Startup Funding Flourishes in the Carbon Capture and Storage Sector
Carbon capture and storage-focused startups are experiencing a surge in funding, despite a general downturn for most sectors. Over $500 million has been invested this past year in firms aiming to reduce industrial carbon emissions, manage captured CO2, and develop the carbon credits landscape. These include CarbonCure Technologies, a carbon removal startup from Nova Scotia that secured $80 million in funding. Charm Industrial, a San Francisco-based firm that uses bio-oil and plant matter for carbon sequestration and raised $100 million in Series B funding, and London’s Supercritical, a carbon removal offsets marketplace operator that landed $13 million in its June Series A. While CO2 levels are the highest for millions of years, these innovative startups are working hard to reduce atmospheric carbon and industrial waste. To date, companies in this sector have raised over $1.25 billion in equity funding.
