An artist's rendering shows CarbonCapture DAC container-sized modules being assembled into clusters, in this image
Prime Movers Lab Leads $80M Investment in CarbonCapture Inc.
Strategic Backers Include Amazon's Climate Pledge Fund, Aramco Ventures, and Siemens Financial Services.
CarbonCapture Inc., a pioneering direct air capture (DAC) company based in the US, has successfully concluded its $80 million Series A financing round. The investment round saw the addition of strategic investors such as Amazon's Climate Pledge Fund, Aramco Ventures, and Siemens Financial Services. Prime Movers Lab, renowned for backing groundbreaking scientific startups, spearheaded the financing with contributions from Idealab X, TIME Ventures led by Marc Benioff, Neotribe Ventures, Alumni Ventures, and other venture investors.
The raised funds will fuel CarbonCapture's ongoing efforts in technology development and the deployment of DAC systems. The company specializes in creating, manufacturing, and implementing highly scalable solid sorbent DAC systems built upon its patented modular open systems architecture.
"To realize our ambitious mission to decarbonize the atmosphere, it's imperative that we marshal the capabilities of the global industrial community," said Adrian Corless, CEO of CarbonCapture Inc. "That's why I'm so excited to welcome our new strategic investors—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. We also want to thank our existing investors for their continued belief and support. Together, we're stepping closer to a cleaner, healthier planet for future generations."
Notably, CarbonCapture has already secured over $26 million in pre-sale carbon removal credits, with leading global companies like Microsoft, Boston Consulting Group, Alphabet, Meta, Stripe, Shopify, McKinsey & Company, and JPMorgan Chase & Co. among its clients.
"CarbonCapture has made substantial technical and commercial progress since our initial investment in the company, signing offtake agreements with some of the world's largest brands. Prime Movers Lab has done due diligence on numerous carbon capture companies, and we believe Adrian and his team are the ones who will decarbonize our atmosphere at scale and emerge as one of the most important breakthrough science companies," said Zia Huque, Prime Movers Lab General Partner and CarbonCapture Board Member.
"Tackling the climate crisis will require drastically reducing emissions while also removing carbon already in the atmosphere. Effective, verifiable, and durable carbon removal, such as that achieved through CarbonCapture Inc.'s DAC system, will be crucial for a net-zero carbon future. This investment complements Amazon's existing carbon-reduction efforts, including investments in electric vehicles, renewable energy, hydrogen, and ecosystem restoration," said Dr. Adiari Vazquez, Investment Partner at Amazon's Climate Pledge Fund. "We are excited to support the growth of CarbonCapture Inc., an innovative company advancing the scalability and accessibility of carbon removal."
"Aramco Ventures is very pleased to support CarbonCapture's unique, modular direct air capture platform," said Chris Haase, Investment Director of Aramco Ventures.
"Siemens Financial Services is proud to collaborate with CarbonCapture Inc. as they take a leading role commercializing direct air capture in the US," said Steffen Grosse, CEO of Equity Finance, Siemens Financial Services. "Already a strategic investor in negative emissions technologies that are poised to help address climate change, we're excited to offer our expertise and portfolio of digital process simulation, automation, and control solutions to support CarbonCapture in their ambitious plans to deploy DAC systems at scale.
About CarbonCapture Inc.
CarbonCapture is at the forefront of developing and deploying DAC machines capable of removing substantial carbon dioxide from the atmosphere. Leveraging its patented modular open systems architecture, the company's DAC systems offer plug-and-play upgrades, scalable mass production, limitless scalability, and swift technology iterations.