-Combinator (d/ba/ Carbonwave), the worlds leading developer of ultra-regenerative advanced biomaterials from seaweed. 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, Carbonwaves 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. Carbonwaves 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 Carbonwaves 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. GFCR focuses on supporting investments into enterprises that address local drivers of coral reef degradation, unlock conservation funding flows, and increase communities adaptive capacities.