Startup Carbon Ridge has secured $9.5 million for their patent-pending onboard carbon capture technology for the maritime sector.
The round was led by Crosscut Ventures and Western Technology Investment, with participation from the The Grantham Foundation for the Protection of the Environment, Berge Bulk, Rusheen Capital Management, LLC, Plug and Play Tech Center, Katapult Ocean, Incite, Spitzer Industries, Inc., and Canopy Generations Fund.
This funding will enable Carbon Ridge to speed up deployment of their systems, helping to capture carbon emissions directly on ships. If implemented at scale, this tech could significantly reduce emissions for shipping worldwide. The system can reduce CO2 emissions by up to 75% and eliminate over 99.9% of particulate matter, NOx, and SOx emissions.
For maritime and environmental stakeholders, this solution could transform one of the hardest-to-decarbonize industries.
