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Mitico raises $4.3M seed round to capture CO2 using ‘prehistoric chemistry’
Mitico has raised $4.3M to develop an innovative carbon capture method using enhanced potassium carbonate, aiming to reduce costs and capture over 95% of CO2 emissions. The startup plans to target industrial boilers and natural gas power plants while addressing ESG concerns as demand for sustainable solutions rises worldwide.
Key points
- Mitico raised $4.3M in seed funding led by Exergon and other investors.
- The startup utilizes a modified version of potassium carbonate for carbon capture.
- Their method captures 95% of CO2 emissions and aims for costs below $85 per metric ton.
- Initial pilots are planned at industrial sites, particularly refineries.
- Target customers include natural gas power plants, which are significant emitters in the U.S.
Why it matters
- Carbon capture technology faces challenges, capturing only 0.01% of global emissions currently.
- Mitico's solution addresses the lack of economical carbon capture options for industrial boilers.
- The increasing emphasis on Environmental, Social, and Governance (ESG) requirements aligns with Mitico's mission.
- This development is part of a broader push in 2025 IT trends toward sustainability and carbon management solutions.
Mitico's innovative approach to carbon capture represents a promising shift towards more economical and effective solutions for significant carbon emitters, aligning with global sustainability goals and technological advancements in 2025.