Applied Carbon has raised a $21.5 million Series A funding round led by TO VC, with participation from Congruent Ventures, Grantham Foundation, Microsoft Climate Innovation Fund, S2G Ventures, Overture.vc, Wireframe Ventures, Autodesk Foundation, Anglo American, Susquehanna Foundation, US Endowment for Forestry and Communities, TELUS Pollinator Fund for Good, and Elemental Excelerator.
Read also – [Funding News] Layer2 Financial Raises $10.7 Million Series A Funding
The funding will be used to deploy a fleet of biochar machines across Texas, Oklahoma, Arkansas, and Louisiana, delivering high-durability carbon removal and agricultural services. The company was also recently named a top-20 global finalist in the XPRIZE Carbon Removal competition and a semifinalist in the Department of Energy’s (DOE) CO2 Removal Purchase Pilot Prize.
Read also – [Funding News] Spring Health Secures $100 Million Series E Funding
By utilising a mobile, in-field solution to convert field waste to biochar, Applied Carbon keeps carbon where it matters most while dramatically cutting costs from the typical approach of shipping massive amounts of bulk material to and from centralised facilities.
“Multiple independent studies indicate that converting crop waste into biochar has the potential to remove gigatons of CO2 from the atmosphere each year while creating trillions of dollars in value for the world’s farmers,” said Jason Aramburu, co-founder and CEO of Applied Carbon. “However, there is no commercially available technology to convert these wastes at low cost. Applied Carbon’s patented in-field biochar production system is the first solution that can convert crop waste into biochar at a scale and a cost that makes sense for broad-acre farming.”
“We’ve been looking at the biochar sector for over a decade, and Applied Carbon’s in-field proposition is incredibly compelling,” said Joshua Posamentier, co-founder and managing partner of Congruent Ventures. “The two most exciting things about this approach are that it profitably swings the agricultural sector from carbon positive to carbon negative and that it can get to world-scale impact on a meaningful timeline while saving farmers money.”
About Applied Carbon
Founded in 2020, Applied Carbon is on a mission to develop and scale groundbreaking technologies that regenerate our soils and sequester atmospheric carbon by the gigaton for the betterment of people and planet. Applied Carbon technology leverages natural thermal processes and precision automation to convert crop residues into biochar, a stable form of carbon that builds soil health and stays out of the atmosphere permanently.
