Mission Zero Raises £21.8M Series A To Scale Mass Deployable DAC Facilities

Mission Zero Raises £21.8M Series A To Scale Mass Deployable DAC Facilities - Carbon Herald
Credit: Mission Zero Technologies

Mission Zero Technologies, an innovative direct air capture (DAC) company, announced on March 18th a total of £21.8 million ($27.7 million) Series A funding round that will help accelerate DAC deployment. Participants in the investment round are 2150, Breakthrough Energy Ventures, World Fund, Fortescue, and Siemens Financial Services.

According to the company’s press release, the partners will help it rapidly scale its direct air capture (DAC) technology around the world to unlock megatonne annual CO2 removal capacity by the end of the decade.

The company is also aligned with partners who are driven by making positive climate impact at scale, with the vision and commitment to deliver it as quickly as possible. The new investors join its existing community of dedicated, climate-first pioneers like Deep Science Ventures, Anglo American, Stripe, Klarna, Deep Sky, and the XPRIZE Foundation.

Since 2020, the company has been working to scale a versatile technology capable of efficiently recovering CO2 from the atmosphere. Its goal is to reinvent humanity’s relationship with carbon for a thriving planet – re-balancing the climate and unlocking a new, sustainable carbon source to replace fossil fuels.

It has connected its technology to pioneers in the carbon removal and utilization space and by the end of 2024, it aims to have three fully-funded first-of-a-kind systems on the ground in projects pioneering CO2 mineralization, carbon-negative building materials, and sustainable aviation fuel.

Relevant: Mission Zero Technologies Deploys Its First DAC System Sold To The University Of Sheffield

Mission Zero’s electrochemical DAC technology is built for rapid scaling, being cost-effective at a smaller scale, leveraging proven components and established supply chains, and following a modular design for easy global deployment. This has allowed it to start deploying first-of-a-kind systems capable of recovering up to 250 tonnes of CO2 a year from the atmosphere.

The new funding round will catalyse the next chapter in its scaling journey – accelerating the development of a mass deployable DAC product with a recovery capacity of 1,000 tCO2 per year. The milestone follows a three-and-a-half years of rapid growth, where Mission Zero has moved beyond self-financed R&D pilot plants to commercially funded deployments with international customers.

Relevant: Mission Zero Technologies Attracts $5M In New Funding Round

“Our new partners’ manufacturing acumen and deep alignment with our vision will be catalytic in allowing us to scale DAC rapidly and responsibly for maximum positive climate impact,” commented Dr Nicholas Chadwick, Mission Zero CEO.

“Mission Zero has gone from concept to commercial deployments in just three years and built a team with the technical talent and drive to rapidly deploy the most competitive DAC in the market,” also added Christian Jølck, Co-founder and Partner at 2150.

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