Octavia Carbon Secures Capital For DAC Technology Development

Octavia Carbon Announced 950 Tons Pre-Purchase Carbon Credits From Klimate.co - Carbon Herald

Kenya-based climate solutions startup Octavia Carbon has received funding to develop its Direct Air Capture (DAC) technology. This funding will enable the company to advance its efforts to reduce carbon emissions and combat climate change on a global scale.

The funding is provided by Renew Capital, a firm that specializes in impact investments in Africa and supports entrepreneurs who aim for growth. The firm oversees investments for Renew Capital Angels, a worldwide group of angel investors, foundations, and family offices interested in both financial returns and long-lasting social impact.

Octavia Carbon is a company that provides the opportunity to purchase carbon credits, enabling businesses and individuals to compensate for their carbon emissions at an affordable price while also contributing to the pursuit of climate fairness for communities in Kenya.

It aims to fight climate change by creating, constructing, and implementing devices that can directly capture atmospheric CO2 through DAC technology. The captured carbon can then be implemented into new products, like aviation fuels, or stored securely underground.

Relevant: Octavia Carbon Partners With Klimate.co To Scale Direct Air Capture In Kenya

Octavia Carbon is harnessing Kenya’s natural geothermal resources, geological characteristics, and skilled workforce to operate in a cost-efficient manner. The company’s goal is to establish Kenya as the most cost-efficient center for constructing and deploying DAC machines globally by 2025.

Esther Mwikali, Investment Manager at Renew Capital, expressed confidence in Octavia Carbon’s potential, stating, “Octavia Carbon’s innovative technology and recognition of the growing demand for durable and verifiable carbon credits in the carbon market continues to position Africa as an active contributor to global climate solutions.”

Read more: Octavia Carbon And Cella Mineral Storage To Build A Pilot Direct Air Capture Plant In Kenya

The company’s dedication to advancing carbon capture technology aligns with the growing worldwide demand for more effective and efficient strategies to curb carbon emissions and protect the environment.

“Carbon capture technologies have a crucial role to play in addressing climate change,” stated Martin Freimüller, founder and CEO of Octavia Carbon. “Our DAC technology will help reduce carbon emissions in the global pursuit for a net-zero future.”

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts
Translate »