Mission Zero Technologies (MZT), a UK-based direct air capture (DAC) company, has raised GBP 21.8 million (USD 27.7 million) in a Series A funding round led by 2150. This brings the company's total funding to USD 38.7 million.
The funding will be used to develop a mass-deployable DAC product, which has the potential to scale from removing 1,000 tons of CO2 from the atmosphere per annum to megaton-level annual capacity by the end of the decade.
World Fund, Fortescue, Siemens Financial Services, and Breakthrough Energy Ventures also supported the round.
By the end of 2024, the company claims to have three systems operational pioneering in CO2 mineralization, carbon-negative building materials, and sustainable aviation fuel.
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