Octavia Carbon, a pioneering Kenyan startup specializing in Direct Air Capture (DAC) technology, has raised $3.9 million in seed funding to scale its carbon removal operations. This funding marks a significant step forward for the company, which aims to combat climate change through innovative carbon capture solutions. In addition to the equity funding, Octavia secured $1.1 million through advanced sales of carbon credits, demonstrating the increasing global demand for sustainable carbon removal methods.
Founded by Martin Freimüller and Duncan Kariuki, Octavia Carbon has established itself as the first DAC company operating in the Global South, setting a precedent for environmental innovation in the region.
Funding and Strategic Investors
The $3.9 million seed funding round was co-led by Lateral Frontiers and E4E Africa, with other key participants including Catalyst Fund, Launch Africa, Fondation Botnar, and Renew Capital. This collective investment reflects the growing confidence in Octavia Carbon’s potential to become a leader in the DAC industry.
In addition to the equity investment, the startup has already generated $1.1 million in revenue through pre-selling carbon credits, underscoring the commercial viability of its technology and its ability to generate long-term environmental and financial impact.
Leveraging Kenya’s Geology and Energy for Carbon Capture
One of the core advantages of Octavia Carbon’s operations lies in Kenya’s unique geological and energy landscape, particularly within the East African Rift Valley. The Rift Valley contains basaltic rocks that naturally react with captured carbon dioxide (CO2), converting it into stable carbonate minerals such as limestone. This geological process enables long-term carbon storage, making Kenya an ideal location for DAC operations.
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Moreover, Kenya’s vast renewable energy resources, particularly geothermal power, offer a sustainable and cost-effective source of energy for the carbon capture process. By tapping into geothermal energy, Octavia Carbon ensures that its operations remain environmentally friendly, further aligning with global efforts to reduce carbon emissions.
Martin Freimüller, co-founder and CEO of Octavia Carbon, highlighted the immense potential of Kenya’s geology and energy resources, stating, “The capacity of Kenya’s Rift Valley is enormous—large enough to hold all of humanity’s cumulative CO2 emissions.” This geological advantage positions Octavia Carbon to contribute significantly to the fight against climate change.
Scaling Operations and Future Plans
Octavia Carbon currently operates two DAC devices with a total annual capacity of 50 tonnes of CO2 capture, but the startup has ambitious plans to scale its operations. By 2025, the company aims to increase its capacity to 1,500 tonnes per year, supported by the launch of a carbon storage site in partnership with Cella Mineral Storage.
The expansion of its operations will allow Octavia Carbon to not only capture more carbon but also provide businesses and governments with the tools to offset their carbon footprints, contributing to global net-zero efforts. The startup’s growth aligns with the global DAC industry, which is on track to capture 65 million tonnes of CO2 annually by 2030, with over 130 facilities currently in development.
Key Partnerships and Market Positioning
Octavia Carbon has quickly gained a strong foothold in the carbon removal market, becoming a finalist in the Xprize Carbon Removal competition, a prestigious global contest aimed at spurring innovation in the fight against climate change. The startup’s technology and business model have also attracted major clients, including the Danish carbon removal marketplace, Klimate. Octavia offers DAC and storage carbon credits as part of its revenue model, giving businesses an avenue to invest in sustainable carbon offset solutions.
With this funding and its growing list of clients, Octavia Carbon is positioning itself as a leader in the emerging DAC industry, playing a crucial role in helping the world achieve net-zero emissions by 2050.
Conclusion: A Hub for Global Carbon Removal
Octavia Carbon’s success in securing funding and establishing strategic partnerships underscores its potential to make Kenya a global hub for cost-effective carbon removal. The startup’s innovative use of DAC technology, coupled with Kenya’s geological and renewable energy advantages, sets the stage for significant contributions to global carbon reduction efforts.
As the global community works toward achieving net-zero goals, Octavia Carbon is poised to be a key player in the fight against climate change, providing sustainable solutions that have the potential to transform carbon capture and storage practices across the world..
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