Banking & Finance  June 16, 2022

Travertine Technologies raises $3M round

BOULDER — Travertine Technologies Inc. has raised a $3 million seed-funding round “to commercialize a novel, cost-effective process to capture and permanently sequester ambient CO2 while producing sulfuric acid to enable carbon-negative critical element extraction and fertilizer production,” the company said in a news release. 

The seed round was led by Grantham Environmental Trust and Clean Energy Ventures.

“Large-scale and economical carbon dioxide removal requires the production of viable commercial products rather than relying solely on offsets,” Clean Energy Ventures co-founder Daniel Goldman said in a release. “We see immense potential in Travertine’s electrochemical process for capturing CO2, leveraging abundant mineral feedstocks, and producing sulfuric acid, among other products. Scaling this technology has the potential for massive annual gigaton reduction of CO2. We look forward to supporting the Travertine team to accelerate decarbonization of the chemicals and mining industries.”

The $3 million fundraiser “will enable Travertine to scale up its team in Boulder and to accelerate its pathway to pilot-scale implementation in 2023,” the company said.