Zero Carbon Systems Buys Global Thermostat To Create Leader In DAC Technology

Zero Carbon Systems Buys Global Thermostat To Create Leader In DAC Technology - Carbon Herald

Direct air capture (DAC) company Zero Carbon Systems has acquired Global Thermostat, bringing together Global Thermostat’s cutting-edge technology with Zero Carbon Systems’ advanced engineering capabilities.

David Elenowitz, founder and CEO of Zero Carbon Systems, expressed excitement about the acquisition in a joint statement published Wednesday.

Elenowitz, who co-invented Zero Carbon Systems’ innovative engineering design, has been operating the company in “stealth mode” since 2020.

He previously invested in Global Thermostat through Zero Carbon Partners, an investment firm he founded in 2019 with $100 million of his personal capital.

Edgar Bronfman, Jr., chairman of Global Thermostat, stated that the decision for the acquisition was made in order to leverage Zero Carbon Systems’ advanced design, experienced management team, and substantial financial resources.

The combined strengths of both companies are set to position them as a market leader in the DAC industry, he said.

Relevant: Global Thermostat Unveils New Design For A Direct Air Capture System

Zero Carbon Systems plans to operate a 2,500-ton per year demonstration plant by 2025-2026, followed by a 50,000-ton commercial plant two years later, and a million-ton scale plant by 2030.

This progression aims to achieve highly scalable, low-cost, and energy-efficient carbon dioxide removal (CDR) at a megaton scale, crucial for addressing climate change.

Elenowitz, formerly of Mercury Capital, has a track record of growing companies, including flooring company Empire Today which he grew from $40 million to $700 million in revenues as CEO before his successful exit in 2016.

The acquisition of Global Thermostat marks a significant step toward scalable carbon capture solutions, combining the best technologies and expertise to combat climate change effectively, Elenowitz said.

For its DAC technology, Global Thermostat employs a proprietary solid sorbent embedded on a monolith, along with a low-temperature vacuum adsorption process, to efficiently capture carbon dioxide (CO2) from the air on a large scale.

Since December 2022, a pilot unit with a capacity of 1 kiloton per year has been operating successfully at the company’s headquarters near Denver, Colorado.

Read more: Global Thermostat Attracts New Investor Sumitomo Corporation

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