Global climate technology ecosystem Third Derivative (D3) launched on July 19 a cohort of five startups that offer promising carbon removal solutions. Carbon removal refers to capturing CO2 from the atmosphere or the oceans.
“According to the Intergovernmental Panel on Climate Change, in order to achieve climate targets, we not only need to drastically reduce emissions, but also remove up to 20 billion tons of CO2 per year from the atmosphere,” said Brant Richards, Managing Director of D3. “CDR is a crucial part of the package of climate solutions that need to be deployed. D3 is thrilled to be supporting the most promising startups working on CDR [carbon dioxide removal] technologies.”
Relevant: DOE Announced $14 Million Investment In Five Direct Air Capture Projects
The five startups are:
- Avnos: addresses the problem of the expensiveness of current direct air capture technologies (DAC) because of the large amounts of energy and water that they require. The L.A.-based startup extracts water from the atmosphere to allow for high-efficiency DAC with moisture-responsive carbon sorbents. The low-energy, fully electrified system removes both water and CO2 from the air.
- Mission Zero Technologies: utilizes technology with existing supply chains to create a scalable and cost-effective carbon removal process that can integrate with capture, utilization, and storage operations.
- Sustaera: deploys a modular, versatile DAC technology that takes less space than land-based natural carbon capture solutions.
- Vesta: speeds up the natural process of rock weathering on coasts for ocean carbon removal and shoreline protection.
- 44.01: supports a permanent, cost-effective, nature-based sequestration solution that removes carbon from the air.
The starting companies will receive mentorship from experts and developers-in-residence. They will also get direct catalytic funding to accelerate and scale their solutions. The five startups are part of D3’s “First Gigaton Captured” initiative, which develops and manages an ecosystem of the most innovative startups, investors, corporations, and technology, policy, and market experts globally. The initiative aims to bring the cost of carbon removal to $100 per ton of CO2 captured.
Read more: Bill Gates Fund To Invest $15 Billion In Direct Air Capture And Green Hydrogen
