The Chan Zuckerberg Initiative (CZI) has announced another round of investments in carbon removal tech that tackles CO2 emissions.
The technology is receiving more support from CZI founders Priscilla Chan and Mark Zuckerberg with Twelve, Elemental Excelerator, and UCLA all receiving a total of $44 million to bolster their research and growth.
“Scaling carbon removal to a consequential level will require massive advances in technology and innovation,” said the CZI co-founders. “We also partnered with Watershed to purchase carbon removal credits from several companies to help scale promising technologies.”
The Initiative has made clear that they feel this is the best approach to tackling climate change and global warming and have taken their lead from the opinion of scientists and researchers from the IPCC.
Chemical company Twelve will receive $20 million as a strategic investment to work on CO2 electrolysis and allow it to scale the technology which they have been working on. This follows their trials with the U.S. Air Force where initial tests showed the technology is already deployable and scalable.
UCLA’s Institute for Carbon Management is the other big beneficiary. Its grant will help the institute with its work on three promising CO2 removal technologies already under development there.
The third notable investment is for Elemental Excelerator. The $500,000 grant the startup accelerator will support ongoing work that helps early-stage climate tech companies with their market entry and scaling.
This is not the first round of Chan Zuckerberg Initiative investments in carbon dioxide removal companies. Back in October it awarded $21 million to startups working in CO2 removal, as well as $10 million grant to a broader range of organizations working on decarbonization tech.