Latest news with #GauravSant
Business Times
9 hours ago
- Business
- Business Times
Temasek Trust's investment vehicle leads US$11.6 million Series A funding for carbon removal startup
[SINGAPORE] A catalytic capital vehicle by Temasek Trust – the philanthropic arm of Singapore investment company Temasek – is leading a US$11.6 million Series A fundraising for Equatic, a carbon removal and green hydrogen climate-tech startup. Besides Catalytic Capital for Climate and Health (C3H), Kibo Invest – which is a Singapore-based private investment office with a focus on climate technology – is another co-lead in this fundraising round. Equatic uses seawater electrolysis to remove carbon dioxide from the atmosphere and store it in the ocean, while simultaneously producing carbon-negative hydrogen. The Series A financing will support the ongoing engineering of Equatic's first 100 kilotonne carbon dioxide removal commercial facility, alongside further commercialisation, manufacturing and technological development, indicated a media release from C3H on Tuesday (Aug 12). The technology has been validated through pilots in Los Angeles and Singapore, with strong offtake interest. Equatic has also adopted an international standard for monitoring, reporting and verifying the amount of carbon dioxide removed. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up This has been validated by two carbon removal registries – Isometric and – allowing Equatic the ability to generate carbon dioxide removal credits under both registries. Gaurav Sant, founder and chief technology officer of Equatic, said this financing will catalyse its mission to deliver cost-effective and durable carbon removal at scale. 'The Temasek Trust ecosystem has been a foundational partner to Equatic, from early-stage philanthropic backing from Temasek Foundation to catalytic investment through C3H. We are excited to accelerate our journey with partners who share our thesis that technology translation and innovation is fundamental to mitigate worsening climate change, quickly and at scale,' he added. Ryan Tan, head of C3H, said that Equatic's technology and approach exemplify the type of bold and scalable innovation that aligns with C3H's mandate. 'We are delighted to support Equatic's goal in advancing promising climate mitigation solutions that offer permanent, durable carbon removal with green hydrogen production for scalable, tangible impact and commercial benefit,' he added. The company was awarded S$1 million in catalytic funding in 2021, when it won The Liveability Challenge, a global crowdsourcing platform for sustainability solutions presented by Temasek Foundation. It then piloted its carbon removal technology in Singapore in collaboration with national water agency PUB. Equatic was named a finalist in September last year for The Earthshot Prize, a global challenge that spotlights and supports innovative solutions to repair the planet. Temasek Trust is a founding partner of the programme.
Business Times
20 hours ago
- Business
- Business Times
Temasek Trust leads US$11.6 million Series A funding for carbon removal startup
[SINGAPORE] A catalytic capital vehicle by Temasek Trust – the philanthropic arm of Singapore investment company Temasek – is leading a US$11.6 million Series A fundraising for Equatic, a carbon removal and green hydrogen climate-tech startup. Besides Catalytic Capital for Climate and Health (C3H), Kibo Invest – which is a Singapore-based private investment office with a focus on climate technology – is another co-lead in this fundraising round. Equatic uses seawater electrolysis to remove carbon dioxide from the atmosphere and store it in the ocean, while simultaneously producing carbon-negative hydrogen. The Series A financing will support the ongoing engineering of Equatic's first 100 kilotonne carbon dioxide removal commercial facility, alongside further commercialisation, manufacturing and technological development, indicated a media release from C3H on Tuesday (Aug 12). The technology has been validated through pilots in Los Angeles and Singapore, with strong offtake interest. Equatic has also adopted an international standard for monitoring, reporting and verifying the amount of carbon dioxide removed. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up This has been validated by two carbon removal registries – Isometric and – allowing Equatic the ability to generate carbon dioxide removal credits under both registries. Gaurav Sant, founder and chief technology officer of Equatic, said this financing will catalyse its mission to deliver cost-effective and durable carbon removal at scale. 'The Temasek Trust ecosystem has been a foundational partner to Equatic, from early-stage philanthropic backing from Temasek Foundation to catalytic investment through C3H. We are excited to accelerate our journey with partners who share our thesis that technology translation and innovation is fundamental to mitigate worsening climate change, quickly and at scale,' he added. Ryan Tan, head of C3H, said that Equatic's technology and approach exemplify the type of bold and scalable innovation that aligns with C3H's mandate. 'We are delighted to support Equatic's goal in advancing promising climate mitigation solutions that offer permanent, durable carbon removal with green hydrogen production for scalable, tangible impact and commercial benefit,' he added. The company was awarded S$1 million in catalytic funding in 2021, when it won The Liveability Challenge, a global crowdsourcing platform for sustainability solutions presented by Temasek Foundation. It then piloted its carbon removal technology in Singapore in collaboration with national water agency PUB. Equatic was named a finalist in September last year for The Earthshot Prize, a global challenge that spotlights and supports innovative solutions to repair the planet. Temasek Trust is a founding partner of the programme.
