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Capture6, a startup that cleans water and removes carbon, has raised $27.5 million in a combination of a Series A round and project financing, the company tells Axios.

Why it matters: Climate change is expected to exacerbate freshwater scarcity in water-constrained regions like areas of Southern California and Australia.

How it works: Capture6 uses physical and chemical processes to clean waste brine from wastewater treatment facilities and deliver the cleaned-up water to customers, like a water utility or industrial company.

The company uses the salts in the waste to capture carbon dioxide from the atmosphere, and it then stores the captured CO2 underground or in the ocean.

What's happening: Capture6 is developing a project with the Palmdale Water District, which it says will save the California utility up to 40% in costs and eliminate the need for up to 100 acres of water treatment brine ponds.

Capture6 broke ground on that project last June and has other projects in development in Australia, New Zealand and South Korea. 

The company has also sold 1,000 tons of carbon removal credits to Frontier. 

Several newer carbon removal startups are looking to pair processes like clean energy generation, hydrogen production or water treatment with carbon removal.

Zoom in: The round was led by private equity firm Tetrad Corporation, which was created by Walter Scott Jr., a billionaire businessman and friend of Warren Buffett.

Participating investors included Hyundai Motor Group's ZER01NE Ventures, Energy Capital Ventures, Elemental Impact, Bridge Investment, Sopoong Ventures, Third Derivative, Stan and Jane Rodbell, and the Jacob S Shapiro Foundation.

Capture6 CEO Ethan Cohen-Cole says the funding would be spent on developing its projects and advancing its second-generation technology.

The company is also raising more financing for specific projects, says Cohen-Cole.

What's next: Cohen-Cole says its projects in Southern California and Australia will be operational later this year. 

Exclusive: Capture6 raises $27.5M to develop water and carbon projects

The company is building a project for the Palmdale Water District

A project in Palmdale, Calif. for the Palmdale Water District cleans water and removes carbon

A project in Palmdale, Calif., for the Palmdale Water District cleans water and removes carbon. Photo: Courtesy of Capture6.

Capture6, a startup that cleans water and removes carbon, has raised $27.5 million in a combination of a Series A round and project financing, the company tells Axios.Why it matters: Climate change is expected to exacerbate freshwater scarcity in water-constrained regions like areas of Southern California and Australia.

Exclusive: Capture6 raises $27.5M to develop water and carbon projects

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