That includes an infamous case last year involving none other than Chevron in Western Australia, in which the company missed its targets, and a Shell blue hydrogen project that emitted more carbon than it captured. The technology has also been criticized for not delivering the emissions reductions it promises. Carbon Clean’s latest funding round was led by Chevron, and the technology is seen as a potential lifeline for the fossil fuel industry, despite there being readily available alternatives like renewables and electric vehicles. This year, it raised a $150 million series C round, which the startup said is the largest-ever funding round for a point-source carbon capture company.Ĭarbon capture and storage is controversial in part due to the industries it serves while cement and steel makers are among the industries that all but require CCS to lower emissions, oil and gas companies have also shown great interest. U.K.-based company Carbon Clean is leading the charge to bring down costs. Yet it’s proven incredibly challenging to scale the technology, which captures carbon pollution at the source. For hard-to-abate industries like cement and steel production, it’s one of the few options that exist to help them get there. Carbon capture and storage has taken on increasing importance as companies with stubborn emissions look for new ways to meet their net zero goals.