The startup Gigablue announced with fanfare this year that it reached a historic milestone: selling 200,000 carbon credits to fund what it describes as a groundbreaking technology in the fight against climate change.
An Israeli startup says its new technology will save the planet. Scientists have doubts
The startup Gigablue announced with fanfare this year that it reached a historic milestone: selling 200,000 carbon credits to fund what it describes as a groundbreaking technology in the fight against climate change.
Formed three years ago by a group of entrepreneurs in Israel, the company says it has designed particles that when released in the ocean will trap carbon at the bottom of the sea. By “harnessing the power of nature,” Gigablue says, its work will do nothing less than save the planet.
But outside scientists frustrated by the lack of information released by the company say serious questions remain about whether Gigablue’s technology works as the company describes. Their questions showcase tensions in an industry built on little regulation and big promises – and a tantalizing chance to profit.
Jimmy Pallas, an event organizer based in Italy, struck a deal with Gigablue last year. He said he trusts the company does what it has promised him – ensuring the transportation, meals, and electricity of a recent 1,000-person event will be offset by particles in the ocean.