London-based carbon capture startup Mission Zero Technologies has secured £21.8m in an investment round backed by a venture fund from Microsoft co-founder Bill Gates.
Founded in 2020, Mission Zero Technologies is developing technology to scale the process of removing carbon dioxide from the atmosphere to prevent further global temperature rises.
Mission Zero Technologies has built electrochemical direct air capture (DAC) technology, which it claims is a cost-effective and highly scalable method to remove carbon from the air.
The company said its tech can recover up to 250 tonnes of carbon dioxide a year from the atmosphere.
“Our new partners’ 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,” said Dr Nicholas Chadwick, Mission Zero Technologies CEO.
The Series A funding round was led by investor 2150 and featured participation from World Fund, Fortescue, Siemens Financial Services and Breakthrough Energy Ventures, a clean energy investment vehicle founded in 2015 by Gates.
“Mission Zero has gone from concept to commercial deployments in just three years and built a team with the technical talent and drive to rapidly deploy the most competitive DAC in the market,” said Christian Jølck, co-founder and partner at 2150.
In December, Mission Zero established the UK’s first DAC plant in partnership with the University of Sheffield. The joint project is part of the Translational Energy Research Centre (within the university) to validate sustainable aviation fuel made from air to decarbonise the sector.
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