CarbonBlue Lands $10M Funding to Scale Up Innovative CO2 Removal Technology

Climate-tech startup CarbonBlue has announced the successful completion of a seed funding round, raising a total of $10 million to advance its revolutionary water-based Carbon Dioxide Removal (CDR) technology. This funding highlights CarbonBlue's status as a leading innovator in the climate-tech industry. The funding will enable the company to grow its global operations, improve its technology, and explore new opportunities for integration with water-utilizing industries.

CarbonBlue's Direct Water Capture technology is notable for its ability to utilize any type of water in its environmentally friendly process. This versatility enables it to integrate seamlessly with any facility that uses water, offering the potential to transform existing water infrastructure into a valuable asset for carbon dioxide removal in the battle against global warming.

The funding round was led by Ibex Investors and FreshFund, with participation from strategic investors Engie New Ventures and ZIM Ventures, the corporate venture capital branch of ZIM Integrated Shipping Services. The round also saw additional investments from existing investors Jibe Ventures, MoreVC, and Secret Chord Ventures.

"The completion of our seed round represents a crucial milestone in our company's journey," said Dr. Dan Deviri, CarbonBlue co-founder and CEO. " This funding will allow us to strengthen our collaborations with major stakeholders in the climate, energy, and water sectors, and further develop and apply our technology. The support from industry leaders not only validates our approach but also underscores their recognition of climate change's impact on their core businesses and the significant role CarbonBlue plays in addressing this global challenge."

"CarbonBlue's process is a win-win, improving ocean health while permanently removing CO2, and all without using any chemicals. "Their swift progress in technology and operations has been impressive since Frontier began supporting them last year," said Frauke Kracke, Science Lead at Frontier and Stripe Climate.

"What distinguishes CarbonBlue from other CDR players is their capability to directly support and integrate with critical infrastructure projects like efuels and desalination. The synergy between CDR and industry co-benefits is the unique strength that Dan and Iddo, the co-founders, have perfected. "Their strategic partnerships and investors underscore the success of this approach," added Jonathan Schwartz, investor at Ibex Investors.

CarbonBlue is an Israeli climate tech startup specializing in CO2 removal from the environment using water and water-based infrastructure. Established in 2022, the company is building a facility integrated with the Maagan Michael desalination plant and is pursuing projects across Europe, the MENA region, and North and South America.