Spokane Valley-based clean-tech startup CarbonQuest Inc. has secured $20 million in fresh funding to scale its Distributed Carbon Capture technology and grow its workforce. CEO Shane Johnson confirmed that the investment will allow the company to extend its reach to more customers while hiring additional industry experts.
This latest funding round builds on CarbonQuest’s initial Series A investment from August, bringing its total capital raised to $56 million. Johnson explained that after completing the Series A round, further strategic investment opportunities emerged, leading to this new influx of capital. This comes in spite of Series A droughts reported recently.
Strategic Investors Fueling Growth
“We’re thrilled to welcome this trio of investors who will help us expand and accelerate our business,” Johnson said. “Their strategic input will open commercial opportunities and introduce us to broader markets.”
The investment comes from Energy Capital Ventures, based in Chicago, and New York’s Aligned Climate Capital, both of which focus on funding clean energy and sustainability innovations. Additionally, in August, Houston-based Riverbend Energy Group contributed $36 million, reinforcing CarbonQuest’s financial backing.
Expanding Workforce and Operations
With the new funding, CarbonQuest aims to double its Spokane staff and enhance the commercial rollout of its carbon capture systems. The company is also launching a service program to assist clients with system operations, management, and CO2 offtake maintenance.
Since last August, CarbonQuest’s workforce has expanded from 25 to 38 employees, with plans to reach 60 staff members by year-end. The company, headquartered at 3010 N. First, just south of Spokane Business & Industrial Park, anticipates growing its team to around 75 employees by 2026.
“We’re actively looking to expand our facilities in Spokane,” Johnson noted. “Our long-term vision is to build a strong, impactful company right here.”
Innovative Carbon Capture Technology
Founded in 2020 by a group of Spokane-area environmental technology entrepreneurs, CarbonQuest specializes in capturing, separating, liquefying, and storing carbon emissions from large buildings before they enter the atmosphere.
This circular approach helps property owners lower their carbon footprint, improve energy efficiency, meet environmental regulations, and foster healthier indoor environments. The company deployed its first fully operational carbon capture system in New York City in 2022 and has since expanded its client base across the Northeast, Midwest, West, and Canada.
With its latest funding and expansion plans, CarbonQuest is positioning itself as a leader in the evolving clean-tech industry, helping businesses and cities tackle carbon emissions more effectively.
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