Published by Todd Bush on March 5, 2025
Mitico announced that it has raised $4.3 million in seed funding, with proceeds to be used to pilot and scale its technology, which can capture CO2 from a wide range of industrial sources.
Established in 2022, California-based Mitico provides carbon capture, utilization, and storage services to industrial point source customers. The company has implemented a system originally developed at the California Institute of Technology, utilizing granulated metal carbonate sorption technology to capture CO2 directly from gasses emitted by power plants, boilers, waste-to-energy, and biomass-to-energy facilities. According to Mitico, this system captures 95% of CO2, using less energy and at a lower cost than other methods.
>> In Other News: Carbon Removal Alliance Unveils Ambitious Policy Roadmap to Scale Carbon Dioxide Removal in the U.S.
Mitico said that it has secured two paid pilot testing projects scheduled for 2025 deployment, with the new capital to be used to accelerate piloting of the technology and commercial scaling.
Clément Cid, CEO of Mitico, said:
“This funding marks a critical milestone in our mission to make industrial carbon capture not just possible, but economically viable at commercial scale. Our integrated sorbent technology represents a significant leap forward in reducing carbon emissions. It provides carbon capture with a technology that removes risks and lowers costs for industrial customers.”
The funding round was led by Exergon, an energy decarbonization fund managed by Audacia, with participation by other financial and industrial investors, including Gore Ventures (W. L. Gore & Associates), AP Ventures, Halliburton Labs, SOSV, Freeflow Ventures, SoCal Alliance for Innovation, and Deepbright Ventures (Hello Tomorrow). Mitico said that the funding round was significantly oversubscribed.
Vincent Brillault, Managing Partner at Exergon, said:
“Capturing CO2 at the source of emission is essential for short-term decarbonization in hard-to-abate industries, such as gas-based power generation. We surveyed many breakthrough decarbonization technologies before selecting Mitico. Their solution caught our eyes for its scalability, its relative simplicity, as well as the dynamism and entrepreneurial spirit of its team. We’re excited to support their groundbreaking work and contribute to the decarbonization of industrial emitters globally.”
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🏆 XPRIZE Makes History, Awards $100m Prize for Groundbreaking Carbon Removal Solutions USA - English USA 🌍 Vaulted Deep Wins $8M in XPRIZE Carbon Removal Competition 🧱 PHNX Mater...
Inside This Issue 🌲 Living Carbon Announces Agreement with Microsoft for 1.4 Million Tonnes of Carbon Removal from Reforestation of Former Mine Lands in Appalachia 🏭 US Energy Expands Carbon Captu...
Inside This Issue 🧬 Occidental's Bold Bet on Carbon Removal: What the Holocene Acquisition Really Means 🌊 Project to Suck Carbon Out of Sea Begins in UK 🧱 NovoMOF Raises $5.4 Million to Scale Up L...
Mitsui O.S.K. Lines Becomes First Shipping Company to Remove CO₂ with Climeworks
Key take-aways: Climeworks will remove 13,400 tons of CO₂ for Mitsui O.S.K. Lines (MOL) through its Direct Air Capture technology. The agreement marks two important firsts for Climeworks: our...
United Invests in Next Generation Blended Wing Aircraft Start-Up JetZero
Collaboration includes a path for United to purchase up to 200 airplanesJetZero's Z4 blended wing body or "all wing" design has the potential to enhance passenger experience and improve fuel effici...
ClimeFi Initiates Rating Coverage on Deep Sky
ClimeFi has initiated rating coverage on Deep Sky – the world's first technology-agnostic project developer for direct air capture (DAC) Deep Sky Alpha represents the highest rated DAC project in C...
Optimus Technologies Launches Vector System for International S13 Platform
Optimus Debuts Low-Carbon S13 International Truck at ACT Expo PITTSBURGH, April 22, 2025 /PRNewswire/ -- As the demand for fleet decarbonization continues to intensify, Optimus Technologies today ...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.