Aqualung Carbon Capture has announced the successful first close of its latest funding round. This funding marks a significant milestone in Aqualung’s goal of becoming a leader in carbon capture technology.
Over the past four years, the company has demonstrated its non-pressurized facilitated transport membrane solution, which is cost-effective and applicable in various sectors. These sectors include natural gas processing, lime kilns, and waste-to-energy operations.
Aqualung plans to focus on commercial upscaling in collaboration with its partners. The funding has secured a commercial-scale development and manufacturing partner. This allows Aqualung to concentrate on its thin film coating intellectual property (IP) and project development.
CEO Andrew Robbins expressed enthusiasm about the funding milestone. He noted the importance of having a large-scale membrane manufacturer as a partner. Robbins stated that establishing low-cost solutions in the industry has taken a crucial step forward.
Aqualung aims to collaborate with industrial leaders to create an economically viable carbon capture and sequestration solution across various industries. With the new funding, Aqualung is positioned to make significant strides in the carbon capture sector. The second phase of this funding round is anticipated to be completed by mid-2025.
