Planetary Technologies, a leader in ocean-based climate solutions, announced it has completed its Series A funding round, raising $11.35 million. The round was led by Evok Innovations and included new investors BDC Capital, Amplify Capital, and DNX Ventures. And these funds will support Planetary’s mission to enhance the ocean’s natural ability to fight climate change through carbon removal and storage.
Planetary Technologies utilizes ocean alkalinity enhancement (OAE) to remove carbon dioxide from the atmosphere. And roughly 25% of carbon dioxide emissions dissolve into the ocean, increasing acidity. And Planetary’s process restores coastal environments, helping the ocean remove carbon more efficiently. This method mimics natural processes that have regulated atmospheric carbon dioxide for millions of years.
This new funding round will enable Planetary to expand pilot projects, scale operations, and further demonstrate the safety and effectiveness of its technology. And the company will continue collaborating with local communities, academic institutions, and regulatory bodies to ensure its solutions are both scientifically sound and sustainable.
KEY QUOTES:
“We’re most excited by the strong alignment that these investors have with our mission. This round enables us to continue leading the way on responsible, science-led development of a critical climate technology. Together, we are building a foundation that will allow us to achieve our vision of protecting and restoring both the ocean and climate for generations.”
-Mike Kelland, CEO of Planetary Technologies
“Evok Innovations is pleased to support Planetary Technologies in their mission to combat climate change through ocean-based solutions. Planetary’s approach, rooted in science and community engagement, represents a significant step toward enhancing marine remediation & natural carbon removal processes. Evok values the Planetary team’s commitment to innovation and collaboration with local stakeholders, researchers and academic institutions, and we are excited to support their continued growth. We anticipate meaningful advancements in the near future, both for the company’s core business, and for marine carbon removal as a broader industry that will benefit from Planetary’s work.”
-Jane Kearns, Partner at Evok Innovations
