US startup accelerator Gener8tor has become one of 13 semi finalists selected for the DAC Energy Program for Innovation Clusters (EPIC) Prize by the Department of Energy (DOE).
Since being founded in 2012, Gener8tor has been the turnkey platform for more than 200 companies, helping them raise in excess of $800 million.
This latest program called the Direct Air Capture (DAC) Accelerator is an extension of the platform’s existing Sustainability Accelerator, which was its first-ever program to be based in Chicago.
Its focus will be on startups specializing in removing carbon dioxide from the atmosphere using Direct Air Capture or DAC technology and will provide them with individual coaching, networking, mentorship and supporter access.
The Clean Air Task Force (CATF), a nonprofit organization dedicated to reducing atmospheric pollution, will serve as an advisor for the program.
The DAC Accelerator program will last 12 weeks, during which it will aim to help five startups advance their technologies and bring them to market.
Carbon dioxide removal (CDR) has been identified by the IPCC as a key component of climate change mitigation, going hand in hand with efforts aimed at reducing CO2 emissions.
And direct air capture is one of several approaches to CDR that can help achieve gigaton scale in the near future.
As a semifinalist in the DAC Energy Program for Innovation Clusters (EPIC) Prize, which is a DOE initiative to support the development of DAC technologies, Gener8tor will receive $100,000 from DOE for its new program.
If successful, Gener8tor’s DAC Accelerator may be deemed eligible to compete for the grand prize of $750,000.