These contracts will be the first sale for researchers, who will also receive two years of funding and other benefits through the Activate Fellowship, which will connect them with the resources, knowledge and networks they need to transform from scientists to high impact entrepreneurs. .
“For CDR technologies to evolve, we need to bring a critical mass of startups to the starting line,” says Ryan orbuch, purchasing manager for Stripe Climate. “Activate already provides deep support to science entrepreneurs, and we see our partnership as a powerful multiplier of that support for fellows developing promising CDR technology.”
Stripe’s sourcing contracts will be transformational for Activate Fellows and their startups, providing immediate traction and bringing their technologies to market, and likely triggering a cascade of follow-on benefits, from additional fundraising to attraction. of the best talents.
“The elimination of carbon dioxide is already limited by human capital. Activate is amazing and builds the skills and experience that this new global company needs, ”says Julio Friedmann, principal investigator at from Columbia University Center for Global Energy Policy. “Their partnership with Stripe now delivers the greatest possible value to the CDR ecosystem. “
Since its inception in 2015, Activate has supported 103 fellows on a mission to tackle climate change and other global challenges by bringing their scientific innovations to market. Their startups have introduced breakthrough clean energy technologies aimed at decarbonizing the energy grid, manufacturing, including hard-to-decarbonize products such as cement, buildings and transportation.
Building on these successes and the growing demand for decarbonization across sectors, Activate launched the Imperative CDR, an initiative to identify, fund and support fellows developing technologies to remove CO2 from the atmosphere at high volumes. , adequate timelines and efficiencies to achieve aggressive climate goals.
“This is a revolutionary partnership for Activate and a remarkable opportunity for science entrepreneurs to gain early traction for their startups in the emerging CDR industry,” says Karine lion, Director of Growth at Activate. “Identifying that first client is one of the main challenges our fellows face. Stripe’s state-of-the-art initiative addresses this problem. We are excited to be able to facilitate this ramp to activate scholars who launch CDR startups so that they can focus on technology development. “
With the help of more than a dozen scientists and advisers around the world, Stripe and its ~ 5,000 users in 37 countries engaged a total of $ 9 million to ten carbon elimination projects. And there is evidence that Stripe’s early support spurred progress: Charm Industrial delivered the Stripe purchase months in advance; Climeworks recently opened a new facility with 80 times the capacity of its previous plant; and in April 2021, CarbonCure and CarbonBuilt won the Carbon XPRIZE. These startups then attracted additional clients and investors, including Microsoft, Shopify, Lowercarbon Capital, and others.
Stripe Climate will offer supply contracts to fellow 2022 cohort whose products, when scaled up, will meet CDR’s mandatory selection criteria, which requires the proposed technology to be able to store CO2 for 1,000 years and fix thresholds around the amount and price per tonne of carbon dioxide to be removed and permanently stored.
Activate developed the CDR Imperative with advice from Carbon180, which develops and advocates federal policy to evolve the nascent carbon phase-out industry and will help fellows engage with lawmakers and advocate for new initiatives that will benefit the growth of their businesses.
Dealing with the climate crisis requires broad collaboration across sectors, and Activate is uniquely positioned to galvanize these connections by working with government, academia, industry and philanthropic partners. Activate draws on a range of partners to fund the scholarship, and is grateful for a coalition of supporters, including Climate Pathfinders Foundation, the Grantham Environmental Trust, and Additional companies, which made it possible to launch the Imperative CDR.
Applications for the 2022 Activate scholarship cohort are open October 15 and will close November 30. To learn more about the scholarship and how to apply, and to register for upcoming webinars and office hours with Carbon180’s Director of Science and Innovation Minor Stone and Head of Purchasing for Stripe Climate Ryan orbuch, go to activate.org/cdr.
Founded in 2015, Activate is a 501 (c) 3 non-profit organization that empowers scientists to reinvent the world by commercializing their research to fight climate change and other global challenges. Activate work between government and the private sector, turning scientists into high impact entrepreneurs through a scholarship that guides them every step of the way. The Activate Fellowship provides two years of funding and connects fellows with the resources, knowledge, and networks they need to be successful. The stock market does not take any participation in the startups of the grant holders. Activate’s entrepreneurial scholarship model originated at Cyclotron Road, a division of Lawrence Berkeley National Laboratory and founding partner of Activate. Today, Activate supports 20-30 new Activate Fellows each year and plans to expand to 100 new Fellows, across the United States, each year. For more information, visit Activate.org.
Stripe is a technology company that is building an economic infrastructure for the Internet. Businesses of all sizes, from new startups to public companies like Salesforce and Facebook, use the company’s software to accept payments online and perform technically sophisticated financial transactions in more than 100 countries. Stripe helps new businesses start up and grow their revenues, and established businesses accelerate into new markets and launch new business models. In the long run, Stripe aims to increase the Internet’s GDP.
Stripe Climate makes it easy for any business to tackle climate change. In less than a minute, Stripe businesses can spend a fraction of their revenue on initiatives that permanently remove carbon dioxide from the atmosphere. For more information visit stripe.com/climat.