UK's Airhive buys Dutch rival Carbyon to combine carbon-capture tech
What's the deal? London-based startup AirhiveDealroom has a profile for this one. Try Dealroom → has acquired Dutch competitor Carbyon in a direct air capture (DAC) deal. Both companies build technology to remove CO2 from the atmosphere.
What's the endgame? The acquisition combines complementary technologies under a single owner. It also creates a capital structure that gives the merged business "more robust financial backing," according to Airhive.
Why now? Hundreds of carbon-removal companies have formed over the past few years, including nearly 150 DAC firms chasing the same goal of pulling carbon from the air. Consolidation offers a way to pool technology and money in a crowded field.
The signal: With so many startups competing to scale unproven carbon-removal technology, deals like this point to a sector beginning to consolidate around the players with the strongest funding.
Read more: Financial Post
Image: Red Trail Energy CO2 capture plant, Richardton ND. Credit: Acroterion / Wikimedia Commons, CC BY-SA 4.0
