A UK startup is looking at ways of raising funds to help its mission to refreeze Arctic sea ice and help slow global warming.
Real Ice, which began as a volunteer initiative and is now a nascent tech company, has set its sights on tackling one of the most daunting challenges posed by climate change: the melting Arctic sea ice.
The startup, which was officially turned into a formal company in 2021, is based on technology dubbed 'AquaFreeze' that is poised to enter a critical phase of testing in harsh Arctic conditions before eventually eyeing restoration of Arctic Sea ice on a large scale, according to its website.
As Wales-based Real Ice prepares for this pivotal stage, funding emerges as a key focus, according to a report on startups website Sifted.
The company's journey began as a feature in the Hyundai x UNDP's 'For Tomorrow' initiative and the technology harnesses underwater drones, powered by hydrogen, which create openings in the ice and spray water onto the surface to increase the thickness and longevity of the ice.
Real Ice's team of engineers, operators, and climate scientists, backed by leading Arctic research and sea ice experts, are on the cusp of initiating these trials, it says.
The company is exploring various avenues to secure the necessary capital, the Sifted report revealed, with one potential source being 'cooling credits', akin to carbon credits but measuring the cooling impact of environmental interventions, and another being to tap into the burgeoning interest in green and sustainable investments.