Startup backed by Bill Gates raises $27M (CAD 36M) for carbon capture tech
The startup Mission Zero Technologies, supported by Bill Gates, has successfully raised over $27 (CAD 36) million for the development of technology to capture carbon dioxide directly from the atmosphere. This advancement will enable the acceleration and recovery of up to 1,100 tonnes of carbon annually.
The current climate situation is concerning—even with the progress in renewable energy sources, greenhouse gas emissions continue to rise. The year 2024 is projected to be the hottest in history, with the average temperature on Earth expected to reach a level 1.5 degrees Celsius higher than pre-industrial levels. In this context, the British startup Mission Zero Technologies is concentrating its efforts on revolutionizing carbon dioxide capture technology from the atmosphere to help combat the climate crisis.
How does CO2 air capture work?
What does capturing carbon dioxide from the air involve? The company employs continuous electrochemical separations to absorb CO2 using liquid solutions. This technology is inspired by natural processes of carbon dioxide management in the human body. The startup has already raised over $27 (CAD 36) million for developing this direct carbon dioxide capture technique from the atmosphere. This will enable the acceleration and recovery of up to 1,100 tonnes of carbon annually, with Bill Gates among the investors.
Unlike CCS (carbon capture and storage), DAC (Direct Air Capture) captures carbon dioxide from the air, but not during the combustion of fossil fuels. As the world surpasses Paris Agreement targets, innovations like DAC become crucial for stabilizing atmospheric carbon dioxide levels. Expanding CO2 utilization is key to enabling this technology's large-scale commercial deployment.
Three such capture systems are already operational
Mission Zero Technologies already operates three DAC systems in the UK and Canada. In Canada, they collaborate with Deep Sky on a project with the ultimate goal of removing up to a million tonnes of CO2 annually.
"If you can find ways to utilise CO2, then you can actually change the narrative on that and provide alternative pathways for carbon-based products to make our relationship with carbon more sustainable," said Nicholas Chadwick, co-founder and CEO of MZT, in an interview with "The Engineer".
Goal: Recover one billion tonnes of CO2 annually
The company aims to recover one billion tonnes of atmospheric carbon dioxide each year and promote a decentralized source of thrust for products derived from atmospheric CO2. Mission Zero Technologies collaborates with partners such as Stripe, Breakthrough Energy Ventures, and the UK government to accelerate the pathway for megaton-scale carbon dioxide removal by the end of the decade.
The company is currently running three projects, each with a distinct form of CO2 application. The University of Sheffield’s Translational Energy Research Centre is producing sustainable aviation fuels from air and water. In Norfolk, OCO Technology is combining CO2 with fly ash to create carbon-negative limestone. In Montreal, Canada, Deep Sky plans to sequester CO2 in rocks, creating carbon credits.
Mission Zero Technologies is a British company based in London, founded in 2020. It specializes in the development of innovative technologies for capturing carbon dioxide directly from the air (Direct Air Capture, DAC). Their systems are designed to be modular and energy-efficient, enabling rapid scaling and adaptation to various climatic and industrial conditions. Mission Zero's solutions focus on the efficient use of CO2, which must first be effectively captured from the atmosphere.
