Published by Todd Bush on September 14, 2023
BALTIMORE, Sept. 14, 2023 /PRNewswire/ -- Electrochemistry innovator EDAC Labs has been selected by Frontier as one of 12 companies out of 132 applicants for its latest round of carbon removal purchases.
Frontier is an advance market commitment to buy an initial $1B of carbon removal by 2030, founded by Stripe, Alphabet, Shopify, Meta, and McKinsey Sustainability. This is Frontier's third round of carbon removal purchases, valued at $7M. EDAC Labs' prepurchase agreements are with Stripe and Shopify for a total of $500,000.
>> In Other News: Yamaha Motor Continues Commitment to Reduce Carbon Footprint with Investment in Andes, a CO2 Removal Biotechnology Startup
EDAC Labs' proposed project takes advantage of its low-cost acid and base manufacturing technology to achieve carbon-negative mining. The acid is used to start the recovery of valuable metals from mine tailings, and the base is used to capture CO2 from air. The acid and base streams are then combined to extract metals that can be sold for applications such as batteries, and to create solid carbonates, which permanently store CO2.
The Frontier selection follows EDAC Labs' August 14, 2023 announcement of $3M in seed funding, led by the Grantham Foundation for the Protection of the Environment, an early-stage investor in climate-related innovations. In July, EDAC Labs was selected for the prestigious Third Derivative First Gigaton Captured Cohort 2, which included seven groundbreaking climate tech startups focused on carbon dioxide removal.
Quote from James Lavin, Founder and CEO, EDAC Labs
"To be recognized by Frontier is an important validation of our technology and value proposition. The Frontier team takes a rigorous approach and works with many climate leaders to identify practical solutions to carbon removal. We are delighted to be included."
EDAC Labs uses the electrochemical production of acid and base to decarbonize the world through conventional direct air capture, enabling carbon-negative mining, and by providing technology for other applications such as direct ocean capture, ocean alkalinity enhancement, and enhanced weathering. Learn more at www.edaclabs.com.
SOURCE EDAC Labs
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🛠️ BHP, JSW Steel To Explore Use of Carbon Capture Technology in Steelmaking 🏝️ Exxon Mobil’s Landmark Acquisition for Offshore CO2 Capture: A Big Step Toward Carbon Reduction 🚗 ...
Inside this Issue 🌊 ExxonMobil Secures Largest CO2 Offshore Storage Site in the U.S. 🌱 Toyota Showcases Technology Developments Towards a Sustainable Future 💰 DOE's $29M Investment: Advancing Carb...
Inside this Issue 🌍 Scaling Up Carbon Dioxide Storagee to Achieve a Net-Zero Future 💰 Colorado School of Mines and Carbon TerraVault Secure $8.9 Million for CarbonSAFE Project 🤝 Rushnu Signs Two A...
SunHydrogen on Track for 1m² Pilot Demonstration of its Green Hydrogen Panels
CORALVILLE, IA, Oct. 21, 2024 (GLOBE NEWSWIRE) -- SunHydrogen, Inc. (OTCQB: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today shared an...
ST. CLOUD, Minn., Oct. 21, 2024 (GLOBE NEWSWIRE) -- NFI Group Inc. (TSX: NFI, OTC: NFYEF, TSX: NFI.DB), a leading independent bus and coach manufacturer and a leader in zero-emission electric mobil...
BESS $350 million + agreement to provide flexible, grid-scale energy storage, advancing renewable energy generation and enhancing the stability of the New South Wales power grid Energy Vault conti...
Vale and Petrobras Sign Agreement to Supply Products Focused on Decarbonization
Vale and Petrobras announced on Friday the signing of a Strategic Alliance Agreement to supply products with a focus on competitiveness and advancing the decarbonization agenda. This agreement, whi...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.