Twelve
Techstars '18Moses Lake, US · Founded 2009 · Delaware corporation · 23 known investors
Find your way into Twelve
1,623 people in our graph share verified history with the Twelve team — schools, employers, funds. One of them is your warm intro.
Deep Nisharunlockedknows Etosha Cave · together at Stanford University (overlapped)
×8knows the team · via Stanford University
×3knows the team · via Techstars
Twelve transforms CO2 into chemicals, fuels, and materials through carbon transformation technology. The company targets industrial applications in the chemical and energy sectors.
Founders & leadership
Twelve was founded in 2009 by Nicholas Flanders, Etosha Cave, and Kendra Kuhl.
NF
Nicholas FlandersinCo-Founder and CEO
EC
Etosha CaveinCo-Founder & Chief Science AdvisorEtosha Cave is a scientist and engineer who has focused on electrochemical conversion of CO₂ into chemicals and fuels; as co-founder of Twelve, she has worked on commercialization and technology transfer while also supporting scientific entrepreneurship through Activate.
KK
Kendra KuhlinCo-Founder & Advisor
AC
Andrew CleelandinExecutive
Board
Investors · 23
Breakout Ventures✓ verifiedSan Francisco · $500K – $6M
DCVC (Data Collective)✓ verifiedPalo Alto · $5M – $25M
Dolby Family Ventures✓ verifiedSan Francisco
Fifth Wall✓ verifiedLos Angeles · $250K – $100M
Advantage Partners Inc.Tokyo
Aera VCSingapore · $25K – $5M
Cantos VenturesSan Francisco · $400K – $1.5M
Global BrainTokyo · $100K – $184M
GreycroftNew York · $100K – $5M
ISVWest Palm Beach
Lightstone VenturesPortola Valleyvia Hanson S. Gifford · board
Lowercarbon CapitalNew York · $100K – $5M
MOL SwitchPalo Alto
Nucleation CapitalLynnwood
Olive Tree CapitalBoston
Page One VenturesSilicon Valley
Pulse Fund
TechstarsBoulder · $220K
Unruly CapitalLondon
Emerson Collective InvestingreportedPalo Alto · $100K – $1M
Munich Re VenturesreportedSan Francisco
Radical VenturesreportedToronto · $1M – $25M
Starlight VenturesreportedMiami · $100K – $3M
Reported raises · per SEC filings
Form D private placements$57.8M disclosed across 4 rounds · 2012–2015
▶$35.2MraisedApr 2015 · 9 investors · Other Health CareRule 506(b)
▶$35.2MraisedApr 2015 · 9 investors · Other Health Care
Rule 506(b)Officers, directors & promoters on the filing
- Marc-Henri GallettiDirector
- Nimesh ShahDirector
- Charles WardenDirector
- Thomas FogartyDirector
- Mark DeemDirector
- Christopher ShenDirector
- Hanson S. Gifford IIIDirector
- Andrew CleelandExecutive Officer, Director
- Henry A. Plain, Jr.Director
- Offering amount
- $35.3M
- Amount sold
- $35.2M
- Minimum investment
- $1
- First sale
- Apr 2015
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$14.1MraisedJul 2014 · 7 investors · Other Health CareRule 506(b)
▶$14.1MraisedJul 2014 · 7 investors · Other Health Care
Rule 506(b)Officers, directors & promoters on the filing
- Ferolyn PowellDirector
- Mark DeemDirector
- Thomas FogartyDirector
- Henry A. Plain, Jr.Director
- Andrew CleelandExecutive Officer, Director
- Hanson S. Gifford IIIDirector
- Charles WardenDirector
- Nimesh ShahDirector
- Marc-Henri GallettiDirector
- Offering amount
- $14.1M
- Amount sold
- $14.1M
- First sale
- May 2014
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$7MraisedApr 2014 · 5 investors · Other TechnologyRule 506(b)
▶$7MraisedApr 2014 · 5 investors · Other Technology
Rule 506(b)Officers, directors & promoters on the filing
- Mark DeemDirector
- Nimesh ShahDirector
- Charles WardenDirector
- Henry A. Plain, Jr.Director
- Hanson S. Gifford IIIDirector
- Offering amount
- $7M
- Amount sold
- $7M
- First sale
- Mar 2014
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$1.5MraisedJan 2012 · 5 investors · Other TechnologyRule 506(b)
▶$1.5MraisedJan 2012 · 5 investors · Other Technology
Rule 506(b)Officers, directors & promoters on the filing
- Nimesh ShahDirector
- Charles WardenDirector
- Mark DeemDirector
- Hanson GiffordExecutive Officer, Director
- Henry A. PlainDirector
- Offering amount
- $1.5M
- Amount sold
- $1.5M
- Minimum investment
- $1
- First sale
- Jan 2012
- Incorporated
- Corporation, Delaware, 2009
- Federal exemptions
- 06
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Competitors · 4
by search overlapLanzaJet33 shared keywordsLanzaJet develops and commercializes Alcohol-to-Jet (ATJ) technology to produce sustainable aviation fuel, enabling the aviation industry to reduce carbon emissions. The company operates pilot and commercial-scale production facilities and works with airlines and energy companies to scale SAF deployment globally.
