Today cleantech direct air capture (DAC) company Mission Zero Technologies announced it has raised £21.8 million in Series A funding. Since its foundation in 2020, Mission Zero has rapidly pioneered a versatile new direct air capture technology for any industrial use case, location, and scale.
Inspired by the biological processes that manage CO₂ in the body, Mission Zero utilises electricity and a liquid solution to capture atmospheric CO₂ in its organic form. Hyper-efficient electrochemical separation continuously regenerates the capture solution and concentrates CO₂ as a pure gas.
The technology is built for rapid scaling and deployment and is cost-effective even at a smaller scale. It achieves this by leveraging proven components, established supply chains, and a modular design for global use.
Mission Zero’s technology is energy efficient and compatible with load-variable renewable sources, allowing it to flexibly ramp up and down to provide on-demand atmospheric CO₂ directly at the point of use. The business is already working to empower diverse carbon removal and utilisation pathways. It seeks to democratise access to a radical new source of sustainable, circular carbon and end dependence on fossil fuels.
Mission Zero represents one of the few pioneers in the direct air capture space to have moved beyond self-financed R&D pilot plants to commercially funded deployments with international customers. By the end of 2024, Mission Zero will have three systems on the ground in projects pioneering CO₂ mineralisation, carbon-negative building materials, and sustainable aviation fuel.
2150 leads the funding, with participation from World Fund, Fortescue, Siemens Financial Services and Breakthrough Energy Ventures.
According to Dr Nicholas Chadwick, CEO of Mission Zero Technologies:
“We are delighted to welcome VCs and strategic investors with some of the strongest environmental credentials of any investors on the planet.
Their world-leading manufacturing acumen and deep alignment with our vision will be catalytic in allowing us to scale DAC rapidly and responsibly for maximum positive climate impact.”
Christian Jolck, Co-founder and Partner at 2150, shared:
“Mission Zero’s novel technology unlocks mass deployable, low cost, energy efficient DAC, enabling effective carbon removal while also providing a circular CO₂ source that cities can use to make fuel, chemicals, building materials, and more.
Mission Zero has gone from concept to commercial deployments in just three years and built a team with the technical talent and drive to deploy the most competitive DAC in the market rapidly.
We are excited to support Mission Zero in their ambition to deliver climate impact at scale as the world needs solutions like this to meet the Paris Agreement goals.”
The funding will help Mission Zero accelerate the development of a mass deployable DAC product that recovers 1,000 tonnes of atmospheric CO₂ a year and can be flexibly scaled to unlock megatonne annual capacity by the end of the decade.
Lead image: Mission Zero Technologies. Photo: uncredited.
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