<div>
  <ul>
    <li>
      <p>
        Climeworks, a Swiss direct air capture (DAC) company, intends to raise USD 50 million in private investment to match USD 50 million already provided by the Department of Energy (DOE) to expand the Project Cypress DAC hub expansion.
      </p>
    </li>
    <li>
      <p>
        The funds will be used to expand Project Cypress with an additional direct air capture (DAC) facility, with construction planned to start in Q3 2026 and operations expected to begin by the end of 2027.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake:</b>
         Earlier this month, the company partnered with 
        <a href="https://sp-edge.com/updates/35212">
          CapturePoint
        </a>
        , a CO2 sequestration company, to transport and store CO2 from its Project Cypress DAC hub in Louisiana. It also signed its second-largest contract with 
        <a href="https://sp-edge.com/updates/35251">
          Morgan Stanley to remove 40,000 tons of CO2.
        </a>
         
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://carbonherald.com/climeworks-plan-to-expand-project-cypress-with-one-more-facility-receives-local-support/">
      carbonherald.com
    </a>
  </p>
</div>


Carbon Capture, Utilization & Storage (CCUS)

ANALYST_QUICK_TAKE

<div>
<p>Swiss direct air capture (DAC) firm, Climeworks, plans to raise USD 50 million in private funds, matching the same amount of money granted previously by the Department of Energy (DOE). The funds are intended for the expansion of Project Cypress DAC hub.</p>
<p>Construction for an additional DAC facility within Project Cypress is set to begin in Q3 2026, with operations projected to start by late 2027.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> Earlier this month, the company partnered with <a href="https:<br>
//sp-edge.com/updates/35212"> CapturePoint </a> , a CO2 sequestration company, to transport and store CO2 from its Project Cypress DAC hub in Louisiana. It also signed its second-largest contract with <a href="https:<br>
//sp-edge.com/updates/35251"> Morgan Stanley to remove 40,000 tons of CO2. </a></p>

Climeworks to raise USD 50 million in private funding to match DOE contribution

PROMINENT_CATEGORY

<div>
 <p>UK's Carbon Clean has introduced the CycloneCC C1 series, a new modular carbon capture system that can capture up to 100,000 tons of CO2 annually. This system, designed for CO2 concentrations between 3% and 20%, employs Rotating Packed Bed (RPB) tech and a proprietary solvent called APBS-CDRMax.</p>
 <p>Compared to traditional solutions, the CycloneCC C1 features a 70% decrease in height, needs 35% less steel, and has a 50% reduced footprint. It comes prefabricated and skid-mounted, making it easy to transport and install.</p>
 <p>Carbon Clean claims the new system can lower total installation costs by as much as 50% compared to standard solutions. Additionally, the APBS-CDRMax solvent contributes to 10-25% less energy consumption, 20x reduced corrosion, 10x reduced degradation, and a 5x longer lifespan than regular solvents.</p>
</div>

Carbon Clean launches CycloneCC C1 carbon capture system

<div>
 <p>Travertine Technologies, a startup specializing in carbon capture and industrial chemicals, has formed a partnership with Sabin Metal Corp, an independent precious metals refiner in North America. Together, they plan to construct a demonstration plant.</p>
 <p>This plant, located at Sabin Metal's facility near Rochester, New York, will incorporate three major unit operations. These include salt-splitting electrolysis, direct air capture (DAC), and sequestration. By using Travertine Technologies' process, the plant will be able to transform waste gypsum and CO2 into sulfuric acid, green hydrogen, and calcium carbonate. The plant, anticipated to be up and running by the middle of 2025, is designed to process hundreds of tons of waste gypsum every year. </p>
 <p>The project has attracted notable investments, including USD 3.2 million from the New York State Energy Research and Development Authority (NYSERDA) and a venture debt of USD 7.5 million provided by Builders Vision.</p>
</div> <p><b>Analyst QuickTake</b> :<br>
 The partnership marks a significant development in carbon capture and industrial chemical production. The demo plant will supply 50% of Sabin Metal's annual sulfuric acid needs. In addition, the combined funding follows the company’s USD 8.5 million financing round led by Holcim MAQER Ventures, with participation from the Grantham Foundation for the Protection of the Environment, Clean Energy Ventures, and Bidra Innovation Ventures in <a href="https:<br>
//sp-edge.com/updates/30828"> June 2024 </a> . The funds were used to commercialize Travertine's technology and scale up its first commercial demonstration plant.</p>

