Brineworks Raises EUR 6.8 Million to Scale Sub-$100 Direct Air Capture Tech

Amsterdam-based cleantech startup Brineworks announced EUR 6.8 million in funding to advance its electrolyzer-based Direct Air Capture technology, which the company says can capture CO2 from the atmosphere at below $100 per tonne. The financing includes EUR 5 million in seed funding led by SeaX Ventures and a EUR 1.8 million grant from the European Innovation Council Accelerator.

Founded in 2023 by CEO Gudfinnur Sveinsson and CTO Dr. Joseph Perryman, Brineworks has developed a patented electrolyzer that uses saltwater and can operate on intermittent renewable electricity, distinguishing it from conventional DAC systems that require expensive sorbents, continuous operation, and thermal energy inputs. The company claims its technology enables sub-$100 per tonne CO2 capture, significantly undercutting the $200 to $600 per tonne cost range common among existing DAC systems. Hydrogen co-production is integrated into the process, enabling affordable synthetic fuel production alongside carbon removal.

Direct air capture has been identified by the International Energy Agency as a key carbon removal pathway in the net-zero transition, but high capital and operating costs have limited commercial deployment. Brineworks' approach targets the cost barrier directly by leveraging the declining cost of renewable electricity and designing its system to run only when power prices are low, reducing energy expenditure. The ability to use seawater as feedstock also expands location options compared with freshwater-dependent alternatives.

The company will use the new capital to scale its system to pilot level, with commercial readiness targeted by the end of 2026. Investors including Pale Blue Dot and First Momentum joined seed lead SeaX Ventures, whose managing partner cited Brineworks' potential to meaningfully reduce global emissions. If the sub-$100 per tonne cost threshold is demonstrated at scale, it could materially accelerate voluntary carbon market demand for DAC credits, which currently command premium prices reflecting the high costs of the technology.

Key figure — Sub-$100 per tonne target CO2 capture cost