Breakthrough Energy Ventures is an investor-led fund made up of members of the Breakthrough Energy Coalition, guided by scientific and technological expertise and committed to investing patiently in developing new ways to live, eat, travel, and build. Breakthrough Energy Ventures provides reliable and affordable power without contributing to climate change. Breakthrough Energy invests in new technologies that make power reliable and affordable for everyone while not warming the planet.

Breakthrough Energy Ventures

Anglo American is one of the world’s largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges.  Their portfolio of mining businesses meets our customers' changing needs and spans bulk commodities – iron ore and manganese, metallurgical coal and thermal coal; base metals and minerals – copper, nickel, niobium, and phosphates; and precious metals and minerals – in which they are a global leader in both platinum and diamonds. Anglo American plc operates in the mining industry. The company’s portfolio of mining assets includes precious, base, and bulk commodities. Business The company’s mining businesses are Platinum, Diamonds, Base Metals, Iron Ore (Ferrous Metals), and Coal. It has operations in approximately 45 countries. Platinum The company mines, processes and refines platinum group metals (platinum, palladium, rhodium, ruthenium, iridium, and osmium).  All of Anglo Platinum’s operations are located in South Africa. Anglo Platinum wholly owns five mining operations, a tailings re-treatment facility, three smelters, a base metals refinery, and a precious metals refinery, all in the Limpopo and North West provinces of South Africa. Each of its mines operates its own concentrator facilities, smelting and refining the output at Rustenburg Platinum Mines’ metallurgical facilities.  The company’s 100% owned mining operations comprise Rustenburg Platinum Mines’ Rustenburg, Amandelbult, Mogalakwena, and Twickenham sections as well as Lebowa Platinum Mines, 51% of which is held for sale. Rustenburg Platinum Mines’ Union Section is 85% held, with black economic empowerment (BEE) partner, the Bakgatla-Ba-Kgafela traditional community, holding the remainder.  Anglo Platinum also has a 50:50 joint venture with a BEE consortium, led by African Rainbow Minerals, over the Modikwa platinum mine, a joint venture with Royal Bafokeng Resources, a BEE partner, over the combined Bafokeng-Rasimone platinum mine and Styldrift properties and a joint venture with Xstrata over the Mototolo mine. In addition, Anglo Platinum has joint ventures with Aquarius Platinum covering the shallow reserves of the Kroondal and Marikana mines and portions of the reserves at Anglo Platinum’s Rustenburg Section.

Anglo American

Deep Science Ventures is an accelerator that works with scientists to build companies, from scratch, across domains from biochemistry to nano-tech. They provide a basic salary to fund the first 3 months of the program, followed by a £30k investment into those teams that demonstrate the commercial and technical viability of their startup.  It is based in London, United Kingdom.

Deep Science Ventures

2150 backs technology companies who aim to shape the sustainable cities of the future. It was founded in 2020 and is headquartered in Copenhagen, Hovedstaden, Denmark.

2150

Siemens Financial Services support Siemens and external companies with innovative financing. Siemens Financial Services support Siemens and external companies with innovative financing. By drawing on its financial and technological expertise, they create value for its customers and enhance its competitiveness.

Siemens Financial Services

Fortescue Future Industries (FFI) is a global green energy and product company committed to producing zero-emission green hydrogen from 100 percent renewable sources.

Fortescue Future Industries

World Fund is a European Climate Tech VC fund investing in startups that contribute to solving the climate crisis. It focuses on the key emitting sectors Energy, Food & Agriculture, Manufacturing, Buildings, and Transport. World Fund aims to fill two significant investment gaps for climate tech: when tech goes from lab to market and when it leaves the pilot stage to scale. World Fund will invest from Seed to Series B stage. World Fund was established by Daria Saharova, Danijel Višević, Craig Douglas, Christian Kroll, and Tim Schumacher.

World Fund

Mission Zero

Mission Zero is a DAC startup with patent-pending breakthrough technology and close the carbon cycle.

