TLDR:
- Omani climate-tech company 44.01 raises $37 million Series A funding round led by Equinor Ventures and other investors
- Founded in 2020, 44.01 eliminates CO2 by turning it into rock, offering a global climate solution
Oman-based climate-tech company 44.01 has raised $37 million in a Series A funding round led by Equinor Ventures, Shorooq Partners, Air Liquide Venture Capital, Alumni Ventures, Amazon’s Climate Pledge Fund, and Siemens Financial Services, among others. Founded in 2020 by Talal Hassan, Ehab Tasfai, and Karan Khimji, 44.01 focuses on eliminating CO2 by turning it into rock, presenting a potential global method of carbon removal. The company’s mineralisation technology offers a cost-effective alternative to traditional methods of geological carbon storage by utilizing mafic and ultramafic rock formations found on every continent.
44.01 has completed successful pilot projects in Oman and the UAE and has received accolades such as the Earthshot Prize in 2022 and being named an XPRIZE Carbon Removal Top 20 Finalist for its Omani Project Hajar. The funding from the Series A round will allow 44.01 to further develop its technology, expand commercial-scale projects, and grow its international distribution network. The company’s mission is to play a significant role in protecting and repairing the climate through mineralisation.
