Nonprofit investor Elemental Excelerator has just announced the funding of another 15 climate tech companies in its 12th cohort.
This latest cohort adds another $12.5 million funding for climate solutions, bringing the accelerator’s total amount of investments to $79 million.
Among the 15 newly announced companies to receive funding are those that have developed and will continue to improve innovative technologies for resource extraction, heating, cooling, food systems, and carbon dioxide removal (CDR).
These 15 companies will now join the ranks of over 150 more in Elemental’s investment portfolio, thus establishing the investor’s global presence in more than 100 countries around the world and in all 50 US states.
Elemental Excelerator founder & CEO Dawn Lippert said in a statement: “This year, record heat and climate-fueled disasters have devastated our communities. Investors and innovators are taking note, and are pouring in to address climate change. This year, we met some of the strongest entrepreneurs in our 13+ years investing, and I am thrilled with the boldness and ambition of the companies in this cohort.”
Three of the companies Elemental Excellerator has selected for its 12th cohort are focused on removing CO2 from the atmosphere – a process identified by the IPCC as critical for limiting rising global temperatures.
Among them is Capture6, which uses direct air capture (DAC) technology, while simultaneously increasing freshwater production.
Next is Ebb Carbon, a company that harnesses the natural ability of the ocean to pull carbon dioxide from the air in what is easily the most scalable and cost-effective CDR approach currently available.
Last but not least, Yard Stick PBC is the third and final carbon removal specialist in this cohort. The company specializes in soil carbon sequestration and promotes regenerative agriculture practices.