In a bold move that reflects a growing trend among investors to seek out impactful solutions to climate change, Sébastien Fiedorow left his venture capital career behind after just four phone calls. The catalyst for this dramatic shift was a conversation with Marble, a Paris-based startup studio, which introduced him to a groundbreaking project focused on Direct Air Capture (DAC) technology—an innovative method aimed at removing carbon dioxide directly from the atmosphere.
Initially skeptical, Fiedorow was hesitant to dive into the DAC sector. “They approached the subject as being a DAC company, and I was like, ‘No, no way. I won’t go in that space,’” he shared with TechCrunch. However, after a series of meetings with scientist Steven Bardey, Fiedorow’s perspective shifted. “Once we dug into the numbers and did a back-of-the-napkin techno-economic assessment, that was the switching point for me,” he recalled.
This collaboration led to the founding of Aerleum in 2023, where Fiedorow and Bardey aim to refine DAC technology. Unlike many DAC firms that focus solely on carbon capture—often involving the use of cumbersome, sponge-like structures to absorb CO2—Aerleum has developed a more efficient process. The startup's innovative approach bypasses several steps in the traditional DAC model, allowing them to capture carbon dioxide and convert it into methanol in a streamlined two-step process.
Fiedorow articulated their mission: “Should we really have to get through all of these steps, or can we just bypass some of them? Where do you have the most energy penalties? It was really in the middle, the intermediate steps where you have to dissolve the CO2, compress it, and transport it.” Aerleum's technology transforms the captured CO2 into methanol, an alcohol that can be utilized as a fuel for cargo ships or as a chemical feedstock, enhancing its commercial viability.
Aerleum employs a unique setup where their proprietary sponge-like material absorbs CO2 from the air. Once saturated, the process introduces hydrogen gas, triggering a reaction that produces gaseous methanol. This methanol is subsequently extracted and purified, creating a potentially sustainable solution to both carbon capture and energy production.
While the startup is currently focused on atmospheric CO2, Fiedorow noted that their technology has been tested with concentrations of up to 15%, indicating potential applications in capturing emissions from industrial processes as well.
To advance their mission, Aerleum has secured $6 million in seed funding, backed by prominent investors such as 360 Capital, HTGF, Bpifrance, Marble, and Norrsken. This funding will help them build a pilot version of their DAC device, with an ambitious goal of producing methanol for under $1,200 per metric ton. Currently, methanol prices fluctuate between $380 and $780 per metric ton, depending on market conditions.
Looking ahead, Fiedorow has set an ambitious five-year target to reduce production costs to around $650 per metric ton, positioning Aerleum as a formidable competitor in the energy market, even against fossil fuels.
Fiedorow’s journey from venture capital to climate technology embodies a growing shift toward sustainable innovation, highlighting the potential of DAC technologies in combating climate change. With Aerleum's pioneering approach, the startup is poised to not only contribute to reducing atmospheric CO2 but also reshape the future of renewable energy. As they forge ahead, the tech community will be watching closely to see how they deliver on their ambitious goals while fostering a more sustainable future.
