Carbon dioxide removal company Capture6 announced that it has secured project-level financing that will enable it to advance to Phase 2 of its Monarch project in Southern California.
This second phase of the initiative will focus on scaling Carbon6’ integrated CO2 removal and water recovery technology that converts brine into usable freshwater.
The financing was secured from RSF | Regenerative Social Finance, supported by the California Infrastructure and Economic Development Bank (iBank).
Currently in demonstration mode in Palmdale, California, Project Monarch is expected to remove approximately 25,000 tons of CO2 per year once scaled in Phase 2 and fully operational.
Developed in partnership with Palmdale Water District, this facility is also projected to enable up to 40% savings on brine disposal costs in this region, while creating job opportunities in the Antelope Valley area.
Commenting on the secured financing, Capture6 shared in a publication, “This non recourse, project-level financing reflects growing confidence in the commercial viability of climate infrastructure that delivers measurable benefits for both communities and the environment.”
The company has come up with a technology that successfully tackles atmospheric CO2 emissions while generating freshwater from brine—one of the most costly and environmentally challenging byproducts of water recycling.
Through Project Monarch, Capture6 will integrate its technology at Palmdale Water District’s existing water purification plant that generates 0.68 MGD of brine waste. Its systems will capture CO2 emissions and convert the costly-to-dispose brine material into clean water, while also producing green chemicals.
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According to Capture6, in Phase 2, Project Monarch is expected to reach a freshwater recovery volume of 400,000 m³ pa.
In a broader perspective, this project will help Southern California, a region facing severe water stress, create a new source of freshwater while also helping the state make progress towards its climate targets.
Besides Project Monarch, Capture6 is also working on a global portfolio of other CO2 removal and water recovery projects, including Project Wallaby in Western Australia and initiatives under development in South Korea, Midwest America, and the United Arab Emirates.
Read more: Capture6 Raises $27.5M In Funding For Its CDR And Clean Water Technology