All the fundraising deals in the CCUS market (from Q2 2025 to Q2 2026)
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In our CCUS market deck, you will find everything you need to understand the market
CCUS market startups announced 29 funding rounds and raised $543.3 million between Q2 2025 and Q2 2026.
CCUS market funding reached its highest level in Q3 2025, mainly because Climeworks raised $162 million.
CO₂ utilization platforms completed the largest number of deals, while direct air capture companies received the largest individual checks.
And if you want to better understand this new industry, you can download our pitch covering the CCUS market.
Insights
- The CCUS market raised $543.3 million across 29 deals during the last five quarters, but almost 30% of all funding came from Climeworks alone.
- Q3 2025 generated 40.6% of total CCUS market funding, even though the quarter represented only seven of the 29 recorded deals.
- CO₂ utilization platforms completed 17 deals, showing that investors increasingly support businesses that turn captured carbon into fuels, chemicals, textiles or construction materials.
- Direct air capture companies completed only four deals but raised $220.85 million, equal to 40.7% of total CCUS market funding.
- Climeworks and Aircapture received 96% of all direct air capture funding, which shows how strongly capital is concentrated around more advanced companies.
- Construction-related CCUS startups appeared repeatedly, with companies using mine waste, steel slag and captured CO₂ to produce cement or mineral materials.
- No qualifying startup funding round focused mainly on CO₂ pipelines, shipping or shared transport infrastructure during the five-quarter period.
- Only one CCUS market deal exceeded $50 million, while most startups raised smaller rounds for pilot plants, demonstrations and early commercial facilities.
- Q2 2026 funding fell 23% from Q1 2026, but the number of deals only declined from nine to six.
- After removing each quarter's largest deal, CCUS market funding becomes more stable and shows a gradual recovery after the weak Q4 2025 period.
This market map, featured in our CCUS market deck, highlights top companies and startups in the CCUS market
Summary table of the funding deals in the CCUS market (last 5 quarters)
We define the CCUS market as the set of products and services that capture CO₂, prepare it, transport it, use it or store it.
The CCUS market includes point-source capture, direct air capture, compression, transport, utilization, geological storage and related monitoring services.
The CCUS market excludes general climate consulting, standalone carbon accounting, carbon-credit trading and short-lived CO₂ uses without durable storage.
You can also read our detailed analysis to understand how funding activity in the CCUS market has evolved over the last few years.
Also, you should know that we have a dedicated page, updated weekly, with all the latest fundraising deals in the CCUS market.
| Name | What they do | Amount in $ | Quarter | Round |
|---|---|---|---|---|
| RepAir Carbon | Builds modular systems that capture CO₂ from industrial exhaust and ambient air without heat or liquid solvents. | $15.00M | Q2 2025 | Series A |
| Exterra Carbon Solutions | Uses mining waste to produce low-carbon minerals and permanently store CO₂. | $14.50M | Q2 2025 | Series A |
| LanzaTech | Converts industrial waste carbon into fuels, chemicals and materials through gas fermentation. | $40.00M | Q2 2025 | Direct offering |
| Aircapture | Builds containerized systems that capture atmospheric CO₂ directly at customer facilities. | $50.00M | Q2 2025 | Series A |
| Alt Carbon | Spreads crushed basalt on farmland to remove atmospheric CO₂ through enhanced rock weathering. | $12.00M | Q2 2025 | Series A |
| Climeworks | Builds and operates direct air capture plants connected to permanent geological CO₂ storage. | $162.00M | Q3 2025 | Growth equity |
| Equatic | Uses seawater electrolysis to remove CO₂, store carbon and produce hydrogen. | $11.60M | Q3 2025 | Series A |
| PeroCycle | Recycles carbon gases from steel production into reducing gases that steel plants can reuse. | $5.20M | Q3 2025 | Seed |
| RenewCO₂ | Uses electrocatalysis to convert captured CO₂ into chemicals, polymers and fuels. | $5.00M | Q3 2025 | Seed |
| Brineworks | Develops electrolyzers that produce hydrogen and capture atmospheric CO₂ for synthetic fuels. | $5.85M | Q3 2025 | Seed |
| DACLab | Builds modular direct air capture units for fuel production and permanent CO₂ storage. | $3.00M | Q3 2025 | Seed |
| OXCCU | Converts waste CO₂ and hydrogen directly into aviation fuel through a single catalytic process. | $28.00M | Q3 2025 | Series B |
| Vycarb | Adds alkalinity to water and measures the durable storage of CO₂ as bicarbonate. | $5.00M | Q4 2025 | Seed |
| Limenet | Produces low-carbon lime and stores CO₂ in seawater as stable bicarbonate. | $8.20M | Q4 2025 | Series A |
| Lydian | Uses captured CO₂, water and renewable electricity to produce sustainable aviation fuel. | $43.70M | Q1 2026 | Series A |
