Latest news with #44.01
Observer
4 days ago
- Business
- Observer
CEO TALK: From boardroom to bedrock: Decarbonising the planet, one rock at a time
WALAA HAMDAN MUSCAT, JUNE 1 In the escalating global battle against climate change, few figures personify purpose-driven entrepreneurship as compellingly as Talal Hasan, Founder and CEO of Omani climate-tech startup 44.01. At the heart of his venture lies a deceptively simple yet world-changing mission: to remove as much carbon dioxide (CO₂) from the atmosphere as possible—permanently, affordably, and at scale. Hasan's personal and professional transformation began not in a laboratory, but with a headline in 2018 that revealed the grim reality that Oman's seas contained the world's largest known ocean 'dead zone'—a vast, oxygen-depleted area where marine life could no longer survive. At the time, Hasan was working in venture capital at IDO Investments, backing high-growth tech and energy startups. But that sobering report shifted his trajectory entirely. 'I grew up as an environmentalist,' he recalled at a recent Startup Grind Muscat event, hosted by Walaa Hamdan. That revelation about Oman's marine life spurred deep research into climate science, eventually leading him to carbon capture—and more importantly, carbon storage, the Achilles' heel of many climate solutions. 'There was all this talk about capturing carbon, but no one was asking where to put it,' he explained. His answer? Mineralisation—a natural process that turns captured CO₂ into rock by injecting it into peridotite-rich formations, which are abundant in Oman. This process offered the promise of permanent, verifiable CO₂ removal. That idea crystallised into 44.01, named after the molecular weight of CO₂. Yet, moving from idea to implementation wasn't easy. Hasan left behind a prestigious, well-paid role in government—a 'very comfortable' position, he admitted—to found an unproven startup in a highly technical field. 'My own family thought I'd gone crazy,' he joked. 'But if you really believe in what you're doing... I just went for it.' The early days were lean and uncertain. "We didn't even know what kind of team we needed," he admitted. But he knew people were everything. Leveraging his network, he brought in a renowned carbon mineralisation scientist, a trusted colleague from IDO, and even interns from IDO programmes. Each person was chosen not just for technical skill, but for cultural fit. 'Spend time on culture,' he emphasised. 'Spend a lot of time on it.' At 44.01, team culture is intentional. They hold annual offsites, empower individuals to lead, and foster what Hasan calls a 'culture of thinking big.' As he put it, 'If you develop that culture of punching big, of being ambitious, and you get everyone in the team thinking like that, it starts to drive itself.' One of the company's first major hurdles was securing regulatory approval. 'Our first step was: Can we get the permit?' Hasan said. After months of pushing, they earned the world's first permit to mineralise CO₂ in this way—a milestone that validated their method and opened the door to commercial projects. Partnerships have been vital to scaling the vision. Early on, Hasan found himself navigating regulatory minefields, bringing six different government agencies to the same table—many of them meeting each other for the first time. 'If you can get more people to collaborate and get them in a room together, the sky's the limit,' he said. But partnerships aren't just about access or capital—they're about alignment. One potential lead investor dropped out of their Series A round for geopolitical reasons. Hasan later saw it as a blessing in disguise: 'Be picky about your investors,' he warned. 'Say no to money if the alignment isn't there. The wrong partners can pull you in the wrong direction.' That principled stance has paid off. 44.01 now boasts high-profile backers, including Sam Altman and Breakthrough Energy, the climate fund led by Bill Gates. The company has won the prestigious Earthshot Prize, along with multiple XPrize accolades—important endorsements, especially in a region more accustomed to importing rather than exporting advanced climate tech. Hasan remains clear-eyed about the stakes. 'If we can't do this in a way that's affordable, it won't scale,' he asserted. Economic viability is just as critical as environmental impact. To that end, 44.01 is now expanding into Europe, leveraging favourable regulatory frameworks and secured patents. Long term, the goal is to digitise the technology and license it globally, allowing others to deploy carbon mineralisation wherever the geology allows. As Hasan reflects on the journey from boardroom to bedrock, one message rings clear: 'Purpose comes before product.' For him, building 44.01 wasn't just about creating a business; it was about answering a personal calling to protect the planet—one mineralised tonne of CO₂ at a time.
