Captivate Technology announced as finalist in global carbon capture competition
10 November 2023
Captivate Technology was selected as a finalist in the Compact Carbon Capture Challenge. The competition, run by carbonNEXT, sought ground-breaking solutions to reduce emissions associated with the delivery and use of natural gas in Canada. Captivate Technology was one of only four finalists who presented their industry leading carbon capture solutions to a panel of experts. The success comes as Captivate Technology announces their seed-round capital raise, building on the company’s impressive progress to date. For more information on Captivate Technology and their capital raise, get in touch.
Captivate Technology is a clean-tech start-up developing an industry leading adsorbent capable of capturing carbon dioxide from a range of industrial sources. The novel technology (MUF-16) was conceived in the lab of Founder and CEO, Professor Shane Telfer at Massey University of New Zealand. Captivate was spun out of the university in January 2023 with investment from Massey Ventures, Matū Karihi, New Zealand Growth Capital Partners, and the Booster Innovation Fund. Since then, the company has gone from strength to strength on their decarbonisation mission.
In June 2023, carbonNEXT a joint program of Foresight and Carbon Management Canada launched the FortisBC Compact Carbon Capture Challenge, taking applications for small scale carbon capture solutions. FortisBC is the third largest gas utility in Canada and a global leader in decarbonisation, for example, using renewable natural gas.
Captivate Technology was one of only four global companies selected as a finalist in the competition. “We’re impressed with both the number and quality of the CCUS proposals that we’ve received through the Challenge. It is exciting and inspiring to see the number of innovative ideas and technologies being pursued to help achieve emission reduction efforts through the use of CCUS” says Michael Leyland, Manager, Innovative Initiatives, Fortis BC.
Captivate Technology were delighted to be recognised as a finalist in the challenge. “Biogas and post-combustion carbon capture is a perfect target for Captivate Technology’s carbon capture solutions. We are excited about the opportunity to make a global impact with MUF-16, a technology discovered here in Aotearoa, New Zealand" says Telfer.
Captivate Technology announces capital raise
The news of Captivate Technology’s success comes as the company announced a seed-round capital raise. The $4M round is an opportunity for investors to participate in a fast-growing, deep-tech company, recognised as an emerging global leader in carbon capture solutions.
“Our team at Captivate Technology have been hard at work scaling their innovative carbon capture solutions. It’s exciting to see our technology recognised on the world stage amongst global leaders in the carbon capture industry. Our latest capital raise will help us build on this success as we demonstrate our technology at commercial pilot scale alongside our industry partners” says Telfer.
For more information on Captivate Technology and their capital raise, contact us below.