Third Derivative marks a major milestone with the graduation of 35 climate innovation startups—spanning 11 countries across four continents— from its Cohort 23-2 and the First Gigaton Captured (FGC) program.
Since joining in mid-2023, these startups have shown resilience in navigating the challenges of bringing groundbreaking technologies to market, Third Derivative said in a statement last week.
After an 18-month journey, they are now poised to scale their impact and drive transformative climate solutions forward.
With 28 companies graduating, Cohort 23-2 is one of the largest groups so far. Despite shifting venture capital trends and evolving policy landscapes, they have made remarkable progress, collectively raising over $107 million in funding.
Additionally, seven startups are concluding their journey with FGC’s second cohort, bringing an end to a program launched in 2021 in partnership with the Grantham Foundation to support promising carbon dioxide removal (CDR) startups.
The FGC group focused on technologies like direct air capture (DAC), marine-based carbon removal, geochemical sequestration, and geological carbon dioxide (CO2) storage—solutions critical to meeting global climate goals.
The startups received specialized support for life cycle assessments, techno-economic analyses, and engineering advisory services.
Relevant: Remove Announces New Cohort Of CDR Startups For Its Europe Accelerator Program
Graduating startups from the Cohort 23-2 have developed innovations spanning multiple sectors. Some focus on battery recycling and critical mineral recovery, while others are transforming mining waste into low-carbon cement alternatives or advancing green steel production.
Energy innovation was a key theme, with companies pioneering new wind and solar technologies, energy storage solutions, and Electric Vehicle (EV) charging infrastructure improvements.
Others introduced energy-efficient building materials, next-generation insulated windows, and energy-storing appliances designed to enhance grid flexibility.
The 35 graduating startups now employ approximately 600 full-time staff globally—a 75% increase since joining the program.
The average Technology Readiness Level (TRL) within the group rose to 6.8, with some companies advancing by as many as three TRL levels.
As alumni, the startups will continue to gain support from Third Derivative’s global network of investors, mentors, and corporate partners.
Read more: CEEZER Carbon Coalition Is Accepting Applications For Third Cohort
