Vaulted Deep, a US-based company specialising in biomass carbon removal and storage (BiCRS), has announced the successful closure of its Series A funding round, raising $32.3 million. The round was led by Prelude Ventures, with participation from existing backers Lowercarbon Capital, Earthshot Ventures, and WovenEarth Ventures, alongside new investors Fall Line Capital and Rethink Impact.
This funding comes as Vaulted Deep concludes its first year of operations, achieving significant milestones in the carbon dioxide removal (CDR) industry. A spin-off from Advantek Waste Management Services, the company has drawn investor attention with its ability to deliver durable CDR solutions at scale and speed.
Vaulted Deep employs an innovative process that converts waste into a carbon-rich slurry, which is then injected into deep wells for permanent geological storage. This approach offers a sustainable alternative to burning waste or leaving it to decompose, both of which contribute to environmental pollution. Additionally, the method eliminates methane emissions—a potent greenhouse gas—though these emissions reductions are not factored into the company’s credit accounting.
Leveraging Advantek’s extensive infrastructure and expertise, Vaulted Deep has rapidly scaled its operations. In its first year, the company achieved the removal of over 7,000 tonnes of CO2, setting a benchmark for the fastest and highest rate of carbon removal deliveries by a new entrant in the sector.
Earlier in 2023, Vaulted Deep secured a $58.3 million offtake agreement with Frontier, committing to permanently remove 152,480 tonnes of CO2 between 2024 and 2027. The company is currently removing over 1,500 tonnes of CO2 per month and plans to use the newly raised funds to expand its capacity, beginning with a new facility in Monarch Fields, US.
