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CarbonCapture Inc. raises $80m in series a funding round

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Carbon Herald or enjoy below:

🗞️ Driving the news: Direct Air Capture (DAC) innovator CarbonCapture Inc. has successfully raised $80 million in a Series A funding round
• Prime Movers Lab led the investment, with significant contributions from Aramco Venture, Amazon’s Climate Pledge Fund, and Siemens Financial Services among others

🔭 The context: The funding will boost CarbonCapture Inc.'s efforts to refine its carbon removal technology and support the early deployment of its modular DAC units
• The company is a frontrunner in DAC technology within the United States, aiming to reduce atmospheric CO2 levels significantly

🌍 Why it matters for the planet: DAC technology is crucial for capturing CO2 directly from the atmosphere, offering a promising solution to combat climate change
• CarbonCapture Inc.'s advancements in this field could play a pivotal role in achieving global decarbonization goals and ensuring a healthier planet for future generations

⏭️ What's next: With the new influx of capital and strategic partnerships, CarbonCapture Inc. plans to scale its DAC technology
• The collaboration with its investors, particularly leveraging their logistics, energy transition expertise, and digital transformation capabilities, is expected to accelerate the deployment of effective carbon capture solutions

💬 One quote: "The unparalleled logistics and supply chain prowess of Amazon, the world-class capabilities of Aramco Ventures, and the digital transformation and energy transition expertise of Siemens will be pivotal to helping us scale DAC in the coming years," said Adrian Corless, CEO of CarbonCapture Inc.

📈 One stat: CarbonCapture Inc. has already secured over $26 million in sales for carbon removal credits, collaborating with major corporations like Microsoft and Boston Consulting Group.

Click for more news covering the latest on carbon removal

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