Deal includes initial commitment to eliminate 1,333 metric tons of CO2
Microsoft has signed a marine carbon removal deal with Ebb Carbon.
The deal, the largest of its kind for the tech giant, will eliminate 350,000 metric tons of CO2 over the next 10 years. The agreement includes an initial commitment to remove 1,333 metric tons of CO2, with the option to remove the remaining CO2.
Ebb has partnered with Isometric and will use its MRV protocol to measure, report and verify the amounts of CO2 removed through its Ocean Alkalinity Enhancement (OAE) technology. OAE is a carbon removal method that involves adding alkalines to seawater to accelerate the ocean’s natural carbon storage.
Ebb Carbon was founded in 2020 by former executives from Tesla, SolarCity, and Google X. In April 2023, it raised $20 million in a Series A funding round to develop and deploy its technology, the largest investment to date in an ocean-based carbon dioxide removal technology.
The $20 million Series A was raised in two rounds, led by Prelude Ventures and Evok Innovations. The second close was completed at a higher valuation in late March. This is in addition to a previous seed funding round of $3 million, bringing the total raised to $23 million. Other investors in Ebb include Congruent, Grantham, and Incite.
Microsoft has signed several carbon removal deals in recent months, including three in September alone. These agreements include agreements with Lithos Carbon, Arbor, and Toroto, representing a range of different carbon removal technologies.
Microsoft aims to become carbon negative by 2030 and is pursuing this goal by signing massive renewable energy contracts to power its operations, as well as investing in carbon capture and removal projects that can offset its historical emissions.