Travertine partners with Sabin Metal to build carbon-negative demo plant in New York

<div>
 <p>Canadian ocean air capture startup, Planetary Technologies, has secured a Series A funding amount of USD 11.35 million. The funding was led by Evok Innovations, with contributions from BDC Capital, Amplify Capital, DNX Ventures, and Iconiq Capital.</p>
 <p>The company will utilize the funding to expand its pilot projects and scale operations. Additionally, it intends to demonstrate the safety and effectiveness of its technology whilst partnering with local communities, academic institutions, and regulatory entities.</p>
 <p>Planetary Technologies relies on a unique technology that leverages ocean alkalinity enhancement to extract CO2 from the atmosphere. The process involves converting excess CO2 in seawater into bicarbonates, which subsequently aids in restoring acidified coastal environments and enhances the ocean's natural carbon removal process.</p>
</div>

Planetary Technologies raises USD 11.4 million in Series A funding to scale carbon removal

INCUMBENTS_PRESENT

<div>
 <p>Swiss direct air capture (DAC) company, Climeworks, has teamed up with financial services company, Morgan Stanley, to offer carbon removal solutions using DAC technology.</p>
 <p>The agreement entails Climeworks permanently removing 40,000 tons of CO2 by 2037, marking Morgan Stanley's initial purchase of DAC carbon credits. This will aid in expanding Climeworks' technology, specifically for Project Cypress, in the US.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> This is Climeworks' second largest contract to date, behind its 15-year agreement with Boston Consulting Group (BCG) to remove 80,000 tons of CO2 in <a href="https:<br>
//sp-edge.com/updates/24931"> December 2023 </a> . Earlier this month, Climeworks partnered with <a href="https:<br>
//sp-edge.com/updates/35212"> CapturePoint </a> , a CO2 sequestration company, to transport and store CO2 from its Project Cypress DAC hub in Louisiana.</p>

Climeworks signs second-largest DAC deal with Morgan Stanley to remove 40,000 tons of CO2 by 2037

<div>
 <p>Swiss direct air capture company, Climeworks, has joined forces with CO2 sequestration firm, CapturePoint Solutions. The partnership will involve the transport and storage of CO2 from Climeworks' Project Cypress DAC hub in Louisiana.</p>
 <p>CapturePoint is set to carry the captured CO2 from Climeworks' facility in Calcasieu Parish to its CENLA Hub in Vernon and Rapides Parishes for permanent underground storage. The CENLA Hub is among the largest onshore carbon storage developments in the US.</p>
 <p>The development of the Project Cypress DAC Hub will occur in two stages, starting with an initial capacity of 300,000 tons of CO2 per year, which can be upscaled to one million tons. The project has landed USD 50 million from the Department of Energy's OCED program, supplemented by an additional USD 51 million in private funds.</p>
</div>

Climeworks partners with CapturePoint Solutions for Project Cypress CO2 storage

<div>
 <p>An MIT startup, Noya, specializing in direct air capture (DAC), has teamed up with Johnson Matthey, a sustainable technologies firm based in the UK. This collaboration aims at producing Noya's unique carbon-capture sorbent using Johnson Matthey’s extensive experience and production techniques.</p>
 <p>The partnership's goal is to ramp up the production of the sorbent for Noya's imminent pilot and commercial plants. Johnson Matthey, with its two centuries of expertise, will contribute significantly to Noya's progress over the coming ten years.</p>
 <p>Noya's system not only provides clean water and grid services but also produces high-quality carbon removal credits. The joint venture is anticipated to speed up the development of DAC technology. Concurrently, it will establish its pilot facility in the San Francisco Bay Area and choose sites for its initial commercial facilities.</p>
</div>

