Carbon capture tech startup CleanO2 raises C$2.75m of seed funding

Regeneration.VC led the round.

  • Additional backers include Export Development Canada, Duke Street Investments, TIRI Group, and Local Investment YYC Cooperative
  • In conjunction with the funding, William McDonough and Twist BioSciences co-founder Bill Peck will join CleanO2’s advisory board
  • Some of CleanO2’s current customers and commercial partners include Lush Cosmetics, Volkswagen, Daimler, Radisson Blu and Canadian Tire

Calgary-based CleanO2, a carbon capture technology startup, has raised C$2.75 million in a Seed 2 financing. Regeneration.VC led the round. Additional backers included Export Development Canada, Duke Street Investments, TIRI Group and Local Investment YYC Cooperative.

In conjunction with the funding, William McDonough and Twist BioSciences co-founder Bill Peck will join CleanO2’s advisory board.

“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 and CEO Jaeson Cardiff, in a statement. “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.”

Some of CleanO2’s 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 and marketing capacity.