Rewind, a biomass carbon removal and storage (BiCRS) company, has raised $5 million (€4.6 million) in seed funding, to deploy its unique carbon dioxide removal method.
The company said it maximises the Black Sea's natural ability to permanently store carbon dioxide.
The Black Sea has an anoxic seabed, meaning there is virtually no oxygen present at its deepest levels. Without oxygen, organic matter — like plants — can be preserved, storing away CO2 that would have been released into the atmosphere, added Rewind.
Bodies of water like rivers carry megatons of organic carbon into the Black Sea annually, where it slowly sinks and rests, unaltered, on the seafloor, it continued.
Rewind said it expedites and amplifies this process by transporting agriculture and forestry residue to the bottom of the Black Sea, an untapped carbon dioxide repository big enough to hold most of humanity’s emissions.
This process is not limited to the Black Sea and can be repeated in any large, anoxic body of water, the organisation went on to say.
“The effects of climate change have already begun and we must act quickly to avoid the worst effects for current and future generations,” said Ram Amar, CEO of Rewind. “
At Rewind, we sought the most pragmatic carbon removal solution scalable to a gigaton from our location in the Middle East. We are optimistic about the outcomes of our carbon removal efforts and consider both our funding and new customer a monumental step toward a global scale CDR solution.”
Rewind raises $5m for “unique” Black Sea carbon dioxide removal method
