# OCOchem

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ocochem

- Industry: Chemicals
- Headquarters: Richland, US
- Website: www.ocochem.com
- Total disclosed funding: $4.6M
- Latest round: Seed (Oct 12, 2023)
- Investors on record: 3

## About

OCOchem, based in the US, focuses on the innovative production of hydrogen formate through a unique carbon dioxide electrolysis process, addressing sustainable solutions in various industries.OCOchem specializes in the production of hydrogen formate, an organic molecule synthesized from CO2, water, and clean electricity. Founded in 2017 in Richland, US, the company has engaged in 6 deals, with the most recent deal occurring on October 12, 2023. In this latest round of funding, OCOchem raised USD 4.568 mn in Seed funding from TO VC and others, bringing the total amount raised to USD 4.568 mn. Todd Brix serves as CEO.OCOchem specializes in the production of hydrogen formate, a platform organic molecule synthesized through a unique CO2 electrolysis process that utilizes carbon dioxide, water, and clean electricity. This innovative technology allows for the efficient conversion of captured carbon emissions into valuable organic compounds, which can be further processed into a diverse range of derivative chemicals, fuels, and materials. The company’s core product, hydrogen formate, serves multiple industries, including agriculture, energy, and transportation, addressing the urgent need for more sustainable, fossil-free organic molecules. OCOchem's technology is designed to meet the demands of customers seeking environmentally friendly alternatives to traditional fossil-fuel-derived products. Their client base spans various geographical markets, including North America and Europe, targeting organizations focused on decarbonization and sustainability initiatives.OCOchem operates on a direct manufacturing model, selling its hydrogen formate products to a range of commercial clients in diverse sectors. The revenue structure primarily involves B2B transactions, whereby businesses purchase bulk quantities of formate for use in applications such as fertilizers, preservatives, and energy carriers. The pricing strategy is structured around the cost savings associated with using their environmentally friendly products compared to conventional fossil-based alternatives, although specific pricing plans are proprietary. Given the nature of its products and the increasing demand for sustainable solutions, OCOchem is positioned to capitalize on long-term contracts and partnerships with organizations aiming to reduce their carbon footprint. The company also engages in collaborative projects with the U.S. Army and various manufacturing entities, further solidifying its market presence and revenue potential.In October 2023, OCOchem raised USD 4.568 mn in Seed funding, with the intention to support the development of its modular carbon conversion technology. The company plans to expand its product offerings by launching new products that enhance its current technology solutions, focusing on markets in North America and Europe by 2024. Through this funding, OCOchem aims to advance its innovations in sustainable chemical production and increase its market reach.

## Funding rounds

- Seed, Oct 12, 2023, $4.6M — INPEX Corporation, The Lee Family Office, TO VC

## Investors

- INPEX Corporation — Seed
- The Lee Family Office — Seed
- TO VC (https://capitalatlas.ai/funds/to-vc) — Seed