| Gigablue | Uses marine microalgae to create carbon-rich particles for long-term deep-ocean storage. | $20.00M | Q1 2026 | Series A |
| Carbonaide | Injects captured CO₂ into precast concrete to store carbon and reduce cement use. | $4.40M | Q1 2026 | Series A |
| pHathom Technologies | Captures CO₂ at coastal sites and stores it as stable dissolved carbon in seawater. | $2.90M | Q1 2026 | Seed |
| Intrinsic Foundries | Uses engineered microorganisms to convert industrial carbon emissions into chemicals and biological products. | $1.40M | Q1 2026 | Seed |
| OCOchem | Electrochemically converts captured CO₂ and water into formic acid and formate chemicals. | $2.15M | Q1 2026 | Financing |
| sequestra | Combines industrial CO₂ with alkaline waste to create stable carbonate construction materials. | $3.30M | Q1 2026 | Seed |
| Co-reactive | Combines captured CO₂ and mineral residues to manufacture low-carbon cement materials. | $7.70M | Q1 2026 | Seed |
| Cocoon Carbon | Processes steel slag into cement replacements while stabilizing carbon inside mineral products. | $15.00M | Q1 2026 | Series A |
| Rubi | Uses engineered enzymes to capture waste CO₂ and produce cellulosic materials and chemicals. | $7.50M | Q2 2026 | Venture round |
| Sora Fuel | Produces jet fuel from atmospheric CO₂, water and renewable electricity. | $14.60M | Q2 2026 | Seed |
| Rivan Industries | Combines green hydrogen and direct-air-captured CO₂ to produce synthetic natural gas. | $31.25M | Q2 2026 | Series A |
| CREW Carbon | Adds minerals to wastewater systems to improve treatment and store CO₂ as bicarbonate. | $19.00M | Q2 2026 | Series A equity |
| Reduciner | Uses high-temperature processing to convert captured industrial CO₂ into fuels and chemical feedstocks. | $4.20M | Q2 2026 | Seed |
| Carbonyx | Combines CO₂ with mining waste to produce carbon-negative mineral materials. | $0.85M | Q2 2026 | Seed |
In our CCUS market deck, we identify pain points entrepreneurs should prioritize
How has funding activity in the CCUS market changed over time?
Q3 2025 was the strongest quarter, with $220.65 million raised, but Climeworks generated almost three quarters of that amount.
Q4 2025 was the weakest quarter because only Vycarb and Limenet announced qualifying funding rounds.
CCUS market funding fell by 23% from Q1 2026 to Q2 2026, and Q2 2026 funding was 41% lower than in Q2 2025.
After removing the largest deal from each quarter, CCUS market funding looks much more stable. The underlying activity fell during late 2025 and then recovered during the first half of 2026.
| Quarter | Number of deals | Total raised ($) | Comment |
|---|---|---|---|
| Q2 2025 | 5 | $131.50M | Aircapture and LanzaTech produced most of the quarter's CCUS market funding. |
| Q3 2025 | 7 | $220.65M | Climeworks created a record quarter by raising $162 million in growth equity. |
| Q4 2025 | 2 | $13.20M | Funding slowed sharply, with only two smaller carbon-storage rounds announced. |
| Q1 2026 | 9 | $100.55M | Deal formation reached its highest level, supported by several utilization and mineralization startups. |
| Q2 2026 | 6 | $77.40M | Activity remained broad, but no CCUS market round exceeded $32 million. |
| All quarters | 29 | $543.30M | The five-quarter CCUS market dataset includes both large scale-up rounds and smaller pilot financings. |
This chart, included in our CCUS market deck, shows why CarbonCure stands out in CCUS
Which startups in the CCUS market raised the largest rounds over the last months?
These startups raised the most recently in the CCUS market:
- Climeworks raised $162 million to improve direct air capture performance and develop additional commercial carbon-removal capacity.
- Aircapture raised $50 million to expand manufacturing, finance customer installations and lower the cost of on-site direct air capture.
- Lydian raised $43.7 million to build a demonstration facility and prepare captured-carbon aviation fuel for commercial customers.
- LanzaTech raised $40 million to extend its operating runway and continue commercializing industrial carbon-recycling projects.
- Rivan Industries raised $31.25 million to build a 15-megawatt plant and open a larger manufacturing facility.
- OXCCU raised $28 million to build its OX1 demonstration plant and scale its carbon-based aviation fuel technology.
- Gigablue raised $20 million to expand ocean deployments and deliver contracted carbon-removal volumes.
- CREW Carbon raised $19 million in equity to deploy its carbon-removal systems at more wastewater treatment facilities.
- RepAir Carbon raised $15 million to expand manufacturing and demonstrate its electromechanical carbon-capture equipment at industrial sites.
- Cocoon Carbon raised $15 million to build a commercial demonstration facility and expand its steel-slag processing network.
And, yes, we do cover most of them in our our beautiful pitch about the CCUS market.
You may also want to check our ranking of the most funded startups in the CCUS market as well as our list of the most valued startups.
This chart, included in our CCUS market deck, illustrates yearly funding for CCUS startups
Is the CCUS market shifting toward smaller or bigger deals?
