Crbon Labs Inc. (Accelerator)

Company Description: Crbon Labs Inc. is located in Calgary, Alberta, Canada and was founded in November 2021 by former oil and gas industry executives. Crbon Labs accelerates the decarbonization of the energy grid by acquiring super high GHG intensity oil and gas wells, decommissioning them, restoring the land to its original state and make carbon credits for sale to corporate and consumers. Crbon Labs is a company that makes Climate Change Impact by converting oil and gas liabilities to carbon assets. Crbon Labs recognizes that the world needs carbon reduction now. The North American energy industry emits over 500 million tonnes of CO2e per year while over 70% of its emissions come from less than 10% of its production. The solution is to lower the intensity of the fuel life cycle by shutting down super high intensity production. World carbon credit sales will grow 100x, while carbon market value will grow over 400x by 2050. Crbon Labs is working with a Calgary based producer to acquire a prototype well with an option on 100 additional wells emitting over 100,000 tonnes of CO2e. The company has established two carbon credit pathways to market, and received Alberta Energy Regulator approval to hold well licenses. The have assembled a world class team to make carbon credits from closing the wells.