Sam Altman-Backed Startup Aims To Store Carbon Dioxide In Rocks, Shrinking Decades-Long Timeline To 'Single-Digit Months'

A startup backed by Sam Altman‘s Apollo Projects, 44.01 is developing technology to store carbon dioxide in rocks, aiming to mitigate global warming. The Oman-based startup has recently secured $37 million in a Series A funding round to expand its operations internationally.

Why It Matters: The technology being developed by 44.01 could be a game-changer in the fight against climate change. The startup’s method involves injecting a mixture of CO2 and water into peridotite, a naturally fractured rock, which then sequesters the CO2 through carbon mineralization, reported Bloomberg.

Founder and CEO Talal Hasan stated, "Rather than taking decades as it would in nature, it's taking us single-digit months in the subsurface."

The startup aims to commercialize this technology in Oman and the UAE, having already completed pilot projects. Tests show it can currently store 50 to 60 tons of carbon dioxide daily, to sequester 100 tons per day per borehole at a commercial scale.

The approach by 44.01 is not only environmentally friendly but also economically viable. Although carbon mineralization costs up to three times more than the dominant supercritical storage method, it virtually eliminates the risk of carbon dioxide leakage, making it a more secure long-term solution.

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Why It Matters: Altman has a history of backing innovative startups. Recently, Rain AI, another Altman-backed venture, appointed a former Apple Inc. chip executive to lead its hardware engineering.

Altman's investment portfolio is extensive, with stakes in around 125 early-stage companies. His successful exits have significantly boosted his net worth, showcasing his knack for identifying promising ventures. In January, Altman was reported to be in talks with Samsung Electronics Co. and SK Hynix Inc. for potential partnerships in chip production.

Despite speculation about a $7 trillion AI chip project, Altman dismissed these claims, urging the public not to "pay too much attention" to such reports.

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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote