Kenya: Lateral Frontiers VC and E4EAfrica back carbon capture company
Octavia Carbon has announced a $3.9 million seed funding round in addition to $1.1 million in carbon financing.
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Octavia Carbon, a climate tech company that builds and deploys direct air carbon capture machines in Kenya, has announced a $3.9 million seed funding round in addition to $1.1 million in carbon financing.
The seed round was co-led by Lateral Frontiers VC and E4EAfrica, with participation from Catalyst Fund, Launch Africa Ventures, Fondation Botnar, Renew Capital, and Jochem Wieringa, an angel investor.
"This marks a pivotal moment for us as we advance our direct air capture technology here in Kenya. With this funding, we are set to launch Project Hummingbird by December this year — the first DAC+Storage facility in the Southern Hemisphere,” the company said.
"With Project Hummingbird’s launch, we are on track to to become the second DAC company globally to inject CO2 underground through our CO2 storage partner Cella and to deliver DAC+Storage carbon credits."
Octavia Carbon was co-founded by Martin Freimüller and Duncan Kariuki.
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