Vaulted Deep Secures Up to $35 Million Debt Financing from Mediobanca for U.S. Carbon Removal Buildout

Vaulted Deep has secured up to $35 million in debt financing from Italian bank Mediobanca to expand its U.S. carbon removal operations, a rare instance of institutional lending to the sector. The financing is backed by offtake agreements with corporate buyers including Microsoft and Frontier, the Google-led group that vets removal startups. Lenders typically require confidence in delivery, as Vaulted is paid only upon verification. Vaulted injects organic waste slurry underground for permanent CO2 storage. It operates sites in Kansas and California and is evaluating additional U.S. locations. The company has removed over 27,000 metric tons of CO2 for Frontier buyers in 2026, up 39% from all of 2025. Vaulted spun out of Advantek Waste Management in 2023. The deal marks a bright spot for a carbon removal industry that has faced setbacks, including Microsoft pausing new deals.