Global law firm Dentons has advised the climate start-up Phlair (formerly Carbon Atlantis) on a seed financing round with new investors. Extantia was the lead investor in the
€14.5 million financing round, which also included Planet A, Verve Ventures, Atlantic Labs, Counteract, and other VC funds and business angels.
Phlair was founded in Munich in 2022 and is developing a new, cost-effective direct air capturetechnology for removing carbon dioxide from the air. Together with partners, the captured carbon dioxide is either permanently stored or used to produce CO₂-negative chemicals. The financing will accelerate the development of two first-of-a-kind plants each with a capacity of 260 tons of carbon dioxide per year. In addition, the financing round lays the foundation for the first large-scale commercial plant with a capacity of over 20,000 tons of carbon dioxide per year, which is expected to commence operations in 2026.
A Dentons team, under the leadership of partner Thomas Strassner and counsel Dr. Michael Singer from Munich, advised the company on all aspects of the financing round. The team regularly advises on transactions and venture capital financing, particularly in the technology and healthcare sectors.
