carbon footprint

Greentown Labs partners with VC firm on new emissions calculator integration

Greentown Labs has a new tool for evaluating potential members. Photo via Getty Images

If you want to be a member at either Boston-area or Houston location of Greentown Labs, you better have a small carbon footprint.

Leading global venture capital firm Clean Energy Ventures, which funds early-stage climate tech innovations, announced a partnership to offer access to the firm’s Simple Emissions Reduction Calculator (SERC) to Greentown Labs, the largest climate tech incubator in North America that is dually located in Houston and Sommerville, Massachusetts. New members will be required to report their CO2e emissions reduction potential as part of the incubator’s climate impact assessment as part of the Greentown Labs’ application process.

Greentown Labs has nurtured more than 525 companies across its two locations with a 94 percent success rate for startups. Greentown Labs supports and fosters collaboration with corporates, early-stage entrepreneurs, investors, government and other players while providing members access to labs and resources.

“As we continue our work to support the most innovative climate tech startups, we’re doubling down on how we quantify impact — both the impact Greentown Labs is having on the entrepreneurs we’re privileged to support, and the impact the startups themselves are having by reducing greenhouse gas emissions,” Kevin Knobloch, CEO and president of Greentown Labs, says in a news release. “Having access to this timely tool that Clean Energy Ventures has created is elevating our recruitment efforts and helping us standardize how we quantify the projected impact of our member community.”

CEV developed SERC in 2021 to assist startups with tools and algorithms to estimate their technology or business model’s emissions reduction potential. SERC is now used as an essential screening tool in over 1,000 companies asn a climate tech accelerators, incubators and investors across the globe, and was awarded an honorable mention by Fast Company World Changing Ideas in 2022.

“As climate tech investors, we are always eager to support the growth of an ecosystem of innovation and impact,” CEV Managing Partner David Miller in says in the release. “With the number of climate tech companies seeking investments today, startups that are able to estimate their innovation’s capacity to mitigate CO2e emissions truly stand out from the crowd and are more likely to secure investment. Through SERC, investors are able to gain critical insight to back the most impactful technologies with the potential to address climate change as quickly as possible over the next two decades.”

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A View From HETI

Houston biotech company Gold H2's proprietary biotechnology has generated hydrogen from depleted oil reservoirs in a California field trial. Photo courtesy Gold H2.

Houston climatech company Gold H2 completed its first field trial that demonstrates subsurface bio-stimulated hydrogen production, which leverages microbiology and existing infrastructure to produce clean hydrogen.

Gold H2 is a spinoff of another Houston biotech company, Cemvita.

“When we compare our tech to the rest of the stack, I think we blow the competition out of the water," Prabhdeep Singh Sekhon, CEO of Gold H2 Sekhon previously told Energy Capital.

The project represented the first-of-its-kind application of Gold H2’s proprietary biotechnology, which generates hydrogen from depleted oil reservoirs, eliminating the need for new drilling, electrolysis or energy-intensive surface facilities. The Woodlands-based ChampionX LLC served as the oilfield services provider, and the trial was conducted in an oilfield in California’s San Joaquin Basin.

According to the company, Gold H2’s technology could yield up to 250 billion kilograms of low-carbon hydrogen, which is estimated to provide enough clean power to Los Angeles for over 50 years and avoid roughly 1 billion metric tons of CO2 equivalent.

“This field trial is tangible proof. We’ve taken a climate liability and turned it into a scalable, low-cost hydrogen solution,” Sekhon said in a news release. “It’s a new blueprint for decarbonization, built for speed, affordability, and global impact.”

Highlights of the trial include:

  • First-ever demonstration of biologically stimulated hydrogen generation at commercial field scale with unprecedented results of 40 percent H2 in the gas stream.
  • Demonstrated how end-of-life oilfield liabilities can be repurposed into hydrogen-producing assets.
  • The trial achieved 400,000 ppm of hydrogen in produced gases, which, according to the company,y is an “unprecedented concentration for a huff-and-puff style operation and a strong indicator of just how robust the process can perform under real-world conditions.”
  • The field trial marked readiness for commercial deployment with targeted hydrogen production costs below $0.50/kg.

“This breakthrough isn’t just a step forward, it’s a leap toward climate impact at scale,” Jillian Evanko, CEO and president at Chart Industries Inc., Gold H2 investor and advisor, added in the release. “By turning depleted oil fields into clean hydrogen generators, Gold H2 has provided a roadmap to produce low-cost, low-carbon energy using the very infrastructure that powered the last century. This changes the game for how the world can decarbonize heavy industry, power grids, and economies, faster and more affordably than we ever thought possible.”

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