CarbonQuest, a leader in carbon capture technology, has raised $20 million in funding led by Riverbend Energy Group, with additional investments from Energy Capital Ventures and Aligned Climate Capital.
The capital injection will support the expansion of CarbonQuest’s proprietary Distributed Carbon Capture technology across North America and facilitate the hiring of top industry talent, the company said in a statement on Wednesday.
The funding aims to enhance system efficiency and lower the cost per ton of captured carbon. With six commercial deployments already completed, CarbonQuest plans to expand into markets that rely on onsite power or reuse carbon dioxide (CO2).
“This investment will accelerate our scaling efforts, allow us to hire more talent, and support the development of a diverse base of projects,” CEO Shane Johnson said in a comment.
CarbonQuest has been recognized by its investors as a key player in the carbon capture, utilization, and storage (CCUS) sector.
The company’s modular, solid-sorbent-based technology is seen as a scalable and cost-effective solution for industrial decarbonization.
Read more: CarbonQuest Announces Series A Funding To Advance Its Distributed CO2 Capture Technology
“CarbonQuest brings a stellar team and a critical decarbonization solution to a wide range of industries, including utilities, manufacturing, data centers, and facilities with onsite power,” said Vic Pascucci of Energy Capital Ventures, calling the company “a game-changer in green molecules innovation.”
Peter Davidson, CEO of Aligned Climate Capital, stated that “commercial and industrial facilities across the country urgently need cost-effective carbon capture solutions,” underscoring the investment’s role in scaling the technology.
Riverbend Managing Director Joe Passanante echoed this sentiment, expressing confidence in CarbonQuest’s ability to accelerate growth.
CarbonQuest continues to strengthen its commercial presence. In December 2024, it signed a Memorandum of Understanding with Carbfix, a CO2 mineral storage operator, to explore carbon capture and mineralization opportunities.
Additional partnerships and projects are in development to address emissions in hard-to-abate industries.
Relevant: CarbonQuest And Carbfix To Expand Carbon Capture And Mineralization In North America
