In the race towards a net-zero future, ClimateTech startups are emerging as crucial players, providing innovative technologies addressing some of the world’s most pressing climate challenges. Among these trailblazers is Hub71 startup 44.01, who is making significant strides with its cutting-edge mineralization solution to eliminate Carbon Dioxide (CO2) in a safe, scalable and permanent way.
44.01, has successfully closed a $37 million Series A funding round, led by Hub71’s capital partner Shorooq Partners. The funding will enable the company to continue to develop its technology, work on commercial-scale projects, and expand its deployment internationally.
44.01: Scaling Carbon Removal for a Sustainable Future
44.01 is pioneering a revolutionary approach to carbon capture and storage (CCS) by harnessing the power of mineralisation, a natural process that transforms CO2 into rock. This innovative method offers a sustainable and scalable solution for removing CO2 from the atmosphere, effectively mitigating the adverse effects of climate change. The company’s ongoing pilot project in Oman, which successfully captures and stores CO2 emissions from a natural gas facility, stands as a testament to the effectiveness of its technology.
Shorooq Partners: Championing Climate Innovation at Hub71
The investment round was spearheaded by Shorooq Partners, a leading venture capital firm and a key capital partner within the Hub71 ecosystem. By combining innovative technology with strategic investments, Shorooq Partners and 44.01 are paving the way for a more sustainable future.
The funding round also saw participation from Equinor Ventures, Innovation Development Oman, Amazon’s Climate Pledge Fund, and Siemens Financial Services.
