Mitico Raises $4.3M for Carbon Capture Pilot Projects

Mitico, a California-based carbon capture technology company, has secured $4.3 million in funding to advance its granulated metal carbonate sorption technology, which aims to capture over 95% of CO2 emissions from industrial sources. The funding round, led by Exergon and oversubscribed, will facilitate two pilot projects scheduled for deployment in 2025, targeting gas-fired power plants and other facilities. CEO Clément Cid emphasized the technology's potential to significantly reduce carbon emissions and enhance the economic viability of industrial carbon capture. Mitico's innovative approach utilizes modified potassium carbonate pebbles, designed to capture CO2 efficiently and reduce operational costs. The company aims to enable various emitters to profitably capture carbon starting from day one, especially with relevant federal tax credits. This development comes amid challenges in the global carbon capture landscape, where existing technologies have seen minimal impact on overall emissions reduction.