5 Carbon Capture and Utilization Startups Upcycling CO2

The urgency to address climate change has propelled the development of technologies to reduce atmospheric CO2 levels.

Traditional decarbonization strategies primarily focus on reducing carbon emissions at the source, such as transitioning to renewable energy sources and improving energy efficiency. However, these methods alone are insufficient to meet global climate targets due to the existing levels of CO2 and the continued use of fossil fuels.

Carbon capture and utilization (CCU) presents a promising solution to these challenges. Unlike traditional methods that only aim to minimize emissions, CCU technologies capture carbon dioxide from industrial emissions or directly from the air and convert it into useful products such as chemicals, building materials, and fuels.

This approach can be integrated with existing industries, adding value to challenging sectors to decarbonize and creating economic incentives for capturing and utilizing carbon.

This article explores five growth-stage startups in carbon capture and utilization technologies that are contributing to sustainable industry practices. These startups have the potential to grow rapidly, are in a good market position, or can introduce game-changing technology to the market in the next 2-3 years.

This makes them a great option to partner, collaborate, or acquire.

1. Octavia Carbon Using Kenya’s Geothermal Heat with DAC for Carbon Capture

Founding Year	2022
Headquarters	Nairobi, Kenya
Total Funding Amount	$1.1 Million
Last Funding Round/Amount	Pre-Seed/$300K
Website	https://www.octaviacarbon.com/

To mitigate climate change, billions of tons of carbon dioxide must be removed from the atmosphere annually by 2050.

Octavia Carbon is deploying Direct Air Capture (DAC) technology, which uses Kenya’s renewable electricity, geothermal heat, and geological advantages.

The startup has developed modular DAC units named ‘Lenana’ that can capture 10 tons of CO2 annually. These units are designed to utilize Kenya’s geothermal energy. It reduces the electricity required for DAC by approximately 85% and substantially lowers operational costs.

This technology integrates geothermal waste heat, allowing the CO2 filter to regenerate at significantly lower temperatures for more energy-efficient operations.

Octavia Carbon’s approach reduces the cost of DAC, projecting to become one of the world’s most economical solutions.

Founder and CEO Martin Freimüller leads this startup. He has 3+ years of experience as a strategy consultant with Dalberg. Martin graduated in Social and Political Sciences and was ranked #1 at the University of Cambridge.

Octavia Carbon raised its latest funding of $300K from a Pre-Seed round on Feb 1, 2024.

2. CarpeCarbon’s DAC Technology Capture CO2 from Ambient Air

Founding Year	2022
Headquarters	Turin, Piemonte, Italy
Total Funding Amount	€1.8 Million
Last Funding Round/Amount	Pre-seed/€1.8 Million
Website	https://www.carpecarbon.com/

The challenge in CO2 removal and global warming management lies in the high energy demands and reliance on critical minerals of current Direct Air Capture (DAC) technologies.

There is also a pressing need to develop DAC systems that can operate on a large scale to meet the global target of removing 1.5 to 30 billion tonnes of CO2 annually by 2050 to limit the temperature increase to 1.5°C.

To overcome these challenges, CarpeCarbon is developing an innovative DAC technology that is energy-efficient and scalable, capable of capturing CO2 directly from ambient air.

The system is designed to work with minimal reliance on critical minerals and reduced energy costs, making it a more sustainable and accessible solution for achieving carbon-negative emissions.

CarpeCarbon’s innovative approach facilitates the conversion of atmospheric CO2 into solid form for permanent geological storage. It also allows the utilization of captured CO2 for industrial applications and the creation of carbon-neutral products and synthetic fuels.

Giuliano Antoniciello is the CEO and co-founder of CarpeCarbon. He was a Ph.D. researcher at the Polytechnic University of Turin.

Giuliano holds a Ph.D. in Astronomy and Astrophysics from the University of Padua.

The latest funding raised by CarpeCarbon was on Nov 15, 2023. It was a pre-seed round for €1.8 Million.

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3. BIOSORRA Increasing Crop Yield And Capturing Carbon With its Biochar

Founding Year	2022
Headquarters	Asheville, North Carolina, US
Total Funding Amount	$335K
Last Funding Round/Amount	Pre-Seed/$335K
Website	https://www.biosorra.com/

Africa’s population is expected to double by 2050. It also faces climate change, land degradation, and food insecurity issues.

