Planetary Technologies, a pioneering climate technology firm, has successfully raised $11.35 million in a Series A funding round aimed at accelerating its carbon dioxide removal initiatives. The round was spearheaded by Evok Innovations and saw participation from a range of prominent investors, including BDC Capital, Amplify Capital, DNX Ventures, and Iconiq Capital. This financial backing is designed to bolster Planetary's mission of enhancing the ocean's natural capabilities to combat climate change.

Strengthening Commitment to Ocean-Based Carbon Solutions

Mike Kelland, CEO of Planetary Technologies, expressed enthusiasm about the alignment of the new investors with the company's mission. He stated, "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."

Planetary Technologies is focused on leveraging ocean alkalinity enhancement as a means to remove atmospheric carbon dioxide. A significant portion of the CO2 released into the atmosphere—approximately 25%—is absorbed by the ocean, contributing to increased acidity levels. The process employed by Planetary converts excess CO2 in seawater into bicarbonates, thereby reducing ocean acidity and enhancing the ocean's ability to sequester carbon. This approach not only mimics natural processes that have regulated atmospheric CO2 for millions of years but also accelerates them.

Scaling Operations and Community Engagement

The recently acquired funding will allow Planetary to expand its successful pilot projects and gradually scale its operations. This growth is essential for demonstrating the safety and effectiveness of its innovative technology. Importantly, the company remains committed to working closely with local communities, academic institutions, and regulatory bodies to ensure that its solutions are scientifically robust, sustainable, and community-focused.

Jane Kearns, a partner at Evok Innovations, emphasized the significance of supporting Planetary Technologies in their endeavor to address climate change through ocean-based strategies. Kearns remarked, "Planetary's approach, rooted in science and community engagement, represents a significant step toward enhancing marine remediation and natural carbon removal processes." She praised the company's commitment to innovation and collaboration with various stakeholders, which she believes will lead to meaningful advancements in both the company's business and the broader marine carbon removal sector.

The Broader Impact of Ocean Alkalinity Enhancement

Planetary Technologies' innovative method not only addresses climate change but also has the potential to improve marine health by mitigating ocean acidification. As the effects of climate change continue to escalate, the need for effective carbon removal solutions has become increasingly urgent. The company's approach not only aids in reducing atmospheric CO2 levels but also restores acidified coastal environments, fostering a healthier marine ecosystem.

As the global demand for carbon removal technologies grows, Planetary Technologies is positioned at the forefront of this emerging industry. Recent estimates suggest that the carbon removal market could exceed $8 billion by 2027, driven by increasing data breaches, regulatory requirements, cloud migration, and heightened awareness of data privacy issues. The emphasis on carbon removal is expected to increase as organizations prioritize data security and environmental sustainability.

With the successful completion of its Series A funding, Planetary Technologies is well-equipped to advance its mission of enhancing the ocean's natural ability to combat climate change. The commitment from both new and existing investors underscores the belief in Planetary's innovative approach to carbon removal and ocean restoration. As the company embarks on this exciting phase of growth, it aims to not only improve data security but also contribute meaningfully to the broader fight against climate change, ensuring a cleaner, safer future for all.