Cool Planet Technologies Secures €23.7 Million to Expand Low-Cost Carbon Capture Deployment

Cool Planet Technologies, a pioneer in carbon capture innovation, has recently clinched €23.7 million in Series A2 funding, highlighting the surging demand for effective and economical carbon emission reduction solutions. Led by Taranis Carbon Ventures and supported by industry heavyweights such as CRH Ventures and BlueScopeX, alongside returning investors Eni Next, NEVA SGR, and Audacy Ventures, this funding round propels Cool Planet towards rapid commercialization of its revolutionary, energy-efficient carbon capture technology.

The capital infusion will expand Cool Planet's manufacturing operations and scale up the deployment of its technology, primarily targeting point-source emissions. This strategic focus is expected to diminish industrial facilities' carbon footprints considerably.

Following its previously oversubscribed Series A1 round in September 2022, this successful capital raise reinforces Cool Planet's status as a leader in the burgeoning carbon capture sector.

Andrew Corner, CEO of Cool Planet Technologies, stated: "We are delighted to have the support of these three new major industrial investors, and we want to thank our existing investors for their continued support. The investment is a significant endorsement  and demonstrates their confidence in the technical advantage and commercial potential of our  technology as well as the Cool Planet team."

"Cool Planet is committed to bringing affordable, modular decarbonisation solutions to industries and sectors that historically have been hard to decarbonise. We  believe that our technology will significantly reduce the cost of carbon capture and help to accelerate  its adoption at scale."

"This investment will enable us to demonstrate both the potential of our technology at scale and how  Cool Planet will become a leading player in providing affordable solutions to help decarbonise multiple industries. We look forward to demonstrating our advanced modular membrane capture technology  next year at a plant capturing 10,000 tonnes per annum of carbon dioxide at Holcim's Höver cement  plant near Hannover in Germany."