Avnos Raises $36 Million, Grows Operations

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Avnos Raises $36 Million, Grows Operations
Plant: Avnos removes carbon dioxide from the atmosphere while generating water.

As chief carbon scientist and head of engineering for Montreal-based carbon removal project developer Deep Sky, Phil De Luna is charged with sourcing and partnering with the most promising direct air capture companies around the globe to deploy and test the technology in Canada at the company’s innovation and commercialization center Deep Sky Labs.

So when he learned about Westchester-based Avnos Inc.’s unique approach that removes harmful carbon dioxide from the atmosphere while generating water, it piqued his interest.

Founded in early 2020 by Chief Executive Will Kain, Avnos relies on specialized technology known as Hybrid Direct Air Capture to simultaneously capture carbon dioxide and water from the atmosphere.

It’s a different approach than Direct Air Capture, utilized by companies like CarbonCapture to remove CO2 from the atmosphere with the goal of storing it underground.

“The problem with direct air capture is that it is a water-consuming industry,” said Kain. “Generally speaking, five to 13 tons of water are consumed for every ton of CO2 that is removed from the atmosphere.”

In contrast, Avnos’ HDAC technology actually generates water, about five tons for every ton of CO2 that is removed from the air. 

Capturing CO2 and water

Ben McCool, the senior vice president of technology at the company, said a single Avnos system captures both CO2 and water from the atmosphere. 

“We use the heat generated by capturing water from the air to release that water in another part of the cycle,” said McCool. “That released water is then used to produce the purified CO2 captured in the first part of the cycle. It’s this interplay between water and CO2 capture that creates differentiating energy and cost savings for a plant operator.”

McCool said Avnos’ technology represents an inversion of Direct Air Capture’s standard relationship with water and its use of water lowers the energy footprint of the removal process.

“In a generic DAC process, heat is critical to separate the removal of CO2 from its ‘sponge,’ or sorbent, and regenerate that sorbent so that a plant may operate cyclically,” said McCool.

By contrast, McCool said Avnos uses a reaction enabled by the water it captures from the atmosphere to regenerate its sorbents, thereby eliminating the need for a source of external heat.

The HDAC technology was co-developed with Pacific Northwest National Laboratory, which is managed by the U.S. Department of Energy’s Office of Science.

Kain had a pre-existing relationship with the lab, having worked in the climate technology space for more than 17 years.

“I was very excited about the potential of this technology,” said Kain. “It is the only one that I am aware of that can rid the atmosphere of CO2 and help address water scarcity, which continues to get worse.”

“When I first started in 2007, scientists were predicting that 50% of the global population would live a water-stressed or scarcity existence by the year 2035,” he added. “Now the timeline has been moved up to 2025.”

Securing series A funding

Since its launch, the privately held company has secured over $100 million from investors, including $36 million in series A funding, which it announced in February.

The effort was led by a subsidiary of NextEra Energy Resources, which together with its affiliated entities is the world’s largest generator of renewable energy from the wind and sun and a global leader in battery storage.

Last year Avnos signed multi-year strategic and investment partnerships worth more than $80 million with ConocoPhillips, JetBlue Ventures and Shell Ventures, according to a Business Wire release.

Kain said the series A funding would be used to grow its team of scientists, expand its geographical footprint and open a state-of-the-art research and development center in Bridgewater, New Jersey. 

“When we began 2023, we had six people,” said Kain. “Now we have 20 and are anticipating growing our team to 30 by the end of the year. Twelve of our people will be located in our research facility in New Jersey.”

De Luna had been tracking Avnos’ progress for a while and was impressed by the potential of the HDAC technology.

Setting up a pilot site in Canada

And on Feb. 2, Deep Sky signed an agreement with Avnos to set up a pilot site in Canada.

“We are currently reviewing multiple locations across Canada, especially in Quebec because of its renewable energy and rich geology that makes it optimal for carbon storage,” said De Luna.

“The greatest challenge to operating the technology is our sub-zero temperatures in the winter, but we are working closely with Avnos’ engineering team to overcome the obstacles to testing this unit in the field,” said De Luna.

The pilot is expected to be operational by mid-2025 and is designed to capture 450 tons of CO2 and produce 2,250 tons of water a year.

“Avnos’ water-based technology is very unique and its potential for manufacturability and scalability is quite strong,” said De Luna.

“Their tech can run entirely on electricity and the team Will and Ben have assembled is first class,” De Luna added. “We look forward to deploying their tech at Deep Sky Labs to advance Canada’s position as the world leader of carbon removal.” 

Avnos already has one working pilot in Bakersfield which has been up and running since August.

Funded by the Department of Energy and Southern California Gas Co., it has the capacity to capture 30 tons of CO2 and churn out 150 tons of water.

The U.S. Department of Defense is sponsoring the deployment of a second pilot in Bakersfield, which is expected to be operating in early 2025. It will have a 450-ton capture capacity like the one in Canada.

“We are growing rapidly,” said Kain. “Our goal is to get to gigaton scale of removal, traversing borders and eliciting the help of fellow pioneering partners around the world.”

“At Avnos, we’re not just developing technology; we’re contributing to a global effort to combat climate change and water scarcity,” said Kain.

“By offering the industry a novel process that not only removes CO2 but also generates water, we’re addressing two critical environmental challenges simultaneously,” said Kain. “We aim to make a tangible difference for future generations.”

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