On March 29th, XPRIZE Foundation – a leading non-profit organization that designs and hosts public competitions intended to boost the cleantech economy, hosted a webinar “Market Insights: The Circular Carbon Economy” which presented a new report issued by the Circular Carbon Network.
The analysis titled Circular Carbon Network Market Report tracks investments’ interest in the sector and represents one of the most comprehensive data on early-stage innovators in several circular carbon sectors. The data represents around 60% of all startups working in the space today.
The circular carbon is broken down into four main categories: CO2 removal, CO2 conversion, point source capture and circular carbon market infrastructure (CCMI). The report does not cover data from the sectors emission reductions, renewable energy, electric vehicles, renewable energy, or electric vehicles and batteries.
The data is gathered from nearly 700 circular carbon companies. It shows that over the last two decades, innovators have cumulatively raised $5.77 billion, and $2.69 billion in 2022 alone. The numbers are a sign that the market is starting to mature and the world is getting closer to scaling circular carbon capture and carbon removal climate solutions. Furthermore, a quarter of the 700 companies have been established since 2020.
A significant number of the companies (488) are in the carbon removal sector, 274 are working on CO2 utilization, 98 – point source carbon capture and 70 companies are in the carbon capture infrastructure sector.
The reported revenue range for companies is cumulative $971 million – $2.46 billion with over 30% of companies founded since 2020 already generating revenue. The most common commercial stage is pre-commercial pilot, followed by early commercial demonstration and growth stages.
175 deals amounting to $2.47 billion in total investment opportunities were tracked in 2022 alone which shows investments into the sectors are growing. The carbon removal space has managed to reach over $1.29 billion of cumulative investments followed by point source capture ($751 million).
The webinar also gathered representatives from leading companies in the space like Global Thermostat, Charm Industrial and Carbon Upcycling Technologies. They shared more insights on the current state of the circular carbon industry and the importance of investors’ engagement for the companies’ performance.