Andes Completes $30 Million Series A Funding For Carbon Removal Technology

Andes Completes $30 Million Series A Funding For Carbon Removal Technology - Carbon Herald
Image: Maksim Safaniuk/Shutterstock

Climate tech startup Andes, which uses microorganisms to remove CO2 from the air, announced on March 16 that the company has raised an additional $15 million bringing its Series A to $30 million. 

Until now, the startup has raised a total of $38 million from investors such as Voyager VC, Yamaha Motor Ventures, Leaps by Bayer, and others. The new funding will allow Andes to offer its CO2 removal credits to organizations of all sizes, expand its partnerships with farmers, and advance its microorganism technology.

“Catastrophic climate disasters that jeopardize human life and natural resources are inevitable without high-permanence, scalable carbon sequestration,” said Gonzalo Fuenzalida, CEO and co-founder of Andes. “Andes is proud to transform the carbon dioxide removal industry with the tools that are required for a brighter, livable future for all.”

Relevant: Top 10 Carbon Removal Marketplaces In 2023

Last year, the startup partnered with farmers throughout the U.S. Midwest to establish technology across 25,000 acres. According to a company’s press release, farmers who enter Andes’ Carbon Removal Program can boost their net income of operations by as much as 25%. This year, Andes marked a three-fold increase in interest in their technology from farmers.

With the new capital, Andes will be able to make its CO2 removal credits available to organizations of all sizes and diverse industries. The company also continues developing its biological nitrogen technology, which integrates with seeds and allows farmers to transition to reliable, eco-friendly products. 

Recently, Andes was chosen as one of 15 starting companies to take part in the Amazon Web Services (AWS) Accelerator 3.0. The program’s goal is to tackle climate change by supporting innovation among mature startups that work on clean energy technologies.

Read more: 2022 Review: Not Enough Companies Are Buying Carbon Removal

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts
Translate »