Heirloom Secures $150M Series B to Scale Direct Air Capture Technology
- Funding Milestone: Heirloom raised $150M in Series B, attracting industrial leaders from sectors like aviation, shipping, and manufacturing.
- Scaling Carbon Capture: The funds will reduce DAC costs, accelerate deployments, and support large-scale projects like the DOE-backed Project Cypress.
- Technological Edge: Heirloom’s limestone-based DAC process captures CO₂ in just three days, positioning it as a cost-effective solution for carbon removal.
Brisbane, Calif. – Heirloom, a leading U.S. Direct Air Capture (DAC) company, has raised $150 million in Series B funding to scale its cost-efficient carbon removal technology. Co-led by Future Positive and Lowercarbon Capital, the round included new investors such as Japan Airlines, Mitsubishi Corporation (Americas), Mitsui & Co., Ltd., and Siemens Financial Services.
The funding will drive technological advancements, reduce DAC costs, and support major projects, including the Department of Energy’s Project Cypress, which aims to remove 1 million tons of CO₂ annually in Louisiana.
Related Article: Heirloom Carbon Technologies Secures $475 Million for North America’s Second Direct Air Capture Facility in Louisiana
Driving Innovation
Heirloom’s proprietary technology enhances limestone’s natural ability to capture CO₂, compressing a process that takes years in nature into just three days. This accelerated method creates a low-cost pathway to scalable carbon removal.
Shashank Samala, CEO of Heirloom, explains:
“We believe DAC is all about cost, cost, and cost. Through our real-world deployments and continued technological advancements, we are demonstrating Heirloom’s trajectory to the lowest-cost DAC solution—and delivering results.”
Key Partnerships and Progress
- Project Cypress: Backed by $600M in DOE funding, the initiative will create 1,000 jobs and bring a 17,000-ton facility online by 2026.
- Major Deals: Heirloom has signed CO₂ removal agreements with Microsoft, Stripe, Meta, Shopify, JPMorgan, and others.
- First Facility: In late 2023, Heirloom began operating North America’s first commercial DAC plant in Tracy, California.
Industry Leadership
The Series B round reflects strong confidence in Heirloom’s potential to revolutionize DAC. Investors include leaders in hard-to-decarbonize industries like aviation, shipping, and manufacturing, highlighting the cross-sector appeal of scalable carbon removal solutions.
Heirloom’s rapid growth since its 2020 founding underscores its role as a global DAC leader, combining technological innovation with impactful deployment to address climate change.
Follow ESG News on LinkedIn
The ESG News Editorial Team is comprised of veteran financial journalists and sustainability analysts dedicated to providing real-time, objective reporting on global ESG regulations, climate finance, and corporate governance. Our desk monitors daily developments from the SEC, IFRS, CSRD and international regulatory bodies to ensure our 1M+ readers receive accurate, data-driven insights into the evolving sustainable investment landscape. Follow the ESG News Editorial Team for expert reporting on global sustainability standards, ESG disclosures, and climate policy. Access over 10,000 investigative reports and real-time updates.
