- Startup: Climate Tech.
- Founding date: 2020.
- Country: Oman.
- Investors: Shorooq Partners, Equinor Ventures, Others.
Omani Startup, 44.01, has announced the closure of a $37 million Series A funding round co-led by Equinor Ventures with Shorooq Partners. Air Liquide Venture Capital, Alumni Ventures, Amazon’s Climate Pledge Fund, Climate Investment, Innovation Development Oman, Planet A Ventures, Salica Oryx Fund, Siemens Financial Services, Sumitomo Corporation participated in the round, as well as existing investors including Breakthrough Energy Ventures.
44.01 said the funding will enable it to continue to refine its technology, develop commercial-scale projects, and expand its deployment internationally after completing successful pilot projects in Oman and the UAE, and winning the Earthshot Prize in 2022 for the ‘Fix our Climate’ category.
The startup was founded in Oman in 2020 by Talal Hassan, Ehab Tasfai and Karan Khimji. Its solutions focus on reducing CO2 and global warming by turning CO2 into rocks by leveraging the huge amount of peridotite formation in Oman, which reacts with CO2 to form a solid carbonate-like limestone or marble mineral.