Carbon Vault Technologies, a San Francisco-based climate tech startup, has closed a $300 million Series C funding round to scale its direct air carbon capture technology. The company claims its modular systems can remove CO2 from the atmosphere at $150 per ton, significantly below industry averages.
The funding round was led by Breakthrough Energy Ventures and included participation from several sovereign wealth funds. Carbon Vault plans to deploy 20 new capture facilities across the western United States by 2028.
Critics question whether direct air capture can scale economically without sustained government subsidies, but supporters argue the technology is essential for meeting climate targets and that costs will decrease with manufacturing scale.
