Development Bank of Japan and Chiyoda Invest in Heirloom

Strategic investments position Heirloom for participation in Japan’s emerging carbon market

BRISBANE, Calif.–(BUSINESS WIRE)–Heirloom, America’s leading Direct Air Capture (DAC) technology provider, today announced investments from the Development Bank of Japan Inc. (DBJ) and Chiyoda Corporation. These investments build on the $150 million Series B and a more recent investment from United.

The investments underscore growing interest in Heirloom’s DAC technology, specifically from Japanese investors. Heirloom’s Series B round included participation from Japan Airlines Co., Ltd., Mitsubishi Corporation, and Mitsui & Co., Ltd.

Heirloom’s growing strategic partnerships with Japanese investors position the company to engage with Japan’s emerging emissions trading system. The GX-ETS, currently in its voluntary phase, is expected to shift to mandatory compliance in 2026 and become Asia’s second-largest carbon market. Engineered removals such as DAC are eligible to generate verified credits that regulated Japanese corporations can use to meet part of their compliance obligations — balancing affordability with climate integrity.

Additionally, both investors add strategic value for Heirloom. Government-owned DBJ is Japan’s major finance institution and plays a crucial role in supporting technologies aligned with Japan’s Green Transformation (GX) initiatives and 2050 carbon neutrality goals. Its investment in Heirloom is its first in a DAC company – and among the earliest by a national financial institution in a DAC company – signaling that carbon removal is becoming core infrastructure for a decarbonized economy.

Chiyoda Corporation, one of Japan’s leading engineering and construction firms, brings extensive experience in CO₂ recovery, capture, and utilization systems. Heirloom will leverage Chiyoda’s world-class engineering expertise to accelerate the deployment of its DAC system around the world.

Heirloom’s DAC technology offers versatile applications for captured COâ‚‚, including permanent underground storage or utilization for producing sustainable aviation fuel (SAF). This flexibility aligns with Japan’s comprehensive approach to decarbonization, which includes both emissions reduction and carbon removal strategies.

“These investments from DBJ and Chiyoda strengthen our technical and financial foundation to build large-scale DAC systems that serve many roles across decarbonization — from providing CO₂ for clean fuels to enabling permanent carbon removal. Their joint expertise within Japan’s energy and industrial landscape will help accelerate the use of cutting-edge carbon technology where it can have the greatest impact,” said Shashank Samala, co-founder and CEO of Heirloom.

About Heirloom

Heirloom is a climate technology company scaling a next-generation Direct Air Capture (DAC) platform that provides the most cost-effective path to gigaton-scale carbon removal. Founded in 2020, Heirloom is accelerating the deployment of DAC technology that harnesses natural carbon mineralization to capture COâ‚‚ directly from the atmosphere.

Contacts

Scott Coriell – scott.coriell@heirloomcarbon.com