Octavia Carbon
Overview
Octavia Carbon is a pioneering company based in Nairobi, Kenya, specializing in direct air capture (DAC) technology to remove carbon dioxide from the atmosphere—a significant contributor to climate change. Founded in 2022 by Martin Freimüller and Duncan Kariuki, the company leverages Kenya’s geological and renewable resources for effective carbon capture and storage. As of 2024, Octavia Carbon has raised approximately $5 million in seed funding, with significant backers including Lateral Frontiers and E4E Africa.
Recent Developments
- October 2024: Octavia Carbon secured $5 million in seed funding, co-led by Lateral Frontiers and E4E Africa. This funding is aimed at scaling the company's DAC technology and launching Project Hummingbird, Africa's first DAC and storage facility, located in Kenya’s Rift Valley. This project is anticipated to have a capture capacity of 1,000 tons per year.
- October 2024: The launch of Project Hummingbird was announced, representing a significant milestone as the Global South's first DAC plant using Octavia’s DAC+Storage system. It debuts a digital monitoring mechanism to enhance project accountability.
- October 2023: Octavia Carbon announced its collaboration with Cella, a carbon mineralization company, to enhance its CO2 storage capabilities. This partnership involves permanent CO2 storage by converting it into rock using Kenya's basaltic geology.
- June 2024: Octavia Carbon entered into a strategic partnership with Tomorrow’s Air, enhancing carbon removal efforts in Kenya using 93% renewable power, primarily sourced from geothermal energy.
- April 2024: The company began capturing carbon in February 2024, using developed prototypes to test the efficiency of its DAC technology in field conditions.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2022 |
| Headquarters | Nairobi, Kenya |
| Founders | Martin Freimüller, Duncan Kariuki |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Lateral Frontiers, E4E Africa, Catalyst Fund |
| Industry | Environmental Services, Direct Air Capture |
| Number of Employees | Around 60 |
Early History
Octavia Carbon was conceived in 2022 with the vision of addressing climate change through innovative technological solutions. The startup was founded by Martin Freimüller, who moved to Kenya recognizing its unique advantages in renewable energy and geology suitable for carbon capture. Duncan Kariuki joined him, bringing local expertise and passion for sustainable engineering. Initially, the company began as a small team working rigorously on developing DAC machinery capable of capturing carbon dioxide from the atmosphere. The early days involved rigorous testing and development of prototypes in pursuit of efficiency and reliability, leading to the realization of their first in-field carbon capture initiatives by early 2024.
Company Profile and Achievements
Octavia Carbon operates within the environmental services sector, utilizing its DAC technology to filter CO2 from the atmosphere. The company is distinguished as the first in the Global South to undertake such initiatives, combining Kenya's geothermal energy and basaltic geology to create a cost-effective carbon capture and storage solution.
- Project Hummingbird: This pilot project in Kenya’s Rift Valley aims to capture and store up to 1,000 tons of CO2 annually by leveraging the region's volcanic rock formations.
- Funding Success: Since its founding, Octavia Carbon has successfully closed multiple funding rounds, securing notable investment that aids its tech enhancements and operations.
- Innovative Partnerships: Formed key collaborations with Cella for CO2 storage and Tomorrow’s Air to augment its environmental and social impact in Kenya.
- Scalable Technology: Developed prototypes capable of capturing significant CO2 volumes, positioning them to become leaders in both Kenyan and global DAC sectors.
Current Operations and Market Position
Octavia Carbon is focused on scaling its DAC technology to meet the global demand for carbon removal. The company strategically leverages Kenya’s Rift Valley for its geological advantages, capable of offering permanent carbon storage solutions. By the end of 2024, with projects like Hummingbird, Octavia Carbon aims to increase its carbon capture capacity substantially, moving closer to commercial deployment. With a robust renewable energy infrastructure, Octavia seeks to become a global hub for DAC operations, providing viable carbon credits to organizations striving for net-zero emissions.
Conclusion
Octavia Carbon is at the forefront of climate action in Kenya and the Global South, leveraging its innovative DAC technology to make significant strides in carbon removal and storage. Its strategic deployment of resources aligns with global emissions goals, offering unique insights into making climate tech feasible and affordable. As it continues to refine its technology and expand its capabilities, Octavia Carbon positions itself as a key player in the environmental services industry with potential to set cost-effective and scalable standards in carbon capture and storage.