Company’s technology already piloted in Oman and the UAE
44.01 announces the completion of a $37m Series A funding round. The round is led by Equinor Ventures with Shorooq Partners in the UAE, as well as (in alphabetical order) Air Liquide Venture Capital (ALIAD), Alumni Ventures, Amazon’s Climate Pledge Fund, Climate Investment, Innovation Development Oman, Planet A Ventures, Salica Oryx Fund, Siemens Financial Services, Sumitomo Corporation and several other investors.
The fundraise reflects confidence in the potential of 44.01’s mineralisation technology to eliminate CO2 safely, permanently and on a scale. The funding will enable 44.01 to continue to refine its technology, develop commercial-scale projects, and expand its deployment internationally.
Mineralisation
“We believe mineralisation can play a significant role in protecting and repairing our climate. We are grateful to our investors for committing to that mission and for demonstrating their confidence in our technology,” stated Talal Hasan, Founder and CEO, 44.01.
“Equinor Ventures is proud to announce the investment in 44.01, a company specialising in carbon dioxide (CO2) mineralisation technology,” observed Lars Klevier, Head of Equinor Ventures.
“We are thrilled to make our first lead investment in climate tech with 44.01, a company at the forefront of innovative carbon sequestration solutions globally,” noted Mahmoud Adi, Founding Partner, Shorooq Partners.
Decarbonisation
“Amazon remains committed to our decarbonisation efforts and supporting efforts that aim to help remove carbon from our atmosphere,” remarked Jamey Mulligan, Head of Carbon Neutralization, Amazon.
‘We believe 44.01’s innovative carbon mineralisation technology could contribute to efficient industrial decarbonisation around the world,” commented Cindi Bough, Managing Director, Ventures, Climate Investment.
44.01 eliminates CO2 by turning it into rock. The company’s pioneering technology accelerates the natural process of CO2 mineralisation to remove captured CO2 permanently in less than twelve months, a press statement concluded.
