One of the longstanding members of the direct air capture (DAC) industry Carbon Collect has announced several technological milestones and that it is raising funds in a pre-seed round before its Series A which will happen in next few months.
Pól Ó Móráin, CEO of Carbon Collect, said: ” Carbon Collect has listened to the market, collaborated with world-class experts, and is now delivering a solution that is more efficient, scalable, and cost-effective than anything that has come before it. We are excited to bring this update on the launch of our second-generation MechanicalTree™ to investors. It represents a major milestone not just for Carbon Collect, but for the entire Direct Air Capture industry.”
The company’s Gen-II Technology now has the ability to capture CO2 at a substantially lower cost via improvements in sorbent materials, energy recovery and its regeneration process.
Scalability was also one of the priorities when the design of this new iteration was being worked. This will allow different types and sizes of clients to deploy it regardless of the size of the clusters they plan to develop.
One of the first deployments will be in the Southwest Regional Direct Air Capture Hub (SEDAC), one of the projects that have received strong backing from the DOE.
Though the company hasn’t shared the current price for capturing CO2 (which will likely vary depending on the scale of deployment at individual sites and energy costs), Carbon Collect has said that this generation of the technology keeps it on track to achieving DAC below $200 per ton by 2030.
The company will continue working with Arizona State University where the technology’s inventor and carbon capture pioneer Professor Klaus Lackner is a lecturer. Gen-II MechanicalTree will be installed by the end of 2024, serving as a demonstration before commercial rollout next year.
Read more: Carbon Collect Raises $12M For Mechanical Tree Technology
