Direct Air Capture Startup Heirloom Raises $53MM Series A, Among the Largest Investments in New Carbon Removal Technologies
SAN FRANCISCO, March 17, 2022 /PRNewswire/ -- Heirloom, a direct air capture company permanently removing CO2 from the atmosphere, announced today that it has raised $53MM in a Series A funding round co-led by Carbon Direct Capital Management, Ahren Innovation Capital, and Breakthrough Energy Ventures, with The Microsoft Climate Innovation Fund as an additional participant. Alice Newcombe-Ellis of Ahren will join Heirloom's board of directors.
- At gigaton scale, Heirloom's technology has the lowest peer-reviewed cost of any direct air capture process in the world.
- The funding, among the largest private financings in direct air capture to date, will help Heirloom to scale by funding their continued research and development, and their first deployment.
- "Carbon removal is essential to hit our climate goals," said Jonathan Goldberg, founder and CEO of Carbon Direct.
- Our investment business - Carbon Direct Capital Management LLC - makes direct investments into leading carbon management technology companies.