Third Derivative (D3) – a global climate technology startup accelerator, announced December 7th, 2021, a new four-year partnership called First Gigaton Captured with The Jeremy and Hannelore Grantham Environmental Trust – a leader in catalytic climate funding and environmental protection.
The First Gigaton Captured partnership will aim to find, fund, and scale the most promising carbon removal startups in an effort to massively accelerate breakthrough negative emissions technologies.
It will include the expertise of Third Derivative (D3) and its risk management and insurance to research, find and highlight the most promising carbon capture and removal pathways. The companies will also launch a deeply-resourced D3 Carbon Capture Cohort in 2022 that will support the market’s most promising carbon capture startups with deployable and high-impact solutions.
First Gigaton Captured will unlock capital to accelerate the technical development of high-impact direct air capture technologies, including funding proofs-of-concept, pilots, and first-of-a-kind commercial facilities.
“Innovation and technology are our only hopes for solving climate change and building a sustainable future. At the Grantham Foundation, we believe that early stage startups are the most potent force for innovation. Launching First Gigaton Captured with Third Derivative will push forward climate technology and commercialize carbon capture faster—it’s the kind of initiative that is absolutely needed,” said Jeremy Grantham.
According to Danny Kennedy, CEO of New Energy Nexus and D3 Board Chair, accelerator programs, investors, and innovators are the leaders in the mission to combat the climate crisis and now their role is more important than ever. He sees the D3 and Grantham Trust partnership as a tremendous move in the right direction to find and fund startups with negative emissions technologies.
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D3 is always looking for new startups to join the accelerator program that could apply on their website’s general application page. Applications for the Carbon Capture Cohorts will also open in Q1 2022. The new partnership will target to accelerate the speed of carbon removal innovation and deployment towards gigaton-scale CO2 capture by 2050.
Relevant: Australia To Establish $1 Billion Fund For Low Carbon Technologies
