Running Tide, a startup in the carbon removal sector, announced a $54 million Series B round led by Lowercarbon Capital.
On top of this, they also announced the completion of their very first carbon removal operation in the open ocean. This breakthrough, backed by their first customer Shopify, resulted in the delivery of 100 credits.
Running Tide leverages the ocean’s natural ability to store carbon through kelp. Their ambitious plan, the OceanOS, is an integrated operating system combining logistics, tech, software, and earth science to scale up one of the world’s most affordable and vast carbon removal methods – the ocean itself.
Did you know that the ocean has the capacity to transfer 10 billion tons of fast carbon back to the slow carbon cycle annually? This ocean-based solution stands out against other nature-based carbon removal solutions, such as tree planting, which fail to tackle fast carbon in the same way.
With the global economy lagging behind in decarbonization efforts, ventures like this are critical. Carbon removal is now considered essential to hitting climate targets.