Omani Startup 44.01 Secures $37M for CO2 Removal
Omani tech firm 44.01 has made significant strides in combating climate change. The company recently secured $37 million in Series A funding. Equinor Ventures and Shorooq Partners led the round. Additionally, Amazon’s Climate Pledge Fund and Breakthrough Energy Ventures participated. These funds will be instrumental in scaling 44.01’s innovative CO2 mineralization technology.
Enhancing CO2 Mineralization Technology
44.01 will use the investment to refine its technology and develop larger-scale projects. Moreover, the company plans to expand its operations globally. Notably, 44.01’s technology has garnered significant recognition. It won the Earthshot Prize in 2022 and was a Top 20 finalist in the XPRIZE Carbon Removal competition.
Diverse Investor Support
The funding round attracted a diverse group of investors, including Air Liquide Venture Capital, Alumni Ventures, and Siemens Financial Services. This broad-based support underscores the strong confidence in 44.01’s technology.
Statements from Key Investors
44.01 founder Talal Hasan emphasized the potential of mineralization for climate protection. He expressed gratitude to investors for their support. Furthermore, Lars Klevier from Equinor Ventures highlighted the alignment of the investment with Equinor’s focus on climate solutions. Similarly, Mahmoud Adi from Shorooq Partners praised 44.01’s technology as a safe, permanent, and scalable solution.
CO2 Global Climate Solution
44.01’s technology leverages widely available rocks. This makes it a modular and cost-effective solution. Consequently, the company can deploy it globally to support industrial decarbonization efforts.
Oman’s Role in Climate Innovation
Innovation Development Oman supports 44.01’s work. The company’s technology contributes to Oman’s net zero goal and attracts international investment.
In conclusion, with strong investor backing, 44.01 is well-positioned to make a significant impact on climate change mitigation.
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