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Q&A: Energy leader on key trends, future of industry, and Houston's role in it all

podcast interview

Houston energy leader Barbara Burger joins the Houston Innovators Podcast to discuss the energy transition's biggest challenges and her key takeaways from CERAWeek. Photo courtesy of CERAWeek

Last month, Barbara Burger participated in four panels at CERAWeek by S&P Global, and from her insider perspective, she had a few key takeaways from the event, which brought together energy leaders, tech startups, dignitaries, civil servants, and more.

In a recent podcast interview, Burger shared some of her key takeaways from the event — and how these trends are affecting the industry as a whole. Read through an excerpt or stream the full episode below.



Houston Innovators Podcast: I think most of the Houston energy world knows who you are, namely from your role leading Chevron Technology Ventures, which you left a few years ago now. So catch us up on what life looks like for you lately. I know you’re involved with a lot of organizations, so break down how you distribute your time with all of them?

Barbara Burger: The last two years since I left Chevron, I’ve built this portfolio of really interesting roles. Having been an executive for so long — executives are in there, doing stuff for the company — now, I’m an adviser or director at the company level, at the investor level, and at an investment bank, all in energy transition.

I have some challenges I want to work on that are really important to me — and those tend to not be in the for-profit space in education and performing arts.

I have some informal roles that I found I really enjoy — I mentor a wide variety of people. I have time to learn changes amid the energy transition and to attend conferences.

HIP: One of those conferences was CERAWeek last month. Why was that one important to Houston and what were your key takaways?

BB: CERAWeek is known as the "Super Bowl of Energy." It’s been going on for 40 years and really shows you the trends in energy across so many different dimensions. There’s so much in energy and you can get in your own narrow silo of working on something, and CERAWeek is an opportunity to actually see the bigger picture.

One takeaway was that it was a very practical approach. We need an energy system that focuses on climate, the economy, security — a lot of this is just the block and tackling of engineering, policy, economics, and community engagement. I think it was a practical discussion.

The other is that everybody has woken up and realized that our load growth — our demand — is growing, and because of all kinds of things pointing toward electrification. I think that the big one in the room was AI and the power demands for it.

It’s not just about the innovation — it’s really about scaling that innovation and that execution, because that’s when we get impact, when these technologies are actually used in the energy system, and when we create new businesses. It’s going to take investment, capabilities, a real understanding of the marketplace, and, in many cases, it’s going to take a relationship with the government.

Philanthropists were there, but I wish I'd seen more of a presence from private equity. Every year I see more people from outside of what I would call the conventional energy industry, and I think that’s really good.

There’s a lot pools of capital, and they’re different and siloed, and they even use different vocabulary. Making those transitions is really important. That’s where I think the private equity investors play a role here, and venture and private equity — those are two different places, but we’re starting to see collaboration between them.

HIP: The United States Department of Energy had a notable presence at CERAWeek this year. What do you think about the organization's efforts and recent approach to 

BB: In years gone by, DOE funding was much more focused on early stuff — research and development. We all know that if you cannot scale and put technologies into operation, you do not get the impact. So the DOE has developed programs to focus and deployments.

They aren’t trying to replace private capital, but they are trying to be catalytic — which is also a role philanthropists are doing. Go in where the market won’t make the right call to buy down some of the uncertainty. They've been really collaborative and have skin in the game on this one.

HIP: What keeps you up at night when you think of the future of energy?

BB: One of the biggest risks is that we do not act fast enough, and what I mean is that we somehow convince ourselves that we do not need to evolve — and that’s as companies, as a nation, or as a globe.

We’ve made tremendous progress in 10 years. But I believe that in 2050 that we will look back and say, "why didn’t we start earlier and why weren’t we consistent with our actions." The energy transition gets politicized, and we don’t move with conviction.

HIP: What about the role Houston plays in all of this?

BB: I've been bullish on Houston in the energy transition. I moved here 11 years ago, and I had no companies in my portfolio in CTV from Houston, and I wondered why. There are a few things I’m proud of in the ecosystem here, and one of theme is that it’s a very inclusive ecosystem — and I mean that there's all different startups — student founded, operator founded, and incumbent companies at the table, but the worst way to get people to not join a party is to not invite them.

No one company or organization is going to solve this. We have to get along. We have to stop thinking that the mode is to compete with each other because the pie is so big and the opportunity is so big to work together — and by and large I do see that happening.

This year’s CERAWeek occurred during an inflexion point in the U.S.’s conversation around decarbonization. Photo by Natalie Harms/InnovationMap

Clean energy founder shares key takeaways from CERAWeek 2024

guest column

Earlier this month, thousands converged on Houston for one of the world’s largest energy conferences – CERAWeek 2024. For five days global leaders, CEOs, oil and gas experts, and the industry’s top stakeholders gathered to provide insight, and discuss solutions, to some of the biggest questions on the future of energy.

