EDAC Labs Secures $3 Million in Seed Funding to Advance Carbon Removal Utilizing Acid-Base Electrochemistry
Funding Round Info:
EDAC Labs, a pioneer in electrochemistry, reveals securing $3 million in initial funding to expand its distinctive carbon removal technology. The funding round was spearheaded by the Grantham Foundation for the Protection of the Environment, a forward-looking supporter of climate-centric advancements, alongside a notable group of angel investors.
About EDAC Labs:
EDAC Labs uses the electrochemical production of acid and base to decarbonize the world through conventional direct air capture, enabling carbon-negative mining, and by providing technology for other applications such as direct ocean capture, ocean alkalinity enhancement, and enhanced weathering. The electro synthesizer developed by EDAC Labs generates acid and base using only half the energy required by traditional methods. This groundbreaking technology not only offers cost-effective solutions for conventional direct air capture endeavors, operating under ambient conditions, but also presents a pioneering approach for metal mines. By simultaneously extracting valuable metals and sequestering carbon, it enables carbon-negative mining practices. Furthermore, for those involved in direct ocean capture, ocean alkalinity enhancement, and enhanced weathering, EDAC Labs provides electrochemistry solutions designed to significantly reduce project expenses.
About the Grantham Foundation for the Protection of the Environment:
The Grantham Foundation for the Protection of the Environment, and its affiliate, Grantham Environmental Trust, believe that innovation and technology are the best hope for an enduring future. The Grantham Trust and Foundation have, for over 15 years, focused almost exclusively on climate change mitigation and support over 150 grantees and 90 companies around the world.