A thousand tons of CO2 will be removed from the atmosphere and stored in marine waters, counteracting global warming and sea acidification, thanks to the agreement signed by the Italian company Limenet, a startup that has developed an innovative technology that allows the capture of CO2 from the air and its transformation into calcium bicarbonates, thus allowing the production of negative CO2 and KlimaDAO emissions, U.S. platform active in the voluntary carbon credit market. The latter has in fact purchased an advance on production for one thousand tons of CO2 that will be produced by Limenet by mid-2025 and commits to reselling them exclusively on the carbon credits market through the Carbonmark platform.
KlimaDAO is an autonomous and decentralized community with over 100 thousand members that aims to support the development of carbon markets by financing high-impact projects and providing a public and open source market infrastructure. KlimaDAO is one of the main proponents of the market for “tokenized” environmental commodities, i.e. digitally represented on a blockchain: launched in 2021, it has facilitated the tokenization and trading of more than 25 million carbon credits to date and has enabled the financing of carbon dioxide emission reduction projects worth $2 million. Through the agreement with Limenet, KlimaDAO intends to position itself among the first companies operating in the “Carbon Capture, Utilisation and Storage” market by tokenizing and trading high-quality assets related to carbon dioxide removal projects in a market context that today lacks liquidity.
KlimaDAO’s official partner for the sale of Limenet’s thousand credits will be Carbonmark, a platform that serves as a gateway to carbon credit markets, which will allow users to purchase and withdraw these credits via the platform and its suite of APIs, which allows any organization to automatically obtain high-integrity carbon credits.
Plants in La Spezia and Sicily
For Limenet , this transaction, which it concluded thanks also to the support of Aither, a company operating in the sustainability market and investor in the company, represents an opportunity to consolidate its technology on the market, after carrying out a pilot project in La Spezia in which 150 kg of negative CO2 emissions had already been produced at the beginning of 2023. Today, Limenet will scale up its technology by building a plant in Augusta, Sicily, capable of removing about 4,000 tons of CO2 annually. Subsequently, through the standardization of a 100,000-ton plant, the company intends to raise capital to build a series of plants capable of absorbing hundreds of thousands of tons of carbon dioxide per year.
“After years of research and experiments, we have achieved very satisfactory results with the validation of our technology through a pilot plant. We are now starting to play our part in the great game of decarbonization, developing on a large scale a technology that allows us to remove and store large quantities of carbon dioxide and giving companies the opportunity to offset, through the marketing of carbon credits, emissions that cannot be reduced. This agreement is proof that the market also believes in our technological solutions. We will start work on the storage of the first tons of CO2 as early as this spring in Augusta, Sicily,” said Stefano Cappello, CEO & founder of Limenet.
“I am very pleased that our company may have created an important opportunity for Limenet at an early stage of their development. This agreement marks a significant step in the development of carbon capture technologies and reinforces KlimaDAO’s commitment to bringing liquidity to sustainable solutions in this market. By facilitating the first direct tokenization of carbon capture from the air, we foster the development of a liquid carbon credit market and improve the alkalinity of the seas. Blockchain technology will track where these credits come from, dMRV data will be viewable on-chain, and markets will be accessible 24/7. We are setting a new standard for environmental assets on a global scale. Our partnership with Limenet exemplifies our dedication to investing in high-impact projects that deliver tangible and lasting benefits for our planet. Together, we are demonstrating the power of collaboration in facilitating efficient markets for environmental commodities,” says Scott Michael Kilduff JR., head of policy, KlimaDAO.
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