CarbonQuest, a Spokane, WA-based distributed carbon capture technology provider, raised an undisclosed amount in Series A funding.
Riverbend Energy Group made the investment. As part of the transaction, Joe Passanante and Eric Danziger will join CarbonQuest’s Board of Directors.
The company intends to use the funds to expand operations, its business reach and development efforts.
Led by Shane Johnson, President and CEO, and Dave Curry, Chairman, CarbonQuest provides a modular solution that captures CO2 from buildings and onsite power generation systems before it is emitted to the atmosphere. The captured CO2 is then liquified and transported to local businesses that need carbon for their production processes. By introducing its technology and Sustainable CO2™ into the market, it enables its customers to support a circular economy while meeting ESG and net-zero goals with a cost-effective, turnkey solution.
The company aims to achieve its goal to deliver the lowest $/ton in the industry and address new market segments including biogenic sources of CO2, utility infrastructure, and other “hard-to-abate” facilities. It will also advance development of its Carbon Management Software™, which provides real-time data and analytics to track the capture of the CO2 and its delivery to customers.
FinSMEs
08/08/2024