44.01, a ClimateTech startup, secured $37 million in Series A funding to advance its carbon capture technology through mineralization, with notable backing from Shorooq Partners and other investors.

Information on the Target

44.01 is a pioneering startup based in Hub71 that focuses on innovative carbon capture and storage solutions. Renowned for its advanced mineralization technology, the company is dedicated to permanently eliminating carbon dioxide (CO2) emissions by transforming them into rock. This method not only addresses the urgent need for effective climate solutions but also represents a scalable approach to combatting the impacts of climate change.

The company has recently demonstrated its technological efficacy through a pilot project in Oman, where it successfully captures and stores CO2 emissions from a natural gas facility. This initiative is a significant step toward proving the viability and effectiveness of mineralization technology in real-world applications.

Industry Overview in the Target's Specific Country

Abu Dhabi is taking bold steps to establish itself as a global hub for ClimateTech startups, particularly in the realm of carbon reduction technologies. The government's commitment to sustainability is exemplified by initiatives such as the Hub71+ Climat