Third Derivative (D3) launches a cohort of five startups to accelerate the effectiveness of scaling of solutions to remove CO2 from the atmosphere.
CDR is the removal of carbon dioxide from the air or oceans, as opposed to capturing emissions directly from power plants or industrial sources, known as point-source carbon capture.
“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 technologies.”
Startups in the cohort are:
· Avnos — using atmospheric water extraction to enable high-efficiency direct air carbon capture using moisture-responsive CO2 sorbents in the same system.
· Mission Zero Technologies — harnessing technology with existing supply chains to develop a highly scalable carbon removal process that can cost-effectively integrate with carbon capture, utilisation, and storage operations.
· Sustaera —deploying a modular, versatile direct air capture solution that occupies less area than land-based natural CO2 capture methods.
· Vesta — accelerating the natural process of rock weathering in coastal areas for ocean CDR and shoreline protection.
· 44.01 — enhancing a permanent, cost-effective, and nature-based sequestration process that removes CO2 from the atmosphere.
The startups will receive support from expert mentors and developers-in-residence, as well as direct catalytic funding to advance and scale their technologies. The cohort is part of D3’s “First Gigaton Captured” initiative, which is convening and orchestrating an ecosystem of the world’s most innovative startups, investors, corporations, and technology, policy, and market experts to slash CDR’s cost to $100 per ton of CO2 captured.
For media inquiries please contact:
Elaine Hsieh, Principal, Third Derivative firstname.lastname@example.org
About Third Derivative
Founded in 2020 by RMI in partnership with New Energy Nexus, Third Derivative (D3) is accelerating the rate of climate innovation. D3’s inclusive ecosystem rapidly finds, funds, and scales climate tech globally. By uniting and aligning committed investors, corporations, and market and policy experts with the world’s most promising climate tech startups, D3 bridges finance and resource gaps to increase the speed to market. Together, we are moving markets to achieve an equitable climate future.
SOURCE Third Derivative