By Milcah Tanimu
Kenyan cleantech startup Octavia Carbon has raised $5 million in seed funding. The funds will help scale its carbon capture operations and build a Direct Air Capture (DAC) storage plant. Lateral Frontier and E4E Africa led the round, with support from Catalyst Fund, Launch Africa, Fondation Botnar, and Renew Capital.
Founded in 2022 by Martin Freimüller and Duncan Kariuki, Octavia Carbon focuses on removing CO2 from the atmosphere. It uses DAC technology, which draws air into machines, filters out CO2, and stores it underground. In Kenya, the CO2 is injected into the Rift Valley’s porous basalt, where it solidifies over time.
Freimüller and Kariuki initially built their first carbon capture machine on a kitchen table. Now, with this new funding, they plan to launch the first phase of the plant later this year.
Freimüller emphasized that Octavia stands out by using Kenya’s geothermal energy, especially waste heat. This significantly reduces DAC costs. In fact, 80% of the company’s electricity needs are powered by geothermal waste.
Octavia generates revenue by selling carbon credits to offset emissions for companies and individuals. So far, it has pre-sold 2,000 tons of CO2, potentially earning over $1 million in revenue. The current cost of extracting a ton of CO2 ranges from $680 to $820. However, Octavia aims to reduce this to $100 as it scales up to capture 1,000 tons annually.
Globally, Octavia is one of only 18 DAC companies, including Climeworks and Carbon Engineering. These firms are critical to achieving the United Nations’ carbon removal goals. Octavia also plans to become an Original Equipment Manufacturer (OEM) for DAC machines, allowing it to sell technology to developers worldwide.
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