Cleantech Startup Mission Zero Raises $28 Million to Scale DAC Carbon Removal Solution

Climate solutions startup Mission Zero has secured £21.8 million ($27.7 million) in Series A financing to support the expansion of its Direct Air Capture (DAC) carbon removal technology. DAC technology, recognized by the International Energy Agency (IEA) as an important carbon removal option, extracts CO2 directly from the atmosphere for various uses or permanent storage. Mission Zero aims to provide efficient and cost-effective DAC technology for carbon removal at smaller scales and different locations. Their electrochemical DAC technology employs fans to draw air from the atmosphere, dissolves carbon in a water-based solvent, and utilizes electrodialysis to release the carbon as a gas that can be stored or utilized. The funding comes from 2150, Breakthrough Energy Ventures, World Fund, Fortescue, and Siemens Financial Services. Mission Zero plans to have three fully-funded systems operational by the end of 2024, focusing on CO2 mineralization, carbon-negative building materials, and sustainable aviation fuel. The company has already deployed systems capable of recovering up to 250 tonnes of CO2 annually and aims to develop a mass deployable DAC product with a recovery capacity of 1,000 tonnes of CO2 per year with the help of the new funding. Resources: https://www.esgtoday.com/cleantech-startup-mission-zero-raises-28-million-to-scale-dac-carbon-removal-solution/