a year ago

44.01 Raises €33.9 Million to Scale CO2 Mineralization Technology

  • 44.01, a London-based climate tech company, has raised €33.9 million in Series A funding led by Equinor Ventures

  • The company's technology turns CO2 into rock using mineralization, a natural process that permanently removes carbon from the atmosphere

  • The investment will be used to refine the technology, develop commercial-scale projects, and expand internationally

  • The round also saw participation from several other investors, including Shorooq Partners, Amazon's Climate Pledge Fund, and Breakthrough Energy Ventures.

      • ProblemTechnology

      "Climate change is a major threat to the planet, and reducing carbon dioxide emissions is crucial. Direct Air Capture (DAC) technology is a promising solution for removing CO2 from the atmosphere, but many DAC methods have limitations. Traditional DAC technologies require a lot of energy and resources, and they are not always sustainable. "

      Solution

      "44.01 has developed a unique way to remove CO2 from the atmosphere permanently by turning it into rock. This process is called mineralisation, and it’s a natural process that 44.01 has accelerated. The technology can be used to remove CO2 from the air or from industrial processes, helping decarbonize vital industries and ultimately return the atmosphere to sustainable levels of CO2. The process is safe, scalable, and permanent, offering a more sustainable and long-term solution compared to other approaches."

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