Black & Veatch IgniteX accelerator adds six startups focused on carbon dioxide removal

An Overland Park-based corporate innovation hub is set to empower an international roster of startups involved in climate and decarbonization technology — just as news reports point to a  record spike in atmospheric carbon dioxide levels and intensifying climate concerns.

Six companies have been selected for the Black & Veatch IgniteX Carbon Dioxide Removal (CDR) Accelerator, which is a provider of support to enterprises on the cutting edge of climate technology.

“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).”

As part of the 12-week program, participants partner with Black & Veatch thought leaders and subject matter experts who provide consultation and support toward 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.

Ryan Pletka, vice president of innovation for Black & Veatch, addresses the crowd gathered Nov. 8 for the 2023 IgniteX Accelerator showcase; photo courtesy of Black & Veatch

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.

The 2024 Black & Veatch IgniteX CDR accelerator cohort includes:

• Aeon Blue, Cape Breton, Nova Scotia, Canada — Uses seawater and renewable energy to make a drop-in replacement for fossil fuel while capturing and storing CO2 from air.

• Ebb Carbon, San Carlos, California — Pioneering a new marine carbon dioxide removal solution by enhancing the ocean’s natural ability to safely store CO2 with an electrochemical technology.

• Elysia, Berkeley, California — 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, Denver, Colorado — Builds machines that use mineral sorbents to permanently capture and store atmospheric CO2.

• Holocene, Knoxville, Tennessee — Direct air capture (DAC) technology developer and CDR service provider building liquid-based, continuous and low-temperature systems.

• Parallel Carbon, Jersey City, New Jersey — Uses renewable power with integrated DAC and water electrolysis processes to reduce costs and maximize value.

Amanda Odell, a corporate sustainability manager at Black & Veatch, speaks during a Nov. 8, 2023 IgniteX Accelerator showcase; photo courtesy of Black & Veatch

This is the fifth year of the IgniteX program, through which Black & Veatch has partnered with more than 40 companies and has made more than $2 million in investments, grants and in-kind services.

Black & Veatch now 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.