Arca secures $12.2 million from Side Stage Ventures and Saniel Ventures
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The news: Arca has secured $US8 million ($12.2 million) from Australian venture capital firms Side Stage Ventures and Saniel Ventures to help scale its carbon removal technology at Western Australian mine sites.
The numbers: The funding coincides with new strategic partnerships between Arca and the Development Partner Institute, the Climate Recovery Institute, Wyloo and an unnamed Western Australian gold producer to assess carbon removal opportunities using existing mine tailings to capture and store atmospheric CO2.
The context: The announcement aligns with Western Australian government initiatives including Premier Roger Cook's Carbon Capture Utilisation and Storage Action Plan. The partnerships aim to accelerate carbon mineralisation, where Arca's technology transforms atmospheric CO2 into stable carbonate minerals using mine waste. The timing corresponds with the Team Canada Trade Mission, highlighting growing Australian-Canadian cooperation in climate technology.
What they said: "We are thrilled to collaborate with forward-thinking partners who recognise the critical role carbon mineralisation can play in decarbonising the mining industry," said Arca chief executive officer Paul Needham.
"Australia is a world leader in mining and is uniquely positioned to drive the global industry to a lower carbon future," said Side Stage Ventures principal investor and Canadian Australian Chamber of Commerce co-chair Elli Hanson.
