Avnos Raises $36M in Series A Funding

Feb 06, 2024•over 1 year ago

Amount Raised

$36 Million

Los AngelesEnvironmental ServicesEnergy

Investors

Rusheen Capital ManagementEnvisioning PartnersShell VenturesSafran Corporate VenturesNext Era Energy

Description

Avnos, a Los Angeles, CA-based company developing novel hybrid direct air capture (HDAC™) technology for carbon dioxide removal, raised $36M in Series A funding.

Company Information

Company

Avnos

Location

Los Angeles, California, United States

About

Avnos was founded in 2020 with a singular focus on developing and deploying the most resource efficient, geographically flexible, and cost-effective technology in the Direct Air Capture (DAC) market. Using a pioneering moisture-responsive CO2 adsorbent, Avnos’ novel Hybrid Direct Air Capture (HDAC™) technology produces water as it captures CO2 and eliminates the need for external heat input. Based on intellectual property from leading institutions, including Pacific Northwest National Laboratory, Avnos has been awarded multi-million-dollar projects from the U.S. Department of Energy to demonstrate its HDAC solution in the field, and from the U.S. Office of Naval Research to pilot CO2 capture and e-fuels production. The Company has previously raised seed funding from the Grantham Foundation and Thistledown Foundation.

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