Climate technology leader 44.01 has raised €37 million in Series A funding to further its pioneering CO2 mineralisation technology. This funding round, led by Equinor Ventures, with notable participation from Shorooq Partners, Air Liquide Venture Capital, Amazon’s Climate Pledge Fund, and other prominent investors, will enable 44.01 to refine its technology, expand its commercial-scale projects, and broaden its international reach.
Founded with the vision of leveraging mineralisation to combat climate change, 44.01’s technology accelerates the natural process of turning CO2 into rock, effectively and permanently eliminating carbon dioxide from the atmosphere in less than a year. With mineralisation projects deployable globally due to widespread mafic and ultramafic rock formations, 44.01 presents a scalable and cost-effective alternative to traditional carbon storage methods.
Quotes from Key Stakeholders
Lars Klevier, Head of Equinor Ventures, expressed enthusiasm about the investment, stating, “Equinor Ventures is proud to support 44.01’s innovative approach to CO2 mineralisation. This investment is a step forward in our commitment to exploring and advancing cutting-edge solutions for climate change mitigation. We look forward to working closely with 44.01 to further develop and validate their technology.”
Talal Hasan, Founder and CEO of 44.01, commented, “We believe that mineralisation will be crucial in protecting and repairing our climate. The confidence and support from our investors are instrumental as we accelerate our technology’s development and deploy it on a global scale.”
Mahmoud Adi, Founding Partner at Shorooq Partners, highlighted the investment’s significance, noting, “We are excited to make our first lead investment in climate tech with 44.01, which is leading the way in innovative carbon sequestration solutions. This investment aligns with our vision of supporting transformative technologies that tackle critical global challenges.”
Jamey Mulligan, Head of Carbon Neutralization at Amazon, added, “Our support for 44.01 complements Amazon’s broader decarbonization efforts and highlights our commitment to advancing effective carbon removal technologies. We’re excited to be part of this groundbreaking venture.”
Cindi Bough, Managing Director at Climate Investment, also noted, “44.01’s technology holds great promise for global industrial decarbonisation. We’re eager to leverage our extensive network and experience to help commercialize and scale this innovative solution.”
Editorial Perspective
44.01’s successful Series A funding round marks a pivotal moment in the fight against climate change. The company’s focus on accelerating CO2 mineralisation through its advanced technology offers a promising solution to one of the most pressing environmental challenges of our time. By turning CO2 into rock in under a year, 44.01 provides a scalable and permanent method for carbon removal that addresses both environmental and commercial needs.
The global potential of 44.01’s technology is underscored by the diverse participation of international investors and partners. As the company continues to develop and scale its projects, it stands at the forefront of climate tech innovation, poised to make a substantial impact on global carbon management efforts.
With its recent accolades, including the Earthshot Prize and recognition as an XPRIZE Carbon Removal Top 20 Finalist, 44.01 demonstrates not only its technological prowess but also its capacity to drive significant progress in the field of carbon sequestration.
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