CA-based Captura secures US$21.5million in series A round funding. Maersk Growth, Eni Next, Equinor Ventures, Future Planet Capital, Hitachi Ventures, Aramco Ventures, mTerra Ventures, and EIC Rose Rock Venture Fund were among the investors who took part in the round.
The funds will be utilised by the company to expand both its operations and its clientele.
Under the direction of CEO Steve Oldham, Captura is a Direct Ocean Capture company that uses technology in conjunction with the ocean’s inherent ability to take carbon dioxide from the atmosphere on a massive scale for a low cost, making it an essential tool in the fight against climate change.
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Captured CO2 can be stored indefinitely or converted into fuel with reduced greenhouse gas emissions, offering a versatile and potent means of assisting challenging industries to achieve net zero emissions.
In collaboration with Equinor, Captura is building its third pilot plant in California, adding to its current two operational ones. This plant will be erected in Norway in the autumn of 2024 and has an annual capacity to capture 1000 tonnes of CO2.
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After this pilot, the company intends to transition into large-scale commercial deployments, with initial plants capable of capturing at least tens of thousands of tonnes of CO2 per year. The Department of Energy’s ARPA-E, Frontier Climate, and the Musk Foundation’s Carbon Removal XPRIZE have all validated and backed the approach.
About Captura
The ocean is one of nature’s most potent forces and their best friend in the fight against climate change. Through an analysis of the planet’s natural cycles, Captura created a method known as “Direct Ocean Capture” that extracts CO2 from the ocean and uses it to restore the climate.
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