Just this week, on the heels of the conference, it was hugely encouraging to see the U.S. Department of Energy (DOE) announce up to $6 billion for 33 projects across more than 20 states to decarbonize energy-intensive industries and reduce industrial greenhouse gas emissions. The announcement underscored the vitally important, and yet largely untapped role that industrial carbon capture must play in reaching the U.S.’s overall decarbonization goals. This must include significant point-source technology onsite at hard-to-abate industrial emitters like cement, metals and chemicals. The DOE announcement makes that priority clear, with the focus of the two largest grants for cement decarbonization projects going to carbon capture, each up to $500 million.

This was one of the major takeaways at this year’s CERAWeek: despite the success of the IRA, if we are to achieve the rapid scaling required to tackle emissions coming from hard-to-abate sectors, and now is the time to move rapidly into deployment, beginning with carbon capture demonstrations at industrial sites. Through our work with Chevron on the development of a carbon capture pilot for our CycloneCC technology on a gas turbine in San Joaquin Valley, California, we are proud to be doing exactly that.

While Carbon Clean has been active in the U.S. for several years, we chose to unveil our new Houston headquarters during last year’s CERAWeek, selecting the energy capital of the world for our U.S. home. With this increased focus on industrial decarbonization, the opportunities for carbon capture deployment in the U.S. – and more specifically Greater Houston – have significantly expanded. Since first opening the U.S. headquarters in Houston last year, we have grown our headcount by two-thirds and seen U.S. inquiries for our modular, point-source carbon capture solutions skyrocket by a further 59% (and this is after the initial leap in interest following the IRA’s passage).

Still, while a lot has been accomplished over the past year, we recognize that a lot more needs to be done to meet the country’s net zero targets, particularly in the space of industrial decarbonization. This was another takeaway at this year’s CERAWeek, a recognition that many industrial leaders have adopted ambitious net-zero goals but have no plans for implementation.

In conversations with many of this year’s conference attendees, one thing became abundantly clear: yes, the IRA was a breakthrough moment that provided key incentives for companies to enter the carbon capture space and develop the kinds of decarbonization technology that will reduce emissions. However, that only gets us half of the way there: we need to foster a market for the demand of clean industrial production, using the IRA as the vehicle to create that supply. Through the allocation of credits and increased pricing power, we can generate more demand from industrial emitters to embrace the kinds of technology that will enable them to reach net-zero.

Another critical next step: when it comes to adopting local industrial carbon capture projects, accelerate permitting by letting the states decide for themselves. The EPA’s recent decision to grant Louisiana the power to approve carbon capture projects could open the door to a wave of new project applications and additional states seeking the same authority.

If you want an example of a local economy poised to greatly benefit from expanded access to industrial carbon capture, look no further than Houston. With its energy expertise and local resources, Greater Houston is uniquely positioned to take full advantage of carbon capture’s promise, which will not only reduce the region’s emissions but grow jobs.

A recent study by the EFI Foundation, supported by Carbon Clean, identified Houston as an ideal location for a new coordinated regional approach to industrial carbon capture hubs. Previously, most studies on deployment focused on decarbonizing large emitters - the EFI report is focused on small-to-midsize emitters, as they account for 25 percent of America’s industrial emissions but are often overlooked given the cost and space barriers that have historically been barriers to the mass adoption of industrial carbon capture units.

Today, there are 311 facilities in the Houston cluster that fit the bill, representing 36.6 million metric tons of capturable CO2 emissions per year. Given that the region employs nearly a third of the nation’s jobs in oil and gas extraction alone, allowing multiple local emitters access to shared CO2 transport and storage would create a scalable solution at a lower cost. The business community should embrace the findings of this report, unlocking a key tool in combating local emissions, while also sustaining Houston’s workforce.

This year’s CERAWeek occurred during an inflexion point in the U.S.’s conversation around decarbonization. While a lot of progress is underway, it is imperative that energy leaders and the business community fully leverage industrial carbon capture technology if they are serious about reducing emissions at the source. Failure to do so recalls the aphorism by Benjamin Franklin: "Failing to plan is planning to fail.”

———

Aniruddha Sharma is the co-founder and CEO of Carbon Clean.

Looking back on CERAWeek 2024 — and more things to know this week. Photo courtesy of CERAWeek

CERAWeek in review, a podcast to stream, and more things to know in Houston energy transition this week

take note

Editor's note: Dive headfirst into the new week with three quick things to catch up on in Houston's energy transition: a roundup of events not to miss, a podcast to stream, and more.

CERAWeek in review

Last week, we wrapped up the top five themes of CERAWeek on EnergyCapital, including geothermal, the rise of AI, and more.

