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Direct Air Capture Company CarbonCapture Inc. Announces Equity Investment from Amazon’s Climate Pledge Fund

Published: 2023-09-12 13:02:00 ET

Companies to also collaborate on making 100,000 carbon removal credits available within Amazon and among its suppliers, selling partners, and customers

LOS ANGELES--(BUSINESS WIRE)-- CarbonCapture Inc. (CarbonCapture), a leading direct air capture company, announced today that it has received an equity investment from Amazon’s Climate Pledge Fund. In addition, CarbonCapture and Amazon (NASDAQ: AMZN) will be working together to make 100,000 tons of carbon removal credits available to businesses within the company and among the company’s suppliers, selling partners, and customers.

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Amazon'sClimate Pledge Fund invests in CarbonCapture Inc. (Graphic: Business Wire)

“We’re extremely excited to be backed by a first-class venture investor like Amazon’s Climate Pledge Fund,” said Adrian Corless, CarbonCapture’s CEO and CTO. “Further, we’re looking forward to leveraging our new relationship with Amazon to both democratize access and reduce the long-run cost of producing carbon removal credits.”

Amazon co-founded The Climate Pledge Fund in 2019, committing to reach net-zero carbon by 2040—10 years ahead of the Paris Agreement. The Climate Pledge Fund now has more than 400 signatories, including Best Buy, IBM, Microsoft, PepsiCo, Siemens, Unilever, Verizon, and Visa. Today, the fund has 23 companies and start-ups in its investment portfolio across five countries.

“Amazon's primary focus is to decarbonize our global operations through our transition to renewable energy, building with more sustainable materials and electrifying our delivery fleet, and global logistics. At the same time, we also need to seek every possible avenue to reduce carbon in the atmosphere,” said Kara Hurst, vice president of worldwide sustainability at Amazon. “Our investments in direct air capture complement our emissions reduction plans, and we are excited to support the growth and deployment of the technology.”

About CarbonCapture Inc.

CarbonCapture develops and deploys direct air capture (DAC) machines that can be connected in large arrays to remove massive amounts of carbon dioxide from the atmosphere. With a patented modular open systems architecture, the company’s DAC platform allows for plug-and-play upgrades, mass production, unlimited scalability, and rapid technology iterations. CarbonCapture’s systems capture atmospheric carbon dioxide for either permanent removal or for utilization in low-carbon synthetic fuels, concrete, and other industrial products. For more information, please visit CarbonCapture.com and follow @CarbonCaptureUS.

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

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media@carboncapture.com

Source: CarbonCapture Inc.

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