CCUS Startup Funding 2024-2026

What are all the funding deals in the CCUS market from August 2024 to September 2026?

The table below lists every qualifying disclosed equity round in the CCUS dataset between August 2024 and September 2026. We count as pure-play CCUS companies those where more than 80% of activity is dedicated to capturing CO2, conditioning it, moving it, durably using it, or storing it to prevent atmospheric release.

The screen includes point-source capture, Direct Air Capture, CO2 conditioning, transport infrastructure, durable utilization, and storage. It excludes general decarbonization advisory, generic carbon accounting, standalone credit trading, and CO2 products primarily intended for short-lived consumption. For a wider view of the market, see our CCUS and carbon capture market report.

How active has fundraising been in the CCUS market?

As of September 2026, fundraising in the CCUS market has been steady in technological breadth but relatively sparse in transaction frequency. Over the 24 months covered by this study, the dataset contains 23 qualifying equity deals and approximately $599.25M of disclosed capital.

Those 23 financings were raised by 22 unique companies, with Mantel the only company appearing twice. That means most visible CCUS fundraising events came from different businesses rather than repeated rounds from a handful of serial fundraisers.

The CCUS market averages 0.88 qualifying deals per calendar month and approximately $23.05M of capital per month. The median month contains one deal and around $5.58M, showing how strongly large individual financings pull the monthly average upward.

Fundraising is also episodic rather than continuous. Zero-deal months are included in the averages, which is important because removing inactive months would make private-market liquidity in CCUS appear much stronger than it actually is.

For a deeper view of the companies and technologies behind this activity, see our CCUS market report covering carbon capture and storage.

How concentrated has fundraising been in the CCUS market?

As of September 2026, fundraising in the CCUS market is heavily concentrated among a small number of large financings. Over the 24 months studied, the largest deal represents 27.03% of disclosed capital and the top three deals represent 60.41%.

The concentration becomes even clearer further down the ranking. The top five deals represent 70.42% of all capital, while the top ten absorb 86.26%, leaving a relatively small funding pool for the remaining companies.

Climeworks alone contributes $162M, while Heirloom contributes $150M. Those two financings total $312M, which is approximately 52.07% of every disclosed dollar in the CCUS dataset.

This means aggregate CCUS funding should never be interpreted without checking which companies drove the total. A strong period for one or two large DAC businesses can make the entire CCUS market look substantially healthier than the underlying financing breadth suggests.

How much of the CCUS funding signal is driven by outliers?

As of September 2026, the CCUS funding signal is highly dependent on outliers. Over the 24 months studied, only two deals are strictly above $50M, yet those two transactions account for $312M, or approximately 52.07% of all disclosed capital.

The two outliers are Climeworks at $162M and Heirloom at $150M. Aircapture's $50M Series A is not included in the strictly-above-$50M stress test because it sits exactly at the threshold.

Removing rounds strictly above $50M reduces market funding from approximately $599.25M to $287.25M. That is a reduction of roughly 52% while removing only two of the 23 transactions.

The median round size of $13M is therefore a better guide to a typical CCUS financing than the $26.05M average. For more context on the companies driving these outliers, see our deeper analysis of the CCUS market.

Is the CCUS market broad with many targets, or narrow with few fundable companies?

As of September 2026, the CCUS market is broad at the experimentation layer but narrow at the scale-financing layer. Over the 24 months studied, 22 unique companies raised 23 qualifying rounds, giving investors exposure to multiple capture and durable-utilization architectures.

Early-stage activity supports the view that the technological opportunity set is reasonably broad. Seed accounts for 10 deals and Series A for 9, meaning 19 of the 23 transactions fall into those two stages.

Scale capital is far less diversified. Only one Series B deal and two Growth Equity deals appear in the dataset, and those three transactions represent the majority of all classifiable late-stage capital.

The category structure reinforces this distinction. Direct Air Capture and Carbon Capture Systems together generate 17 of 23 deals, while standalone transport and conditioning companies generate none under the strict pure-play equity screen.

Is CCUS mostly an early-stage formation market or a late-stage scaling market?

As of September 2026, the CCUS market is mostly an early-stage market by deal count but a late-stage market by dollars. Over the 24 months studied, Seed and Series A account for 19 of 23 financings, or approximately 82.6% of disclosed deals.

Those early-stage rounds raise approximately $263.60M, equal to 43.99% of all disclosed capital. By contrast, Series B and Growth Equity account for $332M, or 55.40%, despite appearing in only three transactions.

Seed is particularly broad but lightly funded. It accounts for 10 deals and $54.10M, with an average round of $5.41M and a median of $4.15M.

Series A is the transition point where CCUS financing becomes materially larger. Nine Series A rounds raise $209.50M, with an $18M median and approximately $23.28M average, which suggests investors require much larger checks once technologies move toward industrial demonstration.

If you want to see which CCUS technologies are actually graduating toward larger deployments, explore our market report on carbon capture and CCUS.

Which categories attract the most investor attention in CCUS?

