Dotz Nano to raise $12m for carbon capture technology

Australian listed, Israel based climate tech company Dotz Nano has entered into a funding agreement with Mercer Street Global Opportunity Fund, a US-based investment fund managed by Mercer Street Capital Partners to raise up to $12 million.

The funds from the issue of convertible notes will be used primarily to accelerate the development of the company’s DotzEarth carbon capture technology and for general working capital requirements.

The technology is bases on a solid and porous carbon sorbent specifically designed with a pore size to effectively capture CO2.

Dotz uses plastic waste as the primary raw material for the sorbent in a process developed in the labs of Dr James Tour at Rice University in Texas, USA.

Ditz Nano CEO Sharon Malka said: “The backing of Mercer provides the company with the runway needed in the near-term so that we can accelerate the development of DotzEarth carbon capture technology and execute our plans for growth.”

The company will issue convertible notes to Mercer under a minimum of three tranches totalling $5 million, with the third tranche subject to the approval of the company’s shareholders.

Approval from shareholders may be sought for subsequent tranches depending on the size of the subsequent tranche.

Picture: Sharon Malka