Carbon Ridge, a Los Angeles, CA-based developer of modular onboard carbon capture & storage solutions, raised $6M in funding.
The round was led by Grantham Foundation with additional investment from Crowley, Berge Bulk, Rusheen Capital Management and Plug and Play Ventures.
The company intends to use the funds to continue the development of its OCCS technology for an onboard pilot in 2023.
Led by CEO Chase Dwyer, Carbon Ridge is a developer of carbon capture & storage solutions for the maritime industry. Its 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%. The technology allows for integration to vessel exhaust systems, enables reduction in process equipment size and volume in comparison to conventional CCS technologies, and is designed for commercial maritime operations.
FinSMEs
23/09/2022