Sopoong Ventures, a South Korean venture capital fund, announced it has invested in Silicon Valley-based startup Capture 6. The funding will go toward supporting direct air capture technology as a means to achieving carbon neutrality in Korea and beyond.
Capture 6 specializes in a cost-efficient direct carbon air capture technology that utilizes input sources such as seawater or water treatment sites.
The process includes capturing carbon dioxide from ambient air or point sources such as flue gas. It provides clean water resources for agricultural or commercial usage and drinking water.
Relevant: South Korea’s NH To Target Agricultural Carbon Credit Market
The company’s approach to integrating the direct air capture system into existing industrial sites has brought down the cost of the technology from $250 to $600 per ton to under $200 per ton. Direct air capture technology is expected to play an instrumental role in achieving Korea’s target of reducing greenhouse gas emissions by 24.4% by the end of the decade.
Captured carbon can produce various carbon-negative products, said Han Sang-yeop, CEO of Sopoong Ventures, adding that the technology is among the top five climate technologies in South Korea.
About Capture 6
Capture 6 has developed a pipeline of facilities that can capture millions of metric tons of carbon dioxide annually. Their approach can be widely deployed through the repurposing of a set of existing industrial-scale technological solutions. The company aims to reach a gigaton scale in the next 20 years.
About Sopoong Ventures
Sopoong Ventures invests in early-stage climate tech startups with a focus on agriculture, energy, food, and the circular economy in Southeast Asia.
Read more: Here Is How South Korea Plans To Support Carbon Capture Utilization And Storage
