Newsletter: WOC Partners with XPRIZE, Participates in COP26
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XPRIZE & WOC Collaborate to Advance Ocean CO2 Removal
World Ocean Council and XPRIZE co-hosted a webinar this week on how ocean CO2 removal (CDR) projects can compete in the XPRIZE $100-million Carbon Removal Competition. The XPRIZE Carbon Removal team outlined requirements of the competition and participated in a Q&A with ocean entrepreneurs.
“Our objective is to try and inspire as many shapes and sizes of carbon dioxide removal technology that we can,” said XPRIZE Technical Lead Michael Leitch.
The application process involves building a working demonstration, making a case for a project’s scalability, and providing a scaled-up calculation of cost, which is the final piece that judges consider. “If teams have stepped over the first two barriers and proven to the judges that the technology works and that it’s scalable, then the solutions are going to be ranked by cost in selection of the ultimate winners,” explained Mr. Leitch.
During the webinar, CEO Paul Holthus spoke on WOC’s efforts to ensure that ocean CDR efforts to sequester CO2, and their potential effects on surrounding ecosystems, are measured: “We’re at the stage of both catalyzing a business association for the ocean CO2 removal community, and also very soon to begin convening a working group on the monitoring, reporting, verification technologies and protocols that need to be developed to support the XRPIZE process and its winners — but also that broader community and effort of ocean carbon dioxide removal.”WOC continues its work on ocean CDR through monthly Ocean Roundtables. Companies and investors interested in participating in these monthly sessions can contact info@oceancouncil.org.
The next major submission deadline for XPRIZE is Feb 1, 2022. For more info or to apply, visit the XPRIZE Foundation.
WOC Member ECOncrete secured $5 million in Series A funding, led by Impact investor Bridges Israel and new investors including Barclays. The funding will assist in expanding to new markets and scaling up existing operations.Established in 2012, ECOncrete builds coastal and marine infrastructure for breakwaters, ports and offshore structures that also acts as a base for marine ecosystems and active carbon sink.
Save the Date
WOC Participating in COP26
CEO Paul Holthus has been invited to moderate a session during the World Climate Summit – The Investment COP. This COP26 side event in Glasgow is hosted by the World Climate Foundation and will take place on November 7th.The session, Accelerating the Green Transition and Technologies through Partnerships – Best Practices from the Shipping Sector, will include a panel discussion with representatives from the International Maritime Organization, Maersk, the American Bureau of Shipping, and Kuehne & Nagel.
Meet the Newest WOC Members who have committed to leadership and action around corporate ocean responsibility.
NorkystNorkyst is an ocean-mapping service based in Norway, which conducts inshore/nearshore multibeam echo sounder, sub-bottom profiler and side-scan surveys. Its mission is to map, monitor and document changes in the coastal and nearshore environment, to help enable sustainable development and use. In a statement about the new partnership, Managing Director Roar Kvame said, “We find it incredibly important the work that World Ocean Council is doing, and Norkyst will participate to ensure sustainable development and use of the sensitive coastal environment.”
Wah KwongWah Kwong is a family-owned shipping company based in Hong Kong, with an extensive network of partnerships in Mainland China, Asia, Europe and the US. Wah Kwong owns and operates a diversified fleet of ships and provides technical and commercial management services in ship ownership and asset management. “At Wah Kwong we are encouraged by the cross-sectoral nature of the WOC membership,” said Managing Director William Fairclough. “We think shipping needs to be more involved in pretty much every debate about decarbonising the supply chain which engages with other industries, whilst remaining a bit wary of debates that only feature shipping companies, due to the dangers of creating an echo chamber. I am encouraged that WOC seems to embrace a similar philosophy.”
WOC Organizes Key Business & Investment Session at Ocean CO2 Removal Policy ConferenceCEO Paul Holthus recently chaired a session at the 1st annual carbon removal conference hosted by American University’s Institute for Carbon Removal Law and Policy. The conference theme, Exploring Ocean-Based CDR Approaches, included sessions on legal frameworks, public engagement, international regulations and case studies. View the full agenda here.Mr. Holthus moderated the panel, Ocean CDR Business and Investment: What the Law and Policy Community Needs to Know, which included representatives from SeaChange, Planetary Hydrogen, Grantham and more.
Blue Planet Economy European Maritime Forum October 7-8 | Rome & Online Keynote Speaker, Ocean Energy: Powering the Blue EconomyCMA Shipping October 13 | Stamford, CT & Online Opening Plenary Speaker, WOC UpdateWorld Biodiversity Summit October 14 | Online Panelist, The Blue Planet – Investments & Solutions for Resilient & Healthy Fresh & Sea WaterICOMIA/World Marinas Conference October 14 | Dubai & Online Closing Keynote Speaker, Sailing Towards the Future
The Global Blue Economy Business OrganizationThe WOC is the international, cross-sectoral alliance for private sector leadership, collaboration and action on ocean sustainability, stewardship, and science. Companies from a range of industries worldwide are distinguishing themselves as leaders in “Corporate Ocean Responsibility,” including shipping, oil and gas, tourism, fisheries, aquaculture, mining, renewable energy, ocean technology, and investment.
WOC Members are a part of the WOC Network of 35,000+ ocean industry stakeholders around the world.
CEO Paul Holthus has been invited to moderate a session during the World Climate Summit – The Investment COP. This COP26 side event in Glasgow is hosted by the World Climate Foundation and will take place on November 7th.The session, Accelerating the Green Transition and Technologies through Partnerships – Best Practices from the Shipping Sector, will include a panel discussion with representatives from the International Maritime Organization, Maersk, the American Bureau of Shipping, and Kuehne & Nagel.
NorkystNorkyst is an ocean-mapping service based in Norway, which conducts inshore/nearshore multibeam echo sounder, sub-bottom profiler and side-scan surveys. Its mission is to map, monitor and document changes in the coastal and nearshore environment, to help enable sustainable development and use. In a statement about the new partnership, Managing Director Roar Kvame said, “We find it incredibly important the work that World Ocean Council is doing, and Norkyst will participate to ensure sustainable development and use of the sensitive coastal environment.”
Wah KwongWah Kwong is a family-owned shipping company based in Hong Kong, with an extensive network of partnerships in Mainland China, Asia, Europe and the US. Wah Kwong owns and operates a diversified fleet of ships and provides technical and commercial management services in ship ownership and asset management. “At Wah Kwong we are encouraged by the cross-sectoral nature of the WOC membership,” said Managing Director William Fairclough. “We think shipping needs to be more involved in pretty much every debate about decarbonising the supply chain which engages with other industries, whilst remaining a bit wary of debates that only feature shipping companies, due to the dangers of creating an echo chamber. I am encouraged that WOC seems to embrace a similar philosophy.”
WOC Organizes Key Business & Investment Session at Ocean CO2 Removal Policy ConferenceCEO Paul Holthus recently chaired a session at the 1st annual carbon removal conference hosted by American University’s Institute for Carbon Removal Law and Policy. The conference theme, Exploring Ocean-Based CDR Approaches, included sessions on legal frameworks, public engagement, international regulations and case studies. View the full agenda here.Mr. Holthus moderated the panel, Ocean CDR Business and Investment: What the Law and Policy Community Needs to Know, which included representatives from SeaChange, Planetary Hydrogen, Grantham and more.
