Ebb Carbon - an ocean-based carbon dioxide removal (CDR) company founded by former Tesla, SolarCity, and Google X executives - has raised a $20 million Series A to develop and deploy its technology, which enhances and speeds the ocean's natural ability to capture and permanently store CO2 from the atmosphere. This is the largest investment to date in an ocean-based carbon dioxide removal technology.

The $20 million Series A was raised across two closes, led by Prelude Ventures and Evok Innovations, respectively. The second close was completed at an increased valuation at the end of March. This adds to a previous seed funding round of $3 million, bringing the total raised to date to $23 million. Other investors in Ebb include Congruent, Grantham, and Incite.

Ebb Carbon is pioneering a new carbon removal solution by enhancing the ocean's natural ability to safely store CO2. Their electrochemical ocean alkalinity enhancement method has the potential to be one of the largest scale and lowest cost approaches to removing excess CO2, while reducing ocean acidity.