Climate Insider Brief:
- Mission Zero Technologies, a London-based carbon capture startup founded in 2020, has secured £21.8m in investment, primarily backed by a venture fund linked to Microsoft co-founder Bill Gates, to develop technology aimed at removing carbon dioxide from the atmosphere and mitigating global temperature rises.
- Specialising in electrochemical direct air capture (DAC) technology, Mission Zero claims to have devised a cost-effective and highly scalable method capable of recovering up to 250 tonnes of carbon dioxide annually from the air.
- The Series A funding round, led by investor 2150 and supported by prominent entities like World Fund, Fortescue, Siemens Financial Services, and Breakthrough Energy Ventures, reflects confidence in Mission Zero’s ability to rapidly deploy competitive DAC solutions.
PRESS RELEASE – March 18, 2024 – London-based carbon capture startup Mission Zero Technologies has secured £21.8m in an investment round backed by a venture fund from Microsoft co-founder Bill Gates.
Founded in 2020, Mission Zero Technologies is developing technology to scale the process of removing carbon dioxide from the atmosphere to prevent further global temperature rises.
Mission Zero Technologies has built electrochemical direct air capture (DAC) technology, which it claims is a cost-effective and highly scalable method to remove carbon from the air.
The company said its tech can recover up to 250 tonnes of carbon dioxide a year from the atmosphere.
“Our new partners’ manufacturing acumen and deep alignment with our vision will be catalytic in allowing us to scale DAC rapidly and responsibly for maximum positive climate impact,” said Dr Nicholas Chadwick, Mission Zero Technologies CEO.
The Series A funding round was led by investor 2150 and featured participation from World Fund, Fortescue, Siemens Financial Services and Breakthrough Energy Ventures, a clean energy investment vehicle founded in 2015 by Gates.
“Mission Zero has gone from concept to commercial deployments in just three years and built a team with the technical talent and drive to rapidly deploy the most competitive DAC in the market,” said Christian Jølck, co-founder and partner at 2150.
In December, Mission Zero established the UK’s first DAC plant in partnership with the University of Sheffield. The joint project is part of the Translational Energy Research Centre (within the university) to validate sustainable aviation fuel made from air to decarbonise the sector.
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SOURCE: UK Tech News
Featured Image: Credit: Mission Zero Technologies
