Carbon Removal Startup Announces $7.8M in Funding, Offer of 3,000 Carbon Credits
Summary
● By essentially giving the ocean an antacid, the process can help heal local marine ecosystems harmed by climate change, improving natural growth in animals like coral and shellfish, leading to a better functioning food chain and a healthier regional economy. This funding will support the launch of Planetary’s pilot plants in Quebec and Nova Scotia, which will demonstrate a scaled version of its patented carbon removal process. The pilot plants will come online in phases beginning later this year and will be integrated with a major oceans research project in coordination with local partners to continually monitor the chemical and biological effects, and fine-tune Planetary’s process. “We are confident in Planetary’s trajectory and proud to support this entrepreneurial, tech-driven company through our Sustainability Fund, and we hope other companies will join our efforts to help scale carbon removal.” Planetary’s academic research partners include the University of Dalhousie and University of Miami Basico2 project, an XPRIZE Carbon Removal Student Award Winner. “Our unique technology has created a way for businesses to genuinely remove carbon from the atmosphere and speed their transition to net-zero,” said Brock Battochio, Planetary co-founder.