![]() ![]() ![]() Some startups take a nature-based approach to sequestering the gas.īiochar, a form of charcoal that prevents carbon dioxide from entering the atmosphere by storing it in solid form, is another option. Under a joint initiative named Frontier, the companies said in April that they'd earmarked $925 million to purchase permanent carbon removal from companies building new solutions over the next nine years.Ĭarbon-removal companies come in different forms - some are designed to suck carbon straight out of the air, while others extract it from industry processes before it's emitted. The Swiss startup Climeworks raised the lion's share, raking in $650 million in one round last month.Īlphabet, Meta, Stripe, Shopify, and McKinsey Sustainability have also committed to scaling carbon-removal technologies. Startups in the sector raised $52.8 million across 20 deals in 2021, a figure dwarfed by this year's $1 billion across 12 deals to date. PitchBook data indicates there are 55 venture-capital-backed companies in Europe's carbon-capture-and-sequestration ecosystem. It often indicates a user profile.Īccording to Fortune Business Insights, the global carbon-capture-and-sequestration market is expected to grow from $2 billion in 2021 to $7 billion by 2028. Account icon An icon in the shape of a person's head and shoulders.
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