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Climate Adaptation

Gates-Backed Fund Invests in Carbon Capture Startup Sustaera

The company, which completed a $10 million funding round, has secured Stripe as its first customer.

Bill Gates — Bill Gates
Photographer: Hollie Adams/Bloomberg

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December 16, 2021, 2:00 PM UTC

Sustaera Inc., a startup that sucks planet-warming carbon dioxide out of the air, raised $10 million from a Series A funding round led by climate funds backed by Bill Gates and billionaire investor Jeremy Grantham.

The company, based in North Carolina, uses a cheap and easily available alkali-based material to absorb CO₂. Unlike other carbon-capture businesses, its process doesn’t require heat from fossil fuel sources and can run entirely on renewable electricity. Payments system provider Stripe Inc. has signed on as its first customer.