Sirona Technologies funding news – Brussels-based Sirona Technologies Secures €6 Million in Seed Funding
Jun 26, 2024 | By Team SR
Sirona Technologies, co-founded by a former Tesla engineer, secures €6 million in seed funding to tackle the ambitious goal of removing CO2 from the air at massive scale. The round was co-led by LocalGlobe and XAnge.
SUMMARY
- Sirona Technologies, co-founded by a former Tesla engineer, secures €6 million in seed funding.
- Founded in 2023 and led by a former Tesla engineer, Sirona Technologies is a climate tech startup focusing on Direct Air Capture (DAC) technology to remove CO2 from the atmosphere.
The investor lineup includes: Look Up Ventures, Satgana, VOYAGERS Climate-Tech Fund, Syndicate One and Renaud Visage. This infusion of capital will give Sirona Technologies the fuel to scale up its Direct Air Capture (DAC) technology and deploy its first pilot plant in Kenya.
Reversing climate change using Direct Air Capture
Reversing climate change using Direct Air Capture (DAC) has gone from being fringe idea that would never work to being a key part of any climate mitigation plan, and the first commercial plants are now operational.
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On top of phasing out fossil fuels to drastically reduce emissions, the role of DAC is to help remove 1 trillion tons of CO2 from the atmosphere. This is necessary to offset emissions that are too hard to avoid, and to clean up historical emissions.
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It uses machines that filter massive amounts of atmospheric air to remove the CO2, which is then injected and permanently stored in geological formations, where it turns into rock over two years. Among the multiple ways to remove CO2 from the air, DAC is considered the highest standard because it is highly scalable, permanent and verifiable.
Rapid product iteration to reduce costs and to scale faster
Now that the technology has been proven and its key role is understood, the focus is on how to reach this massive scale: fast product iterations to reduce costs faster and to scale more quickly.
Those are guiding principles learned at Tesla that now drive Sirona Technologies. In their first year alone, Sirona Technologies built three generations of prototypes to capture 1 ton of CO2 per year. And today, they are building the next generation capable of capturing 20 times that amount by July. Each iteration comes with better performance, reduced costs and increased scale.
Scaling direct air capture in Kenya with big benefits for local communities
Sirona Technologies, in partnership with local stakeholders, will deploy their machines to build their first capture plant in Kenya. The pilot plant is set to be operational by the end of the year, with a full-scale commercial plant expected by early 2026, and a target to incrementally scale to 1 million tons of CO2 captured per year by 2030. Kenya has embraced this innovative technology, positioning itself as a climate leader in Africa.
The country has already heavily invested in clean energy, achieving a 93% renewable energy grid. However, with only 2GW of peak demand compared to 3GW of capacity, there is currently excess supply. The introduction of DAC facilities will be crucial to increase energy demand, helping to reduce electricity costs for Kenyans, and benefiting local communities through sustainable development.
About Sirona Technologies
Founded in 2023 and led by a former Tesla engineer, Sirona Technologies is a climate tech startup focusing on Direct Air Capture (DAC) technology to remove CO2 from the atmosphere. The company is focused on speed, scalability, and low capex designs. Based in Brussels, Belgium, Sirona Technologies stands as a pioneer in the region's burgeoning climate tech industry.