Equinor Ventures invests in RepAir Carbon Capture
The RepAir Direct Air Capture (DAC) solution is inspired by battery and fuel cell principles, RepAir's innovative electrochemical device utilizes electricity to separate CO₂ from the air. The solution requires 70% less energy than the industry average, is easily scalable, and approximately 25% the cost of other offerings.
The series A round comes as the effects of climate change become ever more apparent and societies, along with traditional energy companies, seek alternative sources of energy, along with ways to minimize the impact of existing methods. Direct Air Capture (DAC) is a key technology in reducing emissions and is projected to need to remove several billion tons of CO2 from the atmosphere by 2050 in order to hit net zero. Such a target will require rapid scaling of the industry, which captures 0.01 MtCO2 today. However, most current solutions are not energy efficient and are designed in a way that makes them challenging and costly to scale.
RepAir Carbon Capture requires 70% less energy than the industry average because it operates at ambient temperature [i.e. no heating of solvents] and is designed to run solely on renewable energy sources. The solution is also built using multiple cell stacks, which makes it modular, easily scalable, and affordable in ways the majority of current solutions are not. RepAir’s electrochemical DAC can reduce the cost of capturing the CO2 to $70 per ton when the status quo exceeds hundreds of dollars. The current investors, with unrivaled climate tech expertise and infrastructure, provide RepAir with an additional strategic advantage.
“Direct Air Capture technologies are a trillion-dollar market opportunity by 2050; however, to unlock that potential, solutions must be energy efficient, cost-effective, and scalable,” said Amir Shiner, CEO and Co-Founder of RepAir Carbon Capture. “RepAir is the very first solution to be able to overcome those hurdles, and doing so may make it not only a leader in the space but also a key component of going green globally. This investment round, from some of the leading names driving the climate tech revolution, is a testament to our capabilities and the enormous business potential and good they can achieve.”