Ebb Carbon, a San Carlos, CA-based ocean-based carbon dioxide removal (CDR) company, raised $20M in Series A funding.
The round, which brought the total amount to $23M, was led by Prelude Ventures and Evok Innovation, with participation from Congruent, Grantham, and Incite.
The company intends to use the funds to develop and deploy its technology, which enhances and speeds the ocean’s natural ability to capture and permanently store CO2 from the atmosphere.
Led by CEO Ben Tarbell, CTO Dr. Matt Eisaman, VP of Engineering Dave Hegeman and Chief Engineer Todd Pelman, Ebb has developed an electrochemical ocean alkalinity enhancement solution to remove atmospheric CO2 at the gigaton scale, and has already secured commitments for the purchase of carbon removal credits from Stripe. Its system is modular and is designed to be sited near any industrial source of salty water, including desalination plants, aquaculture facilities, and manufacturing or energy production facilities that circulate ocean water for cooling. The system can also process seawater directly from the ocean.
FinSMEs
20/04/2023