Formed three years ago, Gigablue says it has designed particles that when released in the ocean will trap carbon at the bottom of the sea. Gigablue says its work will do nothing less than save the planet.
But outside scientists frustrated by the lack of information released by the company say serious questions remain about whether the technology works as the company describes. Their questions showcase tensions in an industry built on little regulation and big promises.
Here are highlights from media’ reporting:
Gigablue, founded by a group of entrepreneurs in Israel, was originally named “Gigaton” after the one billion metric tons of carbon dioxide most scientists say will be necessary to remove from the atmosphere each year to slow global warming.
The company began trials in the South Pacific Ocean last year, and says it will work with country authorities to create a “sequestration field” — a dedicated part of the ocean where “pulses” of particles will be released on a seasonal basis.
The company announced earlier this year that it reached a historic milestone: selling 200,000 carbon credits. It’s the largest sale to date for a climate startup operating in the ocean, according to the tracking site CDR.fyi, making up more than half of all ocean-based carbon credits sold last year.
Carbon credits, which have grown in popularity over the last decade, are tokens that symbolize the removal of one metric ton of carbon dioxide from the atmosphere. On paper, companies that buy credits achieve a smaller carbon footprint without needing to reduce their own emissions — for instance, by paying another vendor to plant trees or capture carbon dioxide from the air.
Only a few countries have required local industries to purchase carbon credits. Most companies that buy them do so voluntarily.
The credits have helped fund a band of startups like Gigablue that are eager to tackle the climate crisis, but they are also unevenly regulated, scientifically complex, and have in some cases been linked to fraud.
Gigablue’s 200,000 credits are pledged to SkiesFifty, a newly formed company investing in greener practices for the aviation industry.
Gigablue wouldn’t reveal what it earned in the sale, and SkiesFifty’s team declined to be interviewed. Most credits are sold for a few hundred dollars each — but a chart on Gigablue’s website suggests its prices are lower than almost any other form of carbon capture on the market.
The particles Gigablue has patented are meant to capture carbon in the ocean by floating for a number of days and growing algae, before sinking rapidly to the ocean floor.
Algae has long been attractive to climate scientists because it absorbs carbon dioxide from the surrounding water as it grows. If the algae sinks to the deep sea or ocean floor, Gigablue expects the carbon to be trapped there for hundreds to thousands of years.
The ultimate goal is to lower carbon dioxide levels so drastically that the ocean rebalances with the atmosphere by soaking up more CO2 from the air. It’s a feat that would help slow climate change, but one that is still under active study by climate scientists.
While Gigablue has made several commercial deals, it has not yet revealed what its particles are made of. Partly this is because the company says it will build different particles tailored to different seasons and areas of the ocean.
