Heirloom Carbon Technologies, a direct air capture (DAC) company, has just announced that it has successfully raised $53 million in equity financing.
Carbon removal technologies have become more talked about lately. The IPCC has made it clear that we must collectively and permanently remove tens of billions of tons of carbon dioxide from the air to maintain a sustainable standard of living on Earth — in addition to carbon avoidance and reduction efforts. This has encouraged individuals and corporations to buy carbon removal credits and invest in carbon removal technologies.
The company has already managed to attract some notable customers, such as Stripe and Shopify. This particular financing marks one of the largest private fundings in the direct air capture industry to date, and was apparently led by the clean technology fund Breakthrough Energy Ventures. The funds raised will finance additional research, development, and the deployment of Heirloom’s technology.
This funding round shows how carbon removal technology is gaining momentum. In other carbon removal news, there is the recent
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