Heirloom

Heirloom is a direct air capture (DAC) company that permanently removes CO2 from the atmosphere by leveraging carbon mineralization. The company states that its technology has the lowest peer-reviewed cost of any DAC process in the world.

In November 2023, Heirloom opened the first commercial DAC facility in the US in Tracy, California. It utilizes limestone to absorb captured CO2. In June 2024, the company announced the launch of two additional DAC facilities in Louisiana that will remove 320,000 tons of CO2 annually.

Key customers and partnerships

The company has attracted several early customers including Microsoft, Stripe, Shopify, Klarna, Milkywire, Sourceful, and Wise. Heirloom attempts to remove one billion tons of CO2 from the atmosphere by 2035.

In February 2023, the company partnered with CarbonCure Technologies, a company converting captured CO2 into green concrete products, to build carbon-removing concrete. In November 2023, the companies extended their partnership to develop a DAC Hub in Illinois, US. In September 2023, Heirloom signed a multi-year deal with Microsoft to remove ~315,000 metric tons of CO2.

In October 2023, the company signed license and collaboration agreements with Leilac, a decarbonization technology company, to deploy electric kilns made from Leilac's technology at Heirloom DAC facilities. In November 2023, Heirloom powered its first DAC facility from renewable energy supplied by Ava Community Energy. In the same month, the company received USD 26.6 million from Frontier, an advanced market commitment (AMC) for carbon removal technologies, for the removal of 26,900 tons of CO2 by 2030 from its next commercial facility.

Funding and financials

Heirloom’s last funding round was in March 2022, when it raised USD 53 million in a Series A co-led by Carbon Direct Capital Management, Ahren Innovation Capital, and Breakthrough Energy Ventures. The proceeds were used to scale up R&D activities.