Innovation
Mission Zero Technologies: Climate tech to change humanity's relationship with carbon
- Innovation
- Article
- 4 minutes read
We spoke with Mission Zero Technologies (Mission Zero) about their capabilities, ambition to break into new markets and verticals, and how they cultivate relationships with key investors in the climate tech sector.
- Mission Zero Technologies needed a financial services provider to help achieve their ambitions as they enter new markets and verticals.
- HSBC Innovation Banking offers Mission Zero Technologies a credible banking partner that provides confidence for investors.
- Connections and introductions have opened key doors for Mission Zero as they reach the scale-up stage.
About Mission Zero: A climate tech firm rethinking the world's use of carbon
Mission Zero Technologies (Mission Zero) is an innovative direct air capture (DAC) capture company looking to reinvent carbon for good. Their technology pulls carbon dioxide directly from the atmosphere for use in various manufacturing processes as well as for permanent removal, helping society to move away from fossil fuel-based carbon sources and mitigate the worst impacts of climate change. Mission Zero's DAC can be used to take carbon from the air we breathe and turn it into products ranging from sustainable fuels and building materials to carbonated beverages, highlighting the wide impact it can have on the things we use every day.
Over the last five years, the company has moved a brand new climate technology from a lab concept to three international deployments with paying customers, and they are currently developing their next generation solutions for multi-kilo tonne-scale CO₂ removal. Their ultimate goal is to reinvent carbon for a thriving planet, helping the world to meet its 2050 climate goals.
A banking partner that understands the climate space
Shiladitya Ghosh, Chief Operations Officer, Mission Zero Technologies"We wanted to make sure that whoever we selected [as a banking partner] is credible to both our funders and investors, as well as our customers and suppliers. So they can fully trust that even though this is a growing startup, the financial picture of the company is in good health and is taken care of by trusted hands."
As they looked to scale up, Mission Zero's founders needed a bank that could handle a larger volume of funds, and meet growing FX and international payment needs. They turned to us not only because of the range of services we provide, but also because of our expertise in the climate tech sector.
We don't just look after Mission Zero's finances today, but our expertise helps them understand what they may need in the future. Our bespoke forms of capital and lending solutions are invaluable in their growth as a company and maturing their financial expertise.
Our services help Mission Zero ensure they're getting the best value from their capital even when it's not being directly utilised, such as through savings accounts or fixed-term interest rate mechanisms. Other day-to-day services we provide include deposit accounts offered with different term durations and interest rates, and currency accounts in both euros and US dollars.
Scaling fast: New verticals, new facilities, new capabilities
Shiladitya Ghosh, Chief Operations Officer, Mission Zero Technologies"Working together with [HSBC Innovation Banking] has unlocked benefits that we didn't know we needed at the time of starting to work together, but has become more apparent in our growth journey."
Mission Zero has ambitious aims to be the world's leading DAC company. To achieve this, they're currently scaling up fast, with a view to moving into more markets and deploying systems at larger scales. As well as opening a new research and development facility in London, they're focusing on verticals including carbon removal, food and beverage, building materials, and clean fuels to prove the broad industrial potential of their versatile technology.
We've been assisting with this in several ways. As well as offering expanded banking services, our expertise with venture debt and project financing gives Mission Zero's founders the options they need to scale.
Shiladitya Ghosh, Chief Operations Officer, Mission Zero Technologies"There have been several key introductions made via our partners at the team at HSBC Innovation Banking that have led to significant progress in certain relationships or lines of exploration within the business."
Our connections and extensive experience across the climate tech sector are helping take the business to the next level - and each step helps Mission Zero contribute to the world's long-term net zero goals.
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