Direct air carbon capture start-up raises $53M in Series A funding round

In California, Heirloom, a direct air capture company permanently removing CO2 from the atmosphere, has raised $53 million in a Series A funding round co-led by Carbon Direct Capital Management, Ahren Innovation Capital, and Breakthrough Energy Ventures, with The Microsoft Climate Innovation Fund as an additional participant. Alice Newcombe-Ellis of Ahren will join Heirloom’s board of directors.

By using abundant and affordable minerals, a simple, modular system, and leveraging mature technology and infrastructure, their technology has the lowest peer-reviewed, at-scale cost of any direct air capture technology on the market.

The Series A financing also includes investments from leading climate funds and entrepreneurs, including Breyer Capital, Grantham Environmental Trust, Chris Sacca’s Lowercarbon Capital, Marc Benioff’s TIME Ventures, Carbon Removal Partners, and Seven Seven Six. Over the last year, Heirloom has also received grant funding from the ARPA-e and the National Science Foundation.