A new field of business is emerging in the fight against global warming – removing carbon from the atmosphere. While big air vacuums have been used in this endeavor, new technology is now focusing on utilizing the ocean’s capabilities as a major carbon sink. The ocean, often referred to as the lungs of the planet, absorbs a quarter of all carbon dioxide we produce and generates half of the oxygen we need. However, with increasing heat and carbon dioxide levels, the ocean’s ability to function optimally has been compromised.
Companies such as Ebb Carbon, Equatic, Captura, and Running Tide are now using innovative methods to restore ocean chemistry and enhance its carbon absorption capabilities. This involves utilizing an electrochemical process to remove acid from seawater, enabling it to absorb and store carbon dioxide more effectively. Ebb Carbon alone aims to remove one million tons of CO2 annually within five years. These new technologies not only contribute to addressing climate change but also offer potential revenue streams through carbon removal services and sales of offsets to companies seeking zero-emission goals. The scalability and potential for lower costs make this an attractive opportunity for investors.
Ebb Carbon, backed by Prelude Ventures, Evok Innovations, Congruent Ventures, and Propeller, has raised $27.75 million to date for its ocean-based carbon removal technology.