EIC Rose Rock, an early-stage VC fund focused on energy technologies, made a direct investment into Captura, a Pasadena, California-based carbon removal company.
The amount of the deal was not disclosed.
EIC Rose Rock joined the Series A funding announced earlier this year and led by Equinor Ventures, with participation from Aramco Ventures, the California Institute of Technology, Future Planet Capital, Hitachi Ventures, mTerra Ventures.
The amount of the deal was not disclosed.
Led by Steve Oldham, CEO, Captura combines innovative technology with the natural carbon removal powers of the ocean to remove CO2 from the atmosphere at large scale and at an affordable cost, providing a critical capability in the fight against climate change. Its solution has been validated and supported by the Musk Foundation’s Carbon Removal XPRIZE, the Department of Energy’s ARPA-E, and Frontier Climate.
Plants can be situated either onshore or offshore. For early commercial facilities, the company expects to co-locate facilities with existing ocean-based infrastructure, such as desalination plants or decommissioned offshore wells.
Captura began ocean trials of its first pilot system in 2022 in Newport Beach, California. That system is capable of capturing one ton of CO2 from the ocean annually. Its next-generation pilot system will soon begin ocean operations at the Port of Los Angeles.
FinSMEs
11/08/2023