Mitico Closes $4.3M Funding Round to Upscale Carbon-Capture Technology

Mitico raised $4.3 million in Exergon-led seed funding to scale-up its granulated metal-carbonate sorption CO₂-capture technology, designed to reduce pollutants from low- to mid-emitting industries. The company secured two paid pilot testing projects to deploy in 2025—an effort to achieve early market validation and demonstrate the technology’s impact. The new financing will accelerate these technology pilots and advance commercial scaling.

"This funding marks a critical milestone in our mission to make industrial carbon capture not just possible, but economically viable at commercial scale," said Clément Cid, CEO of Mitico. "Our integrated sorbent technology represents a significant leap forward in reducing carbon emissions. It provides carbon capture with a technology that removes risks and lowers costs for industrial customers."

Mitico’s Technology

The carbon-capture system was originally developed and validated at the California Institute of Technology, demonstrating scalability, lower energy usage, and minimized cost. Mitico’s solution captures more than 95% of CO₂ emissions from post-combustion point sources, such as gas-fired power plants, boilers, waste-to-energy, and biomass-to-energy sites. The high-capture rate would enable these markets to accelerate global decarbonization efforts.

Granulated metal carbonate sorption system; image credit: HAX

Key Investors

Exergon, a decarbonization fund managed by Audacia, led the funding round. Mitico obtained more funding than originally targeted, with participation from financial and industrial investors like:

• Gore Ventures
• AP Ventures
• Halliburton Labs
• SOSV
• Freeflow Ventures
• SoCal Alliance for Innovation
• Deepbright Ventures

"Capturing CO₂ at the source of emission is essential for short-term decarbonization in hard-to-abate industries, such as gas-based power generation,” said Vincent Brillault, Managing Partner at Exergon. “We surveyed many decarbonization technologies before selecting Mitico. Their solution caught our eyes for its scalability, its relative simplicity, as well as the dynamism and entrepreneurial spirit of its team. We're excited to support their work and contribute to the decarbonization of industrial emitters globally."

Carbon-Capture Pilots

With the resurgence of gas-fired power driven by the current and projected increase in electricity demand, carbon-capture projects may serve to keep decarbonization initiatives on track into the future. At POWERGEN 2025, Kevin Lauzze, Senior Vice President of Sargent & Lundy, presented Lessons Learned from Carbon-Capture Pilot Projects, outlining the advantages and risks of carbon-removal pilots prior to market entrance, as well as potential funding opportunities.

“Pending the decisions of our current administration, there are currently many opportunities for the Department of Energy (DOE) to fund these projects,” said Lauzze. “Four projects have already been announced by the DOE and are underway, and people can apply for pilot project funding. The DOE is committed to funding these types of projects to surpass challenges associated with obtaining a TRL. There is about $70 million in project development funding with the DOE.”

Pilot project developers should consider the following:

• Temporary vs. permanent installations must be evaluated, as it heavily impacts cost
• The test plan should be completed pre-FEED
• Pilots should embrace using smaller or used equipment, as some industrial vendors may not prioritize these orders, leading to longer wait times
• Demonstration equipment can be built from scratch
• Pilot projects should closely (or exactly) replicate the full-scale commercial model or operating scenario