LONDON, UK: A company that aims to remove carbon from the atmosphere by using kelp has teamed up with one of the biggest organic seaweed farms in North America. Cellular Goods (LSE: CBX), through its subsidiary King Tide Carbon Canada Ltd., has signed a preliminary deal with Springtide Seaweed LLC, based in Maine, to create a joint venture for developing carbon capture services through sustainable kelp farming.
The joint venture will leverage the expertise of Springtide Seaweed, which grows, harvests and sells various kinds of kelp and also provides technology and support to other seaweed farmers around the world. The partners will work together to select the best kelp species and methods to maximise the amount of carbon they can store and remove from the air.
The deal will last for two years, during which Springtide Seaweed will grow and harvest kelp for King Tide, either by itself or with other local farmers, in Maine. The parties hope to finalise a long-term agreement soon.
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