Canada’s Largest Innovation Hub Funds 6 Carbon Removal Startups
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📰 The quick summary: MaRS Discovery District invests in carbon credits from six Canadian startups while helping Japanese consortium M-Lab gain expertise in carbon removal investments, advancing Canada’s CDR sector and global climate action.
📈 One key stat: MaRS is supporting six Canadian CDR developers across multiple technologies including direct air capture, biomass carbon removal and storage, and ex-situ mineralization.
💬 One key quote: “Investing in carbon removal technology is no longer an option, it is now essential, and without early adopters, the industry won’t be able to scale fast enough and drive down cost,” explains Tyler Hamilton, senior director of climate at MaRS.
1️⃣ The big picture: MaRS Discovery District, Canada’s largest innovation hub, has taken a significant step to advance carbon dioxide removal (CDR) in Canada by investing in carbon credits from six promising startups. This initiative comes through a CDR prepurchase and training program conducted with M-Lab, a Japanese consortium of major industrial companies. The program not only provides crucial early funding to CDR developers but also equips M-Lab with knowledge and tools for making carbon removal investments. MaRS selected companies working across various CDR technologies, including direct air capture, biomass carbon removal, and mineralization. This builds on MaRS’ previous investments in carbon removal innovators that began in April 2024.
2️⃣ Why is this good news: Early-stage funding helps CDR companies develop and scale their technologies faster, which is essential for meeting global climate goals. The involvement of major Japanese corporations through M-Lab signals growing international interest and investment in Canadian carbon removal solutions. This collaboration creates a model for knowledge sharing between established organizations and emerging CDR companies. The diversity of supported technologies – from direct air capture to mineralization – strengthens the overall carbon removal ecosystem and increases the chances of developing effective climate solutions.
3️⃣ What’s next: The six selected companies will now work on delivering their promised carbon credits. M-Lab plans to apply its newly gained expertise to make independent carbon removal investments supporting its 2050 net zero goals. MaRS will continue supporting early-stage CDR developers while fostering connections between startups and large corporations interested in carbon removal solutions.
Read the full story here: Carbon Herald – MaRS Invests In CO2 Credits And Collaborates With M-Lab To Advance CDR In Canada
