JERA backs carbon-to-rock startup 44.01 in first power-sector deal
What's the deal? JERADealroom has a profile for this one. Try Dealroom →, Japan's largest power generation company, has invested in 44.01, a startup that permanently stores captured CO₂ by turning it into rock. The deal, announced in November through its corporate venture arm JERA Ventures, marks 44.01's first backing from the power sector.
What does 44.01 do? Its in-situ mineralization technology injects captured CO₂ into underground reactive rock formations, where it reacts to form stable carbonate minerals. The company is scaling operations in the Middle East, developing projects in Europe, and exploring other markets.
Why it matters: Conventional carbon storage relies on geological formations such as deep saline aquifers that are unevenly distributed, often forcing operators to transport captured CO₂ long distances. Where suitable rock sits near industrial emitters, 44.01's approach can cut those distances and costs.
Why now? 44.01 is moving beyond short pilots. In July it began operating a live industrial carbon-mineralization project with HolcimDealroom has a profile for this one. Try Dealroom → at a UAE cement plant, designed to handle roughly 4 to 4.5 tonnes of CO₂ a day.
What's the endgame? JERA and 44.01 plan to explore how the technology could apply to power generation, plus broader opportunities in Japan and abroad. "Our investment in 44.01 offers an interesting opportunity to deepen our understanding of an emerging technology," said Takeshi Kodama, head of JERA Ventures.
Mounting backing: HolcimDealroom has a profile for this one. Try Dealroom → announced its own investment in 44.01 on the same day. A separate FrontierDealroom has a profile for this one. Try Dealroom → agreement will pay $11.7 million for 20,932 tonnes of removals delivered between 2028 and 2031, while existing backers include Breakthrough Energy VenturesDealroom has a profile for this one. Try Dealroom → and Equinor VenturesDealroom has a profile for this one. Try Dealroom →. JERA Ventures holds a strategic investment capacity of $300 million.
The signal: Carbon capture is seen as central to decarbonizing hard-to-abate sectors, but storage remains a bottleneck. JERA's entry adds a power-sector backer to a company racing to prove its process works reliably and economically beyond demonstration scale.
Read more: jera.co.jp
Image credit: Generated with Gemini
