Crowley and Berge Bulk participated in the latest funding round for Carbon Ridge, a developer of modular onboard carbon capture and storage solutions (OCCS) for the maritime industry.
he financing will help Carbon Ridge continue development of the company’s OCCS technology for an onboard pilot in 2023.
We believe onboard carbon capture and storage will be the lowest cost and most efficient pathway to achieve near-term decarbonization in the maritime industry. We are very excited about partnering with the Grantham Foundation, Crowley and Berge Bulk, as leaders in their respective sectors, each with strong commitments to long-term climate stabilization
said Chase Dwyer, Founder and CEO of Carbon Ridge.
For Crowley, the investment is the latest as it seeks to decarbonize its maritime and business operations. Earlier this month, Crowley also emerged as an investor in hydrogen tech company Zero Emission Industries’ (ZEI) Series A funding round.
The company specializes in the design, development, and deployment of marine-specific hydrogen fuel cell power and storage systems.
For its part, Berge Bulk has also been investing in decarbonization technology within maritime. In June, the company revealed that it would install WindWings rotor sail technology on board its 2018-built Berge Olympus, a newcastlemax bulk carrier.
We believe in the potential of onboard carbon capture & storage as one of the effective solutions to enable Berge Bulk’s commitment towards zero emissions. Our partnership with Carbon Ridge is a strong step forward in achieving those goals and consistent with our broader sustainability mission
added James Marshall, CEO of Berge Bulk.