Boom30 shared keywordsBoom Supersonic develops supersonic aircraft and engines, including the Overture commercial airliner and the Symphony turbofan engine, targeting commercial aviation and advanced infrastructure applications.
AIRCO29 shared keywordsAIRCO produces high-purity ethanol through a catalytic process that converts carbon dioxide directly into ethanol, eliminating agricultural fermentation. The product is designed for premium beverage, fragrance, and flavor manufacturers seeking consistent, low-carbon ingredients with superior quality control.
Chooose28 shared keywordsChooose provides modular software that enables airlines to procure, manage, and report on sustainable aviation fuel (SAF) initiatives, including inventory management, automated accounting, customer engagement features, and compliance reporting for regulatory frameworks.
Companies competing with Twelve for the same Google search keywords, organic and paid, via search-intersection analysis.
Non-dilutive funding · 24 SBIR/STTR awards
Federal grants — no equity taken| Agency | Phase | Year | Amount |
|---|---|---|---|
| Department of Energy | Phase IISTTR | 2022 | $1.1M |
| Department of Energy | Phase I | 2022 | $206.5K |
| Department of Energy | Phase II | 2021 | $1.1M |
| U.S. Air ForceAir Force | Phase II | 2021 | $750K |
| Department of Energy | Phase II | 2020 | $1.1M |
| Department of Energy | Phase IISTTR | 2020 | $1.1M |
| Department of Energy | Phase ISTTR | 2020 | $200K |
| U.S. Air ForceAir Force | Phase I | 2020 | $50K |
| U.S. Air ForceAir Force | Phase II | 2019 | $1.5M |
| Department of Energy | Phase II | 2019 | $1M |
| Department of Energy | Phase I | 2019 | $150K |
| Department of Energy | Phase ISTTR | 2019 | $150K |
| U.S. Air ForceAir Force | Phase I | 2019 | $49.7K |
| Department of Energy | Phase II | 2018 | $1M |
| Department of Energy | Phase I | 2018 | $150K |
| ARPA-E | Phase II | 2017 | $1.2M |
| NASA | Phase II | 2017 | $749.7K |
| National Science Foundation | Phase II | 2017 | $500K |
| ARPA-E | Phase II | 2017 | $482.6K |
| ARPA-E | Phase I | 2017 | $225K |
| Department of Energy | Phase I | 2017 | $150K |
| National Science Foundation | Phase I | 2016 | $225K |
| Department of Energy | Phase I | 2016 | $150K |
| NASA | Phase I | 2016 | $112.1K |
Source: SBIR.gov award data (U.S. Small Business Administration). SBIR/STTR awards are competitive federal R&D grants and contracts — non-dilutive capital alongside any venture rounds above.
In the news
The Week’s 10 Biggest Funding Rounds: AI, Energy And Biotech Lead The Waynews.crunchbase.com · Jul 2026Frequently asked questions
- What does Twelve do?
- Twelve transforms CO2 into chemicals, fuels, and materials through carbon transformation technology. The company targets industrial applications in the chemical and energy sectors.
- Who founded Twelve?
- Twelve was founded by Nicholas Flanders, Etosha Cave, Kendra Kuhl in 2009.
- Who are Twelve's investors?
- Twelve's investors include Breakout Ventures, DCVC (Data Collective), Dolby Family Ventures, Fifth Wall, Advantage Partners Inc., Aera VC, Cantos Ventures, Global Brain and 15 more.
- How much funding has Twelve raised?
- Twelve has disclosed $57.8M raised across 4 rounds.
- Where is Twelve headquartered?
- Twelve is headquartered in Moses Lake, US.