A $50M Series A?! In this economy?
Aircapture recently raised a big round at a time when big raises in climatetech are hard to come by. Their secret? Producing a valuable product better for their customers than what currently exists, and not being dependent upon policy or carbon credits.
They're doing modular direct air capture in places that otherwise need to buy merchant carbon dioxide from companies that sell gases. Shipping merchant CO2 to the Canary Islands isn't cheap. If modular DAC can provide cheaper and less carbon-intensive CO2, that's surely a win for the climate, the economy, and the learnings that allow us to scale along the way.
Matt brought his insights about how he built a successful business in carbontech. Folks would be wise to listen up!
N.B. The photos aren't of actual Aircapture facilities.
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Aircapture's Series A announcement