ESG Today writes that California-based Avnos offers a self-developed Hybrid Direct Air Capture (HDAC) solution that works by using air, electricity and solid sorbents to capture water and CO2. Other DAC solutions use water and heat to capture polluting carbon dioxide, while Avnos' solution can generate five tons of water and remove one ton of CO2. Thus, the startup's process has a lower impact on the planet, while also reducing energy costs.
Using the 36 million USD financing round, Avnos will grow its team, as well as deploy more HDAC devices across North America and Europe. Additionally, the company looks to open a new development center in New York City.
Will Kain, CEO at Avnos, said that "we believe our novel HDAC technology is the world’s best shot at reaching the much-needed gigaton scale of carbon dioxide removal. We feel the urgency to roll out HDAC more broadly, so as to deliver on the enormous, positive climate and economic opportunities in front of us."
NextEra Energy Resources led the Series A round, which saw participation from Safran Corporate Ventures and Shell Ventures.
Photo source: Avnos