Black & Veatch selects six startups for CO2 removal programme
SUMMARY
The accelerator programme offers funding of up to $35,000 in non-dilutive grants and in-kind services, along with potential equity investments ranging from $50,000 to $100,000.
By Shardul SharmaPOSTED IN:
Engineering company Black & Veatch has selected six startups to participate in its BV IgniteX Carbon Dioxide Removal (CDR) Accelerator, a programme supporting enterprises working on climate technology, the company announced on 3 June.
As part of the 12-week programme, participants collaborate with Black & Veatch thought leaders and subject matter experts who provide consultation and support in co-developing, piloting, and marketing new technologies. Participants receive mentorship, access to the company’s industry network, product testing opportunities, pitch development coaching, and investor introductions.
The programme culminates with a showcase where the entrepreneurs present their solutions and outline their value propositions and market opportunities.
Mark Vranicar, a manager in Black & Veatch’s sustainable process solutions practice, said, “Our experienced teams at Black & Veatch are ready 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 programme participants, selected from more than 50 applicants, are Aeon Blue, which uses seawater and renewable energy to create a drop-in replacement for fossil fuel while capturing and storing CO2 from the air; Ebb Carbon, which is pioneering a marine carbon dioxide removal solution by enhancing the ocean’s natural ability to safely store CO2 with electrochemical technology; Elysia, which uses electrospun nanomaterials for CO2 removal, with durable materials that process large amounts of air quickly, with minimal energy and low costs; Heimdal, which builds machines that use mineral sorbents to permanently capture and store atmospheric CO2; Holocene, a direct air capture (DAC) technology developer and CDR service provider building liquid-based, continuous, and low-temperature systems; and Parallel Carbon, which uses renewable power with integrated DAC and water electrolysis processes to reduce costs and maximise value.
Black & Veatch is teaming up with RTI International, a leading independent research institute, to provide technical and commercialisation support to programme participants.
The BV IgniteX Accelerator programme offers funding of up to $35,000 in non-dilutive grants and in-kind services, along with potential equity investments ranging from $50,000 to $100,000. This is the fifth year of the programme.
