Aramco Ventures, the venture capital arm of Saudi Aramco, has joined international hardware and energy investors in a seed funding round to back the direct air capture (DAC) technology developed by German firm Ucaneo, the companies announced on Tuesday.
Ucaneo develops modular DAC units for industrial settings that remove carbon dioxide from ambient air. The company recently conducted a pilot at its premises with a system capable of removing up to 50 tonnes of carbon dioxide per year, and it is building what is set to be Germany’s largest DAC demonstration plant, with planned commissioning in H1 2026.
Aramco Venture’s financial commitment to the project was not disclosed. In its previous seed funding round, closed in September 2024, Ucaneo raised EUR 6.75 million.
“Direct Air Capture, if achievable at a competitive cost, could play a crucial role in global decarbonisation. Ucaneo’s approach leverages novel solvents and renewable energy-driven electrochemistry and has the potential to deliver a cost-effective and highly efficient solution,” said Bruce Niven, executive managing director of Aramco Ventures.
Ucaneo’s DAC units run on electricity and use a solvent to remove carbon dioxide from ambient air at room temperature and capture it for reuse in industrial applications. They are designed to integrate with renewable energy generation technologies, making them useful for remote, renewable-powered deployments and locations where grid electricity prices are high.
Source: theenergyyear.com