Squamish-based Carbon Engineering has announced the completion of an equity financing round of US $68 million, marking the largest private investment made into a Direct Air Capture (DAC) company to date.
This $68M financing will allow CE to commercialize and enter mainstream markets with its fully demonstrated DAC technology that is able to capture and purify atmospheric carbon dioxide (CO2) for under USD$100/tonne.
Investors in the financing round include Microsoft co-founder Bill Gates, Chevron Technology Ventures and Murray Edwards, executive chairman of Canadian Natural Resources Limited, among others.
Speaking about the investment, Carbon Engineering’s Chief Executive Officer, Steve Oldham said, “This financing round – the largest of its kind into a DAC company – shows the growing recognition of both the benefits and commercial readiness of our DAC technology. As the world assesses how to address climate change while keeping economies running with the energy they need, our technology can provide a key part of the solution.
Read more in the related press release.