Raw: [
Carbon capture technology firm CarbonQuest announced that it has raised $20 million in a funding […]]
CarbonQuest Raises $20 Million to Capture CO2 from Buildings – ESG Today
ESG Investing, sustainable finance & business sustainability news
ESG investing news, analysis, research and information
Top Stories ESG News
Companies
Government
Investors
Regulators
Sustainable Finance
ESG Solutions ESG Tools, Services
Companies Companies
Investors Investors
ESG Disclosure ESG Reporting
Analysis
Regulators
Reports, Studies
Newsfeed
Resources
Events
About About us
Our Team
Advertise With Us
Environment/ Private Equity & Venture Capital
CarbonQuest Raises $20 Million to Capture CO2 from Buildings
ESG Today Writing Staff
March 3, 2025
Carbon capture technology firm CarbonQuest announced that it has raised $20 million in a funding round, with proceeds aimed at advancing and expanding its low-cost solution to capture CO2 from buildings and power generation systems.
Founded in 2019, Spokane, Wa-based CarbonQuest has developed a modular point-source system to capture CO2 before it is emitted from natural gas sources in buildings and industrial sites such as CHP systems, fuel cells, and boilers. The system converts the captured carbon into liquified CO2, which can then be transported to local businesses to use in production processes for products including building materials, jet fuel, or chemicals.
CarbonQuest said it has already deployed its system at six sites, and sees demand growing as its solution is smaller and more versatile than others. CarbonQuest’s deployments include several New York City residential buildings, capturing natural gas emissions from boiler systems, for use by a local off-taker for permanent sequestration in concrete blocks.
The company aims for its system to be the least expensive to use in terms of cost per ton of carbon removed. The company said that the new capital will help it address additional markets that rely on onsite power or re-use CO2 onsite.
Shane Johnson, CEO of CarbonQuest, said:
“This investment will accelerate our scaling efforts, allow us to hire more talent, and support the development of a diverse base of projects. We also value the expertise of our investors in the key sectors where we enable decarbonization.”
The round was led by Riverbend Energy Group, which initially invested in August 2024, adding funding from two institutional investors, including Energy Capital Ventures (ECV) and Aligned Climate Capital. The investors said they identified CarbonQuest as a key enabler of the energy transition and distributed carbon capture as an under-invested segment of the CCUS space.
Peter Davidson, CEO of Aligned Climate Capital, said:
“Commercial and industrial facilities across the country urgently need cost-effective carbon capture solutions. CarbonQuest’s proven technology is already serving these customers, and our investment will help the company scale further, faster.”
Joe Passanante, Managing Director at Riverbend, added:
“We are excited to welcome Aligned Climate Capital and Energy Capital Ventures into the round. Together, we see an amazing future for CarbonQuest and its ability to accelerate growth.”
ESG Today Writing Staff
Related Posts
Environment /
Watershed Launches RFP to Add 1 Million Tons of Carbon Removal to its Portfolio
Private Equity & Venture Capital /
Blackstone Raises $5.6 Billion for Energy Transition-focused Private Equity Fund
Environment /
Goldman Sachs Launches SDG-focused Biodiversity Bond Fund
‹ Watershed Launches RFP to Add 1 Million Tons of Carbon Removal to its Portfolio
ESG Today Newsletter – Subscribe
Subscribe to the ESG Today NewsletterJoin our mailing list for the latest breaking ESG investment news!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsR & DProcurement & ContractingSupply Chain & DistributionSustainabilityStrategyTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Sustainable Finance
Wells Fargo Drops Net Zero Goal
BBVA Raises Sustainable Finance Goal to More than $700 Billion by 2029
Standard Chartered Earns Nearly $1 Billion in Sustainable Finance Income
Canada Pushes Back Requirement for Banks, Insurance Companies to Report Financed Emissions by 3 Years
Government
EU Launches Strategy to Drive Demand for Clean Products, Decarbonize Industry
EU to Exempt 80% of Companies from CSRD Sustainability Reporting Requirements
EU Lawmakers Agree to New Rules Requiring Fashion Brands to Pay to Recycle Clothes
Saudi’s NEOM, DataVolt to Build $5 Billion Net Zero AI Data Center
Categories
Select Category
Companies
Energy Transition
Environment
ESG Reporting
ESG Tools, Services
Executive Moves
Governance
Government
Guest Posts
Investors
M&A
New funds & products
Platforms & Markets
Private Equity & Venture Capital
Professional bodies
Regulators
Reports, Studies
Social
Social & Governance
Sustainable Finance
Back to Top
Home
About us
Disclosure, cookies & privacy policy
© ESG Today 2025
Don’t miss the top ESG stories!Join the ESG Today daily newsletter and get all the top ESG stories, like this one.
Subscribe now below!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsProcurement & ContractingR & DStrategySupply Chain & DistributionSustainabilityTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Never miss the latest breaking ESG investment news. Get ESG Today’s newsletter today!
Subscribe Now
c