- Cool Effect announces the first companies and projects selected as award recipients from the Cool Effect Catalyst
- The award will go to companies active across carbon dioxide removal (CDR), superpollutant reductions, and nature-based solutions
- Recipients include Kenya-based Octavia Carbon and Chicago-native Tradewater
Cool Effect has announced the first recipients of The Cool Effect Catalyst, an award of up to $1 million aiming to accelerate the development and scaling of high-integrity carbon dioxide removal (CDR) projects.
Announced back in 2025, the Cool Effect Catalyst was launched to address a critical funding gap for CDR projects, which, despite demonstrating potential for tackling legacy CO2 emissions often struggle to lock in the financial means necessary to get projects up and running and growing in scale.
“Financial awards were supposed to begin in 2027, but we recognize the climate crisis cannot wait, and neither can the innovators developing solutions to address it,” said Cool Effect CEO Jodi Manning.
The inaugural Cool Effect Catalyst is awarding solutions in three different categories: durable carbon dioxide removal, superpollutant reduction, and nature-based solutions.
After evaluating 68 applications over the past year against a rigorous due diligence framework called Carbon Done Correctly, Cool Effect has now announced the first award recipients who are to receive Catalyst funding.
The companies to receive The Cool Effect Catalyst award
In the durable carbon dioxide removal category, the recipient of the Catalyst investment is Kenya-based Octavia Carbon, a direct air capture (DAC) trailblazer in Africa and the Global South, specialized in removing atmospheric CO2 and enabling its permanent storage.
With this Catalyst investment, Cool Effect is providing early demand for future carbon removals, helping Octavia prove its model, scale operations, and accelerate durable CDR capacity in Africa.
Relevant: Octavia Carbon Secures An Offtake Agreement Via Carbon Direct
Chicago-born Tradewater is the recipient of immediate Catalyst funding in the superpollutant reduction category.
The company will leverage the financial support to establish India’s first Montreal Protocol-compliant ozone-depleting substance (ODS) destruction facility, addressing a critical infrastructure gap in a country that currently has no compliant destruction capacity.
Read more: Google Now Offering Over $6M In Research Funding For CDR And Superpollutant Solutions
This funding will enable the creation of a permanent infrastructure expected to result in the destruction of up to 325,000 tCO₂e annually across its initial projects while providing a pathway to permanently eliminate legacy refrigerants that would otherwise risk being released into the atmosphere.
Lastly, Cool Effect shares that its team has identified two finalists in the Nature Based Solutions category, who will undergo additional due diligence and site visits, after which the winner will be announced in 2027.
