Low-carbon transition | January 30, 2024

Captura scores $33.5 million to capture carbon from the oceans

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, January 30 — Pasadena, Calif.-based Capture extracts carbon from the ocean’s upper layers using seawater and renewable electricity. Captura says the process increases the oceans’ capacity to absorb additional CO2 from the atmosphere.

“It’s becoming increasingly important to include carbon removal technologies as a part of a net-zero strategy,” said Luis Manuel of EDP Ventures, an existing Captura investor that has reupped in the company’s $33.5 million Series A round, alongside the Saudi oil giant Aramco and Equinor Ventures.

Equinor is installing Captura’s technology at a plant in Norway that is expected to have nearly 1,000 metric tons of carbon capture capacity. The captured emissions are permanently stored or upcycled as clean fuel.

European carbon markets

In Switzerland, CarbonPool raised 10.5 million Swiss francs ($12 million) in seed funding to insure buyers in the event that carbon credits fail to deliver expected environmental gains. Wildfires and unmet promises have slowed the carbon offset market. Separately, Germany’s CEEZERclinched €10.3 million ($11.2 million) to use AI to screen, purchase and manage carbon offsets for corporate buyers.

Ireland’s Concrete4Change, which is developing technology to capture and mineralize carbon emissions in concrete, snagged £2.5 million ($3.2 million) in seed funding.