- 44.01 secures $37M investment in Series A funding for mineralisation technology to eliminate CO2 safely and at scale
- Funding to refine technology, develop commercial-scale projects, and expand deployment internationally
- Technology converts CO2 into rock for permanent removal in less than twelve months
- Investors include Equinor Ventures, Shorooq Partners, Amazon’s Climate Pledge Fund, and others
- Company believes in mineralisation’s role in climate protection and repair, with a focus on global scalability
Climate Tech Company 44.01 Secures $37M Investment in Series A Funding
In the realm of climate technology, the key to combating climate change lies in innovative solutions that can effectively capture and eliminate CO2 emissions. One such company leading the charge is 44.01, which recently secured a significant investment of $37 million in Series A funding. This investment is a testament to the growing recognition of the importance of mineralisation technology in the fight against climate change.
Belief in Mineralisation Technology
44.01 operates on the fundamental belief that mineralisation will play a crucial role in protecting and repairing the climate. Their innovative technology aims to eliminate CO2 safely, permanently, and at scale by converting it into rock. This process accelerates the natural process of CO2 mineralisation, ensuring that captured CO2 is permanently removed in less than twelve months. With mafic and ultramafic rock formations capable of mineralising CO2 found across every continent, 44.01’s technology offers a truly global climate solution.
The ability of 44.01’s technology to convert CO2 into rock not only provides an effective means of reducing greenhouse gas emissions but also offers a sustainable approach to carbon capture and storage. By transforming CO2 into a solid mineral form, the company’s technology ensures that the captured carbon remains securely stored, contributing to long-term climate stability.
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Investment in Innovation
The recent $37 million investment in 44.01’s Series A funding round underscores the growing interest and support for climate tech innovation. Led by Equinor Ventures, the funding round includes a diverse group of investors such as Shorooq Partners, Air Liquide Venture Capital, and Amazon’s Climate Pledge Fund, among others. These investors recognize the potential of 44.01’s mineralisation technology to revolutionize carbon capture and storage efforts on a global scale.
Lars Klevier, Head of Equinor Ventures, emphasized the importance of supporting novel ideas for climate change mitigation, stating, “Equinor Ventures is proud to announce the investment in 44.01, a company specializing in carbon dioxide (CO2) mineralisation technology.” This investment reflects Equinor’s commitment to exploring innovative solutions for addressing climate change and underscores the potential of 44.01’s technology to make a significant impact in the field of climate tech.
Global Impact and Future Prospects
With the support of strategic investors and partners, 44.01 is poised to further develop and scale its mineralisation technology to address the urgent challenges of climate change. The company’s ability to mineralise CO2 at scale has the potential to transform the landscape of carbon capture and storage, offering a cost-effective and sustainable alternative to traditional methods.
Talal Hasan, Founder and CEO of 44.01, expressed gratitude to the investors for their commitment to the company’s mission, stating, “We believe mineralisation can play a significant role in protecting and repairing our climate.” The collective expertise and resources brought by the investors will enable 44.01 to accelerate the development and deployment of its technology, paving the way for widespread adoption and impact.
Mahmoud Adi, Founding Partner of Shorooq Partners, highlighted the disruptive potential of 44.01’s mineralisation technology, emphasizing its safe, permanent, and scalable nature. By investing in innovative solutions like 44.01, investors are not only supporting the growth of climate tech but also contributing to a more sustainable and secure future for generations to come.
As 44.01 continues to push the boundaries of climate tech innovation, the company’s success in securing significant funding underscores the growing momentum behind sustainable solutions for combating climate change. With a clear vision and a strong network of supporters, 44.01 is well-positioned to make a lasting impact in the global effort to address climate change through mineralisation technology.
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