atdepth MRV is Changing the Tide of Carbon Removal Verification
Written by Ryan Green
atdepth MRV co-founder, Carlos Muñoz Royo, pitches at SeaAheads 4th Innovation in Offshore Wind Event at The Exchange located in Boston's Seaport District on November 29th, 2023.
In the ocean, monitoring and modeling can be pricey, complex, and inaccurate. One team in BlueSwell Cohort IV has decided to try to change that. atdepth was born out of hard work and fate, say Carlos Muñoz Royo and Raphael Ouillon, two of the three founders. From a chance meeting in an MIT lab to starting a company with their cofounder Professor Tom Peacock, this dynamic duo has set out on a mission to change how we monitor and model human interactions with the ocean.
atdepth MRV implements cutting-edge simulation techniques to bring measurement, verification, and reporting (MRV) to carbon credit buyers. Recently, atdepth MRV was awarded more than $2.5 million from the Advanced Research Projects Agency-Energy (ARPA-E) to further develop their ocean modeling system. However, challenges are bound to arise in a nascent industry such as this one. We sat down with Muñoz Royo and Ouillion, to discuss how they navigate these new waters.
What is the problem atdepth MRV set out to solve?
Muñoz Royo: Monitoring in the ocean is expensive and sparse, and current modeling technologies are slow and require a lot of computational resources. We saw a gap there. And we happened to be there at the right time and place, as new ocean modeling tools developed at MIT presented an opportunity to fill that gap. We wanted to figure out how to quantify what happens around human activities and interventions in the ocean.
Ouillon: And this would not have been technologically feasible a year ago. Emerging industries are looking at the ocean, but many need help growing because it's tough to quantify things there. We saw an opportunity to bring these technologies to the industry in a scalable and cost-effective way.
How was atdepth MRV born?
Muñoz Royo: From my side, I studied naval architecture back in Spain, where I'm originally from. I came to MIT for a two-year master's in ocean engineering, which ended up turning into a Ph.D. because I was having fun working with Tom Peacock and Raphael and what we were working on had great potential for impact. It was a natural process of, okay, now we've made this progress on the scientific side of things, how do we make sure this makes its way into the industry? You may be doing pretty useful, exciting things when you're in academia. However, in most cases, this ends up in a paper that only a few people read.
How do your backgrounds lend to your work with atdepth MRV?
Muñoz Royo: I came from field studies in the deep, abyssal plains in the Pacific Ocean, deploying instrumentation there and working on very collaborative projects, so definitely not the typical PhD path.
Ouillon: I came from the world of numerical simulations and computer modeling. Carlos had more fieldwork experience and knowledge of ocean physics. We had to put that together and make it work. So, taking that to industry was a natural next step for us. Our first venture was a small consulting business that ran for about two and a half years. The consulting business was exciting. We understood a lot about what folks in the industry are looking for and what their needs are. This was eye-opening for us – good science and technology weren't enough to have a real impact. You also needed to bring a compelling value proposition to the industry, so that was a huge learning experience.
Tell us more about the projected future of atdepth MRV:
Muñoz Royo: Right now, we aim to finish the development of the models along with their validation and implementation. We recently were awarded a $2.6M grant from ARPA-E to support our development and validation efforts and bring our simulation system to the next level. We want to be there to quantify and build a market for carbon removal in the ocean that is trustworthy and maintains its integrity in the long term. Many companies want to sell carbon credits but must be able to quantify with high certainty how much carbon has been effectively removed from the atmosphere before putting the carbon credits on the market.. Our technology also has applications beyond carbon removal, from offshore wind to aquaculture, biodiversity restoration or impact assessment, so we are also exploring very interesting project opportunities in the broader blue economy sector to help accelerate innovation.
What are some challenges you've faced?
Ouillon: We are focused on the marine carbon dioxide removal industry, which is a very nascent industry. Things are happening and moving quickly, but the industry is noisy because people have different views of where the industry should go and how things should be set up. This is a risk in the development of this industry. Navigating this complex and evolving landscape is a big challenge.
Muños Royo: By having our eyes on the long term, we want to not only provide value now to the industry but we need to think about how to continue providing it ten years from now.
How has BlueSwell helped you along your journey?
Muños Royo: BlueSwell has been a valuable resource that quickly points us in the right direction with much more confidence than we would have otherwise. That external sounding board helps us make decisions faster. The feedback and additional support have been great, especially from the mentors and experts, as well as connections to the bluetech ecosystem in Boston and Rhode Island. I’ve gone into meetings not knowing what to expect that ended up being game changers for our company or the angle we’re giving to your business model and technology. I would also highlight the support and expertise from the team at the New England Aquarium, which is a very unique resource that has opened many doors to us.
Riding off the success of the first half of the BlueSwell program and the momentum generated by their recent ARPA-E award, atdepth MRV is on track to become a key player and leader in the growing marine carbon removal industry. We look forward to celebrating with them at BlueSwell’s Demo Day in March 2024.
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To learn more about atdepth MRV: https://www.atdepthmrv.com/
ABOUT BLUESWELL:
BlueSwell, a partnership between SeaAhead and the New England Aquarium, takes a whole-ocean approach to fighting climate change and advancing the blue economy. The program focuses on bridging gaps between innovators, ocean experts, industries, and the venture community. BlueSwell leverages SeaAhead’s bluetech domain expertise, network, and experience in building companies, and the Aquarium’s 50-plus year history of using marine science to protect the ocean and marine animals to ultimately convert ocean-focused concepts into profitable, sustainable businesses.
To learn more about BlueSwell, click here.