According to an Aug 12 announcement, the Series A financing will support the ongoing engineering of Equatic’s first 100-kilotonne carbon dioxide removal (CDR) commercial facility — located in Canada. The fresh funds will also support further commercialisation, manufacturing and technological development.
Temasek Trust’s Catalytic Capital for Climate and Health (C3H) has co-led a US$11.6 million ($14.89 million) Series A round in Equatic, whose patented seawater electrolysis process accelerates the ocean’s ability to absorb and permanently store carbon at scale and simultaneously produce carbon-negative hydrogen.
Kibo Invest, a Singapore-based private investment office with a focus on climate technology, is a co-lead in the round. Other participants include Stacey Nicholas, the Aga Khan Foundation, Adam McKay, Lee Cooper and Grantham Neglected Climate Opportunities.
