Muscat – Sharikat Mubasher: 44.01 announced raising an additional $5 million in Series A funding from Nysnø Climate Investments and Jasoor Ventures, bringing the total raised in this round to $42 million.
According to an official press release, the Series A was initially led by Equinor Ventures in July 2024, with backing from investors such as Air Liquide Venture Capital, Alumni Ventures, Amazon’s Climate Pledge Fund, and several others, including existing investors like Breakthrough Energy Ventures.
The new investment reflects growing international confidence in 44.01's CO2 mineralization technology, which aims to help countries achieve Net Zero goals. The technology uses mineralization to capture CO2 in mineral-rich rock formations found worldwide, offering a cost-effective and scalable solution to traditional carbon storage methods.
44.01 is expanding its operations, including scaling up carbon mineralization projects in the UAE in partnership with ADNOC. The company has also opened a new office in Norway as it explores international growth opportunities.
Talal Hasan, CEO of 44.01, expressed excitement about the new investment and the company's potential to make a global climate impact. The company’s innovative approach has already earned recognition, including the Earthshot Prize in 2022 and a spot as a finalist for the XPRIZE Carbon Removal Top 20.
