has received a growth equity investment from
Cascadia Capital, an investment bank serving middle-market clients globally, is pleased to announce that it acted as the exclusive financial advisor to CarbonQuest, a leading distributed carbon capture technology provider, in a significant growth capital funding round led by Riverbend Energy Group (“Riverbend”), with participation from other institutional investors. The funding will enable CarbonQuest to offer its Distributed Carbon Capture™ technology to a broader range of carbon emitters and accelerate market penetration of its cost-effective and economically viable solution.
CarbonQuest was founded in 2019 with a vision to solve decarbonization challenges for small-and medium-scale emitters across the industrial market segments and the built environment by creating a compact, modular carbon capture solution that addresses decarbonization needs in a cost-effective manner.
CarbonQuest combines trusted technologies with an innovative, expert approach to point source carbon capture for fuel cells, combined heat and power systems, and boilers across multiple applications. Through its modular technology, CarbonQuest is able to deliver an impactful yet widely accessible emission reduction solution promoting stronger and healthier communities.
This new capital from the growth capital round enables CarbonQuest to pursue its goal to deliver the lowest $/ton in the industry and address new market segments, including biogenic sources of CO2, utility infrastructure, and other “hard-to-abate” facilities. The company will expand its relationships in the CO2 utilization and sequestration space to provide end-to-end emissions mitigation solutions. CarbonQuest will also advance development of its Carbon Management Software™, which provides real-time data and analytics to track the capture of CO2 and its delivery to customers. As part of the transaction, Joe Passanante and Eric Danziger of Riverbend will join CarbonQuest’s Board of Directors.
“CarbonQuest’s innovative approach to distributed carbon capture technology is not only addressing the critical need for decarbonization in hard-to-abate sectors but also setting a new standard for economic viability in the industry. This investment will accelerate CarbonQuest’s impact across multiple market segments, and we are proud to have played a role in facilitating their growth,” said Jamie Boyd, Managing Director at Cascadia Capital.
Recent Transactions
This acquisition represents another successful transaction for Cascadia’s Energy Transition & Climate Technology group. Past transactions include:
has been acquired by
has received a $45 million investment from
and bp ventures
has been acquired by
has received a majority investment from
