CarbonBlue and CTRL-S Take Over SeaO2's Direct Ocean Capture Assets and IP After Bankruptcy
carbonherald.comSeaO2, the Netherlands-based direct ocean capture startup that declared bankruptcy earlier this year, is having its work split between two companies. CarbonBlue is taking over the assets, while CTRL-S is acquiring the intellectual property. Co-founder Ruben Brands confirmed the move, saying the technology and know-how will now have a chance to move forward under new ownership. SeaO2 had raised over $2 million to develop an electrochemical process that uses renewable electricity to extract CO2 directly from seawater. The company still could not close its next funding round in time, a familiar problem for carbon dioxide removal developers. The deal means the DOC pilot and patents survive, even if the original company does not. For anyone tracking ocean-based CDR, this is a useful example of how distressed climate tech assets get rescued. It also highlights how the funding gap remains the biggest obstacle for early-stage removal companies.