When you talk about scaling up, what is the limit?
There are 2 million semitruck trucks on the road in the US They create about 340 million metric tons of carbon dioxide every year, which is just crazy. And that’s, that’s 5 percent of the entire US carbon footprint is just semitruck trucks, which is just wild. So we have an opportunity to capture tens of millions of tons of carbon dioxide every year.
Is there potential to move beyond semitrucks with the emission capture? For example, is this a solution for reducing emissions from flights?
We want to stay laser-focused on doing one thing well first, but this technology, I think, would be great for other long-haul, heavy duty vehicles. You know, locomotives come to mind. Cargo ships, mining, haul trucks.
Airplanes would be really challenging. The airplanes are very finely tuned to carry the amount of weight that they have onboard.
Investors have been attracted to Remora.
We were very oversubscribed on our seed round, which we raised in April. We raised about $ 5.5 million dollars. And so we ended up unfortunately having to turn some folks away.
I hear over and over again how important it is to keep engineering talent in Michigan, and to develop these types of jobs here. So how would you describe what Remora is offering the state in that respect?
One of the really exciting things here is that we are keeping engineers in Michigan. We’re going to be creating hundreds of engineering jobs over the next couple of years, if not even into the thousands.
And not only is it creating engineering jobs, but it’s helping decarbonize a really hard-to-decarbonize segment in the automotive capital of the world. This is where a lot of these engines and trucks get built. We’re using the talent of these amazing engineers to help tackle the climate crisis.
Semitrucks do not face emissions standards, but the EPA is exploring how commercial trucks and buses may fit into upcoming regulations. Does that drive your business goals?
What we’ve been hearing again and again from the big fleets we’re working with is that this is a moral obligation to anyone living in this moment. We’re in a crisis, and if we do not do something, it’s going to get a lot worse.
Secondly, their shareholders are pushing them to do something.
And thirdly, you know, in every request or proposal that they’re getting from their customers they are asking, “What are you doing to reduce carbon emissions?”