Nanotechnology company Dotz-Nano signed an agreement in the amount of 12 million Australian dollars with an American capital fund, which will be invested in the development of carbon dioxide capture technology.
The company recently completed the A$12m. fundraising round with American capital fund Mercer, Street Global Opportunity Fund.
Among the major investors in the firm is the Israeli venture capital fund SIBF.
Dotz’s advanced carbon adsorption technology uses plastic waste to produce a solid filter. The purpose of the filter is to capture the carbon dioxide emitted from the chimneys of industrial facilities and prevent it from reaching the atmosphere. It was found that the increase in the concentration of carbon in the atmosphere is directly related to the phenomenon of global warming and carbon adsorption technologies, including that of Dotz, were developed to help the global effort to deal with this phenomenon.
Dotz’s technology has distinct advantages over competing technologies, most of which are based on chemical capture, and enables savings in operating costs, with environmental benefits and high selectivity in CO2 capture.
Dotz Nano CEO Sharon Malka said: “The backing of Mercer provides the company with the runway needed in the near-term so that we can accelerate the development of DotzEarth carbon capture technology and execute our plans for growth.”