Octavia Carbon, a pioneering cleantech startup based in Kenya, has successfully raised $5 million in a seed funding round to develop its Direct Air Capture (DAC) storage plant. This innovative company focuses on removing carbon dioxide from the atmosphere through cutting-edge technology that draws air into machines, filters out CO2, and securely stores it underground. With the increasing concern about excess atmospheric CO2 depleting the ozone layer and contributing to health and environmental issues, Octavia Carbon’s mission has never been more crucial.
Founded in 2022 by Martin Freimüller and Duncan Kariuki, Octavia Carbon has embarked on an ambitious journey to design, build, and deploy machines capable of capturing CO2 directly from the air. The captured carbon is then liquefied and injected into the porous basalt formations of the Rift Valley in Kenya, where it mineralizes into solid rock. This unique approach not only addresses carbon emissions but also utilizes local geological features for effective storage.
The recent funding round, led by Lateral Frontier and E4E Africa, alongside participation from Catalyst Fund, Launch Africa, Fondation Botnar, and Renew Capital, will enable Octavia Carbon to advance its first DAC plant phase, with operations expected to begin this year. As Freimüller notes, this funding positions Octavia as potentially the world’s second DAC company to complete the full cycle of CO2 capture and geological storage, highlighting the startup’s significant role in the global climate conversation.
Octavia Carbon sets itself apart by leveraging Kenya’s abundant geothermal energy, particularly waste heat, to significantly reduce the costs associated with DAC technology. The company claims that up to 80% of its electricity needs can be met through geothermal energy waste, enabling it to operate more sustainably and efficiently. This cost-saving strategy is crucial for scaling operations while improving profit margins.
Currently, it costs between $680 to $820 to extract a ton of CO2, but Octavia aims to reduce this figure to approximately $100 per ton. The startup is targeting an ambitious goal of capturing 1,000 tons of CO2 annually, significantly increasing its carbon removal efforts beyond the initial capacity of its Project Hummingbird. This scale-up will not only enhance its environmental impact but also position the company as a leader in the carbon capture industry.
In addition to its carbon capture initiatives, Octavia Carbon aims to become an Original Equipment Manufacturer (OEM) for DAC technology, allowing it to sell its innovative machines to project developers around the world. By generating revenue through the sale of carbon credits to companies looking to offset their emissions, Octavia Carbon is establishing itself as a vital player in the race to meet the United Nations’ global climate goals.
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