July 9

Deals With Microsoft, Shopify and Stripe Fail to Keep Carbon Removal Startup Alive

Running Tide, a carbon removal startup that signed 25 customers including Microsoft, Shopify and Stripe, is shutting down after failing to secure more financial backing.

The announcement by CEO Martin Odlin in a June 14 post on LinkedIn came just three months after Running Tide touted a successful trial that sequestered 21,000 metric tons of carbon dioxide in biomass sunk deep in the Icelandic ocean. Its early customers received offset credits for that work.

Photo courtesy of Jonathan Kriz.

Source: GreenBiz (link opens in a new window)

climate change, corporations, decarbonization, failure, innovation, startups