Carbon America is looking to make the global climate crisis a thing of the past by becoming the world’s first end-to-end vertically integrated carbon capture and sequestration (CCS) project developer.
But what does that mean exactly and why is this significant for the budding carbon industry?
Carbon America has a unique, multi-faceted approach to tackling the climate crisis and it does so, as the company’s CEO Scott Frazier describes it, in three stages.
First, the CCS super developer addresses CO2 emissions from what it considers to be the easiest-to-abate sectors, such as ammonia and ethanol production facilities by utilizing existing carbon capture tech.
Next, the company aims to use proprietary, in-house technology to remove carbon dioxide from less concentrated flue gas sources, such as fossil fuel production sites.
And finally, the third stage of its operations involves deploying ambient carbon capture solutions that will remove carbon emissions from the atmosphere.
With this Carbon America demonstrates an ability to respond to the urgency of the issue at hand while making use of its project management and development expertise and adding new carbon capture and removal solutions to the carbon industry.
Just last month, the company secured $30 million in a Series A funding round to scale up its technology and launch commercial projects.
Some of the investors are funds such as Energy Impact Partners, ArcTern Ventures, the Canada Pension Plan Investment Board (CPP Investments) and others.
Shareholders will also have the opportunity to invest another $15 million by April this year to further advance the company’s speedy development.
And seeing as how the company is well-equipped to supercharge growth in the rapidly expanding and much-needed sector that is carbon capture and carbon removal, further funding could very well propel Carbon America to one of the leading positions in the fight against climate change.