Running Tide announced today that it has signed an agreement with tech giant Microsoft for the removal of 12,000 tons of C02e (carbon dioxide equivalent). With this the ocean health startup becomes Microsoft’s first supplier for such technology, which could be an important part of toolking for CO2 removal.
The approach Running Tide is developing relies on a combination of photosynthesis and alkalinity enhancements that allow the CO2 to be moved from the fast carbon cycle (which involves the atmosphere and biosphere) to the slow carbon cycle in the deep ocean, where geologic processes allow the gas to be stored for longer periods.
“This agreement represents a joint investment in an abundant future: both in removing a significant amount of carbon while restoring ocean health for future generations,” said Running Tide CEO Marty Odlin.”
For Microsoft, this carbon removal purchase supports its commitment of being carbon negative by 2030, while aiding the company’s work to help scale the carbon removal market.
“Running Tide’s dedication towards continued improvements in ocean-based MRV systems aligns with Microsoft’s pursuit of innovative CDR projects, and we look forward to Running Tide’s further development of the ocean-based carbon removal space,” said Phillip Goodman, director, Carbon Removal Portfolio, Microsoft.
Microsoft will also lend its expertise to Running Tide as one of the most prominent carbon removal buyers at this time. The partnership will involve “stage gates,” that require development and testing, so that the necessary quality is achieved before launch.
With each stage of achieving higher trust in the MRV of the system, additional purchases will be activated, providing incentives for Running Tide to prioritize this aspect.
Running Tide has also been busy working on the quality of the carbon credits it’s issuing. Several weeks ago the company announced it will be working with auditing company Deloitte, who have just launched a decarbonization SaaS (software as a service).