A New VC Fund Will Put $100 Million into Decarbonizing the Ocean
Boston-based Propeller is looking for “narwhals”: billion-dollar startups developing marine technology that can help solve the climate crisis.
Rather than unicorns, Propeller is pursuing “narwhals” — companies developing game-changing ocean technology.
NOAAA new $100 million venture fund is teaming up with one of the world’s leading marine research institutes to invest exclusively in ocean technologies that can help solve the climate crisis.
Boston-based Propeller will focus on startups developing tech to remove carbon dioxide from the ocean, decarbonize shipping and improve efficiency in marine industries, among other innovations. The firm will also invest in companies looking to tap ocean microbes and other organisms to produce energy, pharmaceuticals and other products.