CarbonBlue Secures $10M to Expand Groundbreaking CO2 Removal Technology

Rhea-AI Summary

Climate-tech startup CarbonBlue has secured $10 million in seed funding to expand and deploy its groundbreaking water-based Carbon Dioxide Removal (CDR) technology. The company's Direct Water Capture technology can utilize any type of water, allowing integration with existing water infrastructure to combat global warming.

The funding round was led by Ibex Investors and FreshFund, with participation from strategic investors including Engie New Ventures and ZIM Ventures. The investment will enable CarbonBlue to scale up its technology, expand global operations, and pursue novel integrations with water-utilizing industrial facilities.

CarbonBlue's process is praised for restoring ocean health while permanently removing CO2 without adding chemicals, positioning the company as a significant contributor to the global effort against climate change.

Positive

• Secured $10 million in seed funding for technology expansion
• Direct Water Capture technology compatible with any type of water
• Potential to convert existing water infrastructure into CDR assets
• Strategic partnerships with major industry players
• Technology restores ocean health while removing CO2 without chemicals

Negative

• None.

Insights

Financial Analyst

CarbonBlue's successful completion of a $10 million seed funding round indicates solid financial backing and a strong vote of confidence from credible investors. This level of funding is significant for a startup and will enable the company to expand operations and scale its technology. For retail investors, this is a positive signal as it shows that the company has the necessary resources to grow and potentially become a major player in the climate-tech industry. The involvement of strategic investors like Engie New Ventures and ZIM Ventures also adds a layer of credibility and potential for future collaborations, which could be beneficial for both short-term and long-term growth. However, it's essential to consider that while the funding is promising, the technology still needs to prove its commercial viability.

Tech Expert

CarbonBlue's Direct Water Capture technology is a unique innovation in the climate-tech space. Unlike other CDR technologies that may be limited by the type of water they use, CarbonBlue's approach can utilize any type of water, making it highly versatile and adaptable. This capability could facilitate integration into existing water-utilizing facilities, potentially turning any water infrastructure into a carbon removal asset. This universal compatibility is a game-changer and could significantly accelerate the deployment and scalability of CDR technologies. For investors, the technological edge that CarbonBlue holds could translate into substantial competitive advantage and higher market share in the long run.

Market Research Analyst

The market for carbon dioxide removal (CDR) technologies is rapidly expanding as global efforts to combat climate change intensify. CarbonBlue’s innovative approach and the recent influx of $10 million in seed funding place it in a favorable position within this burgeoning market. The company's ability to integrate its technology into various water-utilizing facilities can open up multiple revenue streams and partnerships. Moreover, the endorsement from industry giants and strategic investors suggests strong market validation. Retail investors should note that while the market potential is significant, the success hinges on the company's ability to effectively deploy and scale its technology across different sectors.

The funds will enable the expansion and deployment of the company's groundbreaking water infrastructure-harnessing CDR technology 

HAIFA, Israel, July 22, 2024 /PRNewswire/ -- Climate-tech startup CarbonBlue has announced the completion of a seed funding round to scale up and deploy its groundbreaking water-based Carbon Dioxide Removal (CDR) technology, bringing the funding raised by the company to $10 million. The completion of this round singles CarbonBlue out as an exceptional innovator in the climate-tech sphere. The financing will allow the company to expand its global operations, scale up its technology and pursue novel integrations with water-utilizing industrial facilities.

CarbonBlue's Direct Water Capture technology is unique in its ability to utilize any type of water in its environmentally friendly process. This universal water compatibility allows integration with any water-utilizing facility, and holds the potential to convert any existing water infrastructure into a CDR asset in the fight against global warming.

The round was led by Ibex Investors and FreshFund, joined by strategic investors Engie New Ventures, and ZIM Ventures, the corporate venture capital arm of ZIM Integrated Shipping Services, and included further investments by existing investors Jibe Ventures, MoreVC and Secret Chord Ventures.

