Scaling Carbon Management: How Mitsui Backed Three Breakthrough Startups

YEARS AS A POWERHOUSE INNOVATION CLIENT

3

Scaling Carbon Management: How Mitsui Backed Three Breakthrough Startups

YEARS AS A POWERHOUSE INNOVATION CLIENT

3

Scaling Carbon Management: How Mitsui Backed Three Breakthrough Startups

YEARS AS A POWERHOUSE INNOVATION CLIENT

3

Scaling Carbon Management: How Mitsui Backed Three Breakthrough Startups

YEARS AS A POWERHOUSE INNOVATION CLIENT

3

SERVICES

  • Sourcing

  • Diligence

SEGMENT

  • Corporate

  • Investor

TECH TOPICS

  • Direct Air Capture

  • Sustainable Aviation Fuel

  • Industrial Decarbonization

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Client Need

Mitsui & Co., Ltd., a global conglomerate with a growing clean energy portfolio, engaged Powerhouse Innovation to accelerate its investment in carbon management and sustainable fuels. Mitsui needed a partner to provide technical expertise across a range of technology topics as well as continuous support to span sourcing and diligence.

Services Delivered

Powerhouse Innovation partnered closely with Mitsui’s Green Innovation Department to deliver targeted support at each stage of the investment process:

  • Sourcing: We curated a pipeline of high-potential startups working on carbon removal and utilization, surfacing opportunities that aligned with Mitsui’s technical, commercial, and strategic priorities.

  • Diligence: We supported Mitsui in drafting investment memos, assessing team strength, technology readiness, and offtake potential to inform internal decision-making and stakeholder alignment. For each investment opportunity, we modeled cost structures, identified key performance and risk drivers, and benchmarked the technologies against market peers. This included detailed assessments of capital cost, energy requirements, and commercial scalability.

Outcome Achieved

Powerhouse Innovation helped Mitsui make three strategic investments in climate tech companies tackling some of the hardest-to-abate emissions sectors.

Deploying direct air capture (DAC) and sustainable aviation fuel (SAF) at scale faces well-known challenges: high capital and energy costs, limited offtake contract opportunities, and complex unit economics. The companies Mitsui invested in are each addressing these challenges in different ways:

  • Heirloom: Uses low-cost limestone instead of expensive synthetic sorbents to absorb CO₂, reducing upfront capital requirements and long-term operating costs.

  • Twelve: Builds flexible, low-temperature CO₂ electrolyzers that respond to fluctuating power prices, lowering the cost of e-fuel production.

  • Infinium: Has moved faster than peers to commercial scale, launching the world’s first e-SAF facility in 2023 with a larger project in development—demonstrating both scalability and buyer traction.
    These investments aligned with Mitsui’s focus on carbon management and advanced their efforts to build a strong, future-ready climate tech portfolio.

© 2025 Powerhouse Innovation. All rights reserved.

© 2025 Powerhouse Ventures. All rights reserved.

© 2025 Powerhouse Innovation. All rights reserved.

© 2025 Powerhouse Innovation. All rights reserved.