Duck, NC, July 17, 2024 – Vesta, a Public Benefit Corporation with the mission to remove carbon dioxide pollution while making coastlines more resilient, announced today that it has placed 8,200 metric tons of carbon-removing olivine sand off the coast of Duck, North Carolina. The project is a significant step in developing its Coastal Carbon Capture^TM approach.

Coastal Carbon Capture accelerates one of the Earth’s natural carbon removal processes. Vesta places carbon-removing sand in coastal waters. The sand, made from the abundant natural mineral olivine, gradually dissolves, reducing harmful seawater acidity for marine ecosystems and enhancing the oceans’ natural capacity to draw down and permanently store carbon dioxide. Carbon-removing sand could also have the added benefits of mitigating coastal erosion and reducing the costs of coastal protection projects.

Vesta estimates the small scale pilot project will remove approximately 5,000 metric tons of carbon dioxide after accounting for project emissions, making it one of the world’s largest operational permanent carbon removal pilot projects.

“With this landmark pilot project, Vesta continues to be a worldwide leader in responsible research and development of one the most promising carbon dioxide removal methods,” said Tom Green, co-founder and CEO of Vesta. “We are thrilled that the Duck community is now at the forefront of developing an approach that could help protect coastal communities worldwide from rising sea levels while addressing the root cause of climate change. We see the potential to deliver carbon removal for under $100 / ton by the end of the decade while reducing the cost of sand for communities facing spiraling coastal protection costs.”

Vesta is the first company to receive permits for a standalone ocean-based carbon removal pilot. The required permits were granted by North Carolina’s Department of Environmental Quality and the United States Army Corps of Engineers. Vesta consulted extensively with the local community in Duck from the earliest stages of planning the project and designed it to ensure it is safe for the local environment. Vesta was assisted in the design, permitting, and execution of the project by Coastal Protection Engineering. Data management to streamline measurement, reporting, and verification of carbon removal will be led by Alcove, the only supplier-first, cloud-based platform for carbon dioxide removal project data, operations, and compliance.

Investors in the project include Elemental Excelerator, a nonprofit investor focused on scaling climate technology for deep community impact. Elemental’s investment supported project development and community engagement. Elemental also awarded a grant to Vesta, in partnership with East Carolina and the UNC Coastal Studies Institute, to survey local citizens on their perceptions toward carbon removal.

“This milestone is a huge step forward for ocean-based carbon dioxide removal technology,” said Danya Hakeem, Elemental Excelerator Vice President of Portfolio. “Elemental is proud to invest in projects like this one in Duck that could result in so many direct benefits for both coastal communities and the planet as a whole.” 

Hourglass Climate, an independent nonprofit research organization, will lead the three-year monitoring program, along with researchers at the Coastal Studies Institute and the University of North Carolina Wilmington. The extensive monitoring program will collect data on water quality, ecological effects, and carbon removal.  The findings will be published in peer-reviewed scientific journals and made available to the public.

Vesta has also completed the first closing of its Series A financing, led by the Grantham Trust’s Neglected Climate Opportunities program.

“We have always prioritized robust science and community engagement,” Green continued. “We’re proud to double down on our commitment to transparency by working with Hourglass Climate, which will independently monitor and publish the results from this project.” 

Ocean-based carbon dioxide removal continues to show promise and garner attention from leaders in the scientific and government communities. Last year, more than 400 scientists joined together to call for more responsible field trials on ocean-based carbon dioxide removal. Last year, the White House announced a new Fast-Track Action Committee on Marine Carbon Dioxide Removal. Recently, the Department of Energy and the National Oceanic and Atmospheric Administration signed a memorandum of agreement to coordinate research of these approaches, recognizing that “mCDR may become a major form of operational carbon removal with the potential for other environmental and societal co-benefits”

About Vesta

Vesta, PBC is an ocean-based carbon dioxide removal company using olivine sand to enhance the ocean’s ability to remove carbon dioxide from the atmosphere while providing cheaper sand to coastal communities to help fight coastal erosion. Vesta’s Coastal Carbon Capture reduces harmful seawater acidity, adds sand to coastal systems with the goal of providing physical coastal protection, and increases ocean alkalinity to permanently remove carbon dioxide from the atmosphere.

Since its founding in 2019, Vesta has conducted multiple studies to investigate the safety and efficacy of Coastal Carbon Capture. Vesta has pilot projects underway in Southampton, NY and Duck, NC. Vesta works closely with coastal communities and independent scientists to ensure that Coastal Carbon Capture is conducted with thorough community engagement and independent scientific analysis.

Vesta is funded, among others, by Grantham Trust’s Neglected Climate Opportunities LLC, Prime Impact Fund, and Carbonfix. Vesta expects to complete fundraising for its Series A financing in August. For more information, visit www.vesta.earth. 

Media Contact

Zach Cockrum, zach@vesta.earth 

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