Heirloom, a leading provider of Direct Air Capture (DAC) technology in the U.S., has raised $150 million in Series B funding. The round was co-led by Future Positive and Lowercarbon Capital, with participation from new industrial investors such as Japan Airlines, Mitsubishi Corporation (Americas), Mitsui & Co., Ltd., Siemens Financial Services, and MOL Switch LLC. These investors represent industries that are difficult to decarbonize, including automotive, aviation, shipping, and advanced manufacturing. The funding will help Heirloom reduce the cost of its technology, expand its projects, and secure additional infrastructure capital.
Heirloom’s Series B also saw repeat investments from notable climate and carbon removal investors such as Ahren Innovation Capital, Breakthrough Energy Ventures, Carbon Direct Capital, and MCJ Collective. CEO Shashank Samala expressed gratitude for the support, emphasizing that DAC’s scalability hinges on reducing costs. Heirloom is working towards the lowest-cost DAC solution through real-world deployments and ongoing technological advancements.
Founded in 2020, Heirloom has rapidly grown into a leader in the DAC industry. It is a key player in Project Cypress, a Department of Energy-backed DAC hub that aims to capture one million tons of CO2 annually in Louisiana, creating nearly 1,000 jobs. The company also operates North America’s first commercial DAC facility in Tracy, California, and has secured significant contracts for carbon removal with major companies including Microsoft, Stripe, Meta, Shopify, and JPMorgan.
Heirloom’s innovative technology harnesses limestone, one of the most abundant and affordable minerals, to capture CO2 from the air. The process involves extracting CO2 from natural limestone and accelerating its ability to absorb more CO2 in just three days, compared to the years it would take in nature. The captured CO2 is then extracted using renewable energy and permanently stored underground.
