Italy’s first climate tech startup working with DAC technology, CarpeCarbon, has raised a substantial €1.7 million ($1.9 million) in funding to further advance its mission of removing CO2 from the atmosphere for reuse in various industrial applications.
This funding comes as part of CDP Venture Capital’s Tech4Planet initiative, which aims to support innovative projects that have a positive impact on the environment.
The Turin-based startup plans to use the investment to design the first Italian DAC plant in Piedmont, marking a significant step forward in the country’s efforts to combat climate change.
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Unlike carbon capture methods that occur at the point of emission, CarpeCarbon’s approach allows for the filtration of CO2 directly from the atmosphere at any location.
This captured carbon dioxide can then be stored below ground and utilized in a wide range of industrial applications, such as creating sustainable aviation fuels, manufacturing pharmaceuticals, recycling batteries for electric vehicles, producing environmentally-friendly construction materials, making carbonated beverages, and producing decaffeinated products.
Giuliano Antoniciello, the co-founder and CEO of CarpeCarbon, expressed his strong belief in the ambitious yet essential goals of their entrepreneurial project in order to align with the climate goals and the Paris Agreement.
He shared that he feels proud of the young, enthusiastic, and highly skilled team behind the project, who together have more than 65 years of education, including master’s and PhDs in STEM disciplines like carbon capture chemistry and energy engineering.
On behalf of the technology transfer fund at CDP Venture Capital, Claudia Pingue was equally thrilled and shared that she is proud to be involved in bringing the CarpeCarbon concept to the market through the Tech4Planet Technology Transfer Pole.
The funding for the new plant’s design demonstrates a growing interest and investment in sustainable technologies, and the new CarpeCarbon DAC plant is poised to play a crucial role in addressing carbon emissions and supporting a more environmentally friendly industrial landscape.