Johnson Matthey partners with Noya to scale DAC technology

<div>
 <p>ION Clean Energy, a CO2 capture company, and Koch Engineered Solutions, an industrial solutions company, have enhanced their strategic collaboration for post-combustion carbon capture projects. </p>
 <p>The boosted partnership brings together ION's carbon capture technology with Koch-Glitsch's mass transfer process and separation equipment. The collaboration aims to refine ION's process, heighten performance, and lower cost and physical footprint for carbon capture projects. </p>
 <p>The agreement also takes into account the potential usage of Koch Specialty Plant Services for onsite vessel construction, which can contribute to making projects less risky in terms of cost, process, and constructability performance. This improved partnership is anticipated to hasten customers' projects towards the attainment of positive final investment decisions.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The two companies initially partnered in <a href="https:<br>
//www.ioncleanenergy.com/news-post/koch-engineered-solutions-announces-strategic-partnership-with-ion-clean-energy"> 2022 </a> to optimize carbon capture design across a range of industries and to deliver commercial-scale carbon capture technologies. This partnership follows ION Clean Energy’s <a href="https:<br>
//sp-edge.com/updates/28204"> USD 45 million </a> venture funding round led by Chevron New Energies. The capital infusion was expected to fuel the company’s growth and support the commercial deployment of ION's ICE-31 liquid amine carbon capture technology.</p>

ION Clean Energy and Koch Engineered Solutions expand carbon capture partnership

<div>
 <p>Decentralized direct air capture (DAC) systems developer, Skytree, based in the Netherlands, has launched its new North American headquarters in Toronto, Canada, and a new office in Nashville, Tennessee. The company plans to hire at least 80 employees in their Canadian location in the next three years. The roles will range from business development, services, operations, to research and development. </p>
 <p></p> 
</div> <p><b>Analyst QuickTake:<br>
</b> To establish its presence in North America, the company has already announced partnerships with Canadian companies such as <a href="https:<br>
//sp-edge.com/updates/28250"> Deep Sky </a> , a developer of carbon removal and sequestration projects, and <a href="https:<br>
//sp-edge.com/companies/1126468"> Fieldless Farms </a> , a producer of hydroponic leafy greens . Plans include the opening of a manufacturing facility in Canada.</p>

Skytree opens new HQ in North America; expands to Nashville

<div>
 <p>LanzaTech, a next-generation carbon transformation company listed on Nasdaq, has obtained USD 3 million in funding from the US Department of Energy's (DOE) Office of Fossil Energy and Carbon Management. This funding is a segment of a larger USD 29 million investment initiative for the advancement of carbon management priorities.</p>
 <p>The money will be utilized for Project ADAPT with the goal of enhancing LanzaTech's capacity to use CO2 as a feedstock to create isopropanol. The project will concentrate on improvements in feedstock versatility, microbial strain optimization, and the efficiency of the entire process. The production of isopropanol from recycled CO2 by LanzaTech can result in over 200% GHG savings compared to production based on fossil carbon.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> <a href="https:<br>
//sp-edge.com/updates/34752"> Earlier this month </a> , LanzaTech expanded its biorefining platform capabilities to include the production of LanzaTech Nutritional Protein (LNP), a protein made from the soil bacterium Cupriavidus necator. LNP is a microbial protein that can be used in various food applications, including for human consumption, pet food, and animal feed.&nbsp;</p>

All Updates

Climeworks to raise USD 50 million in private funding to match DOE contribution

Carbon Clean launches CycloneCC C1 carbon capture system

Travertine partners with Sabin Metal to build carbon-negative demo plant in New York

Planetary Technologies raises USD 11.4 million in Series A funding to scale carbon removal

Climeworks signs second-largest DAC deal with Morgan Stanley to remove 40,000 tons of CO2 by 2037

Climeworks partners with CapturePoint Solutions for Project Cypress CO2 storage

Johnson Matthey partners with Noya to scale DAC technology

ION Clean Energy and Koch Engineered Solutions expand carbon capture partnership

Skytree opens new HQ in North America; expands to Nashville

LanzaTech secures USD 3 million from US DOE to advance CO2 conversion

Carbon Capture, Utilization & Storage (CCUS)

Climeworks to raise USD 50 million in private funding to match DOE contribution

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