November 01, 2023 | Carbon Credits |
Startups in the carbon removal sector are experiencing a surge in investor interest, securing hundreds of millions in funding. These ventures offer diverse solutions, from underground storage to ocean sequestration, addressing the urgent need for stable carbon storage. Recent funding trends indicate a significant increase in financing activities related to carbon removal initiatives, underscoring the growing acknowledgment of alternative solutions alongside clean energy sources. Notable startups include Loam Bio, using microbial technology for soil carbon capture; Charm Industrial, transforming biomass into bio-oil for underground storage; Ebb Carbon, employing ocean alkalinity enhancement technology for large-scale ocean carbon removal; Captura, developing direct ocean capture technology; CarbonCure Technologies, injecting captured carbon into fresh concrete; and C-Crete Technologies, innovating carbon-negative concrete. While scalability remains a concern, these startups' substantial investments highlight a rising confidence in their role in mitigating excess carbon in the atmosphere.