Carbon Ridge, a Los Angeles, CA-based developer of modular onboard carbon seize & storage options, raised $6M in funding.
The spherical was led by Grantham Basis with further funding from Crowley, Berge Bulk, Rusheen Capital Administration and Plug and Play Ventures.
The corporate intends to make use of the funds to proceed the event of its OCCS know-how for an onboard pilot in 2023.
Led by CEO Chase Dwyer, Carbon Ridge is a developer of carbon seize & storage options for the maritime business. Its OCCS know-how offers a low-cost and near-term resolution to cut back carbon dioxide and different greenhouse gases emissions from industrial delivery by as much as 95%. The know-how permits for integration to vessel exhaust techniques, permits discount in course of gear dimension and quantity compared to typical CCS applied sciences, and is designed for industrial maritime operations.