{"id":84315,"date":"2024-03-13T00:00:00","date_gmt":"2024-03-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/"},"modified":"2024-03-13T00:00:00","modified_gmt":"2024-03-13T00:00:00","slug":"aramco-ventures-joins-series-a-funding-round-for-carboncapture","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/","title":{"rendered":"Aramco Ventures joins series A funding round for CarbonCapture"},"content":{"rendered":"

US-based climate tech company CarbonCapture raised USD 80 mn in a <\/strong>series A funding round<\/strong> with participation from strategic investors including Aramco\u2019s global venture capital arm, Aramco Ventures, according to a statement by CarbonCapture<\/a> yesterday. The funds raised by the US startup is one of the largest investments into direct air capture (DAC) technology, Reuters<\/a> reported, citing data from industry tracker PitchBook.<\/p>\n

Who is also in:<\/strong> Other strategic investors include Amazon\u2019s Climate Pledge Fund and Siemens Financial Services, according to the statement. The funding round was led by Prime Movers Lab with participation from Idealab X, Marc Benioff's TIME Ventures, Neotribe Ventures, Alumni Ventures and others.<\/p>\n

Where the funds are going:<\/strong> \u201cFunds will be used to further technology development and to field early installations of CarbonCapture's modular DAC systems,\u201d according to the statement.<\/p>\n

About CarbonCapture:<\/strong> The climate tech company develops and deploys DAC machines that absorb \u201cmassive amounts\u201d of carbon dioxide from the air. It has pre-sold over USD26 mn in carbon removal credits to several global players, including Microsoft, Alphabet, Meta, JP Morgan Chase and Co and others.<\/p>\n

ICYMI- <\/strong>Aramco said earlier this year<\/a> it will pour an additional USD 4 bn to Aramco Ventures, more than doubling its capital to USD 7 bn over the next four years. The additional funding will boost investments in \u201cnew energies, chemicals and the materials transition, diversified industrial businesses, and digital technologies\u201d.<\/p>\n

Aramco Ventures is already an active player:<\/strong> The company sank USD 10 mn<\/a> into Singapore-based renewable energy certificate service provider Redex back in November, and backed new technology from American start-up Rondo Energy earlier in August<\/a>. The VC also invested an undisclosed amount<\/a> in a financing round by British sustainable fuels startup OXCCU led by Clean Energy Ventures in June.<\/p>\n

Aramco has been busy with carbon removal efforts:<\/strong> Aramco said last year<\/a> that it is partnering up with Siemens Energy to develop a direct air capture (DAC) test unit in Dharan. according to the statement. The test unit will have the capture capacity of up to 12 tons of CO2 annually and is set to be completed this year, paving the way for a larger pilot facility that will have a CO2 capture capacity of 1.25k tons per year. It is also in the process<\/a> of finalizing an agreement with decarbonisation firm Topsoe to set up a lower-carbon hydrogen demonstration plant here.<\/p>\n","protected":false},"excerpt":{"rendered":"

One of the largest investments into direct air capture (DAC) technology<\/p>\n","protected":false},"author":1,"featured_media":84316,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2616],"tags":[1466,1465,1467,10,31,1468,1469],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-aramco-ventures","tag-carboncapture","tag-direct-air-capture-dac","tag-enterpriseam-ksa","tag-investment-watch","tag-redex","tag-rondo-energy","wpautop","entry"],"acf":{"mongo_id":"29e768c2-4b1f-4443-8242-f57cd77b299e","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1096.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aramco Ventures joins series A funding round for CarbonCapture","related_issue":[84302],"teaser":"One of the largest investments into direct air capture (DAC) technology","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.46fca5c1-9625-4096-b740-18d4cf91e719.mp3"},"yoast_head":"\nAramco Ventures joins series A funding round for CarbonCapture - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramco Ventures joins series A funding round for CarbonCapture\" \/>\n<meta property=\"og:description\" content=\"One of the largest investments into direct air capture (DAC) technology\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-13T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1096.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Aramco Ventures joins series A funding round for CarbonCapture\",\"datePublished\":\"2024-03-13T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/\"},\"wordCount\":400,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1096.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Aramco Ventures\",\"CarbonCapture\",\"direct air capture (DAC)\",\"EnterpriseAM KSA\",\"INVESTMENT WATCH\",\"Redex\",\"Rondo Energy\"],\"articleSection\":[\"Investment Watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/\",\"name\":\"Aramco Ventures joins series A funding round for CarbonCapture - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1096.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-03-13T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1096.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1096.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Aramco Ventures joins series A funding round for CarbonCapture\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Aramco Ventures joins series A funding round for CarbonCapture - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/","og_locale":"en_US","og_type":"article","og_title":"Aramco Ventures joins series A funding round for CarbonCapture","og_description":"One of the largest investments into direct air capture (DAC) technology","og_url":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/","og_site_name":"KSA","article_published_time":"2024-03-13T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1096.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Aramco Ventures joins series A funding round for CarbonCapture","datePublished":"2024-03-13T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/"},"wordCount":400,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1096.jpg?fit=%2C&ssl=1","keywords":["Aramco Ventures","CarbonCapture","direct air capture (DAC)","EnterpriseAM KSA","INVESTMENT WATCH","Redex","Rondo Energy"],"articleSection":["Investment Watch"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/","url":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/","name":"Aramco Ventures joins series A funding round for CarbonCapture - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1096.jpg?fit=%2C&ssl=1","datePublished":"2024-03-13T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1096.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1096.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/13\/aramco-ventures-joins-series-a-funding-round-for-carboncapture\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Aramco Ventures joins series A funding round for CarbonCapture"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1096.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1096.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1096.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/84315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=84315"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/84315\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/84302"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/84316"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=84315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=84315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=84315"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=84315"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=84315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}