IgniteX Carbon Dioxide Removal Accelerator Selects 6 Startups

IgniteX Carbon Dioxide Removal Accelerator Selects 6 Startups - Carbon Herald

As new reports of a record spike in atmospheric carbon dioxide levels intensify climate change concerns, Black & Veatch is making efforts to do its part in addressing the problem. It has selected six startups to participate in its BV IgniteX Carbon Dioxide Removal (CDR) Accelerator – a provider of support to enterprises on the cutting edge of climate technology.

As part of the 12-week program, participants partner with Black & Veatch thought leaders and subject matter experts who provide consultation and support towards co-developing, piloting and/or marketing the new technology. Along the way they receive mentorship, access to the company’s vast industry network, product testing opportunities, pitch development coaching and investor introductions. The program culminates with a showcase where the entrepreneurs present their solutions and outline their value propositions and market opportunity.

Relevant: Black And Veatch’s IgniteX Carbon Removal Accelerator Now Accepts Applications

“It was inspiring to see the diverse and novel approaches that so many promising startups are taking to address the tremendous challenge of climate change,” said Mark Vranicar, a manager in Black & Veatch’s sustainable process solutions practice. “Our experienced teams at Black & Veatch are ready to get to work with the technologies in this cohort to help scale their solutions into affordable, verifiable and widely deployable means of removing carbon dioxide (CO2).”

The six 2024 BV IgniteX CDR accelerator program participants – among more than 50 applicants – are:

  • Aeon Blue uses seawater and renewable energy to make a drop-in replacement for fossil fuel while capturing and storing CO2 from air.
  • Ebb Carbon is pioneering a new marine carbon dioxide removal solution by enhancing the ocean’s natural ability to safely store CO2 with an electrochemical technology.
  • Elysia enables CO2 removal using electrospun nanomaterials, with its durable materials able to process huge amounts of air quickly, with minimal energy and at low costs.
  • Heimdal builds machines that use mineral sorbents to permanently capture and store atmospheric CO2.
  • Holocene is a direct air capture (DAC) technology developer and CDR service provider building liquid-based, continuous and low-temperature systems.
  • Parallel Carbon uses renewable power with integrated DAC and water electrolysis processes to reduce costs and maximize value.

Black & Veatch is teaming up with RTI International – a leading independent research institute – to provide technical and commercialization support to program participants.

Burnishing Black & Veatch’s decarbonization solutions status, the U.S. Department of Energy’s Office of Fossil Energy and Carbon Management in August 2023 named the company among 13 semifinalists to receive a total of $1.3 million for commercialization programs that support technologies that remove carbon from the atmosphere, including direct air capture (DAC).

Relevant: remove Announces Next 20 Startups To Join Its Accelerator Program

The DAC Energy Program for Innovation Clusters (EPIC) Prize is among several competitions hosted by the DOE and funded by the Bipartisan Infrastructure Law to support breakthrough DAC technologies. The prize sponsors incubator teams that provide creative, impactful solutions that support entrepreneurs and innovators in the DAC space.

The BV IgniteX accelerator program provides funding of up to $35,000 in non-dilutive grants and in-kind services, plus potential equity investments from $50,000 to $100,000. This is the fifth year of the program, where Black & Veatch has partnered with more than 40 companies and has made more than $2 million in investments, grants and in-kind services.

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