As of September 2026, Direct Air Capture attracts the most investor attention in the CCUS market by both capital and deal count. Over the 24 months studied, DAC produces 10 deals and $448.10M of disclosed capital.

That represents 43.48% of all qualifying deals but 74.78% of all disclosed capital. The gap shows that DAC receives both frequent financing and much larger scale-up checks than most other CCUS categories.

Carbon Capture Systems rank second with 7 deals and $99.90M, equal to 30.43% of transactions and 16.67% of capital. Point-source capture therefore has significant entrepreneurial breadth without matching DAC's scale-financing intensity.

CO2 Utilization Platforms contribute 4 deals and $36.75M, while CO2 Storage Services contribute 2 deals and $14.50M. CO2 Conditioning Systems and CO2 Transport Infrastructure record no qualifying standalone pure-play equity rounds.

Which categories attract disproportionately large checks in the CCUS market?

As of September 2026, Direct Air Capture is the only CCUS category attracting disproportionately large checks relative to its share of deals. Over the 24 months studied, its capital-share-to-deal-share ratio is 1.72x.

The average DAC round is $44.81M and the median is $15.15M. Those numbers are far above most other categories because Climeworks and Heirloom alone contribute $312M of DAC capital.

Carbon Capture Systems have a capital-to-deal ratio of 0.55x, with a $14.27M average round and $15M median. The category has many financings, but none exceed $30M in the dataset.

CO2 Utilization Platforms sit at 0.35x and Storage Services at 0.28x. This suggests private investors are exploring several downstream technologies, but large checks remain concentrated around selected atmospheric-capture businesses.

Which geographies matter most for fundraising in the CCUS market?

As of September 2026, North America and Europe overwhelmingly dominate CCUS fundraising. Over the 24 months studied, the two regions together account for 20 of 23 deals and approximately $577.25M, representing more than 96% of disclosed capital.

North America leads on breadth, with 13 deals and approximately $333.55M raised. That represents 56.52% of all qualifying transactions and 55.66% of disclosed capital.

Europe produces only 7 deals but raises approximately $243.70M, or 40.67% of all capital. Its average round of roughly $34.81M exceeds North America's $25.66M average, although that result is heavily influenced by Climeworks.

The Middle East contributes $15M through RepAir Carbon, Africa contributes $3.9M through Octavia Carbon, and Asia-Pacific contributes $3.1M through OOYOO. Latin America has no qualifying transaction in the dataset.

For more detail on where companies and financing are clustering geographically, see our CCUS market report covering the global opportunity.

Is the CCUS opportunity set broad or concentrated in one hub?

As of September 2026, the CCUS opportunity set is concentrated in two major financing hubs rather than one. Over the 24 months studied, North America and Europe together represent 86.96% of deal count and more than 96% of disclosed capital.

North America has the deepest company bench. Its 13 deals span Direct Air Capture, Carbon Capture Systems, durable utilization, and storage, giving the region broader category representation than any other geography.

Europe has fewer transactions but benefits from a mature DAC champion. Climeworks alone contributes $162M, meaning regional capital totals would look dramatically smaller without one exceptional financing.

Africa, Asia-Pacific and the Middle East are each represented by only one transaction. Their presence shows technological participation, but not yet a self-sustaining private CCUS financing ecosystem.

Is CCUS a market of small experiments or scaled financings?

As of September 2026, the CCUS market contains many small and medium experiments but is financially dominated by a few scaled financings. Over the 24 months studied, the median round is $13M while the average reaches approximately $26.05M.

Seven of the 23 deals are below $5M, and another 9 fall between $5M and under $20M. Together those two buckets contain 16 deals, or almost 70% of all qualifying transactions.

Only 4 deals fall between $20M and under $50M, while 3 rounds reach $50M or more. Those three are Aircapture at $50M, Heirloom at $150M and Climeworks at $162M.

The financing curve is therefore barbelled. Many companies raise experimental or demonstration capital at relatively modest sizes, while a very small group receives industrial-scale checks that dominate aggregate market statistics.

If you want to track which companies could move from demonstration funding into the next scale-financing tier, see our full market report on CCUS and carbon capture.

Who are the investors that appear the most in CCUS fundraising?

As of September 2026, repeat investors are relatively rare in the CCUS market. Over the 24 months studied, only five investors can be verified in more than one retained transaction, and none appears in more than two deals.

MCJ Collective appears in Mantel's 2024 financing and Heirloom's Series B. Lowercarbon Capital and Siemens Financial Services each appear in both Carbyon and Heirloom.

Shell Ventures appears in Mantel and Origen, while Extantia Capital appears in Phlair and RepAir Carbon. The repeat-investor group therefore mixes specialist climate funds, industrial strategic investors and corporate financing arms.

The limited repetition suggests no single venture franchise controls capital formation across the strict CCUS value chain. Strategic participation becomes more visible as technologies approach industrial demonstrations, where deployment expertise and commercial relationships matter alongside capital.

Investor rankings also require caution because most round announcements disclose the total financing but not each investor's individual check size. Participation counts are therefore more reliable than trying to attribute round dollars directly to individual investors.

Who is the author of this content?

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