Insider Brief
- Climate-tech startup CarbonBlue has announced the completion of a seed funding round to scale up and deploy its water-based Carbon Dioxide Removal (CDR) technology.
- The Israeli-based company reports that total funding has now reached $10 million.
- The financing will allow the company to expand its global operations, scale up its technology and pursue novel integrations with water-utilizing industrial facilities.
PRESS RELEASE — Climate-tech startup CarbonBlue has announced the completion of a seed funding round to scale up and deploy its groundbreaking water-based Carbon Dioxide Removal (CDR) technology, bringing the funding raised by the company to $10 million. The completion of this round singles CarbonBlue out as an exceptional innovator in the climate-tech sphere. The financing will allow the company to expand its global operations, scale up its technology and pursue novel integrations with water-utilizing industrial facilities.
CarbonBlue’s Direct Water Capture technology is unique in its ability to utilize any type of water in its environmentally friendly process. This universal water compatibility allows integration with any water-utilizing facility, and holds the potential to convert any existing water infrastructure into a CDR asset in the fight against global warming.
The round was led by Ibex Investors and FreshFund, joined by strategic investors ENGIE New Ventures, and ZIM Ventures, the corporate venture capital arm of ZIM Integrated Shipping Services, and included further investments by existing investors Jibe Ventures, MoreVC and Secret Chord Ventures.
“The closing of our seed round marks an I mportant chapter in our company’s journey,” said Dr. Dan Deviri, CarbonBlue co-founder and CEO. “It will allow us to expand our collaborations with major players in the climate, energy, and water sectors, and help us solidify and mature our technology and its applications. This vote of confidence from industry leaders validates our approach; it shows that they believe climate change deeply affects their core businesses, and that CarbonBlue’s contribution to this global effort is a significant one.”
“Carbon Blue’s process is a win-win, restoring ocean health while permanently removing CO2, all without the addition of chemicals. Their rate of technological and operational progress has been exciting to watch since Frontier first backed them last year,” added Frauke Kracke, Science Lead at Frontier and Stripe Climate.
“What sets CarbonBlue apart from other CDR players is their ability to directly support and integrate into mission critical infrastructure projects such as efuels and desalination. The combination of CDR and industry co-benefits is the secret sauce Dan and Iddo, [CarbonBlue’s co-founders], have nailed. Their strategic partnerships and investors are a testament of this unfolding,” added Jonathan Schwartz, investor at Ibex Investors.
“I am excited by the potential for CarbonBlue to not only remove gigatons of CO2 annually but also to do so economically and in a scalable way, supporting broader innovation across key infrastructure verticals,” said Bradley Bloom, CarbonBlue Board Director and co-founder of Berkshire Partners.
