Carbon Ridge, a company that develops modular onboard CO2 capture and storage solutions, has raised $6 million in funding in a round led by Grantham Foundation for the Protection of the Environment.
Additional investors include Crowley, Berge Bulk, Rusheen Capital Management and Plug and Play Ventures. The financing coming from the climate and maritime companies will allow Carbon Ridge to continue to develop the company’s onboard CO2 capture and storage solutions for a pilot project in 2023.
LA, California-based Carbon Ridge provides a low-cost solution to bring down CO2 and other emissions from commercial shipping by up to 95%.
Read more: Value Maritime Set To Make 100% Onboard Carbon Capture A Reality
