Carbon Ridge Raises $9.5 Million for Maritime Carbon Capture Technology

Carbon Ridge, a cleantech startup focused on maritime decarbonization, has secured $9.5 million in funding to advance its innovative carbon capture technology for the shipping industry. The new capital will support the commercialization of the company’s onboard carbon capture & storage (OCCS) solution, which aims to help reduce greenhouse gas (GHG) emissions from maritime shipping—a sector responsible for about 3% of global emissions.

Founded in 2021, Carbon Ridge operates out of California and Texas, specializing in compact, efficient carbon capture systems designed for vessel exhaust funnels. Its OCCS technology separates CO₂ from exhaust gases, compresses it, and stores it in liquid form until offloading for permanent sequestration or other uses. This process also reduces particulate, NOx, and SOx emissions by over 99.9%, offering a fivefold cost advantage compared to alternative fuels like methanol and ammonia.

Carbon Ridge’s CEO and founder, Chase Dwyer, highlighted the strategic importance of onboard carbon capture as alternative clean fuels face supply and cost constraints. He emphasized that the company’s modular design and low-cost solution represent a viable path for the maritime sector to achieve current and future decarbonization goals.

The funding round, led by Crosscut Ventures and Western Technology Investment, included investments from the Grantham Foundation, Rusheen Capital Management, and Plug and Play Ventures, among others. Crosscut Ventures' Managing Director Rick Smith praised Carbon Ridge’s “world-class management” and noted the company’s potential to nearly eliminate emissions from large maritime vessels, directly addressing a major source of anthropogenic carbon emissions.

As the shipping industry intensifies its decarbonization efforts, Carbon Ridge’s technology offers a scalable, low-energy solution that promises both environmental benefits and cost savings.