"The closing of our seed round marks an important chapter in our company's journey," said Dr. Dan Deviri, CarbonBlue co-founder and CEO. "It will allow us to expand our collaborations with major players in the climate, energy, and water sectors, and help us solidify and mature our technology and its applications. This vote of confidence from industry leaders validates our approach; it shows that they believe climate change deeply affects their core businesses, and that CarbonBlue's contribution to this global effort is a significant one."

"Carbon Blue's process is a win-win, restoring ocean health while permanently removing CO2, all without the addition of chemicals. Their rate of technological and operational progress has been exciting to watch since Frontier first backed them last year," added Frauke Kracke, Science Lead at Frontier and Stripe Climate.

"What sets CarbonBlue apart from other CDR players is their ability to directly support and integrate into mission critical infrastructure projects such as efuels and desalination. The combination of CDR and industry co-benefits is the secret sauce Dan and Iddo, [CarbonBlue's co-founders], have nailed. Their strategic partnerships and investors are a testament of this unfolding," added Jonathan Schwartz, investor at Ibex Investors.

About CarbonBlue
CarbonBlue is an Israeli climate tech startup that has developed technology for the removal of CO₂ from the environment through the use of water and water-utilizing industries and infrastructure. Founded in 2022, the company is constructing a facility integrated with the Maagan Michael desalination plant, and is developing projects in Europe, the MENA region, and North and South America.  
For more information visit www.carbonblue.cc
Contact: AdamE@CarbonBlue.cc

About Engie
ENGIE New Ventures (ENV) is ENGIE's Research & Innovation investment fund dedicated to innovative start-ups in the field of climate technology. ENV makes minority investments in innovative start-ups that bring strategic value to the Group, with a specific focus on future disruptive technologies. Since 2014, it has invested in over 50 solutions in the cleantech sector, mainly involving renewable energy, energy efficiency and flexibility solutions, and green gases including hydrogen. ENV is represented in Paris, San Francisco and Tel Aviv. For further information: www.engieventures.com
ENGIE Group press contact:
Tel.: +33 (0)1 44 22 24 35
engiepress@engie.com
https://twitter.com/ENGIEnewsroom

About ZIM and ZIM Ventures 
Founded in Israel in 1945, ZIM (NYSE: ZIM) is a leading global container liner shipping company with established operations in more than 90 countries serving approximately 33,000 customers in over 300 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide customers innovative seaborne transportation and logistics services and exceptional customer experience. ZIM's differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages. Through ZIM Ventures, ZIM's tech-focused investment arm, ZIM targets investments in disruptive technologies in shipping and broader supply chain and logistics related sectors, as well sustainability related technologies. These investments serve both as potential growth engines for the company as well as allow ZIM to incorporate cutting-edge technologies in its product offering, thereby enabling portfolio companies to leverage ZIM's market position to test their solutions in real market situations and advance their marketing efforts.  Additional information is available at www.ZIM.com

View original content:https://www.prnewswire.com/news-releases/carbonblue-secures-10m-to-expand-groundbreaking-co2-removal-technology-302202600.html

SOURCE CarbonBlue

FAQ

What is CarbonBlue's main technology and how does it work?

CarbonBlue's main technology is Direct Water Capture, a Carbon Dioxide Removal (CDR) method that can utilize any type of water in an environmentally friendly process. It can be integrated with existing water infrastructure to remove CO2 from the atmosphere and combat global warming.

How much funding did CarbonBlue secure in its latest round?

CarbonBlue secured $10 million in its latest seed funding round, bringing the total funding raised by the company to $10 million.

Who were the lead investors in CarbonBlue's seed funding round?

The seed funding round was led by Ibex Investors and FreshFund, with participation from strategic investors including Engie New Ventures and ZIM Ventures (ZIM).

How will CarbonBlue use the $10 million in funding?

CarbonBlue will use the $10 million to expand its global operations, scale up its technology, and pursue novel integrations with water-utilizing industrial facilities.

What advantages does CarbonBlue's technology offer compared to other CDR methods?

CarbonBlue's technology offers the advantage of being compatible with any type of water, allowing integration with existing water infrastructure. It also restores ocean health while removing CO2 without adding chemicals, making it environmentally friendly and efficient.