New $100M Fund Propeller Boosts Ocean Carbon Removal

New $100M Fund Propeller Boosts Ocean Carbon Removal - Carbon Herald
Credit: shchehlov serhii | Shutterstock

Ocean carbon removal just received a boost from a climate tech fund that wants to invest in ocean-based science and technology solutions. Propeller is a $100 million fund founded in 2022 that wants to support entrepreneurs looking to address the climate crisis by advancing ocean carbon removal tech.

Propeller is co-founded by former HubSpot CEO Brian Halligan and includes a team of world-class leadership.

Relevant: SeaCure Secures $3.5M Grant To Build A Pilot Plant For Ocean Carbon Removal

It will aim to invest in the so-called ocean carbon or companies developing ocean carbon dioxide removal and blue carbon methodologies and technologies for measurement, reporting, and verification. 

Other areas include ocean organics comprised of entities discovering innovative uses of marine organics like algae and microbes for novel energy, packaging, pharmaceutical applications, etc. and ocean industrials – startups decarbonizing or improving efficiency in maritime industries like shipping, wave energy, offshore wind, and desalination.

Propeller also offers a novel Ocean MBA Program, a three-day intensive course taught and designed by its leadership team and members of its network. It’s designed to empower early-stage founders in the ocean space with the skills they need to lead and rapidly grow their ventures.  

Relevant: New UN-Endorsed Center Will Aid World Oceans’ Health

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