Parallel Carbon secures $3.6M to advance hydrogen and direct air capture hardware platform
January 9, 2024
BY Aranzazu Carmona Orbezo, Parallel Carbon
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Cresta Fund Management LLC (Cresta), a Dallas-based private equity firm that invests in low-carbon molecule infrastructure and solutions, announced an investment in Lapis Carbon Solutions (Lapis) through its recently launched Cresta Sustainable Fund II (Sust. Fund II). The new co-investment is expected to accelerate the development of Lapis’ anchor projects and expand the broader pipeline of project opportunities.
TGS, a global leader in energy data and intelligence, has partnered with Equinor to advance the digitalization of carbon capture and storage (CCS) operations. Their software delivers real-time, reliable data to enable more efficient workflows and informed decision-making across the CCS lifecycle.
1PointFive, a carbon capture, utilization, and sequestration (CCUS) company, announced that Palo Alto Networks purchased 10,000 tons of carbon dioxide removal (CDR) credits over five years enabled by Direct Air Capture (DAC). The agreement demonstrates the increasing adoption of durable carbon removal technologies as a solution to address emissions.
SeaO₂, together with TU Delft, University of Twente, and NERA, has secured €1.64 million in funding from the TKI Energy and Industry program. The project aims to develop a decentralized and fully integrated process for producing sustainable aviation fuel (e-SAF) using seawater, renewable electricity, and captured CO₂.
Carbon to Sea Initiative and the Marine Environmental Observation, Prediction and Response Network (MEOPAR) announced a new memorandum of understanding to jointly fund initiatives to advance ocean-based carbon dioxide removal (oCDR) research and development in Canada. Through this new partnership, Carbon to Sea and MEOPAR will invest $4 million CAD to support projects across Canada.
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