UK-based Mission Zero Technologies develops direct air capture (DAC) technology that can recover high-purity carbon dioxide (CO2) from the atmosphere. Mission Zero Technologies is a spinout from Deep Science Ventures, a UK-based R&amp;D company.

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

Mission Zero Technologies

UK tech funding roundup: This week’s deals from Mission Zero to Meysey

UK-based Mission Zero Technologies develops direct air capture (DAC) technology that can recover high-purity carbon dioxide (CO2) from the atmosphere. Mission Zero Technologies is a spinout from Deep Science Ventures, a UK-based R&amp;D company.Key customers and partnershipsIn May 2021, the company received an award of USD 500,000 from Stripe. The award also included an early purchase fee for up to USD 1 million worth of CO2 captured from an upcoming pilot project. The company supplied DAC solutions to Stripe for USD 319 per ton and was expected to further reduce the cost to USD100 per ton. In December 2023, Mission Zero deployed its first commercially-financed direct air capture (DAC) system to the University of Sheffield's TERC, a world-leading zero-carbon energy research institution.Mission Zero was to work closely with Optimus, O.C.O Technology, and Equinor for the pilot project known as DRIVE. During the second implementation phase, the project was expected to bring Mission Zero’s DAC technology to commercial maturity by the end of 2024. In&nbsp;<a href="https://sp-edge.com/updates/22165">September 2023</a>, Mission Zero partnered with Deep Sky, a Canadian carbon removal project developer, to deploy DAC plants in Canada as a part of its Alpha Lab test facility, and in&nbsp;<a href="https://sp-edge.com/updates">October 2024</a>, Mission Zero deployed its third modular DAC plant to Deep Sky, marking its first international installation.&nbsp;&nbsp;

Prometheus follows a next-gen electro-chemical-based approach to convert CO2 into carbon-neutral fuel using renewable energy and carbon nanotubes. Industrial fans suck ambient air and blow it across a waterfall that absorbs CO2 and additional water. The electricity “charges” and “energizes” captured carbon with hydrogen molecules from water to create long-chain alcohols. Alcohols are then harvested using a special type of membrane called the Maxwell Core. Its pores are carbon nanotubes, which allow alcohol through while rejecting water. A final catalyst step combines the alcohols and recovers water. The company claims that it is the only one in the world that can separate alcohol from water economically. This step can be customized to produce gasoline, diesel, or jet fuel.In <a href="https://prometheusfuels.com/news/our-finished-commercial-scale-stack-design-unlocks-lowest-cost-fuel">October 2022</a>, Prometheus completed the design of the commercial-scale cell and stack Titan Fuel Forge.Key customers and partnershipsIn June 2019, Prometheus partnered with Boom Supersonic (a company building the world’s fastest supersonic airliner) to supply carbon-neutral fuel for the flight test program of one of its demonstrator aircraft scheduled for 2021. In July 2021, the company entered into a purchase agreement with American Airlines to supply 10 million gallons of carbon-neutral jet fuel.&nbsp;

