ASX-listed Dotz Nano Limited has entered into a funding agreement with a US-based investment fund, raising $12 million to accelerate the development and commercialisation of the firm’s carbon capture technology.
The funding, raised through Mercer Street Global Opportunity Fund, LLC (Mercer), will aid Dotz Nano in advancing manufacturing processes for DOTZearth, its point-source carbon capture solution, the company said in a media release.
Dotz CEO Sharon Malka expressed excitement about the collaboration, stating, “We are excited to partner with Mercer in this important phase of the company’s evolution and delighted that an investment fund of its calibre has backed our technology and its potential.”
He added, “The placement provides the company with the runway needed in the near-term so that it can execute on its growth opportunities and capitalise on the technology potential.”
Jonathan Juchno of Mercer affirmed their confidence in Dotz’s innovative technologies, stating, “We have been following Dotz since late 2021 and are continually impressed by their innovative technologies.”
Juchno continued, “We are very pleased to be making this investment to support the development of DotzEarth carbon capture technology and its building of channels for future growth.”
This strategic funding agreement follows several recent milestones, including joining the Global CCS Institute, a strategic collaboration with SINTEF, a successful technology transfer from Rice University, a patent application submission, and strengthening the Board with the appointment of climate technology industry experts.
In particular, DOTZearth point-source carbon capture technology utilises plastic waste to produce a carbon-based solid sorbent with nanosized pores tailored to capture and store CO2 gases from flue gas.
Developed at Rice University and fully characterised by SINTEF, the technology represents the next generation of carbon capture solid sorbents, demonstrating several benefits over existing technologies, including energy efficiency, low cost of ownership, and longer lifetime.
Founded in 2007, Dotz Nano Limited is a nanotechnology company developing innovative climate and industrial nano-technologies.
The company’s primary focus is centred around groundbreaking carbon dioxide (CO2) management technologies leading toward a carbon-neutral future.