Carbon Ridge, a leading developer of modular onboard carbon capture & storage solutions (OCCS) for decarbonizing the maritime industry, today announced the Company has raised $6M in funding led by the Grantham Foundation for the Protection of the Environment, with additional investment from Crowley, a leading U.S.-based shipping and logistics company, and Berge Bulk, one of the world's largest dry bulk owners, as well as Rusheen Capital Management and Plug and Play Ventures. The financing enables Carbon Ridge to continue development of the Company's OCCS technology for an onboard pilot in 2023.
Carbon Ridge is a leading developer of carbon capture & storage solutions for the maritime industry. Carbon Ridge's OCCS technology provides a low-cost and near-term solution to reduce carbon dioxide and other greenhouse gases emissions from commercial shipping by up to 95%. Carbon Ridge's technology allows for non-disruptive integration to vessel exhaust systems, enables up to a 75% reduction in process equipment size and volume in comparison to conventional CCS technologies, and is designed for the rigor of commercial maritime operations. In addition to its onboard OCCS technology, Carbon Ridge provides end-to-end solutions including CO2 transportation, sequestration, and credit monetization.
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