A growing industry is betting on the ocean to capture carbon

illuminem summarises for you the essential news of the day. Read the full piece on Euronews or enjoy below:

🗞️ Driving the news: Planetary Technologies is testing ocean-based carbon capture by adding alkaline minerals into Canadian coastal waters, aiming to enhance the ocean’s ability to absorb carbon dioxide
• The project, supported by Elon Musk’s foundation, is part of a broader, fast-expanding industry exploring marine carbon removal solutions
• However, critics warn of ecological risks and regulatory gaps, sparking intense public debate

🔭 The context: Planetary’s method involves releasing magnesium oxide into seawater, transforming CO₂ into stable forms
• Similar initiatives include seaweed farming and sinking organic material into deep waters
• Nearly 50 field trials have been conducted globally in the past four years, with startups competing for funding and scaling ambitions

🌍 Why it matters for the planet: Ocean carbon removal is viewed as a crucial supplement to emissions cuts, given current trajectories
• It offers potential long-term CO₂ sequestration without land-use impacts
• Yet, large-scale deployment risks unintended harm to marine ecosystems

⏭️ What's next: Planetary plans to expand trials in Virginia and Vancouver, while seeking closer sourcing of minerals to reduce its carbon footprint
• The outcome of the $50 million XPRIZE competition in April may significantly influence the sector’s future
• Broader policy decisions, especially in the US under shifting climate agendas, will also be pivotal

💬 One quote: “We cannot study this solution at the same rate that we’ve been studying the problems,” – Will Burt, Chief Ocean Scientist at Planetary Technologies

📈 One stat: Marine carbon credit sales surged from 2,000 in 2019 to over 340,000 in 2024, though still a fraction of needed global removal levels

See here detailed sustainability performance of companies like MF Shipping Group, Ocean Infinity and Capsol Technologies ASA 

Click for more news covering the latest on carbon capture and storage