Vaulted Deep Raises $32 Million to Expand Biomass Carbon Removal and Storage Capacity

Biomass carbon removal and storage (BiCRS) startup Vaulted Deep announced that it has raised $32 million in a Series A funding round, with proceeds aimed at expanding its capacity to deliver durable carbon dioxide removal (CDR) through the geologic sequestration of carbon-filled organic waste.

Spun out of injection well-focused waste management company Advantek in 2023, Vaulted Deep sequesters sludgy organic wastes, including biosolids, manure, agricultural, food waste, and paper sludge, and injects the carbon-rich biomass deep underground for permanent storage. The company’s approach starts with plants that naturally draw down CO₂ from the atmosphere via photosynthesis that ends up in the form of biomass would otherwise be incinerated, landfilled, or spread on land, which would re-release the CO2 back into the atmosphere. Vaulted Deep turns the waste into a carbon-rich slurry, and utilizes a proprietary slurry injection technology to inject the carbon deep underground, offering 10,000+ year permanence.

Among the key benefits of the company’s carbon removal approach is the potential to scale significantly, given an abundance of waste and flexible storage options, coupled with Vaulted Deep’s existing, permitted well infrastructure and expertise in deep well waste injection technology from Advantek.

Julia Reichelstein, Co-Founder and CEO of Vaulted Deep, said:

“Rapid scalable deliveries are essential to helping the CDR industry grow in a sustainable and impactful way. By leveraging our legacy assets and expertise, our vision has always been to lead the charge on speed and scale. With this next round of funding, Vaulted will supercharge on both fronts by developing new wells for more CDR removal —and delivering more tonnes, faster, to meet rising industry demand.”

Since launching last year, Vaulted Deep said that it has already issued more than 7,000 tonnes of CDR, and the company recently signed a $58 million offtake agreement with carbon removal buyer coalition Frontier to permanently remove 152,480 tonnes of CO2 through 2027 for buyers including Stripe, Alphabet, McKinsey, H&M and JPMorgan Chase.

According to the company, the new capital will support the development of additional injection well sites, including beginning to move forward on its next U.S. facility, Monarch Fields.

Vaulted Deep Co-founder and Executive Chairman Omar Abou Sayed said:

“The magnitude and pace of Vaulted’s durable carbon removal deliveries stem from decades of experience perfecting our technology in industrial waste management. Our successful Series A accelerates our ability to open new sites across multiple geographies, including our new facility Monarch Fields, leveraging our proven technology to fill customer demand while delivering benefits beyond carbon removal to our customers and the communities we serve.”

The Series A funding round was led by Prelude Ventures, with participation from existing investors Lowercarbon Capital, Earthshot Ventures, and WovenEarth Ventures, as well as new investors Fall Line Capital and Rethink Impact.

Matt Eggers, Managing Partner at Prelude Ventures, said:

“This funding comes on the heels of Vaulted’s first full year of successful operations and will allow the company to expand carbon dioxide removal capacity, including adding new deep injection well sites in the coming years. Vaulted Deep’s rapid progress from seed funding to Series A, from concept to high-volume delivery, demonstrates the immense potential of its approach. We believe Vaulted’s technology can lead the way to durable carbon removal at a meaningful scale, and we are excited to support their mission to deliver real, lasting climate solutions.”