As per ESG Today, California and Texas-based Carbon Ridge was founded in 2021 with the goal to develop onboard carbon capture solutions for the shipping industry. The company's system is mounted to the funnels of ships, capturing the exhaust gases and removing the carbon dioxide from the compound. The CO2 is then sent to specialized containers, where it's compressed and liquified for storage purposes and it can also be used to the production of sustainable goods.

Maritime shipping currently accounts for 3% of the world's total carbon footprint and its decarbonization is a great point of interest for the companies that look to cut Scope 3 emissions.

Carbon Ridge officials say that the company's solution also reduces particulate emissions by as much as 99.9%, eliminating the need to use alternative fuels, such as ammonia and methanol.

Chase Dwyer, Founder & CEO of Carbon Ridge, said that "Onboard Carbon Capture is critical for the global maritime industry to decarbonize. Carbon Ridge has developed the most modular, low cost and operationally efficient carbon capture solution in the market to address current and future decarbonization targets."