Singapore's sovereign wealth fund Temasek has led the latest funding round for climate tech firm Living Carbon, which aims to increase the carbon-absorbing ability of trees, the startup's chief executive told Reuters.
and venture firms Lowercarbon Capital and Felicis Ventures, and takes total funding raised to date to $36 million.
While the chief focus for many is on protecting existing forests and re-planting those that have been cut down, Living Carbon aims to tweak trees' genetic code so that they grow more quickly, lock more carbon away and are more resilient. "We're focusing not just on increasing the rate of carbon capture, but also preventing it from decomposing and returning back to the atmosphere," she added.
Living Carbon said it planned to use the money raised to produce up to five million saplings and fund research into new products, despite opposition from campaigners over potential unintended consequences of genetically tweaking trees.that among the biggest concerns is the "unpredictable, uncontrollable and irreversible nature" of the impact, given tree pollen and seeds could not be contained.
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