Captura, a Pasadena, CA-based direct ocean capture company, expanded its Series A to a total of US$45.3.
New backers included National Grid Partners and Japan Airlines Innovation Fund/Translink Capital.
The company intends to use the funds to expand operations and its business reach.
Captura is a direct ocean capture company that combines innovative technology with the natural carbon removal powers of the ocean to remove CO2 from the atmosphere at large scale and low-cost, providing a critical capability in the fight against climate change.
Captura was founded at Caltech and its solution has been validated and supported by the Musk Foundation’s Carbon Removal XPRIZE, the Department of Energy’s ARPA-E, and Frontier Climate.
This latest increase in funding followed two recent, previously announced round in January 2024 and January 2023 highlighting the rapid progress of Captura’s commercialization strategy. With two fully operational pilot plants in California and an upcoming pilot plant to be installed in Norway in late 2024 in partnership with Equinor, its first commercial deployments are expected to remove tons of atmospheric carbon dioxide (CO2) annually.
FinSMEs
12/04/2024