TLDR:
- 44.01 secures $37M in Series A funding for its mineralisation technology
- The technology aims to eliminate CO2 safely, permanently, and at scale
A climate tech company, 44.01, has secured $37M in Series A funding to further develop and refine its mineralisation technology. The company’s innovative technology works by converting CO2 into rock, accelerating the natural process of CO2 mineralisation and permanently removing captured CO2 in less than twelve months. This funding will assist 44.01 in advancing its technology, developing commercial-scale projects, and expanding its deployment globally.
Equinor Ventures, a lead investor in the funding round, expressed its commitment to testing and exploring novel ideas for climate change mitigation by supporting 44.01. Other investors include Shorooq Partners, Air Liquide Venture Capital, Amazon’s Climate Pledge Fund, and several others. The company’s technology has the potential to provide a cost-effective alternative to conventional geological carbon storage, offering a global climate solution with mafic and ultramafic rock formations found on every continent.
CEO of 44.01, Talal Hasan, emphasized the importance of mineralization in protecting and repairing the climate, expressing gratitude to investors for their support. Shorooq Partners commented on their first lead investment in climate tech with 44.01, highlighting the disruptive potential of the company’s mineralisation technology as a safe, permanent, and scalable solution for CO2 elimination. This investment aligns with their goal of promoting new solutions to address global challenges and contribute to a sustainable future.
