Aramco and Spiritus, a climate technology firm located in Los Alamos, New Mexico, signed a memorandum of understanding (MoU) and Spiritus got funding from Aramco Ventures. Spiritus offers scalable direct-air-capture (DAC) of carbon removal technologies.
The deal’s total value was not made public.
Use of funds
The money will be used by the business to grow both its operations and growth initiatives.
The investment is a component of an agreement between Spiritus and Aramco to advance Spiritus’ technology, perhaps pilot and expand its deployment, and localize its supply chain within the Kingdom of Saudi Arabia.
About Spiritus
CEO Charles Cadieu is in charge. Leading the way in Direct Air Capture (DAC) technology, Spiritus is a climate tech business that provides a modular and scalable solution for affordable DAC and sequestration (DAC+S).
