Mission Zero Technologies - Series A

Terms

Announced

18 Mar 2024

Instrument

Equity

Amount

US$27.7mReported as GBP 21.8m (US$27.7m per Carbon Herald and ESG Today), converted at 1.2712 USD/GBP (March 2024 average)

Source

missionzero.tech

Parties

Project developer

Mission Zero Technologies

Country

UK

Capital providers

Capital providers and the amount counted for each

Party	Role	Amount	Basis
Breakthrough Energy Ventures	Investor	US$5.54m	Estimated: an even share, 1 of 5
2150	Lead investor	US$5.54m	Estimated: an even share, 1 of 5
World Fund	Investor	US$5.54m	Estimated: an even share, 1 of 5
Fortescue	Investor	US$5.54m	Estimated: an even share, 1 of 5
Siemens Financial Services	Investor	US$5.54m	Estimated: an even share, 1 of 5

Carbon

Pathway

DAC

Backed by offtakes from

• Frontier (coalition)
• Stripe Climate

What happened

Mission Zero Technologies, the UK direct air capture developer, announced a GBP 21.8m Series A on 18 March 2024: 'a total of GBP 21.8M in Series A investment' from 2150, Breakthrough Energy Ventures, World Fund, Fortescue and Siemens Financial Services, with 2150 reported by Tech.eu as leading the round. The company states the amount in sterling only; Carbon Herald and ESG Today give US$27.7m, which is the figure recorded. The funds scale mass-deployable DAC facilities. The release describes a single close, with no first close or extension.

Kumo note

- A UK direct air capture Series A led, per trade press, by 2150, with Breakthrough Energy Ventures, World Fund, Fortescue and Siemens Financial Services. - The company announced the round in sterling; the US dollar figure shown follows the monthly average rate.

Next step