BRIGHTON, Colo. — A carbon capture company outside Denver that built one of the world’s first direct-air collection systems has been acquired by a business planning major investment in the technology.
Brighton’s Global Thermostat, which last year unveiled its pilot direct-air-capture system for pulling carbon dioxide out of the atmosphere, has been acquired by New York City-based Zero Carbon Systems, another carbon capture business.
The exact terms of the deal were not disclosed. The transaction was valued “in the tens of millions, a mix of cash and equity,” Zero Carbon Systems founder David Elenowitz said, and is a prelude to more investment in the Brighton business.
“We’re maintaining everything, and we’ll actually expand it,” he said in an interview Wednesday with the Denver Business Journal. “It’s a great team and a great R & D center.”
Global Thermostat formed in New York City in 2010 to start researching how to pull carbon dioxide, the key greenhouse gas blamed for driving climate change, from the Earth’s atmosphere and capturing it for sequestration or reuse in industrial processes. It moved to Brighton, northeast of Denver, to be able to attract the necessary workforce to design and build its first systems.
> Read the full story at the Denver Business Journal.
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