The round was led by 2150, with contributions from World Fund, Fortescue, Siemens Financial Services, and Breakthrough Energy Ventures. This financial injection is poised to significantly expedite the creation of a DAC solution capable of recuperating 1,000 tonnes of atmospheric CO₂ annually, which can be modularly enhanced to reach megatonne capacities by the decade's end.

In line with the urgent call by recent IPCC reports to limit global temperature increases to 1.5°C, it's crucial to not only curb new CO₂ emissions but also to remove existing atmospheric CO₂ on a large scale. Founded in 2020, Mission Zero has swiftly advanced a new DAC technology that offers versatility for any industrial application, geographical setting, and scale. The company is at the forefront of facilitating various carbon removal and utilisation strategies, aiming to provide widespread access to a novel source of sustainable, circular carbon, thereby reducing reliance on fossil fuels.

Drawing inspiration from natural biological processes that regulate CO₂ within organisms, Mission Zero employs a combination of electricity and a liquid solution to capture CO₂ from the air in its organic state. Through hyper-efficient electrochemical separation, the technology continuously renews the capture medium while concentrating CO₂ into pure gas form. Designed for quick scale-up and deployment, Mission Zero's solution is cost-effective even on a small scale, relies on proven components and established supply chains, and features a modular architecture for worldwide application. The technology boasts high energy efficiency and is adaptable to fluctuating renewable energy sources, enabling flexible adjustment of CO₂ capture rates to meet immediate demand at the point of use.

As a trailblazer in the DAC field, Mission Zero stands out for transitioning from self-funded research and development pilot projects to commercially funded operations with global clients. By the end of 2024, the company plans to have implemented three systems in diverse projects focused on CO₂ mineralisation, carbon-negative construction materials, and sustainable aviation fuel.

“We are delighted to welcome VCs and strategic investors with some of the strongest environmental credentials of any investors on the planet,” said Dr Nicholas Chadwick, CEO of Mission Zero Technologies: “Their world-leading manufacturing acumen and deep alignment with our vision will be catalytic in allowing us to scale DAC rapidly and responsibly for maximum positive climate impact.”

“Mission Zero’s novel technology unlocks mass deployable, low cost, energy efficient DAC, enabling effective carbon removal while also providing a circular CO₂ source that cities can use to make fuel, chemicals, building materials, and more. Mission Zero has gone from concept to commercial deployments in just three years and built a team with the technical talent and drive to rapidly deploy the most competitive DAC in the market. We are excited to support Mission Zero in their ambition to deliver climate impact at scale as the world needs solutions like this to meet the Paris Agreement goals,” said Christian Jolck, Co-founder and Partner at 2150.