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The Venture Codex

North Carolina Department of Commerce

301 North Wilmington Street, Raleigh, NC, 27601, United States

Overview

North Carolina Department of Commerce improve the economic well-being and quality of life for all North Carolians.

Total investments
1
Lead investments
0
Investments · 12mo
0
Active investors
0
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Investment portfolio

  • Sustaera

    Participated · Series A · Dec 2021

    Sustaera develops a low-cost direct air capture (DAC) system that relies on abundantly available natural minerals repurposed as sorbents, carbon-free energy, and modular component design to enable rapid scaling. Its sorbent regenerates at lower temperatures with renewable electricity, reducing the energy requirement that often dominates capture cost. The company says its design requires significantly less land than other CO2 removal methods and targets capture costs below $100 per ton at scale. Sustaera plans to offer commercial DAC systems starting at 10 tons per day and to multiply units to create facilities capable of capturing thousands of tons per day, with a goal of removing 500 million tons cumulatively over the next 20 years. It is building its first demonstration unit in North Carolina (planned for 2022) and is recruiting engineering, materials science, and business talent to support growth. Sustaera intends initially to sell carbon removal credits in the voluntary market and has Stripe as its first customer.

Team

No current team members are available.