C2V Initiative announces year 4 startup cohort for its carbontech accelerator program

The Carbon to Value Initiative (C2V Initiative), a multi-year collaboration from NYU Tandon School of Engineering's Urban Future Lab (UFL), Greentown Labs and Fraunhofer USA to catalyze the carbontech ecosystem, has announced nine startup participants for the fourth year of its carbontech accelerator program.

The C2V Initiative received 123 applications from 29 countries, representing a wide variety of carbontech innovations, including point source and direct air capture (DAC); carbon conversion into added-value products such as fuels, chemicals, and materials; and carbon sequestration and removal via enhanced mineralization and ocean alkalinization, biomass carbon removal and storage, and more.

After a highly competitive deliberation and selection process, nine companies were chosen to participate in the fourth cohort of the C2V Initiative's accelerator program:

• Ardent (New Castle, Delaware, U.S.) is a process technology company that is developing membrane-based solutions for point-source carbon capture and other chemical separations.
• CarbonBlue (Haifa, Israel) develops a chemical process that mineralizes and extracts CO₂ from water, which then reabsorbs more atmospheric CO₂.
• MacroCycle (Somerville, Massachusetts, U.S.) develops a chemical recycling process to turn polyethylene terephthalate (PET) and polyester-fiber waste into "virgin-grade" plastics.
• Maple Materials (Richmond, California, U.S.) develops an electrolysis process to convert CO₂ into graphite and oxygen. 
• Oxylus Energy (New Haven, Connecticut, U.S.) develops a direct electrochemical process to convert CO₂ into fuels and chemical feedstocks, such as methanol.
• Phlair (Munich, Germany) develops a renewable-energy-powered Direct Air Capture (DAC) system using an electrochemical process for acid and base generation.
• Secant Fuel (Montreal, Quebec, Canada) develops a one-step electrocatalytic process that converts flue gas into syngas.
• RenewCO₂ (Somerset, New Jersey, U.S.) is developing an electrochemical process to convert CO₂ into fuels and chemicals, such as sustainable aviation fuel (SAF) or propylene glycol.
• Seabound (London, England) builds carbon-capture equipment for new and existing ships.

Over the six-month accelerator, which is designed to advance the startups' commercialization efforts and de-risk their carbontech innovations, the cohort will gain access to the C2V Initiative's Carbontech Leadership Council (CLC). The CLC is an invitation-only group of corporate, nonprofit, and government thought leaders across diverse industry sectors who foster commercialization opportunities and identify avenues for technology validation, testing, and demonstration. Year 4 of the initiative will feature active involvement from all CLC member companies, offering startups exposure to a diverse array of market and business verticals in addition to tailored professional mentorship from some of the industry's leading professionals. The goal of these startup-corporate engagements is to foster collaboration opportunities across the carbontech ecosystem.

Since the C2V Initiative's inception, the program has supported 26 groundbreaking startups that have raised over $410 million in follow-on funding, leading to partnership engagements and 500+ business relationships, technology advancement, and industry growth. 

Frederic Clerc, Director, C2V Initiative and Interim Managing Director, UFL: "Once again, the C2V Initiative has been able to select some of the most promising carbontech startups through a very competitive process with a 7 percent acceptance rate. The diversity of this cohort, in its technologies, products, geographies, and stages, makes it an amazing snapshot of the rapidly evolving carbontech innovation landscape. We can't wait to work with these impressive entrepreneurs!"

Thomas Schuelke, President, Fraunhofer USA: "The Carbon to Value Initiative continues to drive remarkable innovation in its fourth year. The diverse technologies emerging from this program - from carbon capture to sustainable materials - showcase the immense potential for both climate impact and economic growth. We're proud to support these startups as they develop solutions that are critical for addressing global climate challenges."

www.c2vinitiative.com

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