Ocean Cleanup pilots ‘the first scalable technology’ to remove plastic waste from Earth's waters

2022-06-11 00:13:29 By : Ms. vivian li

Each year, 8 million tons of plastic — the equivalent of a garbage truck load every minute — is dumped into the ocean, according to the World Economic Forum.

The Ocean Cleanup, a nonprofit engineering environmental organization based in the Netherlands, is attempting to remove as much of that plastic as is feasible.

“Our strategy is really twofold,” The Ocean Cleanup CEO and Founder Boyan Slat said on Yahoo Finance Live (video above). “On one hand, stop the source, preventing more plastic from going into the oceans and rivers. But at the same time, there's already a lot of legacy plastic in the ocean, especially this Great Pacific Garbage Patch between Hawaii and California. It's massive and it doesn't go away by itself. So we have to clean that up.”

The Ocean Cleanup has deployed three interceptors in rivers in Indonesia, Malaysia, and the Dominican Republic to keep plastic from entering oceans. The solar-powered barrier and conveyor system uses river currents to funnel plastic into containers that can be brought back to land and sorted through.

The ultimate aim is to develop “the first scalable technology” to remove plastic from Earth's waters, Slat said.

Ocean Cleanup is targeting garbage patches, which are areas where circulating ocean currents amass plastic in large concentrations.

Because most plastics don't break down for hundreds of years, the debris accumulates over time.

The most prominent garbage patch, the Great Pacific Garbage Patch, is estimated to contain 79,000 tons of plastic across an area of over half a million square miles. The detritus is primarily made up of microplastics, which the National Ocean Service defines as "small plastic pieces less than five millimeters long which can be harmful to our ocean and aquatic life."

Ocean Cleanup's approach draws inspiration from the natural world — and coastlines, in particular.

“If you look at coastlines, coastlines are actually very effective ways of catching plastic,” Slat said. “If you see it on the beach, it's out of the ocean, stays out of the ocean."

That gave Slat and his team members the idea of building coastlines in the middle of the ocean.

"Basically, we've developed very long, floating barriers that we drag through the patch," he said. "And it catches and then concentrates the plastic before we can take it out."

In 2019, Ocean Cleanup recalled its first system, nicknamed 'Wilson', to repair and iterate on its design. Since then, the nonprofit has continued to make adjustments and even launched its latest prototype, System 002 or 'Jenny', in July 2021.

“If everything goes well, in a few weeks from now we hope to see a system completely filled with plastic,” Slat said. “And if that works, then we can with confidence say that the technology works and we can scale this up.”

The nonprofit is also looking for ways to automate and clean up how its ocean vessels are powered. Slat noted the difficulty of cleaning up plastic in the oceans without using fossil fuels.

“Batteries are just not good enough for that yet,” he said. “We do use fuels, but at the same time, we're experimenting with low carbon biofuels. And all the rest of the emissions will be offset, so the cleanup will be carbon neutral.”

Since it was founded in 2013, Ocean Cleanup boasts a number of notable backers, including Maersk (MAERSK) and a recent partnership with Coca-Cola (KO).

Regarding the partnership with Coca-Cola, which was rated the world's top plastic polluter in 2020, Slat said “there's two ways to look at it.”

One way, he said, is to look at it from a greenwashing lens, in which Coca-Cola appears to virtuously help with the plastic problem while continuing to pollute waters with plastic bottles and other packaging.

“But the way I look at it is that it's a pragmatic way to scale this up,” Slat continued. “Companies like Coca-Cola, they don't want the ocean to be polluted with plastic. So by allowing them to solve this problem by cleaning out their own waste — I think if anyone should be paying for this clean up, it's companies like Coca-Cola.”

Grace is an assistant editor for Yahoo Finance and a UX writer for Yahoo products.

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, YouTube, and reddit

Neither the bear market nor the stock split will have a lasting effect on this company's long-term potential.

Bridgewater’s co–chief investment officer said the U.S. economy could slow down further.

In a key win for the embattled biotech, bluebird bio Inc. has scored two endorsements in as many days from an advisory committee to the U.S. Food and Drug Administration.

For the second time in three years, Tesla will split its stock, lowering its price and increasing the number of shares outstanding.

