Sopoong Ventures invested in Silicon Valley-based Capture6
Sopoong Ventures, a South Korean venture capital, announced it has invested in Silicon Valley-based startup Capture6. The funding will go toward supporting direct air capture technology as a means to achieving carbon neutrality in Korea and beyond.
Capture6 specializes in a cost-efficient direct carbon air capture technology that utilizes input sources such as seawater or water treatment sites.
The process includes capturing carbon dioxide from ambient air or point sources such as flue gas. It provides clean water resources for agricultural or commercial usage and drinking water.
The company’s approach to integrating the direct air capture system into existing industrial sites has brought down the cost of the technology from $250 to $600 per ton to under $200 per ton. Direct air capture technology is expected to play an instrumental role in achieving Korea’s target of reducing greenhouse gas emissions by 24.4% by the end of the decade.
Captured carbon can produce various carbon-negative products, said Han Sang-yeop, CEO of Sopoong Ventures, adding that the technology is among the top five climate technologies in South Korea.
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