Avnos Raises $36 Million In Funding Round Led By NextEra Energy
Summary
Avnos a Los Angeles-based company developing novel Hybrid Direct Air Capture (HDAC) technology for carbon dioxide removal announced it had closed $36 million in Series A funding. And the 20,000-square-foot facility will be fully operational in February 2024 and will employ an estimated 20 new employees.At Avnos, we believe our novel HDAC technology is the worlds best shot at reaching the much-needed gigaton scale of carbon dioxide removal. With this substantial funding, Avnos continues to expand its unparalleled roster of partners supporting our rapid acceleration.Our state-of-the-art lab underscores our mission to push the frontiers of innovation and deliver scalable and efficient carbon removal solutions. As we expand our dynamic technical team, Im proud to cultivate a collaborative environment that brings together top-notch talent, actively shaping and advancing the cutting-edge technologies driving Avnos towards impactful solutions.Avnos has demonstrated their clear leadership in the CO2 removal industry. Accelerating Avnos pace of development and scale creates a virtuous cycle: growing demand for NextEras core renewable power business, while leveraging our existing assets team, skills, infrastructure to generate new revenue and keep us on the front edge of innovation as the energy market continues to evolve.Safran is thrilled to be part of this pioneering journey, investing in a company leading the way in transformative carbon removal solutions.