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
Photo:
https://mma.prnewswire.com/media/2466112/CarbonBlue.jpg
View original content to download
multimedia:https://www.prnewswire.com/news-releases/carbonblue-secures-10m-to-expand-groundbreaking-co2-removal-technology-302202656.html
SOURCE CarbonBlue