Israeli portfolio company, Rewind, which is scaling up now, is fighting climate change by sinking carbon into the sea. “Rewind plans to collect huge quantities of plant material and sink it to the bottom of the Black Sea, where, like the ancient ships, it could remain intact for centuries or even millennia, locking away all the carbon that would be released into the atmosphere if that biomass decomposed on land.”
Where will Rewind find the billion tons of unwanted organic material that it needs to put its plan into action? The region around the Black Sea is the heart of Europe’s breadbasket, annually producing gigatons of combined agricultural, orchard and forestry residues — in the form of wheat stalks, leaves and trimmed tree branches, according to Amar. Much of this waste is piled up and left to rot, or worse, burned, Amar said.
Rewind intends to work with countries’ agriculture and forestry industries to collect and transport biomass to the Black Sea. The company calculates the cost in emissions of doing this would be just 3 percent of what the company can sequester. And far from filling up the Black Sea, all that organic matter, Rewind estimates, would take up less than 0.1 percent of the sea’s volume.
The company is striving to sequester a gigaton per year by 2030, initially at $200 per ton of CO2, then decreasing to $80 per ton of CO2 once Rewind has optimized its supply chain, he said.
Canary Media covers all the details here.