Carbon America, the world’s first vertically integrated carbon capture and sequestration (CCS) super developer, announced today that it has raised $30 million in Series A funding to help it scale up its technology and implement commercial projects.
The Canada Pension Plan Investment Board (CPP Investments), ArcTern Ventures, Energy Impact Partners, the Grantham Environmental Trust’s Neglected Climate Opportunities Fund, and Golden Properties are among the investors in the project.
By April 2022, shareholders will have the option to contribute an additional $15 million to support the company’s continuing rapid expansion.
“We’re extremely pleased to be joining with an amazing set of financial partners who are committed to climate solutions and who have a sophisticated understanding of the emerging supply chain and economies of scale in carbon capture,” said Alex Lau, Chairman, and Co-Founder of Carbon America.
Carbon America’s team of highly skilled and experienced professionals spans the entire CCS value chain, from development through financing, engineering, and execution, and lays the groundwork for bringing CCS projects from concept to operation faster and more cost-efficiently than current methods. Currently, the company is working on a number of initiatives aimed at accelerating emissions reductions and commercial CCS deployment.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.