Holy Grail Raises $ 2.7 Million Seed Fund to Create Modular Carbon Capture Devices – TechCrunch

The founder of Holy Grail, a two-year-old startup based in Cupertino, Calif., Takes a micro-approach to solving the oversized problem of carbon capture.

The startup is in the process of prototyping a small modular direct air carbon capture device. This is a break with dozens of American and international projects aimed at recovering CO2 from large centralized sources such as power plants and industrial facilities. Holy Grail co-founder Nuno Pereira told TechCrunch that this approach will cut costs and eliminate the need for permits and project funding.

Holy Grail has a long development and testing phase, but the idea has captured the attention and capital of well-known Silicon Valley investors and founders. Holy Grail recently raised $ 2.7 million in seed funding from Lower Carbon Capital, Goat Capital, Stripe founders Patrick Collison, Charlie Songhurst, Cruise co-founder Kyle Vogt, Songkick co-founders Ian Hogarth, Starlight Ventures and 35 Ventures. Made. Existing investors Deep Science Ventures, Y Combinator and Oliver Cameron, who co-founded the Autonomous Travel Car acquired by Cruise, also participated.

According to Pereira, the carbon capture device is still in the prototype stage and many details, such as the expected size of the final product and how long it can operate, have yet to be taken into account. Separating CO2 from the air cost-effectively is a very difficult problem to solve. The company applied for a patent for this technology and refused to be too specific on many features of the device, such as the components of the device. But he pointed out that the company has a radically different technical approach to carbon capture.

“Current technology is very complex. They are basically either [using] Temperature or pressure [to capture carbon]” There is a lot to do. Compressors, calciners, and all that, ”he said. “Instead, the company uses electricity to control the chemical reactions that bind to CO2,” Pereira said. .. He also added that Holy Grail devices are scale independent to achieve cost savings. It is also modular and can be stacked and configured according to customer requirements.

As Pereira says, scrubbers focus on raw CO2 recovery, not conversion (eg, converting CO2 to fuel). Instead, Pereira explained that when the Holy Grail unit fills up, it can be collected by the company, with a serious warning that the end product has yet to be figured out, but where the carbon is reaching. Whether to do so is still an open question.

The company begins by selling carbon credits using its devices as part of a carbon reduction project. The ultimate goal is to sell the scrubber to business customers and ultimately to individual consumers. That’s right. The holy grail wants to have your own carbon capture device, maybe even in the backyard. However, the business may still have a long way to go.

“We are essentially shifting the scale factor of everything from the construction and project management of very large megaton factories to the construction of scrubbers on assembly lines like manufactured consumer goods. “

Pereira said many approaches are needed to tackle the huge problem of reducing atmospheric CO2. “The problem is too big,” he said.

Holy Grail Raises $ 2.7 Million Seed Fund to Create Modular Carbon Capture Devices – TechCrunch Source link Holy Grail Raises $ 2.7 Million Seed Fund to Create Modular Carbon Capture Devices – TechCrunch

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