Introduction
A startup called 44.01, backed by Sam Altman’s Apollo Projects, is developing technology to permanently store carbon dioxide (CO2) in a type of rock found under every continent. This technology could play a crucial role in limiting the worst effects of global warming.
Funding and Expansion
44.01, based in Oman, has raised a $37 million Series A round led by Equinor Ventures with Shorooq Partners in the United Arab Emirates to expand internationally. Other investors include Amazon.com Inc.’s Climate Pledge Fund and Breakthrough Energy Ventures.
How It Works
44.01’s storage process involves injecting a mixture of CO2 and water into cracks in peridotite, a naturally fractured rock. The rock sequesters CO2 through carbon mineralization, where certain minerals react with CO2 to create a solid carbonate. While peridotite is normally found deep in the Earth’s interior, deposits near the surface in Oman have allowed scientists to observe its carbon-sequestering abilities.
The startup’s technique speeds up the sequestration process by pumping carbonated water into peridotite cracks deep underground. “Rather than taking decades as it would in nature, it’s taking us single-digit months in the subsurface,” said founder and CEO Talal Hasan.
Comparison to Other Methods
Currently, two main methods exist for permanently sequestering CO2 underground:
- Carbon mineralization (used by 44.01 and Icelandic startup Carbfix)
- Storing fluid CO2 in porous rocks like saline aquifers or old oil and gas reservoirs
The latter method is more mature but requires monitoring due to potential CO2 leakage. Carbon mineralization costs more but eliminates virtually all risk of leakage.
Potential Impact
Carbon mineralization has the potential to sequester many billions of tons of CO2, which could be vital for reaching net-zero emissions by midcentury. 44.01 aims to sequester 100 tons of CO2 daily per injection borehole at commercial scale.
Conclusion
With its innovative technology and recent funding, 44.01 is well-positioned to make a significant impact in the fight against climate change. As the company expands internationally, its CO2 storage solution could play a key role in reducing global greenhouse gas emissions.
