Company expands to the U.S., empowering the controlled environment agriculture (CEA) industry with breakthrough technology to transform CO2 supply chains.

Amsterdam and Portland, Oregon – Skytree, an early-stage climate tech developer transforming
carbon dioxide (CO 2 ) supply using ambient air to combat climate change, announced today the
close of a $6 million seed round led by Horticoop, a cooperative fund investing in businesses
that contribute to the horticultural industry, and Yield Lab Europe, an international Agtech
impact VC fund.

The company also announced the appointment of Mark Henderson as global Chief Commercial Officer and President of North America.

The infusion of capital will enable Skytree to capture 10Mt CO2 to utilize or store by 2030,
dramatically increasing adoption rates of its DAC technology. Skytree’s CO2 solutions reduce the
stresses of price volatility and supply chain issues for businesses that rely on CO2 for their day-
to-day operations.

Skytree’s Direct Air Capture (DAC) core technology captures CO2 from ambient air onsite, filters it using a patented process, and stores it in pressurized buffer tanks where it can be accessed and reused by any business in regular need of concentrated CO2.

The company is rolling out its modular DAC technology for a range of Controlled Environment
Agriculture (CEA) businesses, such as greenhouse growers and vertical farms. By providing
onsite CO 2 generation, the technology future-proofs CEA businesses, alleviating procurement
and transport challenges, and delivering clean and affordable CO2.

By developing and deploying smart technology that captures atmospheric carbon dioxide,
Skytree supports CEA organizations in their quest to provide food security for a growing
population while reducing reliance on fossil fuel-based and unstable CO2 supply. The year-round
crop yield achieved through CEA methods, combined with circular supply of CO2, enables these
facilities to boost crop yields up to 20-30% higher than traditional farming methods.

“We are the first climate tech company supporting food security through deployment of DAC
technology, enabling businesses to transition away from fossil fuel-based CO2 supply,” said Rob
van Straten, CEO of Skytree. “Not only can we provide a cleaner source of CO2 for greenhouses
that use it for their farms, but our onsite solutions also enable increased productivity in farms
that currently cannot access or don’t use CO2 .”

Steven van Nieuwenhuijzen, CEO of Horticoop said, “Controlled environment agriculture faces a
complex challenge with the energy transition that should lead to a reduction of CO2 emissions.
To achieve a climate-neutral horticulture sector without natural gas, the CO2 required for cultivation must come from sources other than gas. We see Skytree as a company full of potential, able to make direct air capture a success with promising technology.”

“With its expanded global presence and impending availability of new DAC technology, Skytree
is well-positioned to assume a leadership role among Carbon Capture and Utilization solution
providers,” said Daan Wilms van Kersbergen, Investment Director of Yield Lab Europe. “We are
impressed by Skytree’s potential to decrease the use of fossil CO2 in CEA, and beyond agriculture the applications for Skytree’s technology are numerous. We look forward to supporting the team through the company’s next phase of growth.”

Founded in 2014, Skytree’s technology is built on a foundation of over a decade of applied
research developing cutting-edge technology for astronauts on the International Space Station
to tackle the CO2 challenge here on Earth.

About Skytree
Founded in 2014 and headquartered in Amsterdam, Skytree harnesses CO2 from ambient air through the power of direct air capture technology (DAC). By providing local, onsite CO2 generation across multiple markets including indoor farming, greenhouses as well as mineralization, Skytree enables a transition away from fossil fuel based industrial processes and avoids transport to where the CO2 is needed. The company’s core technology captures CO2 from ambient air and stores it in pressurized offer tanks where it can be accessed for multiple applications. The modular technology can be set up quickly at any location and scaled to meet the needs of businesses of all sizes.

Born out of the European Space Agency (ESA), during the development of a CO2 scrubber, space scientists evaluated over 50 sorbents. Skytree founder, Max Beaumont, was a system engineer on this team and spun out the technology through the ESA incubator program ‘ESA-BIC’. With a decade of research & development, the company has since registered 17 patents, in 5 patent families across US, Europe and China and is ready to monetize the technology through multiple use cases.
Skytree’s vertical farm units are available for pre-order today to generate an independent and reliable CO2 supply.

About Horticoop
The Horticoop cooperative has been working for nearly 120 years to ensure a stable future for
the horticultural sector, collaborating with approximately 400 members who run professional greenhouse horticultural businesses and with the Horticoop subsidiaries active in the fields of
lighting, climate, technology and substrates for the industry. The Horticoop subsidiaries, which
include Lensli, Horticoop Technical Services, Lumiforte, Horticoop Scandinavia and HortAmericas, are domiciled both in the Netherlands and abroad. In late 2021, Horticoop entered the market as an investment party, transforming the cooperative into a platform for investment, innovation and development from which all stakeholders – members, Horticoop subsidiaries and the sector as a whole – will profit.

About Yield Lab Europe
Yield Lab Europe is an Agtech impact venture capital fund, investing into early stage European
AgriFoodTech companies to make global food and agriculture production systems more sustainable and more efficient whilst improving profitability. This includes technologies in crop production, animal health and welfare, precision agriculture, horticulture, food ingredients, supply chain/logistics and food processing/packaging. Yield Lab Europe has offices in Ireland, the Netherlands and France, has made 21 investments so far and has partnered with Dutch institutions including InvestNL, BOM, and OostNL.