Climate-tech company CarbonBlue has announced the completion of a seed funding round to scale up and deploy its water-based Carbon Dioxide Removal (CDR) technology, bringing the funding raised by the company to $10 million. This funding round was led by Ibex Investors and FreshFund, joined by strategic investors Engie New Ventures and ZIM Ventures (the corporate venture capital arm of ZIM Integrated Shipping Services), and included further investments by existing investors Jibe Ventures, MoreVC, and Secret Chord Ventures.
The funding will enable the company to expand its global operations, scale up its technology, and pursue novel integrations with water-utilizing industrial facilities. And CarbonBlue’s Direct Water Capture technology is unique in its ability to utilize any water in its environmentally friendly process. This universal water compatibility enables integration with any water-utilizing facility and holds the potential to convert any existing water infrastructure into a CDR asset in the fight against global warming.
KEY QUOTES:
“The closing of our seed round marks an important chapter in our company’s journey. It will allow us to expand our collaborations with major players in the climate, energy, and water sectors, and help us solidify and mature our technology and its applications. This vote of confidence from industry leaders validates our approach; it shows that they believe climate change deeply affects their core businesses, and that CarbonBlue’s contribution to this global effort is a significant one.”
– Dr. Dan Deviri, CarbonBlue co-founder and CEO
“Carbon Blue’s process is a win-win, restoring ocean health while permanently removing CO2, all without the addition of chemicals. Their rate of technological and operational progress has been exciting to watch since Frontier first backed them last year.”
– Frauke Kracke, Science Lead at Frontier and Stripe Climate
“What sets CarbonBlue apart from other CDR players is their ability to directly support and integrate into mission critical infrastructure projects such as efuels and desalination. The combination of CDR and industry co-benefits is the secret sauce Dan and Iddo, [CarbonBlue’s co-founders], have nailed. Their strategic partnerships and investors are a testament of this unfolding.”
– Jonathan Schwartz, investor at Ibex Investors
