ImpactAlpha, October 20 — Direct air capture technology that can remove billions of tons of carbon from the atmosphere may be critical in keeping global warming below 2°C.
L.A.-based CarbonCapture says its modular clean energy-powered machines can be connected in large arrays to suck up carbon using zeolite, a cheap and non-toxic mineral.
Companies using direct air capture technology “will capture upwards of five to 10 gigatons of CO2 from the atmosphere each year by 2050,” said Brandon Simmons of Prime Movers Lab, which led the Series A round.
Participating investors include Rio Tinto, Idealab Studio, Marc Benioff’s TIME Ventures and several family offices and venture capital firms.
CarbonCapture has raised a total of $43 million in equity. The new financing will let it deploy its systems with U.S. local partners. Adrian Corless, ex- of Canadian carbon capture company Carbon Engineering, will become CEO.