(Bloomberg) -- Former Treasury Secretary Lawrence Summers said the Federal Reserve has failed to account for its mistakes and to realize the damage to its credibility after the latest inflation data dashed hopes that a peak had been reached.Most Read from BloombergUS Lifts Covid-19 Test Requirement for International TravelUS Inflation Quickens to 40-Year High, Pressuring Fed and BidenEating Two Portions of Fish Per Week Linked to Deadly Skin CancerFive Key Moments From the Jan. 6 Capitol Riot He

In this article, we discuss the 15 best penny stocks to invest in. If you want to skip our analysis of these stocks, go directly to the 5 Best Penny Stocks To Invest In. The US equity market has been volatile since the start of 2022. The Dow 30 Index extended an eight-week consecutive losing […]

Shares of several major bank stocks took a hit today after new data showed that inflation is still surging and may not have peaked yet. The Dow Jones Industrial Average had lost more than 650 points as of this writing while the Nasdaq Composite was down close to 3%. Shares of Citigroup (NYSE: C) traded 4.3% lower as of 2:25 p.m. ET today, shares of JPMorgan Chase (NYSE: JPM) were 4.2% lower, and shares of Goldman Sachs (NYSE: GS) were down 4.8%.

The Facebook parent’s lawyers have been investigating outgoing COO Sheryl Sandberg’s use of corporate resources for personal projects going back several years, people familiar with the matter say.

LOS ANGELES (Reuters) -U.S. President Joe Biden on Friday accused the U.S. oil industry, and Exxon Mobil Corp in particular, of capitalizing on a supply shortage to fatten profits after a report showed inflation surging to a new 40-year record. Biden, who came into office vowing to reduce U.S. dependence on fossil fuels, said on Friday he was hoping to speed up oil production, which is expected to hit record highs in the United States next year. But he also issued a warning to the industry, whose profits have jumped with oil and gas prices, pointing to the gains as evidence consumers are paying for more than higher labor and shipping costs.

The U.S. hasn't yet entered a recession -- which is officially defined as two consecutive quarters of negative GDP growth -- but runaway inflation, stagnant wages, food shortages, rising interest rates, and geopolitical turmoil could all break this fragile economy's back in the near future. If that happens, growth stocks will fall further as value stocks become even more attractive. Altria is the top tobacco company in America.

Los Angeles Capital CIO Hal Reynolds and Truist Chief Market Strategist Keith Lerner join Yahoo Finance Live to examine market sell-offs amid rising inflation and CPI data, defensive portfolio investing, the Fed's interest rate hike cycles, and spiking oil and gas prices.

Yahoo Finance Live’s Brian Sozzi, Brad Smith, and Julie Hyman discuss quarterly earnings for DocuSign.

Markets are volatile. Use these dividend stocks for peace of mind.

(Bloomberg) -- When the nineties ended, an overvalued stock market took three long years to rid itself of its accumulated excess in what is now known as the dot-com crash.Most Read from BloombergUS Lifts Covid-19 Test Requirement for International TravelUS Inflation Quickens to 40-Year High, Pressuring Fed and BidenEating Two Portions of Fish Per Week Linked to Deadly Skin CancerFive Key Moments From the Jan. 6 Capitol Riot HearingSony PlayStation’s New God of War Video Game Planned for November

U.S. stocks sank Friday as investors digested two downbeat prints on the U.S. economy.

Since taking the reins as CEO of Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) in 1965, Warren Buffett has put on a moneymaking clinic for Wall Street. While there are no shortage of reasons for the Oracle of Omaha's sustained success, his love of dividend stocks could be the most important component. Dividend stocks are almost always profitable and time-tested.

In this article, we discuss 10 beaten-down Asian stocks to buy today. If you want to see more stocks in this selection, click 5 Beaten-Down Asian Stocks to Buy Today. While the US dollar remains strong, Asian markets on June 10 stumbled on the back of higher rates guidance from the European Central Bank and […]

“Ball of confusion, that's what the world is today,” sang the Temptations on their 1970 classic, a sentiment which can readily apply to the stock market’s present state. It’s hard to get a grip on the market’s choppy action in 2022 and investors could use a clear signal to follow when considering a new investment. One way to get a head start is by tracking the moves of the insiders. These are the corporate officers with in-depth knowledge of the companies they helm. To keep the playing field lev

Inflation remains white-hot. These stocks can help stop the pain.

What to do in today’s market? The last few trading sessions of declining stocks would seem to indicate that the late-May rally we saw has run its course. But that doesn’t mean the opportunities for buy-minded investors are all gone. The recent declines, and the overall downward trend we’ve seen year-to-date, have left many fundamentally sound stocks trading at rock bottom prices. And that may have created an opportunity for investors willing do a bit of bottom fishing. The trick for investors, h