Avnos is a Los Angles-based direct air capture company, developing a Hybrid Direct Air Capture (HDAC) technology to remove carbon. It has announced to sign a multi-year strategic and investment partnership with more than $80 million in total with its partners. The partners are ConocoPhillips, JetBlue Ventures, corporate venture capital division of JetBlue, and Shell Ventures LLC, the U.S. corporate venture capital arm of Shell plc.
Avnos made this deal to speed up commercialization. The company will use the capital to make HDAC units that are commercially ready by the end of 2025.
How is the Avnos HDAC technology different ?
Usually, carbon dioxide removal (CDR) measures capture water and CO2 for CDR. They use several tons of water per individual ton of CO2. On top, they use thermal energy which is not that efficient.
Avnos uses the equation in reverse. It captures CO2 and water for CDR. Avnos generates five to ten tons of water for every ton of CO2 extracted. Avnos’s HDAC technology utilizes the gathered water to power a unique moisture-responsive CO2 adsorbent material. This process removes the requirement for heat and thus reduces the energy usage.
CEO of Avnos, Will Kain, said, “Avnos is laser focused on delivering the most cost-effective, flexible, and scalable commercial Direct Air Capture technology in the world,”
“Adding blue-chip strategic partners such as ConocoPhillips, JetBlue Ventures, and Shell provides us with an incredible opportunity to access more resources, know-how, and global reach to meaningfully accelerate our deployment schedule. Ultimately, we will be able to remove more atmospheric carbon, faster, and at lower costs than we would have been able to on our own. This is a very exciting announcement at a very exciting time for our company.”
Avnos received awards, by the U.S. Department of Energy and the U.S. Office of Naval Research, for its CO2 capture and e-fuels production.
source : https://www.businesswire.com/news/home/20230713885165/en
