Planetary Technologies, a pioneering company focused on ocean-based climate solutions, has successfully secured $11.35 million in Series A funding.
Led by Evok Innovations, the funding round also includes participation from BDC Capital, Amplify Capital, and DNX Ventures.
This significant investment will empower Planetary Technologies to accelerate its mission of harnessing the ocean’s natural capacity to combat climate change through carbon removal and storage.
Planetary Technologies leverages a process known as ocean alkalinity enhancement (OAE) to reduce atmospheric carbon dioxide levels.
Approximately 25% of human-generated CO2 emissions are absorbed by the ocean, leading to increased acidity.
By restoring coastal environments, Planetary’s technology enhances the ocean’s ability to absorb carbon dioxide more efficiently. This approach mirrors natural processes that have regulated atmospheric CO2 levels for millennia.
Relevant: New Report From EA Confirms The Safety Of Planetary’s Ocean Carbon Removal Approach
The newly acquired funds will enable Planetary Technologies to expand its pilot projects, scale operations, and rigorously demonstrate the safety and effectiveness of its technology.
The company remains committed to collaborating with local communities, academic institutions, and regulatory bodies to ensure its solutions are both scientifically sound and environmentally sustainable.
Mike Kelland, CEO of Planetary Technologies, stated: “We’re most excited by the strong alignment that these investors have with our mission. This round enables us to continue leading the way on responsible, science-led development of a critical climate technology.”
“Together, we are building a foundation that will allow us to achieve our vision of protecting and restoring both the ocean and climate for generations,” Kelland said.
Jane Kearns, Partner at Evok Innovations, also commented: “Planetary’s approach, rooted in science and community engagement, represents a significant step toward enhancing marine remediation & natural carbon removal processes.”
“Evok values the Planetary team’s commitment to innovation and collaboration with local stakeholders, researchers and academic institutions, and we are excited to support their continued growth. We anticipate meaningful advancements in the near future, both for the company’s core business, and for marine carbon removal as a broader industry that will benefit from Planetary’s work.”
