Heirloom Bags $150M to Advance Direct Air Capture Technology

Heirloom, a Direct Air Capture (DAC) technology company, has raised $150 million in Series B funding to leverage limestone technology for efficient CO2 absorption, driving advancements in carbon removal with the support of renewable energy and positioning itself as a leader in climate tech solutions to combat climate change.

The funding round, co-led by Future Positive and Lowercarbon Capital, also saw participation from prominent investors, including Japan Airlines, Mitsubishi Corporation (Americas), Mitsui & Co., Siemens Financial Services, and H&M Group. These investments underline growing confidence in the potential of DAC as a cornerstone of net-zero strategies.

“We’re honored to receive this vote of confidence from new and repeat investors. We believe DAC is all about cost, cost, and cost – and that it will only scale to make a meaningful difference on climate change if it is affordable. This is precisely why people are investing in Heirloom,” said Shashank Samala, CEO of Heirloom.

Revolutionizing Carbon Removal with Limestone Technology

At the heart of Heirloom’s innovation lies its ability to enhance limestone, one of Earth’s most abundant and cost-effective minerals, to capture CO2 directly from the atmosphere. The company’s proprietary process accelerates limestone’s natural ability to absorb CO2, shrinking the timeline from years to just three days.

Once saturated, the CO2 is extracted using renewable energy-powered kilns and stored underground. This breakthrough offers a scalable, sustainable pathway for significant carbon removal.

“Through our real-world deployments and continued technological advancements, we are demonstrating not only that Heirloom has a clear trajectory to the lowest-cost DAC solution – but that we are executing that vision and delivering results,” said Shashank Samala.

The Series B funding will enable Heirloom to lower technology costs, develop new projects, and unlock infrastructure capital essential for scaling operations. The company has already established itself as a key player in the Department of Energy-backed Project Cypress, a Direct Air Capture hub in Louisiana eligible for up to $600 million in government funding.

This initiative aims to achieve a CO2 removal capacity of one million tons annually while creating nearly 1,000 jobs in the region.

North America’s First Commercial DAC Facility

In addition to its work with Project Cypress, Heirloom began operating North America’s first commercial DAC facility in Tracy, California, in 2023. The facility’s launch coincided with Heirloom securing one of Microsoft’s largest CO2 removal agreements on record.

The company has partnered with leading organizations, including Meta, Stripe, Shopify, JPMorgan, and Autodesk, signaling broad-based support for its climate-focused solutions.

The inclusion of investors from aviation, shipping, and advanced manufacturing sectors, such as Japan Airlines and Siemens Financial Services, highlights the growing demand for carbon removal across traditionally hard-to-decarbonize industries. These collaborations reflect Heirloom’s role as a strategic ally for global industries seeking to meet their sustainability targets.

Founded in 2020, Heirloom is positioning itself as a leader in DAC innovation. Its cutting-edge technology and strategic partnerships are poised to significantly contribute to achieving global climate goals. With this latest funding, Heirloom is set to expand its impact, solidifying its place at the forefront of carbon removal efforts worldwide.

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