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Holy Grail raises $2.7M seed fund to create modular carbon capture devices – TechCrunch

The founder of Holy Grail, a two-year-old startup based in Cupertino, California, is taking a micro-approach to solve the oversized problem of carbon capture.

The startup is prototyping a modular, small, direct air carbon capture device. This is a break from dozens of US 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 would reduce costs and eliminate the need for permits and project finance.

Holy Grail has a long development and testing phase, but the idea has attracted attention and capital from well-known investors and founders of Silicon Valley. 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. Did. Existing investors Deep Science Ventures, Y Combinator and Oliver Cameron, who co-founded the self-driving car Voyage 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 the time it may work, have not yet been considered. Separating CO2 from the air in a cost-effective manner is a very difficult problem to solve. The company has applied for a patent for this technology and refused to be too specific about many of the characteristics of the device, such as the components of the device. But he emphasized 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’s a lot to go into it. Compressors, calciners, and all of this,” he said. “The company uses electricity instead 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 the raw recovery of CO2, not the conversion (for example, 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 final product still needs to be understood, but where the carbon reaches. Whether to do it is still an open question.

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

“We are basically shifting the scaling factor from everything from the construction and project management of very large megaton plants 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 $2.7M seed fund to create modular carbon capture devices – TechCrunch Source link Holy Grail raises $2.7M seed fund to create modular carbon capture devices – TechCrunch

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