Prometheus Fuels

UK-based Storegga Geotechnologies (Storegga) provides carbon capture and storage (CCS) solutions for energy-intensive sectors such as petrochemicals, agriculture, and airlines. In July 2020, Storegga acquired Pale Blue Dot Energy (PBDE), through which the company became the lead developer of the Acorn CCS Project (the UK’s first large-scale carbon capture project). In August 2022, Storegga launched a new entity <a href="https://sp-edge.com/updates/11990">“Storegga Americas” </a>to explore clean fuel opportunities and to scale up its operations across the US, Canada, Latin America, and the Caribbean.Key customers and partnershipsIn June 2021, Storegga partnered with Carbon Engineering, a Canadian direct air capture (DAC) startup, to initiate engineering and designing a new facility in North East Scotland, which could remove between 500,000 and one million metric tons of CO2 from the atmosphere annually. The project was backed by a UK government grant of GBP 249,000 received in May 2021. In July 2021, Acorn CCS signed a memorandum of understanding (MoU) with SEGAL and FUKA gas terminals to capture carbon dioxide (CO2) from its operations. The two gas terminals will become the first customers for Acorn CCS. In August 2021, Storegga signed an MoU with Virgin Atlantic to secure the airline as an early customer.&nbsp;In March 2022, Storegga <a href="https://sp-edge.com/updates/9378">partnered</a> with Mitsui to commercialize its proprietary DAC technology. In June 2022, the company signed an MoU with <a href="https://sp-edge.com/updates/11230">Aker Carbon Capture</a> to deploy CCS projects in the UK. Other partners include Sval Energi, Talos Energy, Freeport LNG and <a href="https://sp-edge.com/updates/10230">ScottishPower</a>.In August 2023, Storegga together with Sval Energi, a Norwegian energy provider, and Neptune Energy, a UK-based oil and gas explorer, <a href="https://sp-edge.com/updates/21191">secured</a> their <a href="https://sp-edge.com/updates/16698">previously applied</a> CO2 storage license to develop the Trudvang CCS project in the Norwegian North Sea. In October 2023, the company signed an MOU with <a href="https://sp-edge.com/updates/22815">Svante</a> to develop CCUS projects by combining Svante's carbon capture and removal filter technology and Storegga's CO2 transportation and storage expertise. In <a href="https://sp-edge.com/updates/32814">August 2024</a>, the company partnered with PETRONAS and ADNOC to evaluate offshore CO2 storage capabilities in Malaysia.&nbsp;&nbsp;&nbsp;&nbsp;

Storegga Geotechnologies

Carbfix is an Icelandic carbon sequestration company that stores captured carbon dioxide (CO2) permanently underground. During the pilot phase of Carbfix, findings revealed that over 95% of the injected carbon dioxide mineralized within two years, in contrast to the previous understanding that it would take several hundred or thousands of years. Carbfix began as an academic-industrial research project in 2007 and was established as a subsidiary of Reykjavik Energy (OR), an Icelandic geothermal company, in 2019. Carbfix was spun out of OR in January 2020.As the technology requires vast amounts of water to dissolve carbon dioxide, in June 2021, Carbfix’s technology was validated to be used with seawater—applicable in regions where fresh water is scarce. The use of seawater with Carbfix’s technology is experimental, with a field pilot project scheduled in Iceland for 2022.Key customers and partnershipsIn August 2020, Climeworks, a Swiss company specializing in direct air capture (DAC) technology, along with ON Power, a Swiss geothermal energy provider, signed an agreement with Carbfix to scale up CO2 removal and storage. From September 2021, the new facility, located in Iceland, is expected to remove 4,000 tons of CO2 from the atmosphere per year. In 2017, Climeworks and Carbfix also partnered to operate a small-scale DAC and storage facility of 900 metric tons per year, also in Iceland.In July 2021, Aker Carbon Capture, a Norwegian carbon capture company, signed a memorandum of understanding (MoU) with Carbfix to collaborate on cost-efficient carbon capture and storage solutions. Elkem, a Norwegian environmentally responsible manufacturer of materials, has also partnered with Carbfix to reduce emissions of its alloys plant in Grundartangi, Iceland.In <a href="https://sp-edge.com/updates/21311">August 2023</a>, the company partnered with the University of Edinburgh (UoE) and the Scottish Universities Environmental Research Centre to evaluate CO2 mineralization in Iceland. In <a href="https://sp-edge.com/updates/23535">November 2023</a>, Carbfix injected dissolved CO2 in seawater underground in partnership with the universities of Geneva and Switzerland, Iceland GeoSurvey (ISOR), and University College London.In <a href="https://sp-edge.com/updates/28975">April 2024</a>, Carbfix partnered with Deep Sky, a Canadian carbon removal project developer to explore potential CO2 mineral storage options in Canada.Funding and financialsIn July 2022, Carbfix was awarded a grant of ISK 16 billion (USD 117 million) from the EU Innovation Fund for the deployment of its Code Terminal project (a CO2 transport and storage hub) to capture 3,000,000 tons of CO2 per annum by 2031.

