A decade ago, carbon dioxide removal was a small part of the global climate change conversation. But the latest IPPC report notes that alongside other measures “Carbon dioxide removal (CDR) will be necessary to achieve net-negative CO2 emissions.” The process of carbon dioxide removal encompasses a range of technical and nature-based solutions through which existing CO2 is removed from the atmosphere and sequestered safely for long periods of time.
To accelerate the transition to a net-zero carbon society, EIT Climate-KIC — Europe’s leading climate innovation agency — is supporting promising carbon dioxide removal start-ups via the Carbon Removal ClimAccelerator. The programme, endorsed by Munich Re and ERGO, harnesses 12 years of experience as the main climate innovation solution provider in Europe, with over 2,100 solutions supported and over €2 billion of capital secured.*
Since 2017, EIT Climate-KIC and Munich Re and ERGO have supported entrepreneurs all across Europe, scaling a total of 32 start-ups, including 12 with CDR solutions such as afforestation, direct air capture, biochar, and bioenergy-based carbon capture and storage.
Now starts the next application round for start-ups with high-impact potential. The selected start-ups will receive tailored coaching and mentorship, business development and up to €10,000 in financial support. EIT Climate-KIC will guide participants through a climate impact workshop where they will forecast their business’ climate impact, and develop strategies to improve their environmental footprint.
“Preventing catastrophic climate change and achieving the ‘well below 2°C’ Paris Agreement target requires a speed of decarbonisation at least six times faster than anything the global community has achieved so far. Carbon removal technology can be a part of the solution,” says Carla Erber, the programme manager at EIT Climate-KIC.
Delivered by Tangent, Trinity's Ideas Workspace, the programme will support up to 20 early-stage start-ups in Stage 1 from October to December, with the possibility to apply for Stage 2. Applications for the Carbon Removal ClimAccelerator are open from now until 10 September on the website: CDR-ClimAccelerator.com
*Data from EIT Climate-KIC, 2017-2022