CNBC's Diana Olick reports on a startup impacting climate change.

Houston

Vaulted Deep, a startup based in Houston, Texas, is leveraging oil and gas waste engineering expertise to convert various forms of waste—including food, agricultural, and human waste—into a slurry that is injected deep underground. This process, which uses both new wells and repurposed salt caverns, aims to lock away carbon for hundreds of thousands of years, reduce methane emissions, and promote cleaner local environments.

The company sells carbon removal credits to large corporations such as Google, contributing to voluntary climate targets. Vaulted Deep has received $40.3 million in funding from several venture capital firms, and stores the waste in deep geological formations capped by impermeable shale, a method that has historically contained hydrocarbons for millions of years.

Startup works with waste stored underground to remove carbon dioxide

Food and agricultural waste, excess manures, human waste, and paper sludge. These are the materials that a Houston, Texas-based startup called Vaulted Deep deals in. Building on expertise from oil and gas waste engineering, it converts all this waste into so-called slurry and injects it directly into the earth. It's sort of a win-win, both a win for the climate because we're helping lock away carbon for hundreds of thousands of years, we're avoiding methane emissions, but we're also contributing to cleaner local environments and protecting community health. Vaulted adapts oil and gas deep well technology to build new wells and repurposes old salt caverns like this one in Kansas. The slurry is injected up to 5,500 feet underground, more than three times the height of the Empire State Building. Once underground, the slurry naturally mineralizes and stabilizes, ensuring permanent containment. Vaulted Deep not only contracts with waste management firms, but sells credits into the voluntary carbon markets. It's all voluntary commitments from these large companies saying, you know, hey, we care about the climate, we have ambitious climate targets, whether that's net zero or carbon neutral, and so they are voluntarily buying our carbon removal. Large companies like Google, which is a client. We think that Vaulted has an approach that because of its benefits to local communities and because of its impact not only on CO2, but also likely on methane, is poised to deliver that scale of impact over the long run. Vaulted Deep is backed by Prelude Ventures, Lower Carbon Capital, Earthshot Ventures, Woven Earth Ventures, Rethink Impact, and Fall Line Capital. Total funding, $40.3 million. Vaulted Deep's CEO says the material is stored in deep geological formations capped by thick, impermeable shale, the same type of rock layers that have safely contained hydrocarbons for millions of years.

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