Ocean CO2 mitigation company, Planetary Technologies, has delivered 138 net tons of what it calls Ocean Alkalinity Enhancement (OAE) credits to Shopify and Stripe.
Founded in 2019, Planetary Technologies tackles the problem of the ocean acidification by helping to restore the ocean’s pH to its normal levels. The ocean absorbs 30% of CO2 emissions, making it the planet’s largest carbon sink. CO2 is acidic, causing the pH the ocean to change and threatening the health of the ocean and all that lives in it. The ocean’s natural processes for restoring alkalinity–mostly through weathering of rocks–take a geological age. Planetary Technologies partners with suppliers of antacids produced with a low carbon footprint to put into the ocean and restore alkalinity. The company said it selects antacids that are used extensively in wastewater and aquaculture and are naturally abundant in seawater.
Planetary has been working in Halifax Harbour and said it has generated a total of 138 net tons of OAE credits from carbon removal. The credits were delivered to the advance market commitment group Frontier, with allocations to Shopify (96 tons) and Stripe (42 tons) under a 2023 pre-purchase agreement. The company, which recently received more than $11 million in investments, partnered with Nova Scotia Power and was supported by Carbon To Sea, as well as a wide range of supplier partners, operational partners, academic institutions, and communities.
“Delivering the first net OAE credits is a monumental step, not only for Planetary but for the entire field of ocean-based carbon removal,” said Planetary Technologies CEO Mike Kelland. “Thanks to our pioneering partners, we’re advancing the science and scalability of this technology to meet global climate goals.”
Planetary said its ocean alkalinity enhancement solution operates on coastlines and in tandem with existing infrastructure, such as power plants and water treatment facilities, to safely remove carbon dioxide from the atmosphere.
