Captura, a direct ocean capture, or DOC, technology company, recently raised an additional $21.5 million in an expansion of its Series A funding round. Future Planet Capital led the expanded raise that follows Captura’s initial $12 million investment from January 2023.
The company’s DOC solution captures carbon dioxide from the ocean, allowing for the removal of excess atmospheric CO2 at scale. The captured CO2 can be stored permanently or converted into lower greenhouse gas emission fuel. Captura’s additional funding will support the company’s commercialization efforts as it progresses its technology pilot program and begins designing commercial plants.
The company currently has two operational pilot plants in California and is developing a third in partnership with Equinor. The third plant, planned for installation in Norway in Fall 2024, will have a capture capacity of 1,000 tons of CO2 annually. Captura plans to move into large-scale commercial deployments following the pilot phase.