Times of Oman
24-04-2025
- Business
- Times of Oman
Omani startup 44.01 wins $1 million XFACTOR award for innovative carbon removal solution
New York: Omani startup 44.01 was today announced as the winner of the Air category of the XPRIZE's carbon removal competition and awarded a $1 million XFACTOR prize. 44.01's project, based in Fujairah, UAE, uses Direct Air Capture technology to capture CO2 from the air, which 44.01 then mineralises, ensuring it can never escape back into the atmosphere. The four-year global XPRIZE competition challenged teams around the world to develop high-quality carbon dioxide removal solutions that are scalable to gigatonne level. More than 1,300 teams from nearly 80 countries competed. 20 finalists were selected in May 2024, with the winners announced in New York today. 44.01's project is one of the world's first in the world to capture CO2 from the atmosphere and store it durably underground. The XPRIZE Judges felt the project represents a compelling example of a safe, high-quality, scalable carbon removal solutions with potential to make a meaningful difference in the fight against climate change. Talal Hasan, Founder and CEO of 44.01, said 'The success of Project Hajar is testament to the leading role our region can play in decarbonising our atmosphere, providing new jobs and opportunities as we navigate the energy transition. Our climate needs decarbonisation solutions that can be deployed at scale, and we are working hard to scale up our technology in the Middle East and export it around the world.' 44.01 has demonstrated its mineralisation technology in Oman and the UAE and is now working to scale its technology and expand internationally. Mineralisation can be deployed on every continent and can play a significant role in helping remove CO2 from the atmosphere, decarbonise heavy industries and help countries reach their Net Zero ambitions.
Zawya
24-04-2025
- Business
- Zawya
Omani startup 44.01 wins $1mlnn XFACTOR award for innovative carbon removal solution
New York: Omani startup 44.01 was today announced as the winner of the Air category of the XPRIZE's carbon removal competition and awarded a $1 million XFACTOR prize. 44.01's project, based in Fujairah, UAE, uses Direct Air Capture technology to capture CO2 from the air, which 44.01 then mineralises, ensuring it can never escape back into the atmosphere. The four-year global XPRIZE competition challenged teams around the world to develop high-quality carbon dioxide removal solutions that are scalable to gigatonne level. More than 1,300 teams from nearly 80 countries competed. 20 finalists were selected in May 2024, with the winners announced in New York today. 44.01's project is one of the world's first in the world to capture CO2 from the atmosphere and store it durably underground. The XPRIZE Judges felt the project represents a compelling example of a safe, high-quality, scalable carbon removal solutions with potential to make a meaningful difference in the fight against climate change. Talal Hasan, Founder and CEO of 44.01, said 'The success of Project Hajar is testament to the leading role our region can play in decarbonising our atmosphere, providing new jobs and opportunities as we navigate the energy transition. Our climate needs decarbonisation solutions that can be deployed at scale, and we are working hard to scale up our technology in the Middle East and export it around the world.' 44.01 has demonstrated its mineralisation technology in Oman and the UAE and is now working to scale its technology and expand internationally. Mineralisation can be deployed on every continent and can play a significant role in helping remove CO2 from the atmosphere, decarbonise heavy industries and help countries reach their Net Zero ambitions. About 44.01 44.01 eliminates CO2 by turning it into rock. The company's pioneering technology accelerates the natural process of CO2 mineralisation to remove CO2 permanently in less than twelve months. 44.01 takes CO2 captured from the atmosphere, or from hard-to-abate industrial processes, helping decarbonise vital industries and ultimately return the atmosphere to sustainable levels of CO2. The process is safe, scalable and lasts forever. About XPRIZE XPRIZE is the recognized global leader in designing and executing large-scale competitions to solve humanity's greatest challenges. For over 30 years, our unique model has democratized innovation by incentivizing crowd-sourced innovation and scientifically viable solutions that accelerate a more equitable and abundant future. Donate, learn more, and co-architect a world of abundance with us at
