- U.S. climate tech startup Vaulted Deep has raised $32 million in venture capital funding to expand its business
- The company uses oil industry technology to flush carbon-containing waste into Wells, a process that is quick and relatively simple
What happened
U.S. climate tech startup Vaulted Deep announced on Thursday, November 14, that it has raised $32 million in venture capital. The company and its investors stated that the new funding will help Vaulted Deep scale its operations.
The company locks away carbon that contributes to global warming by burying organic waste deep underground. Vaulted Deep collects organic waste from municipal landfills and livestock manure, such as biosolids (treated human waste). The company injects this organic waste into facilities in Los Angeles and Kansas, at depths of about one mile. Using oil industry technology, Vaulted Deep pushes carbon-laden waste into wells, a process that is quick and relatively simple.
Julia Reichelstein, co-founder and CEO of Vaulted Deep, said, “We have proven that we can act quickly. We can sell the carbon removals people want, and we can also build new sites.” The company also earns revenue through waste disposal.
Also read: Climate tech startup Vaulted Deep raises funds to inject carbon waste down wells
Also read: Climate Startup Raises $32m to Bury Carbon Waste in Wells
What it’s important
As global climate change intensifies, many countries and companies have committed to achieving carbon neutrality, with carbon capture and storage (CCS) technology seen as one of the key tools to achieve this goal. In 2024, the International Energy Agency (IEA) pointed out that to reach net-zero emissions by 2050, the application of CCS technology is crucial.
From a broader industry perspective, startups like Vaulted Deep are catching up to large energy companies. These startups can offer more flexible and innovative solutions. For example, the global carbon capture market in recent years has attracted major oil companies like Shell and ExxonMobil, which are also exploring the large-scale application of this technology. However, these companies typically focus on specific geological structures or large-scale industrial applications, whereas Vaulted Deep, as a smaller company, is able to provide more targeted and innovative solutions.
Vaulted Deep’s progress provides a strong example for climate tech startups, showing that small companies can play a significant role in addressing global climate challenges. Its successful funding and technological breakthroughs not only demonstrate the contribution of emerging technologies to global climate action but also signal increasing interest and commitment from venture capitalists in clean technologies.
