Ucaneo, a company pioneering Direct Air Capture (DAC) technology for removing carbon dioxide from the atmosphere, has secured €6.75 million (~$7.45 million) in seed funding.
This investment, led by major hardware and industrial energy investors, will propel Ucaneo, an alumnus of remove’s accelerator program, to the forefront of a revolutionary field.
The funding round included both new and existing investors in Ucaneo. Leading the charge were Smart Energy Innovationsfonds (SEIF) by Energie 360° and IBB Ventures, along with newcomers like the Plug and Play Sustainability Fund. Existing investors, including Grantham Environmental Trust and a group of prominent angels, also participated.
With this investment, Ucaneo will aim to produce enough carbon removal technologies to remove 0.5 gigaton of CO2 from the atmosphere by 2035.
The company’s proprietary solution, mimicking the human lung in an innovative electrochemical process, can either be deployed by Ucaneo themselves or implemented by other DAC companies to faster scale engineered carbon removal.
Florian Tiller, Ucaneo Co-Founder and CEO, told the Carbon Herald: “Our goal is to focus only on removing CO2 from the air. After that, we are very flexible in terms of what to do with the carbon. We are currently in talks with potential partners that can store the captured emissions or use them to create products of value envisioning Ucaneo becoming the first step in any carbon value chain.”
Relevant: Carbyon To Scale DAC Technology With New $16.93M Funding
Inspired By Nature, Engineered For Impact
Ucaneo’s groundbreaking technology mimics the human lung’s ability to manage CO2. Utilizing electricity and a specially designed biomimetic solvent, the system continuously captures and concentrates atmospheric CO2 into a pure gas at room temperature.
This energy-efficient DAC system can even run on variable renewable sources like solar and wind power, offering flexible and cost-effective CO2 removal on-demand.
“To scale carbon removal, we need accelerated hardware development! Ucaneo’s technology is designed for rapid iterations, our own so called interchangeable modular product architecture. To reach cost-effectiveness already at a smaller scale, we are leveraging proven components, established supply chains and a modular design suitable for global deployment.” said Carla Glassl, Ucaneo Co-founder and CTO.
Read more: Milkywire Announces Thirteen Finalists For Climate Transformation Fund
