Pegasus Capital Advisors and Global Fund for Coral Reefs invest $6m in biomaterials firm Carbonwave

• Founded in 1996 by Craig Cogut, Pegasus has invested over $2 billion across five private equity funds
• The Global Fund for Coral Reefs is focused on coastal ecosystems, communities, and coral reefs globally
• Carbonwave has offices in Puerto Rico, Mexico and Boston

Pegasus Capital Advisors and the Global Fund for Coral Reefs have invested $6 million in Carbonwave, a developer of ultra-regenerative advanced biomaterials from seaweed.

The investment will support Carbonwave’s model for upcycling the over-supply of Sargassum seaweed into high-value biomaterials while simultaneously restoring ocean health and sequestering greenhouse gases.

“We are thrilled to receive an investment from the Global Fund for Coral Reefs. Beyond the capital infusion, we look forward to the support of the team and partnership as we grow new product lines and into new geographies,” said Geoff Chapin, co-founder and CEO of Carbonwave.

Founded in 1996 by Craig Cogut, Pegasus has invested over $2 billion across five private equity funds.

The Global Fund for Coral Reefs is focused on coastal ecosystems, communities, and coral reefs globally.

Carbonwave has offices in Puerto Rico, Mexico and Boston.