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280 Earth closes 50M Series B funding round to fund DAC project development for CO2 reduction

May 20, 2024•about 1 year ago

Amount Raised

$50 Million

Round Type

series b

The DallesArtificial Intelligence

Investors

Alphabet, Inc.Gideon YuBuilders Vc

Description

280 Earth, Inc. has completed the construction and started operating a direct air capture facility in Oregon. The $50 million Series B funding round, led by Builders VC, will support the company's scale-up of direct air capture technology to reduce CO2 in the atmosphere.

Company Information

Company

280 Earth

Location

The Dalles, Oregon, United States

About

280 Earth was formed in 2022 to scale up and commercialize innovative direct air capture technology developed at X, The Moonshot Factory (Google X). 280 Earth’s proprietary process is unique in its cost-effective continuous flow process to capture CO2 directly from the atmosphere, low energy use, ability to utilize waste heat from a wide variety of industrial processes, and positive generation of clean water captured from the air. The company is located in Mountain View, California and The Dalles, Oregon with projects under development nationwide.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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