The average CCUS market deal was $18.73 million across the five-quarter period.
The quarterly average ranged from $6.60 million in Q4 2025 to $31.52 million in Q3 2025. The difference mainly came from a small number of large rounds.
Without the largest round from each quarter, the CCUS market would show mostly small and medium-sized financings for pilots, demonstrations and first commercial plants.
| Quarter | Number of deals | Average deal size | Deals below $2M | Deals above $50M |
|---|---|---|---|---|
| Q2 2025 | 5 | $26.30M | 0 | 0 |
| Q3 2025 | 7 | $31.52M | 0 | 1 |
| Q4 2025 | 2 | $6.60M | 0 | 0 |
| Q1 2026 | 9 | $11.17M | 1 | 0 |
| Q2 2026 | 6 | $12.90M | 1 | 0 |
| All quarters | 29 | $18.73M | 2 | 1 |
This chart, included in our CCUS market deck, compares the main business model options for carbon capture project developers
How concentrated was funding activity in the CCUS market?
Funding concentration was highest in Q3 2025, when Climeworks represented 73.4% of all CCUS market funding in the quarter. The top three rounds represented more than 78% of funding in every quarter except Q4 2025, which had only two deals.
Across all five quarters, the largest deal represented 29.8% of CCUS market funding, while the ten largest rounds represented 78.0%.
| Quarter | Number of deals | Top 1 | Top 3 | Top 10 |
|---|---|---|---|---|
| Q2 2025 | 5 | 38.0% | 79.8% | 100.0% |
| Q3 2025 | 7 | 73.4% | 91.4% | 100.0% |
| Q4 2025 | 2 | 62.1% | 100.0% | 100.0% |
| Q1 2026 | 9 | 43.5% | 78.3% | 100.0% |
| Q2 2026 | 6 | 40.4% | 83.8% | 100.0% |
| All quarters | 29 | 29.8% | 47.1% | 78.0% |
This chart, featured in our CCUS market deck, illustrates revenue distribution by customer segment in the CCUS market
Which categories in the CCUS market received the most funding?
CO₂ utilization platforms raised $228.75 million, or 42.1% of all CCUS market funding. The category also completed 17 deals because captured CO₂ can support revenue from fuels, chemicals, textiles and construction materials.
Direct air capture companies raised $220.85 million, or 40.7% of total funding. Climeworks and Aircapture supplied almost all of this capital, which shows that large checks remain highly selective.
CO₂ storage services raised $79.30 million, or 14.6% of total funding. Funding covered several storage methods, including enhanced weathering, ocean chemistry, microalgae and wastewater treatment.
| Category | Number of deals | Total raised ($) | Startups and amount |
|---|---|---|---|
| CO₂ Utilization Platforms | 17 | $228.75M | Exterra Carbon Solutions ($14.50M), LanzaTech ($40.00M), PeroCycle ($5.20M), RenewCO₂ ($5.00M), OXCCU ($28.00M), Lydian ($43.70M), Carbonaide ($4.40M), Intrinsic Foundries ($1.40M), OCOchem ($2.15M), sequestra ($3.30M), Co-reactive ($7.70M), Cocoon Carbon ($15.00M), Rubi ($7.50M), Rivan Industries ($31.25M), Sora Fuel ($14.60M), Reduciner ($4.20M) and Carbonyx ($0.85M) |
| Direct Air Capture | 4 | $220.85M | Aircapture ($50.00M), Climeworks ($162.00M), Brineworks ($5.85M) and DACLab ($3.00M) |
| CO₂ Storage Services | 7 | $79.30M | Alt Carbon ($12.00M), Equatic ($11.60M), Vycarb ($5.00M), Limenet ($8.20M), Gigablue ($20.00M), pHathom Technologies ($2.90M) and CREW Carbon ($19.00M) |
This chart, included in our CCUS market deck, shows how carbon removal marketplace technology has evolved over time
Who are the biggest investors in the CCUS market?
Kibo Invest participated in two CCUS market deals covering Equatic and CREW Carbon, with combined round funding of $30.6 million.
AP Ventures participated in two CCUS market deals covering Rubi and CREW Carbon, with combined round funding of $26.5 million.
The remaining disclosed investors appeared in only one qualifying deal, which shows that recurring investor participation was limited during the period.
Disclaimer: this investor list may be incomplete; we focus on publicly disclosed lead and prominent recurring investors, so some frequent minority participants may be underrepresented. “Total funded” does not represent the amount personally invested by an individual investor. Instead, it refers to the aggregate amount raised across all fundraising rounds in which the investor participated.
| Investor | Number of deals | Total funded ($) | Startups |
|---|---|---|---|
| Kibo Invest | 2 | $30.60M | Equatic and CREW Carbon |
| AP Ventures | 2 | $26.50M | Rubi and CREW Carbon |
This chart, included in our CCUS market deck, shows how carbon capture deployment has driven growth in the CCUS market over time
Related blog posts
- A complete list of funding deals in the CCUS market
- The startups that have raised the most funding in the CCUS market
