• Carbon Clean, a UK-based provider of modularized carbon capture solutions, raised USD 150 million in Series C funding led by Chevron. 

• Existing investors CEMEX Ventures, Marubeni Corporation, and WAVE Equity Partners, and new investors AXA IM Alts, Samsung Ventures, Saudi Aramco Energy Ventures, and TC Energy also participated in the round.

• Carbon Clean and Chevron are also looking to develop a technology demonstration pilot that will test the former’s latest technology, CycloneCC, at one of Chevron’s co-generation plants in San Joaquin Valley, California.

<ul><li> Analyst QuickTake: The new round brings Carbon Clean’s total funding to USD 212.4 million, having raised USD 30 million in Series B funding in August 2021. This makes Carbon Clean the highest funded pure-play flue-gas capture startup and third-highest funded CCUS startup behind Climeworks and LanzaTech . The new round is also the second-largest in the CCUS space behind Climeworks’ massive USD 650 million raise last month.</ul>