decarbonfuse Icons/logo

Press Release

CleanO2 Carbon Capture Technologies Adds Luminaries William McDonough and Bill Peck to Advisory Board, Closes $2.75M CAD Seed 2 Funding Round

Published by Todd Bush on July 11, 2022

CALGARY, AB, July 11, 2022 /PRNewswire/ -- Today, CleanO2 Carbon Capture Technologies ("CleanO2") announced the addition of global sustainability leader William McDonough and Twist BioSciences Co-Founder Bill Peck to its advisory board, as well as the closing of their $2.75M CAD Seed 2 funding round, led by Regeneration.VC, an early-stage venture capital firm supercharging consumer-powered climate innovation. Additional investors include Export Development Canada ("EDC" - a Canadian Crown corporation), Duke Street Investments Inc., TIRI Group, and Local Investment YYC Cooperative.

"I am delighted to join CleanO2 as an advisor. Capturing fugitive carbon from HVAC emissions is the beginning of micro-scale carbon storage and utilization which harnesses the power of circular and regenerative principles in the circular carbon economy. I look forward to collaborating with Jaeson and the team with future product roadmaps, product formulation, and packaging and considering the various ways this carbon resource material can be transformed and become an asset and resource for human use." said William McDonough.

CleanO2 is committed to addressing fugitive carbon emissions from commercial building heating systems through patented carbon capture units ("CarbinX™"). CarbinX converts CO2 captured from natural gas heating system exhaust into stable carbonates. CleanO2 leverages the sequestered output, in the form of pearl ash, to produce "made with captured carbon" products for consumer and commercial markets including soaps, shampoos, detergents, other cleaning products, as well as fertilizers.

Bill Peck added, "CleanO2 and their Alberta team are well positioned to bring a proven commercial technology to more commercial territories and customers. I look forward to working with them on their core technology as they scale production and work to enhance carbon capture and utilization within commercial buildings"

"We are extremely excited to partner with an amazing group of investors led by Regeneration.VC to bring our Carbon Capture Technology to buildings all across the world," said CleanO2 Co-Founder & CEO, Jaeson Cardiff. "By the end of the Q3, we will have installed over 50 CarbinX units across the United States, Canada, and Japan with ambitions to triple that volume by year's end."

With a $1.6B global carbon capture utilization & storage market forecast to grow at a 17% CAGR, CleanO2 has ample opportunity to scale and further develop their technology. Some of the current customers and commercial partners include: Lush Cosmetics, Volkswagen, Daimler, Radisson Blu, Canadian Tire, Spruce Meadows and Cadillac Fairview. Utility partners include Centerpoint Energy, FortisBC, ATCO, Northwest Natural, and Tokyo Gas. The funds will further technological development, optimize manufacturing, and grow sales & marketing capacity.

CleanO2 Co-Founder and Chief Science Officer Kathi Fischer added, "With natural gas as the primary source for heating buildings, you now have the ability to install a device that reduces emissions associated with that energy source. Our CarbinX unit captures 6-8 tonnes of CO2 emissions annually (roughly the equivalent of 300 trees) and saves up to 20% in energy consumption. Our version 4.0 will launch early 2023 and will double the volume of captured carbon emissions."

"CleanO2 has carved a unique niche within the proptech climate sector and has more active microscale carbon capture units in operation today than any other company in the sector. The units are also energy efficiency devices that pay for themselves in energy savings and provide further revenue streams with value potash material streams" -Michael Smith, General Partner Regeneration.VC.

About CleanO2

CleanO2 is a carbon capture technology company that manufactures proprietary hardware to capture fugitive carbon emissions and upcycles the sequestered byproduct in cleaning products and fertilizers. CleanO2's patented technology simultaneously enables circular outcomes for carbon emissions and energy, providing a dual value proposition to commercial building customers. CleanO2 is a mission-driven company delivering solutions to the environmentally destructive HVAC industry. CleanO2 is headquartered in Calgary, Canada.

To learn more, visit https://cleano2.ca/ or https://www.carbinx.com/

About Regeneration.VC

Founded in Los Angeles, Regeneration.VC is an early-stage venture fund supercharging consumer-powered climate innovation driven by circular and regenerative principles. Our investment strategy encompasses design (materials & packaging), use (consumer brands & products), and reuse technologies (reverse logistics & marketplaces).

To learn more, visit https://www.regeneration.vc/

SOURCE Regeneration.VC

Icons/external Source

Subscribe to the newsletter

Latest issues

View all issues

Company Announcements

Daily decarbonization data and news delivered to your inbox

Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.

Subscribe illustration