Vaulted Deep, a biomass carbon removal and storage (BiCRS) company specializing in durable carbon dioxide removal (CDR), announced that it had raised $32.3 million in Series A funding. The round was led by new investor Prelude Ventures and returning investors with super pro-rata participation, including Lowercarbon Capital, Earthshot Ventures, and WovenEarth Ventures. Additional new investors include Fall Line Capital and Rethink Impact.
As a spinoff from an established waste disposal company, Vaulted launched in late 2023 with existing permitted well infrastructure and an experienced team. And this has enabled the company to deliver CDR quickly and safely using mature, proven injection technology.
Vaulted has already issued over 7,000 tons of CDR, achieving the industry’s fastest and highest rate of deliveries in the first year of operations for durable CDR (source: CDR.fyi). And in May 2024, Frontier announced that it had facilitated a $58.3 million offtake agreement with Vaulted Deep to permanently remove 152,480 tons of carbon dioxide between 2024 and 2027. Currently, Vaulted is generating CDR at over 1,500 per month. With this additional funding, Vaulted will begin to move forward on its next U.S. facility, Monarch Fields.
Vaulted’s approach starts with vegetation naturally drawing down carbon dioxide from the atmosphere via photosynthesis. Much of that ends up as carbon-rich waste in the form of biosolids, manure, food, or agricultural waste that is incinerated, landfilled, or spread on land. The once-captured carbon dioxide is released into the atmosphere as that waste burns or decomposes.
Vaulted prevents this by turning that waste into a carbon-rich slurry and injecting it into deep disposal wells for permanent geologic storage. And by processing a range of often pathogenic and contaminated organic wastes, Vaulted’s CDR provides substantial co-benefits that include eliminating methane emissions (which Vaulted does not include in its credit accounting), reducing water-borne illnesses, and preventing severe water and agricultural soil pollution. Using natural processes to capture carbon dioxide via biomass, Vaulted’s technology bypasses costly carbon capture infrastructure, delivering rapid, permanent CDR without compromising scalability.
KEY QUOTES:
“This funding comes on the heels of Vaulted’s first full year of successful operations and will allow the company to expand carbon dioxide removal capacity, including adding new deep injection well sites in the coming years. Vaulted Deep’s rapid progress from seed funding to Series A, from concept to high-volume delivery, demonstrates the immense potential of its approach. We believe Vaulted’s technology can lead the way to durable carbon removal at a meaningful scale, and we are excited to support their mission to deliver real, lasting climate solutions.”
– Matt Eggers, Managing Partner at Prelude Ventures
“Rapid scalable deliveries are essential to helping the CDR industry grow in a sustainable and impactful way. By leveraging our legacy assets and expertise, our vision has always been to lead the charge on speed and scale. With this next round of funding, Vaulted will supercharge on both fronts by developing new wells for more CDR removal —and delivering more tonnes, faster, to meet rising industry demand.”
– Julia Reichelstein, Co-Founder and CEO of Vaulted Deep
“The magnitude and pace of Vaulted’s durable carbon removal deliveries stem from decades of experience perfecting our technology in industrial waste management. Our successful Series A accelerates our ability to open new sites across multiple geographies, including our new facility Monarch Fields, leveraging our proven technology to fill customer demand while delivering benefits beyond carbon removal to our customers and the communities we serve.”
– Vaulted Co-founder and Executive Chairman Omar Abou Sayed
