Investible's Climate Tech Fund has led an investment in Fugu Carbon, a startup developing scalable and cost-effective carbon dioxide removal technology with ambitious goals of capturing one gigaton of CO2 annually.

Overview of the Target

Investible is pleased to announce its investment in Fugu Carbon, a pioneering company specializing in carbon dioxide removal (CDR) technology. The company is ambitiously aiming to achieve the removal of one gigaton of CO2 equivalent (CO2e) annually. The investment was facilitated through an oversubscribed Seed round, led by Investible’s Climate Tech Fund, with contributions from Counteract VC, Jelix Ventures, and Electrifi Ventures. Co-founders Luke Marshall and Mac Thompson, both former executives at Sun Cable, are driving this innovative venture from Australia.

Industry Overview in Australia

Carbon Dioxide Removal (CDR) technologies hold significant importance in the global fight against climate change. Australia's climate tech sector has been rapidly evolving, with increasing investment and focus on technologies that can efficiently capture and store carbon emissions. As the world aims to meet net-zero emissions targets, the demand for scalable CDR solutions is on the rise, making this an opportune moment for innovation in this space.

Current estimates suggest that Australia must scale its carbon capture capabilities to align with global targets, particularly under the International Energy Agency’s (IEA) Net Zero Emissions scenario. With only a ha