Aramco Ventures, the investment arm of Saudi Aramco, has led a US$30 million Series A funding round for the US-based climate tech company Spiritus.

The funding will assist Spiritus in scaling its direct air capture (DAC) technology. This technology aims to reduce carbon emissions in sectors such as data centers and industrial construction.

Spiritus CEO and co-founder Charles Cadieu underscored the importance of tackling carbon emissions while expanding infrastructure.

Bruce Niven, executive managing director of strategic venturing at Aramco Ventures, noted that while DAC technologies could aid in decarbonizing difficult-to-abate industries, high costs have hindered their widespread adoption.

He stated that innovative technologies like those developed by Spiritus are essential for achieving large-scale decarbonization.

Recent climate tech developments