It’s always exciting when a member of the .earth web domain achieves a significant business milestone for their efforts to combat climate change.
280 Earth (website 280.Earth) recently received a $50 million Series B investment, which will go towards advancing its efforts to remove C02 from their air at its groundbreaking direct air capture (DAC) facility in The Dalles, Oregon.
This innovative plant, developed through years of research by X, The Moonshot Factory (Alphabet’s innovation lab), aims to remove carbon dioxide (CO2) directly from the atmosphere to combat climate change.
According to the International Energy Agency, scaling DAC technology to capture over 980 megatons of CO2 annually by 2050 is crucial to reach net-zero emissions.
The initial phase of the DAC facility can capture up to 500 tonnes of CO2 per year from the ambient air. The captured CO2 is either sequestered underground or used in various industrial processes, including the production of synthetic fuels and carbon-negative concrete. The related water extracted from the air can be repurposed for cooling and other uses.
“Our first DAC project deploys a very energy-efficient process to capture CO2 directly from the air,” said Jacques Gagne, co-founder and Chief Technology Officer of 280 Earth, in this press release. “As a result, our net carbon benefit will be among the best in this rapidly developing industry.”
The company’s $50 million Series B investment round was led by Builders VC, with contributions from notable investors such as Gideon Yu and Alphabet, Inc. This funding will support the scaling of the technology to meet urgent CO2 reduction targets.
280 Earth’s DAC facility in Oregon represents a significant milestone in the fight against climate change, showcasing innovative technology and strong collaborative efforts to create a sustainable future.
We would like to congratulate 280 Earth on this significant development! And we look forward to seeing all their future endeavors.
Don’t forget that the .earth web domain and its registrar partners are offering special pricing for one-year registrations of standard .earth web domain names starting at under $10.00 USD – from April 19, 2024 to June 30, 2024 – in honor of Earth Day 2024.
To learn more about the .earth web domain, visit Voices.Earth. In addition, many organizations and individuals are sharing their voices about the benefits of a .earth domain in our Voices.Earth podcast series.
