Oman’s Climatetech 44.01 Nets $37 Million in Series A Round
This funding will help 44.01 refine its mineralization technology, develop commercial-scale projects, and expand internationally.
Oman-based climatetech company 44.01 has completed a $37 million Series A funding round. The round was led by Equinor Ventures, with participation from Shorooq Partners in the UAE, Air Liquide Venture Capital (ALIAD), Alumni Ventures, Amazon’s Climate Pledge Fund, Climate Investment, Innovation Development Oman, Planet A Ventures, Salica Oryx Fund, Siemens Financial Services, Sumitomo Corporation, and others.
Existing investors, including Breakthrough Energy Ventures, also participated in the round.
This funding will help 44.01 refine its mineralization technology, develop commercial-scale projects, and expand internationally. The technology uses mafic and ultramafic rock formations found globally to eliminate CO2.
Founded in 2020 by Talal Hassan, Ehab Tasfai, and Karan Khimji, 44.01 has completed pilot projects in Oman and the UAE. The company won the Earthshot Prize in 2022 for the 'Fix our Climate' category, and its Project Hajar in Oman was recently named an XPRIZE Carbon Removal Top 20 Finalist.