Vaulted Deep, a US-based company specializing in biomass carbon removal and storage (BiCRS), announced that it has secured $32.3 million in Series A funding.
The funding round was led by Prelude Ventures, joined by existing investors Lowercarbon Capital, Earthshot Ventures, and WovenEarth Ventures, along with newcomers Fall Line Capital and Rethink Impact.
For the nascent company, this funding marks a successful wrap-up of its first year of carbon removal operations.
A spin-off from Advantek Waste Management Services, Vaulted Deep has garnered the attention of investors with its ability to deliver durable carbon dioxide removal (CDR) services at an accelerated pace.
Vaulted Deep turns waste into a carbon-rich slurry and injects it into deep wells for permanent geologic storage.
This CDR approach offers a climate-friendly alternative to burning waste for disposal or leaving it in the open to decompose, while also preventing environmental pollution by safely storing away waste that is potentially pathogenic and contaminated.
As a co-benefit to its carbon removal effect, Vaulted’s waste disposal method also eliminates methane emissions, which the company doesn’t include in its credit accounting.
Leveraging the vast experience and elaborate infrastructure developed by Advantek, Vaulted is able to deliver rapid CDR services that provide a permanent solution.
Relevant: Vaulted Deep Delivers Carbon Removal To Frontier In Record Time
In its first year of existence, Vaulted Deep has managed to issue more than 7,000 tonnes of carbon dioxide removal, an industry milestone in regard to the fastest and highest rate of deliveries in the first year of operations.
Earlier this year, the company also signed a substantial $58.3 million offtake agreement with Frontier, committing to permanently remove 152,480 tonnes of CO2 between 2024 and 2027.
With a current pace of carbon removal of over 1,500 tonnes per month, Vaulted Deep intends to use the recently secured funding to expand its capacity, starting with a new US facility located in Monarch Fields.
Read more: Isometric Announces New Protocol For Subsurface Biomass Carbon Removal And Storage
