Techcouver named Arca Climate Technologies one of 10 homegrown B.C. startups to watch in 2024 and apparently we were right.
Earlier this year the Vancouver company picked up the Startup of the Year award at the BC Cleantech Awards and they are currently a top 20 finalist in the prestigious XPRIZE Carbon Removal competition.
They continue to confirm our foresight with the recent news that they have landed an undisclosed investment from InBC.
InBC is a strategic investment fund created by the Province of British Columbia with $500 million to invest in growing companies and venture funds to benefit the people of B.C.
With a triple bottom line mandate to value people, planet and profit, InBC invests to generate financial returns alongside measurable economic, social and environmental impacts for the province.
Arca most definitely meets that mandate with its carbon dioxide (CO2) removal technology that transforms carbon dioxide from the atmosphere into rocks for permanent storage.
Spun out of the University of British Columbia by a team of scientists and entrepreneurs with a desire to address climate change, Arca’s breakthrough technology significantly speeds up the natural process of carbon mineralization occurring in ultramafic rocks.
The company is partnering with the critical minerals industry where ultramafic rock is abundant in the form of mine tailings.
“Arca is absolutely thrilled to be working with InBC. Our purpose is to stabilize the climate by capturing atmospheric CO2 and transforming into rock, where it is safely stored forever. This investment will help us continue to grow our team here in B.C. and build strategic partnerships with global producers of critical metals,” shared Paul Needham, CEO of Arca.
“With IP invented right here at the University of British Columbia, and this investment from InBC, Arca is another example of B.C.’s climate leadership.”
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