Amazon’s Climate Pledge Fund Invests in CarbonCapture Inc.
We are excited to announce an equity investment from Amazon’s Climate Pledge Fund. In addition, CarbonCapture and Amazon will be working together to make 100,000 tons of carbon removal credits available to businesses within the company and among the company’s suppliers, selling partners, and customers.
“We’re extremely excited to be backed by a first-class venture investor like Amazon’s Climate Pledge Fund,” said Adrian Corless, CarbonCapture’s CEO and CTO. “Further, we’re looking forward to leveraging our new relationship with Amazon to both democratize access and reduce the long-run cost of producing carbon removal credits.”
Amazon co-founded The Climate Pledge Fund in 2019, committing to reach net-zero carbon by 2040—10 years ahead of the Paris Agreement. The Climate Pledge Fund now has more than 400 signatories, including Best Buy, IBM, Microsoft, PepsiCo, Siemens, Unilever, Verizon, and Visa. Today, the fund has 23 companies and start-ups in its investment portfolio across five countries.
“Amazon's primary focus is to decarbonize our global operations through our transition to renewable energy, building with more sustainable materials and electrifying our delivery fleet, and global logistics. At the same time, we also need to seek every possible avenue to reduce carbon in the atmosphere,” said Kara Hurst, vice president of worldwide sustainability at Amazon. “Our investments in direct air capture complement our emissions reduction plans, and we are excited to support the growth and deployment of the technology."