What is the story about?
What's Happening?
Equatic, a California-based company specializing in carbon dioxide removal and green hydrogen production, has closed a Series A funding round led by Catalytic Capital for Climate and Health (C3H), securing $11.6 million. The investment will support the development of Equatic's first 100-kilotonne carbon dioxide removal commercial facility. The funding will accelerate the engineering and commercialization of Equatic's seawater electrolysis technology, which captures atmospheric carbon dioxide and produces green hydrogen. The company aims to advance net-zero pathways through its innovative technology.
Why It's Important?
Equatic's technology represents a significant advancement in addressing climate change by combining carbon removal with green hydrogen production. The investment highlights the growing interest and support for technologies that offer scalable solutions to reduce carbon emissions and promote clean energy. As industries and governments seek effective ways to combat climate change, Equatic's approach provides a promising avenue for achieving decarbonization goals. The successful funding round reflects confidence in the company's ability to deliver impactful climate solutions.
What's Next?
Equatic plans to expand its operations with a demonstration plant in Singapore and a commercial-scale plant in Canada. The company is also recognized for its high-quality carbon credits and rigorous monitoring practices, which have earned it accolades from the U.S. Department of Energy and other organizations. As Equatic continues to develop its technology, it may play a crucial role in the global effort to mitigate climate change and transition to sustainable energy sources.
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