BIOSORRA is tackling these problems by transforming agricultural waste into biochar, a soil improver that increases crop yields while capturing and sequestering carbon dioxide.

The startup has developed a method to produce biochar as an organic fertilizer. It increases farm crop yields by up to 200% and simultaneously captures CO2 from the atmosphere.

This aids in breaking the cycle of land degradation and supports smallholder farmers in shifting towards more sustainable farming techniques.

The technology works as carbon capture and soil improvement solutions that focus on enhancing agricultural productivity and achieving carbon sequestration.

Ines Serra Baucells is the founder and CEO with an MBA from IESE Business School. Her work history includes experience with Deloitte as a Senior Energy Consultant and McKinsey & Company as an Associate.

Elon Musk was the lead investor in BIOSORRA’s pre-seed funding round, which was held on Jan 5, 2022, and raised $335K.

4. Airhive Using Fluidization DAC Technology to Capture Carbon in Minerals

Founding Year	2022
Headquarters	London, England, UK
Total Funding Amount	Undisclosed
Last Funding Round/Amount	Pre-seed
Website	https://airhive.earth/

There is a critical need for rapid and large-scale carbon removal to combat climate change and meet the global targets for reducing atmospheric CO2 levels. The primary challenge is the development of Direct Air Capture (DAC) technologies that can operate efficiently and at scale to remove gigatons of CO2 from the atmosphere.

To solve this, Airhive has developed a DAC technology using fluidization, which transforms rock minerals into a dynamic fluid. It enhances their CO2 absorption capacity.

This method is based on the industrial principle of fluidization and is designed to capture CO2 rapidly and efficiently from the air, using non-toxic Earth minerals.

Airhive Carbon Capture and Utilization Technology

A prototype system, JD002, demonstrates this capability by stripping nearly 100% of CO2 from the air in less than 0.1 seconds, with the sorbent material reaching saturation in minutes to hours.

Airhive’s approach differentiates itself from existing DAC technologies by its speed of CO2 capture and energy efficiency. The technology is notable for its minimal energy usage, exclusively sourced from renewable electricity.

Rory Brown, co-founder and CEO of this startup, manages its leadership. He has experience as a Director, team leader, and independent consultant with various organizations.

His educational background includes the names of London Business School, Frankfurt School of Finance & Management, University of Oxford, and UCL for various certifications and M.Sc programs.

Airhive’s latest pre-seed funding round was led by AP Ventures and Coca-Cola Europacific Partners and held on March 20, 2024.

5. Qaptis Reducing Freight Trucks Emission with Its Carbon Capture System

Founding Year	2021
Headquarters	Lausanne, Vaud, Switzerland
Total Funding Amount	CHF1.4 Million
Last Funding Round/Amount	Pre-seed/CHF1.3 Million
Website	https://www.qaptis.com/

The freight industry is responsible for about 10% of global carbon emissions. Due to high costs and operational complexities, this sector faces hurdles in transitioning to greener alternatives.

Traditional fleet transformation solutions are non-existent or too expensive. Another challenge is that the current infrastructure does not adequately support electric or hydrogen-powered alternatives.

Qaptis has developed a mobile CO₂ Capture Technology system that can reduce carbon emissions from freight trucks by up to 90% to reduce the carbon footprint.

This system captures CO₂ from the exhaust, converts it into a liquid state, and stores it until it can be safely disposed of or reused. The technology is designed for easy retrofitting on existing trucks, offering a cost-effective and practical solution to reduce their carbon footprint significantly.

Qaptis’ technology is efficient and compatible with the current infrastructure. It is 3-4 times cheaper than other green alternatives and does not require extensive modifications to existing fueling and operational systems.

By leveraging the heat from the truck’s engine to drive the CO₂ capture and conversion process, Qaptis’ system minimizes the need for external energy sources.

Co-founder and CEO Masoud Talebi Amiri is leading this startup with his experience as co-founder and CTO of Ponera Group.

He was a scientific researcher and Ph.D. holder from EPFL (École polytechnique fédérale de Lausanne). Masoud also has a specialization in strategy from Harvard Business School Online.

Qaptis’ latest funding of CHF1.3 Million was from a pre-seed round held on Mar 1, 2023.

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Authored By: Naveen Kumar, Market Research.