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Carbon Removal Startup Planetary Technologies Announces $7.8M In Funding, Offer Of 3,000 Carbon Credits

Mar 17, 2022•over 3 years ago

Amount Raised

$7.8 Million

Dartmouth

Description

Today Planetary Technologies, the first climate technology company to remove carbon using direct ocean capture while creating renewable fuel and restoring ocean damage from climate change, announced it has raised $7.8 million CAD. Planetary closed pre-seed and seed funding rounds at $4.2 million and received $3.6 million CAD through grant funding. Major investors include Innovacorp and Apollo Projects. Planetary will use the funding to build pilot facilities to deploy its proprietary carbon transition technology, which speeds up the earth’s natural process of removing carbon from the air and safely storing it in the ocean, the largest natural carbon sink on earth’s surface.

Company Information

Company

Planetary Technologies

Location

Dartmouth, Nova Scotia, Canada

About

Planetary Technologies, Inc. is a carbon removal leader and innovator headquartered in Nova Scotia, Canada. Planetary’s Accelerated Carbon Transition platform is a patented process that creates effective carbon removal at a gigaton-scale and reduces emissions through a clean alternative to fossil fuels. The company’s platform results in permanently sequestered carbon through Ocean Air Capture, ocean de-acidification and clean hydrogen. Planetary is a graduate of the StartupYard accelerator by Innovacorp, the Cycle Momentum accelerator, and the Canadian Technology Accelerator, was a member for the first Carbon to Value Initiative cohort and is currently enrolled in Creative Destructions Lab’s 2022 Ocean cohort.