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The Carbon to Value (C2V) Initiative has introduced its first cohort of companies aimed at commercializing carbon technologies (carbontech) that capture and convert CO2 into valuable end products or services.
Carbontech has a market opportunity of $1 trillion in the U.S. and up to $6 trillion globally, according to Carbon180. Carbontech goods and services include commodities like fuel, plastics, building materials, cosmetics, food, beverages, and emerging technologies like carbon nanotubes.
The C2V Initiative is a multi-year, multi-stakeholder program between corporations, government and NGOs to accelerate the carbontech market by scaling up innovative technologies from startups. The initiative is powered by Urban Future Lab, Greentown Labs, and Fraunhofer USA.
The 10 startups for C2V Initiative's first cohort, selected through a competitive process from more than 130 applicants across 26 countries, include the following companies:
- Air Company, New York: transforms CO2 into high-purity alcohols that can be used in spirits, sanitizers, and a variety of consumer industries.
- Carbfix, Iceland: provides a natural and permanent carbon storage solution by turning CO2 into stone underground.
- Carbonfree, San Antonia: has commercial technologies that capture and convert industrial CO2 emissions into minerals for sale or storage.
- CarbonQuest, New York: provides decarbonization technologies and solutions for buildings with a focus on modular carbon capture.
- Cemvita Factory, Houston: engineers microorganisms to use CO2 as feedstock for biomanufacturing of intermediate chemicals such as ethylene.
- Cert, Toronto: converts CO2 to chemicals such as ethylene via electrolysis.
- Made of Air, Berlin: creates drop-in ready, durable thermoplastics using carbon captured by biomass.
- Mars Materials, Oakland: develops a new pathway for carbon fiber production using CO2 as a raw material.
- Patch, San Francisco: a platform for negative emissions.
- Planetary Hydrogen, Canada: combines hydrogen production with CO2 sequestration via ocean air capture.
