Heirloom, a San Francisco, CA-based direct air capture company permanently removing CO2from the atmosphere, raised $53M in Series A funding.
The round was co-led by Carbon Direct Capital Management, Ahren Innovation Capital, and Breakthrough Energy Ventures, with participation from The Microsoft Climate Innovation Fund. The Series A financing also includes investments from climate funds and entrepreneurs, including Breyer Capital, Grantham Environmental Trust, Chris Sacca’s Lowercarbon Capital, Marc Benioff’s TIME Ventures, Carbon Removal Partners, and Seven Seven Six. Over the last year, Heirloom has also received grant funding from the ARPA-e and the National Science Foundation. Alice Newcombe-Ellis of Ahren will join Heirloom’s board of directors.
The company intends to use the funds for continued research and development, and their first deployment.
Led by Shashank Samala, Co-founder and CEO, Heirloom is using abundant and affordable minerals, a modular system, and leverages mature technology and infrastructure to enhance natural processes to help minerals absorb CO2 from ambient air in days rather than years.
The company’s mission is to remove 1 billion tons of CO2 from the atmosphere by 2035.
FinSMEs
17/03/2022