A Portland, Maine startup that aims to store millions of tons of planet-warming carbon deep in the ocean, is expanding to Iceland.
Those include Jim Barry, a deep-sea ecologist at the Monterey Bay Aquarium Research Institute.Barry says Running Tide has been responsive to the group's concerns about upending ocean ecosystems. With novel carbon-removal companies springing up around the world, he says there are tough choices ahead over how to balance environmental degradation against the threat of global warming."I think we need to think about these things and Running Tide is doing that.
"The carbon market for this is going to happen. I worry that groups like Running Tide might be, in a sense, chained to their funding source and they're conflicted because they want to do the right thing but at the same time they're trying to make money off of it. There's some difficult choices there," Barry says.committed a half million dollars
"There are open questions for Running Tide and for most of the other companies that we are funding, and that is what we expect," she says. She says Stripe will buy another half million dollars worth of Running Tide credits only if it can produce data on ecosystem effects and verifiable CO2 removal.
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