Carbfix

Global Thermostat specializes in Direct Air Capture (DAC) technology to remove carbon dioxide (CO2) from the atmosphere. The company employs a proprietary process using amine-based adsorbents to capture CO2, which is then concentrated for various applications, including storage and conversion into fuels, chemicals, and other products. This technology aims to transform CO2 from a climate liability into a valuable resource, contributing to a circular carbon economy​In <a href="https://sp-edge.com/updates/29707">May 2024</a>, the company was acquired by Zero Carbon Systems, a developer of CO2 removal technologies, for an undisclosed sum.Key customers and partnershipsAs of August 2021, Global Thermostat had two pilot facilities in California and Alabama, each with the capacity to remove 3,000–4,000 metric tons of carbon dioxide per year. Since 2019, Global Thermostat has been in a partnership with ExxonMobil to scale commercially.In April 2023, Global Thermostat unveiled one of the world’s largest DAC units that permanently captures CO2 from the atmosphere. The unit had been under trial since the end of 2022, capturing 1,000 tons of CO2 per annum at the company’s US headquarters in Commerce City, Colorado. The DAC unit launched was a commercial-scale demonstration, with the company taking on pre-orders for DAC systems.In <a href="https://sp-edge.com/updates/26251">February 2024</a>, the company commissioned its first containerized T-Series system for the multi-ton scale DAC, with two microalgae producers, MicroBio Engineering Inc and Cyanotech Corporation, using this system to improve the production of microalgae biomass for renewable fuels in Kailua-Kona, Hawaii.Funding and financialsMost recently in May 2023, the company received an undisclosed investment from Sumitomo Corporation, via its US-based venture arm Presidio Ventures. The two companies had also signed a letter of intent (LoI) to identify and develop CCS projects globally.

Global Thermostat

Remora’s devices capture carbon emissions directly from truck tailpipes. They can be fitted onto tailpipes of existing trucks to capture carbon dioxide (CO2) for 600–1,200 miles before an offload. Remora’s solution was initially funded by the Environmental Protection Agency (EPA) and tested at the agency’s National Vehicle and Fuel Emissions Lab.The company’s technology has a capture efficiency of 80% and can offload the captured CO2 while refueling—to be sold to concrete producers and other end users. The proceeds from the sale of CO2 are expected to be shared across fleet owners and customers once commercialized. Funding and financialsIn February 2024, the company raised an undisclosed amount in a Series A funding round led by Voyager Ventures.&nbsp; Key competitors: None comparable (Remora is the only startup that captures carbon from truck tailpipes)

Remora

Solutions that capture CO2 from flue-gas stacks including both industrial stacks and vehicle tailpipes.

Solutions that capture CO2 from ambient air, including from indoor spaces.

Solutions that “recycle” captured CO2 to produce commercial products other than sustainable fuel, such as proteins, plastics, building materials, etc.

Solutions that permanently store captured CO2 underground.

Solutions that “recycle” captured CO2 to produce sustainable fuels

Recycles captured CO2 emissions to produce sustainable fuels and other products

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 UK-based direct air capture (DAC) company, Mission Zero Technologies (MZT), is setting up its third modular DAC system at Deep Sky Labs in Innisfail, Alberta, Canada. Deep Sky is MZT's partner in carbon removal innovation and commercialization. 
 This expansion to Canada aids MZT in proving the viability of their DAC technology in varying climates and industrial settings, specifically in sub-zero temperatures. The operation, relying on renewable solar energy, has the capacity to capture approximately 250 tons of CO2 annually and can increase scalability to capture between 100,000 and one million tons of CO2 each year.&nbsp;
 
</div> Analyst QuickTake: 
 In <a href="https: 
//sp-edge.com/updates/22165"> September 2023 </a> , MZT and Deep Sky partnered to deploy DAC facilities in Canada. The company's DAC system for Deep Sky went from contract to installation in just 12 months, demonstrating MZT's ability to scale commercial DAC technology rapidly. This DAC deployment is MZT's first international installation and third overall deployment, following the company’s two UK sites: 
 First in Sheffield and second in Norfolk.

Mission Zero Technologies

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