Observer
23-04-2025
- Business
- Observer
Omani startup wins $1 million XFACTOR award
NEW YORK: Omani startup 44.01 was on Wednesday announced as the winner of the Air category of the XPRIZE's carbon removal competition and awarded a $1 million XFACTOR prize. 44.01's project, based in Fujairah, UAE, uses Direct Air Capture technology to capture CO₂ from the air, which 44.01 then mineralises, ensuring it can never escape back into the atmosphere. The four-year global XPRIZE competition challenged teams around the world to develop high-quality carbon dioxide removal solutions that are scalable to gigatonne level. More than 1,300 teams from nearly 80 countries competed. 20 finalists were selected in May 2024, with the winners announced in New York. 44.01's project is one of the world's first in the world to capture CO₂ from the atmosphere and store it durably underground. The XPRIZE Judges felt the project represents a compelling example of a safe, high-quality, scalable carbon removal solutions with potential to make a meaningful difference in the fight against climate change. Talal Hasan, Founder and CEO of 44.01, said 'The success of Project Hajar is testament to the leading role our region can play in decarbonising our atmosphere, providing new jobs and opportunities as we navigate the energy transition. Our climate needs decarbonisation solutions that can be deployed at scale and we are working hard to scale up our technology in the Middle East and export it around the world.' 44.01 has demonstrated its mineralisation technology in Oman and the UAE; and is now working to scale its technology and expand internationally. Mineralisation can be deployed on every continent and can play a significant role in helping remove CO₂ from the atmosphere, decarbonise heavy industries and help countries reach their Net-Zero ambitions.
Muscat Daily
23-04-2025
- Business
- Muscat Daily
Oman's 44.01 wins $1mn prize for innovative CO2 removal solution
Muscat – Omani startup 44.01 has won the Air category of the XPRIZE's carbon removal competition and awarded a US$1mn XFACTOR prize. 44.01's project based in Fujairah, UAE uses Direct Air Capture technology to capture carbon dioxide from the air, which the startup then mineralises, ensuring it can never escape back into the atmosphere. The four-year global XPRIZE competition challenged teams around the world to develop high-quality CO2 removal solutions that are scalable to gigatonne level. More than 1,300 teams from nearly 80 countries competed. Twenty finalists were selected in May 2024 and the winners announced in New York on Wednesday. 44.01's project is one of the world's first to capture CO2 from the atmosphere and store it durably underground. The XPRIZE judges said the project represents a compelling example of a safe, high-quality, scalable carbon removal solution with potential to make a meaningful difference in the fight against climate change. Talal Hasan, Founder and CEO of 44.01, said, 'The success of Project Hajar is testament to the leading role our region can play in decarbonising our atmosphere, providing new jobs and opportunities as we navigate the energy transition. Our climate needs decarbonisation solutions that can be deployed at scale, and we are working hard to scale up our technology in the Middle East and export it around the world.' Having demonstrated its mineralisation technology in Oman and the UAE, 44.01 is now working to scale its technology and expand internationally. Mineralisation can be deployed on every continent and can play a significant role in helping remove CO2 from the atmosphere, decarbonise heavy industries and help countries reach their net zero ambitions. 44.01 eliminates CO2 by turning it into rock. The company's pioneering technology accelerates the natural process of CO2 mineralisation, removing it permanently in less than 12 months. XPRIZE Foundation is a non-profit US-based organisation that designs and hosts public competitions intended to encourage technological development. Talal Hasan, Founder and CEO of 44.01
