[Funding alert] Turin-based Climatetech Startup CarpeCarbon Secures €1.7 Million in Pre-Seed Funding

The €1.765 million Pre-Seed fundraising round for CarpeCarbon was supplied by 360 Capital and CDP Venture Capital's Tech4Planet programme. The PiemonteNext co-investment fund and the Club Degli Investitori network are other investors.

Read also - UK-based Accenture Acquire 6point6

CarpeCarbon is the first company in Italy to develop methods that employ Direct Air Capture to safely store CO2 underground after removing it from the atmosphere. With the financing, CarpeCarbon plans to create Piedmont's first DAC plant.

With CarpeCarbon's Direct Air Capture technique, CO2 is directly filtered from the atmosphere at any location, as compared to carbon capture, which occurs at the point of emission.

Read also - SUPPLYZ Rebrands as RESONIKS and Secures Investment from Kvanted

Subterranean storage of this captured CO2 allows for a variety of industrial uses, such as the produce of sustainable aviation fuels, pharmaceuticals, electric vehicle battery recycling, carbon-neutral construction supplies, carbonated beverage production, and decaffeinated products.

CarpeCarbon co-founder and CEO Giuliano Antoniciello shared: "We strongly believe in this entrepreneurial project which sets bold but necessary goals if we want to meet our climate goals and the goals of the Paris Agreement. One aspect of which I am particularly proud is that our team is young, passionate, and extremely competent, with more than 65 years of total advanced training, including masters and PhDs in STEM fields, ranging from carbon capture chemistry to energy engineering."

CDP Venture Captial technology transfer fund’s Claudia Pingue added: “For the Tech4Planet Technology Transfer Pole, it is a source of pride to have brought the idea of CarpeCarbon to the market, and also to have involved the regional co-investment fund Piemonte Next, which arises from the Region's desire to support innovation that originates in the region. CarpeCarbon's solution has the ingredients to mitigate, through innovative technologies, the effects of climate change.”

About CarpeCarbon

An inventive firm based in Italy called CarpeCarbon is developing a novel Direct Air Capture (DAC) technology that can remove significant volumes of CO2 with just renewable energy. By capturing CO2 from the air without requiring a lot of energy, CarpeCarbon's technology lowers expenses and lessens environmental effect.

Read also - Chasse sur Rhône-based Recyc’ELIT Raises €3.2M in Funding

In order to achieve net zero emissions in all future climate scenarios, removing CO2 from the atmosphere is a necessary step, not a substitute for reducing emissions or a justification for postponing the switch to clean energy.