Black & Veatch IgniteX Carbon Dioxide Removal Accelerator Program Selects 6 Startups

Nationally-recognized program empowers startups involved in climate, decarbonization technology

As new reports of a record spike in atmospheric carbon dioxide levels intensify climate change concerns, Black & Veatch has selected six startups to participate in its BV IgniteX Carbon Dioxide Removal (CDR) Accelerator – a provider of support to enterprises on the cutting edge of climate technology.

As part of the 12-week program, participants partner with Black & Veatch thought leaders and subject matter experts who provide consultation and support towards co-developing, piloting and/or marketing the new technology. Along the way they receive mentorship, access to the company’s vast industry network, product testing opportunities, pitch development coaching and investor introductions. The program culminates with a showcase where the entrepreneurs present their solutions and outline their value propositions and market opportunity.

“It was inspiring to see the diverse and novel approaches that so many promising startups are taking to address the tremendous challenge of climate change,” said Mark Vranicar, a manager in Black & Veatch’s sustainable process solutions practice. “Our experienced teams at Black & Veatch are ready to get 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 program participants – among more than 50 applicants – are:

• Aeon Blue uses seawater and renewable energy to make a drop-in replacement for fossil fuel while capturing and storing CO2 from air.
• Ebb Carbon is pioneering a new marine carbon dioxide removal solution by enhancing the ocean’s natural ability to safely store CO2 with an electrochemical technology.
• Elysia enables CO2 removal using electrospun nanomaterials, with its durable materials able to process huge amounts of air quickly, with minimal energy and at low costs.
• Heimdal builds machines that use mineral sorbents to permanently capture and store atmospheric CO2.
• Holocene is a direct air capture (DAC) technology developer and CDR service provider building liquid-based, continuous and low-temperature systems.
• Parallel Carbon uses renewable power with integrated DAC and water electrolysis processes to reduce costs and maximize value.

Black & Veatch is teaming up with RTI International – a leading independent research institute – to provide technical and commercialization support to program participants.

Burnishing Black & Veatch’s decarbonization solutions status, the U.S. Department of Energy’s Office of Fossil Energy and Carbon Management in August 2023 named the company among 13 semifinalists to receive a total of $1.3 million for commercialization programs that support technologies that remove carbon from the atmosphere, including direct air capture (DAC).

The DAC Energy Program for Innovation Clusters (EPIC) Prize is among several competitions hosted by the DOE and funded by the Bipartisan Infrastructure Law to support breakthrough DAC technologies. The prize sponsors incubator teams that provide creative, impactful solutions that support entrepreneurs and innovators in the DAC space.

Editor’s Notes:

• The BV IgniteX accelerator program provides funding of up to $35,000 in non-dilutive grants and in-kind services, plus potential equity investments from $50,000 to $100,000.
• This is the fifth year of the program, where Black & Veatch has partnered with more than 40 companies and has made more than $2 million in investments, grants and in-kind services.

About Black & Veatch

Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Follow us on www.bv.com and on social media.

About RTI International

RTI International is an independent, nonprofit research institute dedicated to improving the human condition. Clients rely on us to answer questions that demand an objective and multidisciplinary approach — one that integrates expertise across the social and laboratory sciences, engineering and international development. We believe in the promise of science, and we are inspired every day to deliver on that promise for the good of people, communities and businesses around the world. For more information, visit www.rti.org.

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