Oman-based climate technology company 44.01 has secured an undisclosed investment from global building materials company Holcim to support its international expansion.
Founded in 2020, 44.01 develops technology that converts captured carbon dioxide into stable carbonate rock. The process injects CO₂ into naturally reactive rock formations, enabling permanent underground storage near industrial sites and offering an alternative to offshore storage.
The investment builds on an existing commercial relationship between the two companies. Since July 2026, 44.01 and Holcim have been running a pilot under live industrial conditions at Holcim’s cement plant in Fujairah, UAE, where captured CO₂ is being stored underground and mineralised into solid rock.
Holcim joins 44.01’s existing investors, including JERA, Breakthrough Energy Ventures, Equinor Ventures, Air Liquide Venture Capital and Siemens Financial Services. Holcim said the deal supports its focus on digitalisation and emissions-reduction technologies through its open innovation framework.
44.01 raised $37M in Series A funding in July 2024, followed by an additional $7M in February 2025.
Source: Jawlah
