Planeteers, a Hamburg-based company dedicated to carbon capture and storage (CCS), has successfully secured a single-digit million seed funding round. Though the exact amount remains undisclosed, the funding marks a significant step for the company. Founded in December 2022 by Florian Birner, Frank Rattey, Jens Hartmann, and Florian Brinkmann, Planeteers aims to develop efficient and scalable solutions for CO2 removal from the atmosphere. This investment will bolster their marine carbon dioxide removal technology and speed up their market entry.
Previously similar initiatives in the CCS space have shown varying levels of success, with some companies struggling to scale their technology effectively. In contrast, Planeteers’ approach of using ocean alkalinity enhancement (OAE) has garnered notable interest for its innovative method of neutralizing CO2 with limestone. This technique is considered more sustainable and cost-effective compared to traditional carbon capture methods. The involvement of reputable investors further sets Planeteers apart, as it underscores confidence in their technology and business model.
Strategic Investment and Vision
The seed funding round saw contributions from both existing and new investors, including BonVenture, Smart Energy Innovationsfonds AG from Energy 360° AG, and ClimaNow. The funding aims to advance Planeteers’ marine CDR technology, focusing on ocean alkalinity enhancement. This will not only help scale the company’s operations but also expedite its entry into the market.
“The vision of Planeteers is a world where natural processes are used to combat climate change. This means reducing carbon emissions and actively removing them from the atmosphere, which will restore the delicate balance of our planet’s ecosystem. We were immediately impressed by this vision.”
Planeteers plans to use these funds to further develop their technology, supporting efficient CO2 removal and the production of mineralized water. An emphasis on reducing ocean acidification is a unique aspect that differentiates their approach from other CCS technologies.
Innovative Technology for Carbon Neutrality
Planeteers’ technology transforms CO2 into mineralized water by neutralizing it with limestone, which is then stored in the ocean as hydrogen carbonate. This process replicates natural reactions where atmospheric CO2 forms carbonic acid with rainwater before decomposing limestone into bicarbonate. The accelerated version of this natural process promises to neutralize and store large amounts of CO2 within minutes.
This innovative approach is based on over a decade of research and offers a scalable and cost-effective solution to carbon capture. The technology aims to mimic the natural weathering process where bicarbonate is transported to the oceans, where it can be stored for over 100,000 years. This long-term storage capability represents a significant advancement in efforts to combat climate change.
“We are thrilled to have the support of such reputable investors. This investment is a testament to the potential of our technology to make a significant impact on climate change.”
Planeteers’ vision of using natural processes to combat climate change aligns with global efforts to address carbon emissions and ocean acidification. Their innovative approach holds promise for achieving carbon neutrality and restoring the ecosystem balance. The company’s rapid progress and substantial investment demonstrate a growing recognition of the urgent need for effective climate solutions.
