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First cohort of carbontech start-ups announced for C2V accelerator

Programme aims to create an ecosystem for the commercialisation of carbontech – technologies that capture, convert, and store carbon dioxide into valuable end products or services.

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Carbontech innovations represent a potential $3 trillion market opportunity
Carbontech innovations represent a potential $3 trillion market opportunity

The Carbon to Value Initiative (C2V Initiative) accelerator programme has selected its initial cohort of 10 carbontech start-up participants.

 

The programme aims to create a thriving innovation ecosystem for the commercialisation of carbontech – technologies that capture, convert, and store carbon dioxide (CO₂) into valuable end products or services.

 

Multi-year collaboration

 

C2V is a multi-year collaboration between the Urban Future Lab at the NYU Tandon School of Engineering, Greentown Labs and Fraunhofer USA.

 

For the duration of the accelerator, the start-ups will receive complimentary membership and access to the community at Greentown Labs, the largest climatetech start-up incubator in North America, and access to the Urban Future Lab’s network of investors, experts, and community of founders.

 

“In addition to being absolutely necessary to stave off dangerous climate impacts, carbontech innovations represent a potential $3 trillion market opportunity,” said Pat Sapinsley, managing director at the Urban Future Lab.

 

“We are excited to welcome 10 start-ups, each proposing different business models and technology innovations to realise that opportunity.”

 

The C2V Initiative received more than 130 applications from 26 countries, representing a wide variety of carbontech innovations, with carbon utilisation product and process innovations, and carbon capture and carbon sequestration solutions as the most prominent topic areas.

“In addition to being absolutely necessary to stave off dangerous climate impacts, carbontech innovations represent a potential $3 trillion market opportunity”

After a deliberation and down-selection process, 10 companies were chosen to participate in the first cohort of the C2V accelerator programme:

  • Air Company (New York City) transforms CO2 into high-purity alcohols that can be used in spirits, sanitisers, and a variety of consumer industries
  • Carbfix (Reykjavík) provides a natural and permanent carbon storage solution by turning CO2 into stone underground
  • CarbonFree (San Antonio) has commercial technologies that capture and convert industrial CO2 emissions into minerals for sale or storage
  • CarbonQuest (New York City) provides decarbonisation technologies and solutions for buildings with a focus on modular carbon capture
  • Cemvita Facory (Houston) engineers microorganisms to use CO2 as feedstock for biomanufacturing of intermediate chemicals such as ethylene
  • CERT (Toronto) converts CO2 to chemicals such as ethylene via electrolysis
  • Made of Air (Berlin) creates drop-in ready, durable thermoplastics using carbon captured by biomass
  • Mars Materials (Oakland) develops a new pathway for carbon fibre production using CO2 as a raw material
  • Patch (San Francisco) is a platform for negative emissions
  • Planetary Hydrogen (Dartmouth) combines hydrogen production with CO2 sequestration via ocean air capture.

Over the next six months, the start-ups will participate in a structured programme featuring a customised curriculum, hands-on mentorship, and knowledge-sharing sessions with Climate Leadership Council (CLC) members.

“We know that to effectively address the climate crisis and mitigate the effects of climate change, we need to rapidly scale and deploy carbontech solutions to accelerate the energy transition”

Additionally, selected start-ups will be in a unique position to cultivate relationships and explore potential partnerships with the C2V Initiative’s CLC members. The CLC represents an array of organisations that have made formal commitments to reducing carbon emissions in their core businesses and beyond.

 

“We know that to effectively address the climate crisis and mitigate the effects of climate change, we need to rapidly scale and deploy carbontech solutions to accelerate the energy transition,” added Dr Emily Reichert, CEO of Greentown Labs. “We’re proud to support these start-ups from all over the world and look forward to the collaborations that will spark among the start-ups and our CLC members.”

 

The C2V Initiative is supported by the New York State Energy Research and Development Authority and the Consulate General of Canada in New York.

 

In the coming months, the C2V Initiative will announce the call for applications for its second start-up cohort.

 

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