Skyonic Secures $128M in Series C Funding

                  Skyonic Secures $128M in Series C Funding

New Investors Join Revolutionary Carbon-Negative Chemistry Company to Build
the World's First Commercial-Scale Carbon Capture and Mineralization Plant

PR Newswire

AUSTIN, Texas, June 25, 2013

AUSTIN, Texas, June 25, 2013 /PRNewswire/ -- Skyonic Corporation today
announced that it has secured $128 million at the close of its Series C round.
The $128 million will be used to support the construction of the world's first
commercial-scale carbon capture and mineralization plant, which is expected to
account for the profitable removal of more than 300,000 tons of carbon
dioxide. The company will break ground this summer at Capitol Aggregates
Cement in San Antonio, Texas, where the Capitol SkyMine carbon capture plant
will be retrofitted. The funds will also help support the advancement of
Skyonic's global IP portfolio of profitable carbon chemistry solutions and
other R&D and operations expenses.

The new funding includes equity investments from new investors Cenovus Energy
[TSX, NYSE: CVE], BlueCap Partners, Toyo-Thai Corporation Public Company
Limited [TTCL:Bangkok], and Energy Technology Ventures. These companies join
previously announced investors Berg & Berg Enterprises, Northwater Capital
Management, ConocoPhillips [NYSE:COP], BP Ventures [NYSE:BP], PVS Chemicals,
and Zachry Corporation. These investments bring the total C-round investments
to $48 million, including the $9 million announced in July 2012. Skyonic also
secured loan financing in the amount of $80 million from Apollo Investment
Corporation and Maxus Capital Group.

"The Capitol SkyMine plant will mark the first time that carbon-negative
chemistry has reached the commercial stage," said Joe Jones, founder and CEO
of Skyonic. "Our unique, patented process means that emission problems can
become emission profits. The carbon-negative products produced, which include
sodium bicarbonate and hydrochloric acid, will displace the carbon-positive
products currently sold. This is a crucial step towards a cleaner global
manufacturing industry."

The equity and debt funding, together with $28 million in funding under a
grant from the U.S. Department of Energy's National Energy Technology
Laboratory, will be used to construct the Capitol SkyMine plant in San
Antonio, Texas. The retrofit plant is expected to directly capture 83,000 tons
of CO[2] from the Capitol Aggregates' emissions. By using this captured CO[2]
to make products that would otherwise generate additional CO[2], the plant
will offset an additional 220,000 tons annually, once fully operational in
2014. Skyonic is expected to create more than 200 jobs through the plant's
construction and ongoing operations.

Skyonic's electrolytic SkyMine® technology will selectively capture CO[2],
acid gases and heavy metals from the flue gas and mineralize the captured
pollutants into safe, stable, solid products. The plant is expected to turn a
profit from the sale of these products within three years. Because the plant
operates at energy-efficient conditions and produces valuable products using
low-cost chemical inputs, SkyMine® captures CO[2] at a substantially lower
cost than other carbon capture technologies, allowing industrial emitters to
turn a profit from reduced emissions.

Skyonic will host a groundbreaking event this summer to celebrate the
commencement of construction. Joe Jones, and other dignitaries will speak at
the event.

About Skyonic Corporation

Skyonic Corporation builds new and retrofittable plants that produce
carbon-negative chemical products at the lowest cost, while mineralizing
industrial CO[2] emissions and scrubbing SOx, NOx and mercury. The company's
technologies are designed to economically extract and mineralize carbon
dioxide from industrial flue gas into products, such as baking soda,
hydrochloric acid and limestone, at a commercial scale. These carbon
chemistry processes have a two-fold effect, not only driving profit through
the sale of products, but also helping to mitigate the effects of industrial
pollution and close the carbon cycle. The company is building the nation's
first commercial‐scale carbon capture and utilization facility at Capitol
Aggregates, Inc. in San Antonio, Texas. Skyonic was founded in 2005 by
inventor and CEO, Joe Jones and is located in Austin, TX. For more about how
Skyonic produces solid returns from clean air, visit http://www.skyonic.com

SOURCE Skyonic Corporation

Website: http://skyonic.com
Contact: Stacy MacDiarmid, (512) 658-2265, stacy@skyonic.com or Phoebe
Francis, Lois Paul & Partners, (512) 638-5338, phoebe_francis@lpp.com
 
Press spacebar to pause and continue. Press esc to stop.