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ClimateWells

ClimateWells tackles methane emissions from aging oil wells by facilitating early decommissioning of low-production oilfields. We generate verified carbon credits, offering genuine climate benefits and improved local air quality, with the potential to eliminate over 1.5 billion tons of CO2 emissions annually.
2021
1-10
Kyoto, Kyoto, Japan
  • Oil & Gas
  • Renewable
  • Waste Management

Innovation

Industry Problem

ClimateWells tackles the problem of excessive methane emissions from ageing, low-production oil wells that contribute disproportionately to climate change. They address the challenge of reducing these emissions without disrupting the overall energy supply.

R&D Focus

ClimateWells focuses its Research and Development on methane emissions reduction from marginal oil and gas wells. Their niche segment is early decommissioning of low-production oilfields to create verified carbon credits, targeting significant methane emission cuts while supporting local community benefits.

Innovative Solution

ClimateWells solves methane emissions by incentivising oil and gas operators to shut down low-production, high-emission marginal wells earlier than planned. This early decommissioning permanently eliminates methane emissions at the source, generating verified carbon credits that deliver genuine climate benefits and improve local air quality and community health, without compromising overall energy supply.

Solution Effectiveness

Decommissioning marginal oil and gas wells through ClimateWells’ approach could eliminate over 1.5 billion tons of CO2 emissions annually, equivalent to the combined impact of electrifying every car in the U.S., installing solar panels on every American home, and doubling U.S. wind energy production. Additionally, marginal wells produce less than 5% of oil but account for over 50% of all oilfield methane emissions, making this solution highly targeted and effective.

Investment Funding

Last Funding Stage

Seed

Startup Stage

Pre-Seed

Lead Investors

Peterson Ventures

People

Founders

CEO

Products

Product

– Oil Climate Index (OCI+) – A tool developed by the Rocky Mountain Institute (RMI) to quantify emissions from oil and gas production, used by ClimateWells to calculate and verify emission reductions. – Energy Transition Credits (Carbon Credits) – Credits

Star Product

Energy Transition Credits (Carbon Credits) directly link early shutdown of high-methane marginal oil wells to verified, permanent emission reductions. They create a financially viable incentive for operators to close polluting wells sooner, delivering both significant climate impact and local community benefits, making the solution practical, scalable, and trustworthy.

Awards and Recognitions

Media Apperance

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Certifications

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M&A and Collabs

Collab

ClimateWells partnered with JPMorgan Chase to incentivize the early shutdown of aging oil wells in Los Angeles’ Wilmington neighborhood. This initiative aims to reduce methane emissions, improve public health, and create local employment opportunities.

Collab

In collaboration with RMI, ClimateWells measures emissions from decommissioned wells using RMI’s Oil Climate Index tool. This partnership ensures accurate tracking of emissions reductions and supports the creation of verified carbon credits.

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