Clean Energy Systems, a provider of oxy-combustion technology, has raised $15MM in a Series A funding round led by Carbon Direct Capital Management LLC. The funding will be used to accelerate the first commercial-scale deployment of CES technology in the carbon negative power project in Mendota, California.
“Our vision is to scale our carbon removal technology to gigaton scale. In the State of California, our projects mitigate pile-burning of agricultural waste and permanently sequester carbon dioxide,” said Keith Pronske, CEO of Clean Energy Systems. “Carbon Direct is a leading scientific advisor and financial sponsor to carbon technology companies, and we are delighted to welcome Carbon Direct as an investor. We admire Carbon Direct’s commitment to high-quality carbon removal standards and its science-first approach to investing. Carbon Direct’s investment is an important endorsement of our technology. We look forward to ongoing collaboration with the investment team and the senior scientists at Carbon Direct.”
“Carbon removal is essential to hit our climate goals,” said Jonathan Goldberg, founder and CEO of Carbon Direct. “CES offers cutting edge carbon removal technology that produces commercially attractive, carbon negative power and can lead to wide scale CO2 removal. The technology is ready to deploy today and Carbon Direct is excited to work with CES and its partners to scale this critical technology.”
“Waste biomass conversion with permanent CO2 storage can remove CO2 from the atmosphere affordably and with environmental benefits,” said Julio Friedmann, senior scientist at Carbon Direct. “CES’ technology can help support the State’s aggressive goal to end open-air burning of nearly all agricultural material in the San Joaquin Valley by 2025. Moving forward, it can also help California achieve its forest restoration goals by creating valuable products from low-value forest residues.”