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Planetary’s distinctive ocean-based carbon removing know-how is considered one of solely 15 winners awarded prize by prestigious panel of local weather specialists
DARTMOUTH, Nova Scotia — At the moment, Planetary Technologies was awarded the XPRIZE Carbon Elimination Milestone Award for its accelerated carbon transition platform. Planetary’s distinctive improvements leverage the planet’s means to retailer carbon as a pure part of ocean chemistry. Planetary will use the $1 million prize to attain a full-scale demonstration of its know-how. Together with eradicating and storing carbon, Planetary’s carbon removing course of additionally creates renewable gas and restores among the injury local weather change has already brought about in ocean ecosystems.
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“We’ve developed a essential software to revive our local weather and our oceans,” mentioned Planetary CEO Mike Kelland. “With XPRIZE’s validation of our know-how, we will speed up our growth to succeed in our goal scale of eradicating one gigaton of carbon yearly.”
The $100M XPRIZE Carbon Removal challenge is a four-year international competitors funded by Elon Musk and the Musk Basis that invitations groups to create and reveal options that may sequester carbon durably and sustainably. Whereas greater than 1,100 groups registered within the competitors, solely 15 had been chosen as milestone winners, and Planetary is the one one with the 4 key advantages of a carbon transition answer: carbon removing from the ambiance, inexperienced hydrogen manufacturing, mine waste clear up, and ocean restoration. The panel of over 70 skilled, unbiased judges and reviewers is internationally acknowledged throughout the fields of carbon removing, local weather innovation, power transition know-how and pure ecosystems.
“Shopify is proud to have been working with Planetary by means of our Sustainability Fund since early 2020, and as their first buyer we’re assured that their ACT Platform is a sport changer for carbon removing,” mentioned Stacy Kauk, Head of Sustainability, Shopify. “We’re excited to proceed serving to them scale their answer and assist reverse local weather change.”
Planetary’s proprietary know-how purifies mine waste into a light, unhazardous antacid which is then launched into the ocean by means of current, regulated outfalls similar to wastewater or stormwater streams the place it’s constantly monitored. When blended with seawater, the antacid restores the ocean’s pH ranges and accelerates the ocean’s pure technique of pulling carbon dioxide from the ambiance. Restoring the ocean’s stability additionally helps to reverse the injury attributable to ocean acidification ensuing from local weather change.
Because the mine waste is purified, clear hydrogen is produced as a by-product, permitting hard-to-decarbonize industries to restrict their use of fossil gas. The purification course of additionally extracts metals that can be utilized in batteries, one other essential software for a future low-carbon financial system.
Planetary plans to open pilot vegetation in Quebec, Nova Scotia, and the UK in late 2022, which is able to reveal a scaled model of its patented course of. The pilot vegetation will come on-line in phases in coordination with a serious oceans analysis undertaking and native companions to repeatedly monitor native results and fine-tune Planetary’s platform.
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Planetary’s educational analysis companions embrace the College of Miami Basico2 project, an XPRIZE Carbon Elimination Scholar Award Winner, the Plymouth Marine Lab, and Dalhousie College.
Previous to the XPRIZE award, Planetary had raised $7.8M CAD in funding and grants. Main traders embrace Innovacorp and Apollo Initiatives. Planetary is at present promoting 3,000 carbon credit with retirement dates of 2027-2029. Shopify, by means of its Sustainability Fund, was the primary purchaser of Planetary’s carbon credit.
Addressing the large problem of local weather change requires a brand new strategy – a planetary strategy that accounts for the complete carbon cycle, from accelerated rock weathering to ocean seize and storage and every step in between. The XPRIZE Carbon Elimination competitors and milestone award reveal the large potential of Planetary’s accelerated carbon transition platform – the one system designed to take away billions of tonnes of carbon from the air yearly and retailer it safely inside ocean chemistry whereas restoring land and oceans and enabling industrial decarbonization by means of inexperienced hydrogen and battery metallic manufacturing.
About Planetary Applied sciences
Planetary Applied sciences, Inc. (previously Planetary Hydrogen) is a carbon removing chief and innovator headquartered in Nova Scotia, Canada. Planetary’s Accelerated Carbon Transition platform is a patented course of that creates efficient carbon removing at a gigaton-scale and reduces emissions by means of a clear different to fossil fuels. The corporate’s platform leads to completely sequestered carbon by means of Ocean Air Seize, ocean de-acidification and clear hydrogen. Planetary, is a winner of the XPRIZE Milestone Prize, is a graduate of the StartupYard accelerator by Innovacorp, the Cycle Momentum accelerator, and the Canadian Know-how Accelerator, was a member of the primary Carbon to Worth Initiative cohort and is at present enrolled in Inventive Destructions Lab’s 2022 Ocean cohort.