General Galactic Raises $8M to Advance Fossil-Free Fuel Revolution
Summary
Scalable solution for producing fossil-free hydrocarbon fuel from CO2 emissions has secured new funding from Harpoon Ventures, Refactor Capital and other investors Founded by former SpaceX and Varda Space Industries engineers Halen Mattison and LukeEL SEGUNDO, Calif., November 12, 2024-- General Galactic, a pioneer in fossil-free fuel generation technology, today announced the closing of an $8 million seed funding round, bringing the total investment in the company to $10 million. The investment will accelerate the development and deployment of General Galactics proprietary Genesis technology, which transforms industrial CO2 waste streams into fossil-free natural gas. Our vision is ultimately to build a gas station on Mars while producing clean, fossil-free energy on Earth along the way, said Halen Mattison, CEO and co-founder of General Galactic. The technology targets maritime shipping, agriculture and heavy industry sectors, where carbon reduction requirements and long-term capital investments will demand consistent access to low-emission, high-density fuels. Were immensely impressed with Halen and Lukes vision and fully expect their company to meaningfully move the world toward more renewable energy sources while bringing a pragmatic approach to these deeply critical, albeit entrenched, heavy industries that require energy-dense fuels, said Zal Bilimoria, founder of Refactor Capital.