- Funding Milestone: Heirloom raised $150M in Series B, attracting industrial leaders from sectors like aviation, shipping, and manufacturing.
- Scaling Carbon Capture: The funds will reduce DAC costs, accelerate deployments, and support large-scale projects like the DOE-backed Project Cypress.
- Technological Edge: Heirloom’s limestone-based DAC process captures CO₂ in just three days, positioning it as a cost-effective solution for carbon removal.
Brisbane, Calif. – Heirloom, a leading U.S. Direct Air Capture (DAC) company, has raised $150 million in Series B funding to scale its cost-efficient carbon removal technology. Co-led by Future Positive and Lowercarbon Capital, the round included new investors such as Japan Airlines, Mitsubishi Corporation (Americas), Mitsui & Co., Ltd., and Siemens Financial Services.
The funding will drive technological advancements, reduce DAC costs, and support major projects, including the Department of Energy’s Project Cypress, which aims to remove 1 million tons of CO₂ annually in Louisiana.
Related Article: Heirloom Carbon Technologies Secures $475 Million for North America’s Second Direct Air Capture Facility in Louisiana
Driving Innovation
Heirloom’s proprietary technology enhances limestone’s natural ability to capture CO₂, compressing a process that takes years in nature into just three days. This accelerated method creates a low-cost pathway to scalable carbon removal.
Shashank Samala, CEO of Heirloom, explains:
“We believe DAC is all about cost, cost, and cost. Through our real-world deployments and continued technological advancements, we are demonstrating Heirloom’s trajectory to the lowest-cost DAC solution—and delivering results.”
Key Partnerships and Progress
- Project Cypress: Backed by $600M in DOE funding, the initiative will create 1,000 jobs and bring a 17,000-ton facility online by 2026.
- Major Deals: Heirloom has signed CO₂ removal agreements with Microsoft, Stripe, Meta, Shopify, JPMorgan, and others.
- First Facility: In late 2023, Heirloom began operating North America’s first commercial DAC plant in Tracy, California.
Industry Leadership
The Series B round reflects strong confidence in Heirloom’s potential to revolutionize DAC. Investors include leaders in hard-to-decarbonize industries like aviation, shipping, and manufacturing, highlighting the cross-sector appeal of scalable carbon removal solutions.
Heirloom’s rapid growth since its 2020 founding underscores its role as a global DAC leader, combining technological innovation with impactful deployment to address climate change.
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