CREW Carbon, Inc. (CREW) announced it has closed an oversubscribed Series A round led by Burnt Island Ventures with participation from AP Ventures, Sony Innovation Fund, Builders Vision, Kibo Invest, Idemitsu Ventures, New York Ventures, and family office investors, alongside existing investors Counteract, ANIMO Ventures, Connecticut Innovations, Ponderosa Ventures, and Echo River Capital. The raise includes $19 million in equity and $6 million in grant and other non-dilutive funding.
The wastewater treatment industry faces mounting pressure from tighter regulations and having to treat higher volumes of wastewater with aging legacy infrastructure, leading to treatment costs doubling over the last 20 years. Utilities need solutions that work within and expand the capacity of existing systems without requiring massive capital investments.
CREW’s patented technology helps utilities get more out of their existing infrastructure. By improving pollutant removal, boosting settleability, and reducing reliance on costly chemicals, CREW increases plant capacity and efficiency, lowering both capital and operating costs and easing the burden on ratepayers.
Because CREW’s solution integrates into existing wastewater processes, utilities can see measurable results in weeks. CREW has already secured several long-term RFPs with utilities across the U.S.
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“CREW’s water technology is driving jaw-dropping results for wastewater customers,” said Tom Ferguson, Partner at Burnt Island Ventures. “On top of the improvements they deliver to wastewater utilities, CREW’s precise measurement of permanent carbon removal is highly differentiated in the crediting market and empowers carbon credit buyers to know exactly what they are paying for. Together, CREW’s technology and business model are aligning good environmental outcomes with the bottom line for a massively impactful industry.”
Process optimization and decarbonization at scale
CREW’s process that improves wastewater treatment performance also permanently removes carbon dioxide.
CREW uses strategically-sourced alkaline minerals, such as calcium carbonate, to optimize key conditions like pH and alkalinity in the wastewater treatment process. CREW delivers better biological performance for operators while locking away CO2 and superpollutant emissions in a permanent, measurable form – all by leveraging existing industrial infrastructure, with none of the federal funding or permitting support that other carbon removal approaches typically require.
That precision and pragmatism has allowed CREW to deliver verified carbon removal credits to corporations in long-term agreements including JP Morgan, Google, Autodesk, Stripe, and others through Frontier. CREW has also signed other long-term offtakes. Carbon credit buyers increasingly realize that highly measurable, engineered CO2 removals are key to net-zero goals.
“We are pleased to welcome CREW to our portfolio,” said Andrew Hinkly, Managing Partner at AP Ventures. “CREW has impressed us with its rapid progress, ability to deliver real carbon dioxide removal, and high-quality low-cost approach to CDR. The team is focused on executing a clear go‑to‑market strategy that leverages existing industrial infrastructure and well‑defined customer pain points to unlock decarbonisation at scale. CREW is advancing quickly, and we look forward to supporting their continued growth.”
SOURCE: PRNewswire
