As the global focus on climate change intensifies, advancements in carbon removal technologies continue to gain traction. This article outlines notable developments in funding and innovative initiatives within the carbon removal sector, showcasing organizations that are making significant contributions to this essential field.
Key Funding Announcements
- Neustark Secures $69 Million in Funding
Switzerland-based carbon removal provider Neustark has raised $69 million in an equity round led by Decarbonization Partners, a partnership between BlackRock and Temasek. This funding will enable the company to enhance its carbon removal solutions. - Twelve Raises $844 Million
Twelve, a leader in carbon transformation, has secured a total funding amount of approximately $844 million. The company specializes in converting captured carbon dioxide into valuable chemicals, fuels, and other essential products. - Svante Achieves $504 Million in Funding
Svante, known for its carbon capture and removal solutions, has raised approximately $504 million. The company focuses on the development and manufacturing of novel solid sorbents, contributing to efficient carbon capture technologies. - Avnos Secures $116 Million
Avnos is commercializing technology to capture CO2 without water consumption, resulting in water production for every ton captured. The company has raised about $116 million to support its innovative approach. - CarbonCapture Raises $115 Million
CarbonCapture specializes in developing direct air capture machines designed to remove CO2 from the atmosphere. The company has secured approximately $115 million to advance its technologies. - Air Company Receives $108 Million
Air Company creates consumer and industrial products from carbon dioxide. With a total funding of around $108 million, the company is enhancing its capacity to utilize CO2 effectively. - Mission Zero Achieves $39 Million in Funding
Mission Zero focuses on an electrochemical process that removes carbon dioxide from the air for various sequestration pathways. The company has raised approximately $38.7 million to further its initiatives. - Captura Secures $34.5 Million
Specializing in direct ocean carbon capture, Captura employs technology that leverages the ocean’s natural carbon removal capabilities. The company has raised about $34.5 million to enhance its operations. - Other Notable Funding Recipients
- Graphyte: Offers carbon removal services utilizing carbon casting technology ($30 million).
- Greenlyte Carbon Technologies: Develops an efficient low-temperature direct air capture process ($20.1 million).
- Carbyon: A Netherlands-based company focused on direct air capture technologies ($19.9 million).
- Phlair: Innovates low-cost, next-generation electrochemical direct air capture ($18.9 million).
- Undo: Specializes in enhanced rock weathering ($11.9 million).
- Climate Vault Solutions: Provides comprehensive climate solutions ($11.9 million).
- Carbon Blue: Developing an ocean-capture scalable method for CO2 removal ($10 million).
- EcoLocked: Creates CO2-negative building materials ($6.3 million).
- Oxylus Energy: Focuses on new carbon utilization technology for e-fuel generation.
Innovative Initiatives
- World Bank’s $225 Million Note for Amazon Reforestation
The World Bank has issued a nine-year, $225 million note aimed at financing reforestation efforts in the Amazon rainforest. This initiative stands out as returns for investors will be linked to the climate impact of newly planted trees, representing a shift in financing for environmental projects. - Frontier Fund Invests in Stockholm Exergi AB for Carbon Capture
The Frontier fund, supported by companies such as Alphabet Inc. and Meta Platforms Inc., is investing $48.6 million in Stockholm Exergi AB. This investment will facilitate the implementation of a carbon capture and storage system at its biomass-burning power plant, effectively preventing carbon emissions from decaying biomass.
Eion’s Contract with Microsoft for Enhanced Rock Weathering
Eion, specializing in enhanced rock weathering (ERW), has announced a contract to deliver 8,000 tons of permanent CO2 removal to Microsoft. Collaborating with large farmers in the Mid-Atlantic region, Eion plans to deploy olivine, a naturally occurring mineral, on agricultural land post-harvest to optimize carbon sequestration.
