Waste Brine-to-Carbon Capture Startup Energized by $27.5M Series A Funding
Capture6, a water-focused carbon removal company based in California and New Zealand, has announced $27.5 million in Series A and project funding to scale up commercialization of its process converting brine water into mineralized carbon dioxide (CO2).
Capture6's system transforms waste brine, normally expensive to dispose of, into a solvent that directly mineralizes CO2 in a single step different from traditional direct air capture methods using energy-intensive multi-step processes.
"Climate change is creating water insecurity for much of the world's population, driving up demand for freshwater worldwide, and exacerbating the root problem as current methods of water treatment are carbon intensive," said Capture6 CEO Ethan Cohen-Cole, in a statement. "Our approach reduces waste streams from desalination and wastewater treatment while generating new water sources, lowering waste disposal costs, improving the efficiency of water production facilities, and decarbonizing projects simultaneously."
Waste brine can be created from desalination (converting seawater to freshwater) plants or from industrial sources such as produced water from oil and gas production. Food preservation and manufacturing waste streams also can produce waste brine.
The process also is touted to create green chemicals for water facilities while recovering additional freshwater from brine that would otherwise be wasted. As the World Economic Forum projects freshwater demand to exceed supply by 40 percent by 2030, Capture6 offers a practical solution by addressing both climate and water security challenges within existing infrastructure.
Capture6 was advised by financial advisor Rothschild & Co. for the capital raise and the round was led by private equity firm Tetrad Corporation, with participation by Hyundai Motor Group's ZER01NE Ventures, Energy Capital Ventures, Elemental Impact, Bridge Investment, Sopoong Ventures, Third Derivative, Stan and Jane Rodbell, and the Jacob S Shapiro Foundation. The Series A raise will allow Capture6 to advance water recovery and carbon removal projects in its global pipeline.
The company has partnered with Palmdale Water District to eliminate the need for up to 100 acres of brine ponds and save up to 40 percent in lifetime costs through the use of their technology at a new facility. Capture6 is helping the District provide Southern California residents with new water supplies while helping the state meet its goal for carbon neutrality by 2045. (See photo above, courtesy Carbon6).
Capture6 has announced four water positive carbon capture facilities across three continents. The company is developing a global pipeline, working with industrial partners in the U.S., Republic of Korea, New Zealand, Australia, and the Middle East.
Other companies such as Fortera are working to mineralize and repurpose CO2 from industrial emissions into cement materials and other uses.
