Canadian carbon-capture firm exceeds financing target, will establish first commercial operation GlobeBusiness
This illustration provided by Carbon Engineering in October 2018 shows one of the designs of the company's devices used to remove carbon dioxide from the atmosphere.Canada-based Carbon Engineering has exceeded its financing target which will enable it to deploy its first commercial operation to remove carbon dioxide directly from the air, it said on Thursday.
The firm told Reuters in January that it expected to reach a $60 million financing target by the end of the first quarter.It said on Thursday it has completed an equity financing round of $68 million, the largest private equity investment made into a direct air capture company to date. The company has been removing CO2 from the atmosphere since 2015 at a pilot plant in British Columbia and converting it into fuel which can power cars, trucks and aeroplanes since 2017.
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