California-based Holy Grail raises USD 2.7 Million in a seed funding round on Wednesday, June 23rd 2021. This round was led by LowerCarbon Capital; Patrick Collison, Founder, Stripe; Kyle Vogt, co-Founder, Cruise; Goat Capital; Starlight Ventures; Charlie Songhurst; 35 ventures.
This round also saw the participation of Oliver Cameron, co-founder Voyage, Y Combinator and Deep Science Ventures.
The startup will continue to contribute to life science by helping to reduce carbon emission in the atmosphere, with the capital raised.
About Holy Grail
Holy Grail was initiated by David Pervan and Nuno Pereira in the year 2019, having its headquarters in Mountain View, California. The startup leverages electrons to capture CO2 from the atmosphere.
The startup is prototyping a carbon capture device that is small and customizable that aims to capture CO2 from centralized and large emitters like industrial facilities and power plants. The CEO of Holy Grail said that this approach of innovation will deduct the price and eliminate the need for project financing and permits.
“The current technologies are very complex. They are basically either [using] temperature or pressure for capturing carbon. There are a lot of things that go into it, compressors, calciners and all these things.” talking about the additional parts like cryogenic air separators, mechanical pumps and large quantities of energy and water.
Nuno mentioned that the startup will instead use electricity to manage the chemical reaction that binds carbon dioxide. He mentioned that Holy Grail’s devices do not rely on the scale to achieve cost reductions. They will also be customizable, so they can be configured according to the requirements of the customers.
The startup will initiate selling carbon credit using the devices launched, as the project for carbon reduction. The main aim of the Holy Grail is to sell the scrubbers to commercial customers and individual consumers.
“We’re essentially shifting the scaling factor from building a very large mega-ton plant and having the project management and all that stuff to building scrubbers in an assembly line, like a consumer product to be manufactured.”
Pereira said many approaches will be needed to tackle the mammoth problem of reducing the amount of CO2 in the atmosphere. “The problem is just too big,” he said.
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
