Major milestone for Carbon Collect with development of Second-Generation MechanicalTree™

Company engaged with investors in support of growth plans

DUBLIN, Aug. 21, 2024 /PRNewswire/ -- Carbon Collect, a pioneer in Direct Air Capture (DAC) technology, has announced a significant advancement with the development of its second-generation MechanicalTree™. It is in discussion with a number of (potential) investors in support of this next stage in the company's evolution, which positions it as a clear leader in the global direct air capture market. This is a preliminary funding stage, ahead of a Series A fundraising that will take place in the coming months.

The development of the Gen-II Technology is a key milestone for the company, as it works towards a significant scaling of the technology and the business. Building on the success of its initial groundbreaking design, this next-generation system demonstrates marked advances in efficiency, scalability, and cost-effectiveness.

Pól Ó Móráin, CEO of Carbon Collect, said: " Carbon Collect has listened to the market, collaborated with world-class experts, and is now delivering a solution that is more efficient, scalable, and cost-effective than anything that has come before it. We are excited to bring this update on the launch of our second-generation MechanicalTree™ to investors. It represents a major milestone not just for Carbon Collect, but for the entire Direct Air Capture industry."

Breaking New Ground with Gen-II Technology

The second-generation MechanicalTree™ introduces several key innovations that address the challenges of scaling DAC technology for widespread commercial use:

• Enhanced Efficiency: The Gen-II system captures significantly more CO2 per unit of energy compared to its predecessor, thanks to advancements in sorbent materials and regeneration processes. This improved efficiency reduces both operating costs and the overall carbon footprint of the capture process.
• Scalability at its Core: Designed with modularity in mind, the Gen-II MechanicalTree™ can be deployed at various scales, from small clusters to large-scale carbon farms. This flexibility enables the technology to be tailored to different environments and market needs, paving the way for broader adoption by multiple customers across a range of industries worldwide.
• Cost Reduction Milestone: A critical achievement of the Gen-II system is its ability to capture CO2 at a significantly lower cost. Carbon Collect has achieved this through innovations in material science, energy recovery, and process optimization. This breakthrough brings the company closer to its target of reducing the cost of carbon capture to under $200 per ton by 2030. This is by far the most cost-effective carbon capture operation in existence.

Accelerating Towards a Sustainable Future

Continuing to work with Arizona State University, Carbon Collect's inaugural Gen-II MechanicalTree™ is set to be installed prior to the end of 2024, paving the way for the company's first commercial deployments in 2025. This development comes at a pivotal moment as the global urgency to address climate change intensifies. With international agreements and government policies increasingly focused on reducing greenhouse gas emissions, the enhanced MechanicalTree™ offers a timely and effective solution for large-scale carbon removal.

Market Impact and Future Deployments

Carbon Collect is already planning several early deployments of the Gen-II MechanicalTree™ across the United States, Europe, and other geographies. This includes its participation as an anchor technology in the Southwest Regional Direct Air Capture Hub (SEDAC), a key project selected for funding by the U.S. Department of Energy. These deployments will demonstrate the technology's robust capability at scale and lay the groundwork for its expansion into new markets.

Mike Austell, Vice President of Engineering, added, "This technology is the culmination of decades of research and development. The improvements we have made with the Gen-II MechanicalTree™ are not just incremental; they are transformative, setting a new standard for the industry."

Looking Ahead

With the Gen-II MechanicalTree™, Carbon Collect is poised to lead the DAC market into a new era of commercial viability and global impact. The company's ongoing focus on innovation, efficiency, and strategic growth ensures it will continue to play a crucial role in the fight against climate change.

For more information on the Gen-II MechanicalTree™ and upcoming deployments, visit www.carboncollect.com or contact:

Issued for Carbon Collect by Heneghan Strategic Communications

About Carbon Collect

Carbon Collect Limited is a leading innovator in Direct Air Capture technology, dedicated to developing scalable and cost-effective solutions for removing CO2 from the atmosphere. With its patented MechanicalTree™, the company is at the forefront of efforts to combat climate change and drive the transition to a sustainable, low-carbon future.

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SOURCE Carbon Collect