Muscat – Sharikat Mubasher: Oman’s Climatetech 44.01 announced closing a $37million Series A funding round, led by Equinor Ventures with Shorooq Partners in the UAE, as well as Air Liquide Venture Capital (ALIAD), Alumni Ventures, Amazon’s Climate Pledge Fund, Climate Investment, Innovation Development Oman, Planet A Ventures, Salica Oryx Fund, Siemens Financial Services, Sumitomo Corporation and several other investors.
Existing investors including Breakthrough Energy Ventures have also recommitted to 44.01’s technology by participating in the round, which will enable 44.01 to continue refining its technology, develop commercial-scale projects, and expand its deployment internationally, according to a press release.
This fundraiser shows confidence in the potential of 44.01’s mineralization technology to eliminate CO2 safely, permanently, and at scale.
The funding will enable 44.01 to continue to refine its technology, develop commercial-scale projects, and expand its deployment internationally.
Commenting on this event, Talal Hasan, Founder and CEO of 44.01, said: “We believe mineralization can play a significant role in protecting and repairing our climate. We are grateful to our investors for committing to that mission and for demonstrating their confidence in our technology. Our investors bring a wealth of international expertise and experience that will help us to accelerate our development and ultimately mineralize CO2 at scale worldwide.”
44.01 has completed successful pilot projects in Oman and the UAE. 44.01 won the Earthshot Prize in 2022 for the ‘Fix our Climate’ category and the company’s Project Hajar in Oman was recently announced as an XPRIZE Carbon Removal Top 20 Finalist.
