CREW Carbon - seed

Terms

Announced

30 Oct 2024

Instrument

Equity

Amount

US$5.30m

Source

prnewswire.com

Parties

Project developer

CREW Carbon

Recipient type

Technology company

Country

United States

Capital providers

Capital providers and the amount counted for each

Party	Role	Amount	Basis
Counteract	Lead investor	US$0.66m	Estimated: an even share, 1 of 8
ReGen Ventures	Investor	US$0.66m	Estimated: an even share, 1 of 8
ANIMO	Investor	US$0.66m	Estimated: an even share, 1 of 8
Connecticut Innovations	Investor	US$0.66m	Estimated: an even share, 1 of 8
Ponderosa Ventures	Investor	US$0.66m	Estimated: an even share, 1 of 8
Newlab	Investor	US$0.66m	Estimated: an even share, 1 of 8
Echo River Capital	Investor	US$0.66m	Estimated: an even share, 1 of 8
Carbon Drawdown Initiative	Investor	US$0.66m	Estimated: an even share, 1 of 8

Carbon

Pathway

Wastewater alkalinity enhancement

Project type as recorded

Wastewater treatment process intensification with permanent CO2 removal - smart-dosing of calcium carbonate to optimise pH/alkalinity, storing carbon as stable bicarbonate

Backed by offtakes from

• Frontier (coalition)
• Stripe Climate
• Google
• Shopify
• JPMorgan Chase
• McKinsey Sustainability

+6 more

• Autodesk
• H&M Group
• Workday
• Watershed
• Salesforce
• Microsoft

What happened

Counteract led an oversubscribed seed. ClimateHaven, Imagine H2O and Yale Ventures appear in third-party records but not in the company release and look like programme affiliations rather than capital.

Kumo note

Carbon removal sited inside existing wastewater treatment plants, so the host infrastructure and its alkalinity feedstock are already built and paid for. A specialist removal fund led, with a US state venture arm alongside.

Next step