How Much Did Prometheus Raise? Headquarters, Funding & Key Investors

Q: How Much Did Prometheus Raise? Headquarters, Funding & Key Investors

Prometheus, founded in 2018 in Santa Cruz, has raised approximately $24.1 million (across reported rounds in 2020–2021) and achieved a $1.5 billion valuation as of September 2021. Key investors include BMW i Ventures, Maersk Growth, and Metaplanet. The company captures atmospheric CO₂ and converts it into carbon-neutral gasoline, diesel, and jet fuel using renewable energy and advanced electrochemical methods. With growing interest from the shipping and aviation sectors, Prometheus is positioned to provide cost-competitive, zero‐net‐carbon alternatives to fossil fuels, part of a broader climate-tech wave.

How Much Did Prometheus Raise? Funding & Key Investors

Prometheus is a climate-tech startup offering a carbon-neutral fuel production platform that captures CO₂ from the air and turns it into gasoline, diesel and jet fuel using renewable electricity. Founded in 2018 by Rob McGinnis, it is headquartered in Santa Cruz, California (United States). With a small team of approximately 31 employees (as of July 2023), the company aims to deliver fuels compatible with existing engines and infrastructure, thereby helping to decarbonize transport and industrial fuel usage.

What Is Prometheus and What Does It Do?

Prometheus, founded in 2018, is based in Santa Cruz, United States, and employs approximately 31 people. The company develops a power-to-liquid platform that captures CO₂ from the air and converts it into carbon-neutral gasoline, diesel, and jet fuel through renewable electricity and electrochemical synthesis. Their technology is designed for existing internal-combustion engines and aviation use, offering a drop-in replacement fuel with zero net carbon emissions.

How Much Funding Has Prometheus Raised?

Series B

Amount Raised: $11.5 M
Date: March 2020
Motivation: To scale development of their CO₂-to-fuel technology.

Series B

Amount Raised: $12.5 M
Date: June 2020
Lead Investors: BMW i Ventures
Motivation: To deepen technological development and pilot production.

Total Funding Raised: $24.1 Million

Current Valuation: $1.5 Billion (as of Sept 2021)

Latest Funding Date: September 2021

Key Investors

BMW i Ventures

Details: Corporate venture arm of BMW Group, focusing on mobility and climate-tech.
Investment Focus Areas: Sustainable transport, clean fuels, mobility platforms.
Notable Investments: Prometheus, etc.

Maersk Growth

Details: Investment arm of A.P. Moller-Maersk, focused on decarbonizing shipping and logistics.
Investment Focus Areas: Green fuels, logistics tech, and sustainability.
Notable Investments: Prometheus, etc.

Metaplanet

Details: Japanese venture capital firm investing in early to growth-stage startups.
Investment Focus Areas: Deep tech, mobility, and climate tech.
Notable Investments: Prometheus, etc.

Where Is Prometheus’s Headquarters?

Prometheus is headquartered in Santa Cruz, California, United States, providing access to renowned renewable energy research institutions, a wealth of cleantech talent, and a thriving climate-tech ecosystem in Northern California.

What’s Next for Prometheus?

Prometheus is poised to scale its direct-air-capture and electro-fuel synthesis platform for commercial production, aiming to supply carbon-neutral fuels to aviation, shipping, and existing transportation infrastructure. With interest from large industrial partners and a unicorn valuation, their next phase will involve large-scale production, cost reduction, certification, and widespread deployment of zero-net-carbon fuels.

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