How the Next Big Thing in Carbon Removal Sunk Without a Trace

The article chronicles the rise and fall of Running Tide, a US climate startup that aimed to combat climate change by removing carbon from the atmosphere through ocean-based methods. Founded by Marty Odlin, the company initially proposed deploying floating “micro forests” of seaweed on biodegradable buoys that would eventually sink, sequestering carbon deep in the ocean. This vision attracted significant investment, including a $54 million Series B funding round led by Lowercarbon Capital. Running Tide promised to create jobs in the Icelandic town of Akranes and capitalize on the booming carbon credit market driven by tech companies’ growing emissions. However, within less than a year, Running Tide’s approach shifted dramatically to dumping chemically treated Canadian wood chips off Iceland’s coast—a method criticized by ocean-carbon experts as scientifically unsound and potentially harmful to marine ecosystems. The company’s operations likely violated maritime laws and failed to demonstrably remove atmospheric carbon. By late 2024, Running Tide had collapsed: its founder disappeared, employees were gone,