fresh funding

Houston company scores NSF grant for DAC tech

GigaDAC's technology, as it scales, should reduce the cost of construction by two thirds. Photo courtesy of Victory Over Carbon

A Houston startup that's using aerospace engineering in the direct air capture space has received funding to continue research and development on its technology.

Victory Over Carbon Inc. received a Small Business Innovation Research grant for $272,488 from U.S. National Science Foundation. The company, which is based out of Greentown Labs in Houston, has created its GigaDAC system that uses a spray to aerodynamic separator model, reducing costs while maintaining efficacy, according to a news release from the company.

“NSF accelerates the translation of emerging technologies into transformative new products and services,” Erwin Gianchandani, NSF assistant director for Technology, Innovation and Partnerships, says in the release. “We take great pride in funding deep-technology startups and small businesses that will shape science and engineering results into meaningful solutions for today and tomorrow.”

GigaDAC's technology, as it scales, should reduce the cost of construction by two thirds, per the company, while optimizing current DAC operations.

“DAC is a critical pillar to solving climate change, and an immense undertaking as society gets serious about scaling in a way that is both technologically sound as well as commercially viable,” Harrison Rice, CEO of Victory Over Carbon, says in the release “Today’s leading DAC contactor designs are largely an offshoot of cooling tower technology. As a positive, these systems work — but they’re not optimized to scale. For GigaDAC, we went to a blank slate and started with scalability as the first principal; both to build, and to operate efficiently.

"Getting this right means winning in a market expected to grow to over $1 trillion in annual revenue,” he continues.

Since the company has secured funding from the America’s Seed Fund powered by NSF, it can apply for additional funding totaling up to $2 million.

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A View From HETI

Greentown Labs and MassChallenge have formed a strategic partnership. Photo courtesy Greentown Labs.

Climatetech incubator Greentown Labs has formed a strategic partnership with global zero-equity accelerator MassChallenge.

The two organizations have headquarters in the Boston area, while Greentown Labs is also co-located in Houston. MassChallenge has a hub in Dallas, as well as others in Israel, Switzerland and the United Kingdom.

The new partnership aims to strengthen the ecosystem for early-stage climatetech startups by providing more mentorship, support and a broader commercialization network for members, according to a news release.

Greentown Labs will share its expertise with the 23 startups in MassChallenge's first climate-specific accelerator, known as the MassChallenge Early Stage Climate program. Additionally, Greentown Labs members will benefit from MassChallenge's network of expert mentors, judges, entrepreneurs, partners, investors, philanthropists and others.

“There are so many synergies and shared values between MassChallenge and Greentown that launching a collaboration like this feels like a natural next step for our organizations as we strive to support as many early-stage climate founders as possible,” Georgina Campbell Flatter, Greentown Labs CEO, said in the news release. “We want to reduce the friction and barriers to market for these climate entrepreneurs and ultimately increase their opportunity for success—ecosystem collaboration is an essential part of solving these challenges together.”

Combined, Greentown and MassChallenge report that they have supported more than 4,500 founders and more than 1,000 climate startups. MassChallenge has awarded more than $18 million in equity-free grants to startups, which have gone on to raise over $15 billion, since it was founded in 2009. Greentown Labs has helped more than 575 startups raise more than $8.2 billion in funding since it launched in 2011.

Greentown recently added five startups to its Houston community and 14 other climatetech ventures to its Boston incubator. It also announced its third ACCEL cohort, which works to advance BIPOC-led startups in the climatetech space, earlier this year. Read more here.

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