SkiesFifty, Gigablue, and RAIN agree to strategic partnership to revolutionize ocean-based carbon removal
Farnborough, England –July 23, 2024 – Today, SkiesFifty, RAIN and Gigablue announced that they have agreed to a strategic partnership to revolutionize ocean-based carbon removal. This collaboration aims to scale up Gigablue's groundbreaking carbon removal system, increase awareness of the innovative technology, and manage distribution of the carbon credits it generates within the aviation and other hard-to-abate industries.
Carbon removals are a critical part of the world’s endeavors to reach net zero. IATA estimates that by 2050 removals alone will account for 20% of the aviation sector’s abatement efforts. Gigablue is a pioneer in large scale, safe and effective ocean-based carbon removal. Their unique system combines biogeochemistry and AI optimization to safely export carbon to the deep ocean using an engineered substrate with a controlled-sinking mechanism.The result is a carbon sequestration solution that stores carbon for hundreds to thousands of years, is environmentally safe and can scale widely and affordably. Gigablue’s groundbreaking technology also facilitates the provision of ecologically safe, highly durable and economically viable carbon removals for corporations and governments.
SkiesFifty, an investment company dedicated to aviation sustainability, brings deep expertise and a vast network of contacts in the aviation, sustainability, energy, and chemicals sectors. They recently announced an investment partnership with Boeing, leading the Series B capital raise round for SAF innovator Firefly, and the intention to make an investment in their debut fund by Amadeus. In this partnership with Gigablue, SkiesFifty will work closely with the financiers at RAIN, who incubated SkiesFifty, to leverage RAIN’s investing experience and relationships in the financial services and technology industries. Together, the teams will be able to accelerate the adoption of high-quality, high-permanence carbon credits and ensure environmentally safe, financially sustainable carbon offtake and offset solutions across various industries.
“We are thrilled to partner with RAIN and SkiesFifty, whose expertise and networks will be instrumental in helping various industries, and notably the aviation industry, achieve its decarbonization goals. With their support, we can accelerate the adoption of Gigablue’s environmentally safe and financially sustainable carbon capture technology, ensuring impactful carbon removals for airlines striving to reach net zero.” said Ori Shaashua, Co-founder and Chief Business Officer of Gigablue.
“Carbon removals are a critical part of the decarbonization story, and Gigablue has one of the most effective, scalable and sustainable carbon capture solutions we have seen to date,” said Krishnan Narayanan, the COO of RAIN and a Founding Partner at SkiesFifty. “We are delighted to bring the combined experience of RAIN and SkiesFifty to bear to support Gigablue's mission to secure our planet's future.”
This collaboration comes at a critical juncture for global climate action. With increasing legislative mandates and the urgent need for effective decarbonization solutions, this partnership represents a significant step forward in addressing the climate crisis. By leveraging Gigablue’s advanced technology, SkiesFifty’s industry expertise, and RAIN’s financial acumen, the alliance aims to achieve substantial progress in reducing atmospheric CO₂ levels.
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GIGABLUE. Gigablue offers a deep science-based solution to combat climate change while helping corporations and countries reach their net-zero goals. Their pioneering marine carbon dioxide removal (mCDR) system focuses on the effective export of CO2 to the deep ocean. Deployed geo-specific engineered substrates sink rapidly and predictably, ensuring long-term carbon storage for hundreds to thousands of years. Utilizing in-situ sampling and precise measurement techniques to obtain ground-truth evidence of sequestered carbon, Gigablue provides reliable and safe CDR. By collaborating with research institutions and environmental communities, Gigablue is dedicated to deliver substantial benefits for both the planet and its inhabitants. www.gigablue.co
SKIESFIFTY. SkiesFifty is a global investment company with the dual objectives of accelerating aviation's journey towards net-zero emissions while generating attractive returns for its investment partners. These include corporates from aviation, chemicals and other heavy industry and financial institutions. Incubated by the financiers at RAIN and launched earlier in 2024, it is led by a unique mix of senior professionals from the worlds of aviation, sustainability, energy and investing. Its investment strategies focus on sustainable aviation fuel, carbon removals, alternative propulsion, ground operations greening, and materials recycling. www.skiesfifty.com
RAIN. The RAIN Foundation LBG brings new financial products, business solutions and investment to the venture industry to create value from new opportunities and special situations. Its diverse client base includes startups and growth companies, venture investors and vehicles, enterprise buyers and entrepreneurs. The focus is on new capital and liquidity solutions, hybrid and entrepreneur-led investments, as well as risk transfer and business growth products. Founded in 2022, the firm is headquartered in London. www.raincommunity.com
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