Limenet Secures €7 Million Funding for Ocean CO2 Capture and Storage Technology
Limenet, a startup focused on CO2 capture and ocean storage technology, has secured €7 million in funding to enhance its innovative process that aims to decarbonize lime production and mitigate ocean acidification. Founded in 2022, the company operates its first industrial plant in Sicily, capable of processing over 800 tons of CO2 annually, and has received positive verification for its carbon removal method. The technology captures CO2 and converts it into bicarbonates in seawater, allowing for long-term storage exceeding 10,000 years.
Theia Market Signal Identification - AI Assisted
Limenet, a deep tech startup founded by Stefano Cappello, Giovanni Cappello, and Enrico Noseda, recently completed a €7 million funding round to advance its CO2 capture and ocean storage technology. The technology, inspired by the natural carbon cycle, aims to decarbonize lime production and combat ocean acidification.
The funding was led by Cdp Venture Capital and includes support from Fassa Bortolo. Limenet’s process involves capturing CO2 and converting it into bicarbonates in seawater, enabling long-term CO2 storage for over 10,000 years.
The startup, established in 2022 in Galbiate, has opened its first industrial plant in Augusta, Sicily, capable of processing over 800 tons of CO2 annually. Limenet has received a positive verification opinion from Rina and holds ISO 14064-2 certification for its carbon removal method. The technology involves three phases: limestone processing, CO2 reduction using seawater, and storage as calcium bicarbonate.
Comments