![]() ![]() “Our investment in CarbonCapture shows Rio Tinto’s commitment to supporting innovative technologies that can make a meaningful contribution to addressing the climate change challenge,” said Nigel Steward, Chief Scientist at Rio Tinto. The company’s first deployments will be with Rio Tinto and Talon Metals, with feasibility studies beginning in Q4 2021 at the Tamarack Nickel Project in central Minnesota. Further, CO 2 output purity can be lowered to align with storage strategies that do not require food-grade purity, such as injection into building materials, mine tailings, or geologic formations that mineralize CO 2.ĬarbonCapture is partnering with companies that are developing cutting-edge approaches to storing carbon in mineral form through natural chemical reactions. ![]() For example, for each ton of CO 2 captured from air, they can be set to also capture between 1 and 5 tons of pure water, which is particularly valuable in arid or drought-affected regions. In addition to being designed to use renewable energy sources, including solar and geothermal, a unique aspect of CarbonCapture’s DAC machines is that they are highly tunable. represents the spirit of innovation we need to solve our climate crisis, harnessing next-generation technologies to take carbon out of the atmosphere and avert the worst effects of climate change.” “Removing carbon from our atmosphere is one of the most effective and important ways to fight climate change,” said Marc Benioff. as having the winning tech and team in the field, and we are thrilled to partner with Adrian Corless and Bill Gross and provide the capital to scale this critical enterprise.” We are honored to participate in the very early stages of a new $500 billion plus industry,” said Brandon Simmons, general partner at Prime Movers Lab. “By 2050, DAC companies will capture upwards of 5 to 10 gigatons of CO 2 from the atmosphere each year. Equity financing raised by CarbonCapture since inception now totals more than $43 million. Also participating in the round was international mining and metals company Rio Tinto, Idealab Studio, Idealab X, Marc Benioff’s TIME Ventures, and several additional VC firms and family offices. Prime Movers Lab led the Series A investment. “This funding, in combination with our transformative technology, world-class team, and top-tier commercial partners, provides us with all of the necessary ingredients to quickly become the leading DAC company in the U.S.” Corless was formerly CEO of Canadian DAC company Carbon Engineering, where he successfully piloted the firm’s technology and built the company into a recognized leader in atmospheric carbon capture and synthetic fuels production. “I’m incredibly excited about the opportunity to lead CarbonCapture,” said CEO Adrian Corless. Moreover, they are already manufactured in very large quantities for multiple industrial applications, eliminating a major barrier to economically scaling DAC to gigaton levels. ![]() A class of molecular sieves, zeolites are inorganic, inexpensive, long-lasting, and non-toxic. To address this urgent need, CarbonCapture has developed a set of technical innovations that enable, for the first time, the use of zeolites for capturing CO 2 as part of a commercial DAC system. (TSX: TLO).Īnalyses by the UN Intergovernmental Panel on Climate Change show that humanity must remove billions of tons of CO 2 from the atmosphere in order to keep global warming to less than 2☌. CarbonCapture will use the funds to accelerate product development efforts and to establish initial deployments of its renewable energy-powered Direct Air Capture (DAC) systems in locations throughout the U.S., starting with the Tamarack Nickel Project in central Minnesota in partnership with Rio Tinto PLC (LSE: RIO) and Talon Metals Corp. (CarbonCapture), a climate tech company that makes machines that remove CO 2 directly from the atmosphere, today announced the closing of a $35 million Series A funding round and the appointment of Adrian Corless as CEO. PASADENA, Calif.-( BUSINESS WIRE)-Carbon Capture Inc. ![]()
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