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NEW YORK and SOMERVILLE, Mass., April 28, 2021 /PRNewswire/ -- The Carbon to Value Initiative (C2V Initiative), a multi-year collaboration among The Urban Future Lab at the NYU Tandon School of Engineering, Greentown Labs, and Fraunhofer USA, has selected 10 startups for the first year of this exciting accelerator. The C2V Initiative is supported by the New York State Energy Research and Development Authority (NYSERDA) and the Consulate General of Canada in New York. This program, the first of its kind, aims to create a thriving innovation ecosystem for the commercialization of carbontech—technologies that capture, convert, and store carbon dioxide (CO₂) into valuable end products or services.
The C2V Initiative received more than 130 applications from 26 countries, representing a wide variety of carbontech innovations, with carbon utilization product and process innovations, and carbon capture and carbon sequestration solutions as the most prominent topic areas. After a highly competitive deliberation and down-selection process, 10 companies were chosen to participate in the first cohort of the C2V accelerator program:
- Air Company (New York City, U.S.) transforms CO2 into high-purity alcohols that can be used in spirits, sanitizers, and a variety of consumer industries.
- Carbfix (Reykjavík, Iceland) provides a natural and permanent carbon storage solution by turning CO2 into stone underground.
- CarbonFree (San Antonio, U.S.) has commercial technologies that capture and convert industrial CO2 emissions into minerals for sale or storage.
- CarbonQuest (New York City, U.S.) provides decarbonization technologies and solutions for buildings with a focus on modular carbon capture.
- Cemvita Factory (Houston, U.S.) engineers microorganisms to use CO2 as feedstock for biomanufacturing of intermediate chemicals such as ethylene.
- CERT (Toronto, Canada) converts CO2 to chemicals such as ethylene via electrolysis.
- Made of Air (Berlin, Germany) creates drop-in ready, durable thermoplastics using carbon captured by biomass.
- Mars Materials (Oakland, U.S.) develops a new pathway for carbon fiber production using CO2 as a raw material.
- Patch (San Francisco, U.S.) is a platform for negative emissions.
- Planetary Hydrogen (Dartmouth, Canada) combines hydrogen production with CO2 sequestration via ocean air capture.
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