Project Vesta announces $1.6M grant from Additional Ventures

SAN FRANCISCO, March 16, 2021 /PRNewswire/ -- Project Vesta is excited to announce that Additional Ventures has made a grant of $1.6M in December of 2020, supporting our mission to remove carbon dioxide from the atmosphere. This generous donation will accelerate our progress in advancing the science of coastal enhanced weathering (CEW). "We need to fund solutions which have massive potential," said Mike Schroepfer of Additional Ventures. "We are impressed by the potential scale of CEW to accelerate a natural carbon removal process."

Project Vesta is currently engaged in Phase 1 of its scientific research roadmap, which involves laboratory and field studies designed to measure the ability of olivine sand to safely remove CO2 from the atmosphere when placed in coastal waters.

"This grant has given us the confidence to expand our scientific team and move forward with key experiments," commented Tom Green, Executive Director of Project Vesta. "We now have multiple laboratory studies starting up, and an incredible field team in place laying the groundwork for our first beach pilot."

Project Vesta continues to raise funds to continue to complete its comprehensive scientific program, a rigorous and careful approach designed to understand if and how CEW can be safely scaled. The current outstanding fundraise need is for $17M.

To keep up to date on Project Vesta's progress, sign up for Project Vesta's newsletter here. If you are interested in donating, supporting the project, or just , learning more, contact Project Vesta on their website.

About Project Vesta:  Project Vesta is a non-profit working to galvanize the science of coastal enhanced weathering through accelerating one of  the earth's natural processes of carbon sequestration, the carbonate–silicate cycle. This works by spreading olivine sand in coastal areas, where it removes CO2 from the atmosphere. Project Vesta is bringing 30 years of science to be tested in the real world - harnessing the power of the ocean to permanently sequester carbon - at under $20 per ton at scale.

About Additional Ventures: Additional Ventures is helping shape a healthier, more equitable world. We are a purpose-driven organization leveraging evidence-based research and deep subject matter expertise to make an outsized impact. Our relentless optimism powers bold, high-risk innovations to solve some of humanity's most complex challenges.

SOURCE Project Vesta

Related Links

https://www.projectvesta.org