Origen Secures $13M to Revolutionize Carbon Capture Technology
In a bold move to combat climate change, Origen secures $13 million in Series A funding, capturing the interest of major investors. Based in London, this innovative provider of limestone-based carbon removal technology is rapidly making waves in the climate tech sector. Founded by a dynamic team led by CEO Ben Riddle-Turner, Origen is on a mission to revolutionize carbon capture through its groundbreaking direct air capture (DAC) technology, which utilizes the ubiquitous chemical properties of limestone.
The recent funding round was spearheaded by Barclays Climate Ventures, with additional contributions from big-name participants such as Shell Ventures, Exascale Fund, Elemental Impact, and Hatch. This infusion of capital is set to propel Origen’s ambitious plans to scale its innovative DAC technology, designed to efficiently extract CO2 from the atmosphere. As investors increasingly seek opportunities in sustainable and impactful solutions, Origen's commitment to harnessing natural resources places it at the forefront of the climate tech revolution.
Moreover, Origen's recent partnership with the Energy and Environmental Research Center (EERC) in North Dakota exemplifies its dedication to practical, scalable solutions. By aiming to capture 1,000 tonnes of carbon dioxide annually, this collaboration underscores the potential for limestone-based technologies to play a significant role in global decarbonization efforts. For startup founders and investors alike, this venture presents a compelling opportunity to be part of a forward-thinking solution that addresses one of the world’s most pressing challenges—climate change.
Key Terms Explained
- Series A funding
- Second stage of startup financing, the Series A round, aims to help a startup expand its operations. Investors expect a return through the increase of value in the company.
- Direct Air Capture (DAC) technology
- A method for removing CO2 from the air, directly capturing it from the atmosphere. In the context of the text, it refers to Origen's innovative technology based on the use of limestone.
- Climate Tech Sector
- A sector that includes businesses and innovations focused on mitigating the effects of climate change, applying technology to reduce CO2 emissions, and promoting sustainable practices.
Frequently Asked Questions
- Who recently secured $13 million in Series A funding for their limestone-based carbon removal technology?-The startup Origen, based in London, recently secured $13 million in Series A funding for their limestone-based carbon removal technology.
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