Exor, the Agnelli family's holding company, has invested in Charm Industrial, a San Francisco-based company specializing in carbon capture from the atmosphere, through its venture capital arm Exor Ventures. In addition to Exor Ventures, General Catalyst – as lead partner – Lowercarbon, Kinnevik, Thrive Capital, and Elad Gil (former Twitter vice president) participated in the $100 million Series B financing round. Charm Industrial, led by CEO Peter Reinhardt, captures CO2 from the atmosphere using plants. The company's technology, in particular, converts biomass (i.e. agricultural residues) into a stable, carbon-rich liquid (called bio-oil) via a process known as fast pyrolysis. This process allows for the permanent removal of CO2 from the atmosphere, lowering the risk of fires, soil erosion, and changes in land use. With this new significant round, which follows the first of 25 million dollars, the group intends to accelerate activities in Colorado and expand bio-oil production and transport capacity as much as possible. A goal that has led to an increase in carbon removal delivered per week of five times since the beginning of the year.