Direct ocean capture firm Captura has further expanded its Series A funding round leading to a total of $45.3m.
This expanded round underscores Captura’s momentum in scaling up and commercializing its Direct Ocean Capture (DOC) technology, a high-potential climate solution that harnesses the ocean’s natural role in carbon absorption, the company said in a press release.
Captura added National Grid Partners and Japan Airlines Innovation Fund/Translink Capital as new investors in the round, alongside a number of the company’s existing investors.
This latest increase in funding follows two recent, previously announced raises in January 2024 and January 2023 highlighting the rapid progress of Captura’s commercialization strategy. With two fully operational pilot plants in California and an upcoming pilot plant to be installed in Norway in late 2024 in partnership with Equinor, its first commercial deployments are expected to remove tens of thousands of tons of atmospheric carbon dioxide (CO2) annually.
Captura’s DOC technology offers an approach to carbon removal that extracts CO2 directly from the ocean, thereby enhancing the ocean’s natural ability to absorb atmospheric CO2.
