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The Omni OZ Fund is seeking to raise up to $300 million to fund the development of a processing plant that will produce a clean fuel to be sold to refineries and distributors. GreenMix fuel can reduce up to 45% of carbon output and eliminate upwards of 80% of other harmful chemicals emitted by car engines.
According to Omni, the finished clean fuel will be blended with unleaded gasoline to produce a product with higher gasoline octane.
The fund is seeking to raise $50 million in its series A round with a minimum investment of $100,000. In total, it is seeking $300 million of investment. The fund indicated that the GreenMix fuel processing plant could be operational within 12-18 months.