CREW Carbon has secured $25 million in funding through an oversubscribed Series A round that will support the scaling of its wastewater treatment optimization technology. The funding includes $19 million in equity and $6 million in grant and other non-dilutive funding.
Led by Burnt Island Ventures, the round also saw participation from AP Ventures, Sony Innovation Fund, Builders Vision, Kibo Invest, Idemitsu Ventures, New York Ventures, and family office investors, who joined existing backers Counteract, ANIMO Ventures, Connecticut Innovations, Ponderosa Ventures, and Echo River Capital.
With this financial boost, CREW will work on unlocking more partnerships with wastewater treatment plans, providing them with its patented technology that helps utilities get more out of their existing infrastructure.
The company’s solution integrates into existing wastewater processes, where it doses the wastewater with minerals such as limestone. This creates an efficient and cost-effective alkalinity treatment process that permanently converts CO2 into inert, dissolved bicarbonate ions, creating a carbon removal pathway.
Additionally, CREW’s technology boosts the settlability and reduces the reliance on costly chemicals, increasing the plant capacity and efficiency, while lowering both capital and operating expenses.
Its approach has been recognized by many major buyers, who have invested in its verified carbon removal credits, including frontrunners such as JP Morgan, Google, Autodesk, Stripe, and others who have collaborated with CREW through Frontier. Besides these deals, the company has also signed a number of other long-term offtakes.
Tom Ferguson, Partner at Burnt Island Ventures, commented that CREW’s water technology is driving jaw-dropping results for wastewater customers.
Relevant: The Colorado Energy Office Awards $2.35M To CREW Carbon And Its Wastewater Treatment CDR Tech
“On top of the improvements they deliver to wastewater utilities, CREW’s precise measurement of permanent carbon removal is highly differentiated in the crediting market and empowers carbon credit buyers to know exactly what they are paying for,” he added.
“Together, CREW’s technology and business model are aligning good environmental outcomes with the bottom line for a massively impactful industry.”
Looking ahead, CREW will focus on establishing cooperative relationships with more wastewater utilities as well as expanding its team of talents to fortify the company’s growth journey ahead.
Read more: CREW Carbon Delivers Pioneering Wastewater Alkalinity Enhancement Credits Verified By Isometric
