44.01 Funding News – 44.01 Raises $37 Million Series A Funding led by Equinor Ventures

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The fundraise reflects confidence in the potential of 44.01’s mineralisation technology to eliminate CO2 safely, permanently and at scale. The funding will enable 44.01 to continue to refine its technology, develop commercial-scale projects, and expand its deployment internationally.

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Talal Hasan, Founder and CEO of 44.01, said “We believe mineralisation can play a significant role in protecting and repairing our climate. We are grateful to our investors for committing to that mission and for demonstrating their confidence in our technology. Permia Sensing funding news – Agritech Startup Permia Sensing Raises £150k For AI-driven Palm Farming SolutionOur investors bring a wealth of international expertise and experience that will help us to accelerate our development and ultimately mineralise CO2 at scale world-wide.”

Mafic and ultramafic rock formations capable of mineralising CO2 are found on every continent making 44.01’s mineralisation technology a truly global climate solution. Mineralisation projects can be built quickly and modularly, offering a cost-effective alternative to conventional geological carbon storage. 44.01 has completed successful pilot projects in Oman and the UAE. 44.01 won the Earthshot Prize in 2022 for the ‘Fix our Climate’ category and the company’s Project Hajar in Oman was recently announced as an XPRIZE Carbon Removal Top 20 Finalist.

Head of Equinor Ventures, Lars Klevier, said “Equinor Ventures is proud to announce the investment in 44.01, a company specializing in carbon dioxide (CO2) mineralisation technology. This investment represents another step in Equinor's commitment to test and explore innovative solutions for climate change mitigation. We are excited to support 44.01 as they continue to break new ground in CO2 mineralisation and look forward to work together to mature the technology and verify its potential.”

Mahmoud Adi, Founding Partner of Shorooq Partners, commented on the investment: "We are thrilled to make our first lead investment in climate tech with 44.01, a company at the forefront of innovative carbon sequestration solutions globally. The UAE has been playing a vital role in advancing climate tech initiatives with the nation’s leadership paving the way, and we are proud to contribute to this mission. We believe in the transformative potential of 44.01’s mineralisation technology, which offers a safe, permanent, and scalable solution to CO2 elimination. This investment aligns with our vision of fostering groundbreaking technologies that address critical global challenges and move towards a more sustainable and safer future."

About 44.01

44.01 eliminates CO2 by turning it into rock. The company’s pioneering technology accelerates the natural process of CO2 mineralisation to remove captured CO2 permanently in less than twelve months. 44.01 takes CO2 captured directly from the air, or from hard-to-abate industrial processes, helping decarbonise vital industries and ultimately return the atmosphere to sustainable levels of CO2. The process is safe, scalable and lasts forever.