Opus 12 raises money, changes name to Twelve

Opus 12, a California start-up aiming to make chemicals from carbon dioxide, has raised $57 million in series A venture capital funding and changed its name to Twelve. Capricorn Technology Impact Fund and Carbon Direct Capital Management led the round, along with DCVC, Munich Re Ventures, Microsoft’s Climate Innovation Fund, Breakout Ventures, and Evok Innovations. Twelve is developing processes based on the electrochemical reduction of CO₂ to make molecules like carbon monoxide, methane, and ethylene. The company has high-profile collaborations, including a deal with Procter & Gamble to make ingredients sourced from CO₂ for Tide laundry detergent.