MaRS Discovery District, the largest innovation hub in Canada that is also a registered charity, has invested in carbon credits from six Canadian startups, providing them with crucial initial funding to stimulate their growth in the future.
During the past six months, MaRS led a carbon dioxide removal (CDR) prepurchase and training program, with participation from Japanese consortium M-Lab, made up of leading industrial names like Mitsubishi Corporation (Americas), ENEOS Americas Inc., Mitsubishi Research Institute, Inc., Tokio Marine Holdings Inc., and Yazaki Innovations, Inc.
Through this effort, MaRS was able to enrich M-Lab with knowledge on carbon credit purchases, along with tools and strategies that the consortium can use to start making its own carbon removal investments as it works towards reaching 2050 net zero goals.
Driven by the mission of providing early-stage support to carbon removal developers in Canada, MaRS has been investing in innovators from this field since April 2024.
Back then, the charity and tech hub pre-purchased carbon credits from five Canadian ventures through its Mission from MaRS program.
Keeping in line with this commitment, this year, MaRS chose to pre-purchase credits from six new CDR developers that operate across a range of different technologies, including direct air capture (DAC), biomass carbon removal and storage, and ex-situ mineralization.
The six companies that will deliver the carbon credits are NULIFE GreenTech, Skyrenu, Exterra Carbon Solutions, TerraFixing, CarbonRun, and Arca.
Tyler Hamilton, senior director of climate at MaRS, explains, “Investing in carbon removal technology is no longer an option, it is now essential, and without early adopters, the industry won’t be able to scale fast enough and drive down cost.”
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He goes on to add that, on its end, MaRS is well-equipped to educate and partner with corporations, helping them make informed, impactful investments that will result in real climate action.
Reina Ozaki, manager, strategic partnership and business development at Mitsubishi Corporation (Americas)’ Silicon Valley Branch, stated, “We’ve emerged from this partnership with MaRS with the know-how to begin making our own purchases in the future.”
