Captura Gets Two New Investors, Reaches $45.3M In Series A Funding

Captura Gets Two New Investors, Reaches $45.3M In Series A Funding Round - Carbon Herald

Direct ocean capture (DOC) company Captura has further increased its Series A funding to US$45.3 million as National Grid Partners and Japan Airlines Innovation Fund, owned by Japan Airlines (TYO: 9201) and managed by Translink Capital, join as new investors.

The inclusion of these two new partners, alongside existing investors, underscores confidence in Captura’s unique DOC technology, the company said in a statement Thursday.

This innovative method, which leverages the ocean’s natural carbon absorption capabilities to combat climate change, has garnered attention as a promising carbon removal solution, hailed for its cost-effectiveness and scalability.

Building upon previous Series A funding increases announced in January 2024 and January 2023, Captura demonstrates rapid progress in its commercialization strategy.

With two pilot plants in California that are already operational, and plans for a new facility in Norway in partnership with Equinor (NYSE: EQNR), the startup aims to annually remove tens of thousands of tons of atmospheric carbon dioxide (CO2).

Relevant: Captura Raises $21.5M From Expanded Series A Round

Takao Suzuki, Executive Officer and Senior Vice President of Innovation at Japan Airlines (TYO: 9201), highlighted the significant potential in Captura’s advanced DOC technology, emphasizing its efficiency in capturing CO2 and exploring alternative uses like e-fuels to contribute to society’s environmental goals.

Captura’s DOC technology directly extracts CO2 from the ocean, enhancing its natural carbon absorption capacity.

The captured CO2 can be stored for carbon removal purposes or utilized to produce sustainable products like low-carbon fuel, offering a vital solution for hard-to-abate sectors such as aviation and shipping.

By tapping into the ocean’s higher CO2 concentration compared to the air, Captura’s process efficiently addresses excess atmospheric CO2 without introducing new substances to the ocean.

It operates without added absorbents, by-products, or environmental impact, simply removing excess CO2 for natural replenishment by the atmosphere.

Kristian Bodek, Director of Corporate Venture Capital at National Grid Partners, expressed excitement in supporting Captura’s DOC technology, a move well aligned with its aspirations in sea-based electric network development and its goal to achieve net zero greenhouse gas (GHG) emissions by 2050.

Read more: Ecospray And Captura Partner On Breakthrough Seawater CO2 Removal Project

Leave a Reply

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

Related Posts
Translate »