Dutch startup SeaO2, which captures ocean carbon for storage or reuse, has received €2 million (USD$2.15 million) in investments. The company will use the funding to transition from prototype to a pilot plant with an annual capacity of 250 tons of CO2.
Founded in 2021, SeaO2 hopes to launch the plant in 2025. Funding will also go to enhancing team capabilities and implementing a comprehensive monitoring, reporting, and verification system.
The ocean is the world’s largest carbon sink, absorbing some 30% of CO2 produced since the Industrial Revolution. CO2 is acidic, contributing to ocean acidification which can have profound effects, such as making it more difficult for organisms such as corals, mollusks and some plankton to build and maintain their structural integrity. The ocean’s natural system for balancing its pH involves the weathering of rocks, which takes place over long periods of time.
SeaO2 uses an electric current to separate seawater into acids and bases. Then the base, or alkaline water, is returned to the ocean while the acidic water is put into a larger stream of water where the CO2 is removed using a vacuum. The resulting alkaline water is returned to the ocean.
The CO2 collected by SeaO2 can be stored permanently by sequestering it in underground geological formations, by mineralizing it into concrete or using it as feedstock for alternative fuels. The company said it would partner with European-based storage parties to store its first tons of removed CO2, and will offer high-quality carbon credits. The company aims to remove one megaton of CO2 by 2030 and a gigaton by 2045.
Investors who participated in the round include DOEN Participaties, NEW-TTT fund, Future Tech Ventures, and CarbonFix participated in the round with, angel investors Eduard Talman and Siddharth Kambe and others.
“With this extra support, which so far included grants, subsidies, our own investments, and early customers, we can scale our operations and accelerate our impact on climate change even more rapidly,” said Ruben Brands, CEO and Co-founder of SeaO2.
