What's Happening?
Frontier, a carbon removal clearinghouse founded by major companies including Google and Shopify, has announced a $31.2 million investment in geoengineering startup Planetary. The deal involves purchasing 115,208 metric tons of carbon removal credits through ocean alkalinity enhancement, marking Frontier's first venture into this method. Planetary uses magnesium hydroxide, commonly found in antacids, to increase ocean alkalinity, which helps counteract the effects of ocean acidification caused by carbon dioxide absorption. This process aims to restore the ocean's pH levels, which have become 30% more acidic since the industrial revolution.
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Why It's Important?
Ocean alkalinity enhancement represents a promising approach to mitigating climate change by addressing ocean acidification, which threatens marine life such as coral and shellfish. By investing in this technology, Frontier is supporting innovative solutions that could significantly reduce atmospheric carbon dioxide levels. This initiative not only aids in preserving marine ecosystems but also contributes to global efforts to combat climate change. The success of this project could pave the way for broader adoption of ocean-based carbon removal strategies, potentially removing over 1 billion metric tons of carbon dioxide annually.
What's Next?
Planetary plans to expand its operations, with current projects in Nova Scotia and Virginia. As the technology develops, the cost of carbon removal is expected to decrease, making it more accessible for widespread implementation. Continued investment and research in ocean alkalinity enhancement could lead to scalable solutions for global carbon reduction. Stakeholders, including environmental organizations and policymakers, may closely monitor the outcomes of these projects to assess their viability and impact.
