14 August 2023, Baltimore EDAC Labs, a pioneer in electrochemistry, has announced a USD 3 million seed investment to expand the use of their unique carbon removal technique. Together with a distinguished group of angel investors, the Grantham Foundation for the Protection of the Environment, an early-stage investor in climate-related inventions, led the round.
The electrosynthesizer gadget from EDAC Labs uses half the energy of traditional procedures to produce acid and base. EDAC Labs offers technology for conventional direct air capture developers that is low-cost and operates at room temperature and pressure. EDAC Labs offers technology for metal mines to harvest valuable metals while storing carbon to achieve carbon-negative mining. EDAC Labs offers electrochemistry solutions to developers that reduce project costs for direct ocean collection, ocean alkalinity enhancement, and increased weathering.
By the end of 2024, the business will be able to scale up and demonstrate its technology at a daily carbon dioxide capture rate of one ton.
Along with James Lavin, CEO, Brian Toll, COO, and Chao Wang, an associate professor at Johns Hopkins University, who founded EDAC Labs, Cyril Yee, director of investments at the Grantham Foundation, has joined the board of directors of the business.
Citing Cyril Yee of Direct of Investments at the Grantham Foundation
“Many carbon removal techniques, such as direct air capture, mining, ocean alkalinity enhancement, and others, require less energy and money thanks to EDAC Labs’ fundamental technology. With the use of this platform technology, EDAC is now able to work on projects and offer technology to developers all over the world.
James Lavin, the founder and CEO of EDAC Labs, is quoted
We’re overjoyed to have the Grantham Foundation’s backing, which confirms our fundamental conviction that low-cost acid and base is a critical technology that can speed up decarbonization through air collection and modifications to vital industrial processes. We look forward to developing and distributing our acid/base electrosynthesizer technology in collaboration with the Foundation and its portfolio firms.
EDAC Labs was chosen in July for the esteemed Third Derivative First Gigaton Captured Cohort 2, which featured seven innovative climate tech businesses specializing on carbon dioxide reduction.
Through conventional direct air capture, which enables carbon-negative mining, and offering technology for various applications including direct ocean capture, ocean alkalinity augmentation, and increased weathering, EDAC Labs leverages the electrochemical synthesis of acid and base to decarbonize the earth.
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