Gigablue signs landmark marine carbon removal deal with SkiesFifty

In a significant advancement for the carbon removal sector, Gigablue, co-founded by Ori Shaashua, has recently signed the largest marine carbon dioxide removal (mCDR) deal to date with SkiesFifty, a company focused on aviation sustainability. This landmark agreement emerged shortly after a detailed discussion with Shaashua, who serves as the Chief Commercial Officer at Gigablue, about the innovative mCDR solutions the company has developed and their ambitions moving forward.

Gigablue consists of four co-founders, each bringing diverse expertise to the company. Shaashua, with a strong background in artificial intelligence, oversees the data platform that optimises deployment strategies. His co-founders include Dotan, a specialist in research and development, Sapir, an oceanographer and environmentalist, and Guy, an operations expert with previous experience in carbon dioxide removal through forestry.

The mCDR technology developed by Gigablue aims to address challenges in the carbon dioxide removal market, particularly focusing on affordability and scalability. According to Shaashua, the company recognised that while the market had transitioned from low permanence to high permanence sequestration, the financial viability of these solutions was a pressing concern. He pointed out the necessity of creating a solution that would not financially burden companies seeking to decarbonise.

Central to Gigablue’s approach is a substrate that emulates natural processes. Shaashua explained that the design is inspired by phytoplankton, which photosynthesises on the ocean surface before sinking into sediments. He noted, "We went for a super simple approach," seeking to replicate nature's ability to remove approximately 50 to 60 gigatons of CO2 annually, yet recognising that only about 1% of that carbon makes it to the ocean's sediments for long-term sequestration. The innovative substrate engages environmental factors to export carbon from the photic zone to the ocean sediment in a measurable and controlled manner. Currently, this technology is being deployed offshore New Zealand, capitalising on what Shaashua describes as “real estate that costs nothing” due to the vast expanse of the open ocean.

A key aspect of ensuring the effectiveness and safety of this new technology involves collaboration with independent researchers from the National Institute of Water and Atmosphere of New Zealand (NIWA). Their involvement not only lends credibility but allows for rigorous measurement alongside Gigablue’s efforts, enhancing transparency in the verification process.

Looking ahead, Shaashua indicated that while New Zealand is the current focus, Gigablue aims to expand to markets in Japan, the United States, and South America. However, navigating the regulatory landscape remains a challenge. Shaashua expressed concerns about the slow pace of regulatory developments in the voluntary carbon market (VCM), stating, "The regulators are moving at a super slow pace," and emphasised the need for clearer rules to foster market growth.

As a result, Gigablue plans to scale its operations and continue developing high-volume transactions in the near future. Shaashua remained optimistic about tackling the potential challenges that lie ahead in scaling production and operations, affirming that they are “workable”. He emphasised the need for the marine carbon dioxide removal industry to gain momentum, asserting that it is essential for addressing climate change effectively.

Shaashua concluded the conversation by expressing gratitude towards SkiesFifty and articulating hope that their recent deal would set a precedent in the carbon removal industry, allowing for greater volumes of transactions to become standard practice in combating climate change.

Source: Noah Wire Services