CarbonQuest, a company specializing in distributed carbon capture technology, has received an initial investment from Riverbend Energy Group as part of its Series A funding round. This funding will enable CarbonQuest to expand its reach to a wider range of carbon emitters and accelerate the adoption of its cost-effective and economically viable solution.
CarbonQuest was founded in 2019 with a goal of providing a compact, modular carbon capture solution for small- and medium-scale emitters across various industries. The company has made significant progress in developing its technology, which uses solid sorbents to capture CO2 from industrial sources.
The company has successfully deployed its technology in several New York City buildings, capturing CO2 from building flue exhaust before it is released into the atmosphere. The captured CO2 is then used in concrete blocks, with other potential utilization channels being explored.
In recent years, CarbonQuest has expanded its product offerings to support industrial boiler applications and natural gas emissions from distributed onsite power generation. The company is now focused on addressing new market segments, including biogenic sources of CO2, utility infrastructure, and other “hard-to-abate” facilities.
The Series A funding will enable CarbonQuest to further develop its technology and achieve its goal of providing the lowest cost per ton of CO2 captured. The company will also expand its relationships in the CO2 utilization and sequestration space to provide end-to-end emissions mitigation solutions.
Additionally, CarbonQuest will advance development of its Carbon Management Software, which provides real-time data and analytics for tracking the capture and delivery of CO2.