Let's look back on all the articles from the conference, in case you missed it:

Podcast to stream: Sean Kelly of Amperon

Sean Kelly says he didn't seek to start a clean tech company. He saw a need and opportunity for more accurate energy forecasting, and he built it.

But Amperon has made it on lists highlighting energy transition innovation on more than one occasion — and caught the eye of renewable energy giants.

"We don't brand ourselves as a clean tech company," Kelly, CEO and co-founder of Amperon, says on the Houston Innovators Podcast, "but we have four of the top six or eight wind providers who have all invested in Amperon. So, there's something there."

The technology that Amperon provides its customers — a comprehensive, AI-backed data analytics platform — is majorly key to the energy industry and the transition of the sector. Read more.

Events not to miss

Put these Houston-area energy-related events on your calendar.

  • The Digital Wildcatters is hosting its Energy Tech Night in Houston on April 17. Register.
  • On April 17, the University of Houston presents "Gulf Coast Hydrogen Ecosystem: Opportunities & Solutions" featuring experts from academia, industry, government, and more. The symposium begins at 8 am with a networking reception takes place beginning at 5 pm at the University of Houston Student Center South - Theater Room. Register.
  • Offshore Technology Conference returns to Houston May 6 to 9. Register.

Here are five things to know from CERAWeek this year. Photo courtesy of CERAWeek

Hot rocks, AI, and more — 5 themes and takeaways from CERAWeek 2024 in Houston

things to know

The 2024 edition of CERAWeek by S&P Global wrapped up last Friday in Houston, and a handful of themes emerged as topical and disruptive amid the energy transition.

Here are five takeaways from the conference, according to EnergyCapital reporting.

Funding the energy transition continues to be a challenge.

Photo courtesy of CERAWeek

The biggest obstacle to the energy transition is — and might always be — funding it. A panel at Agora on Thursday, March 21, moderated by Barbara Burger set out to discuss the role of venture capital amid the future of energy.

Daniel Goldman, managing partner at Clean Energy Ventures, said that the first plants for these new, revolutionary technologies are going to be more expensive than its subsequent plants.

"But you have to built it," Goldman says. "'First of a kind' can be very different from the end plant, because you need to manage risk. ... But those first plants are going to be quite costly, and you're going to have to recognize that as an investor."

Microsoft and Breakthrough Ventures Founder Bill Gates would address this in his talk later that day, pointing out that traditional infrastructure investors are used to knowing what a plant would cost before its built. But in clean tech, outside of solar and wind, there's too much unknown to give the estimation those investors are looking for.

"Nothing's at the maturity level that you can do that," Gates says.

The DOE's role of de-risking green tech.

Photo courtesy of CERAWeek

The United States Department of Energy had a significant presence at CERAWeek, with Secretary of Energy Jennifer M. Granholm making two major announcements on Monday, March 18, the first day of the conference. One of the announcements was the DOE's latest Pathways to Commercial Liftoff report, which are initiatives established to provide investors with information of how specific energy technologies commercialize and what challenges they each have to overcome as they scale.

"We develop these Liftoff Reports through a combination of modeling and hundreds and hundreds of interviews with people across the whole investment lifecycle—from early-stage capital to commercial banks and institutional investors," Granholm says in her address, announcing geothermal energy as the subject of the ninth report.

Intended to "create a common fact base and a tool for ongoing dialogue with the private sector on the pathways to commercial liftoff," according to the DOE, these reports can be instrumental for enterprises in the field.

A panel at Agora on Thursday, March 21, featuring geothermal energy innovators discussed the impact of the report. Tim Latimer, CEO and founder of Houston-based Fervo Energy, says the report included details from his company's work.

To Latimer, the report showcases geothermal energy's ability to compete from a cost perspective.

"I think geothermal is already winning that cost discussion," Latimer says. "You're talking about $45 per megawatt hour unsubsidized cost for round-the-clock, 24/7 carbon-free energy. I think that's an achievable ambition the DOE set out, and I think it's an unbeatable value proposition.

Hot topic: Geothermal energy.

Photo courtesy of CERAWeek

Geothermal energy was discussed throughout the week following Granholm's address, in part because of its expected cost efficiency, but also because it's a type of energy that should provide a smooth transition from traditional oil and gas.

John Redfern, CEO of Eavor Technologies, global geothermal technology company headquartered in Canada, says on the geothermal panel that the geothermal industry can build off existing infrastructure.

"Most of it is building blocks that we're recycling from the oil industry — resources, people, technologies," Redfern says. "So, it's more about implementing rather than inventing some new, novel product."

Latimer agrees, adding that Fervo "is fully in the deployment phase."

"The breakthrough needed to make geothermal ready for primetime have already happened," Latimer says.

AI is everywhere — especially the energy transition.

Photo courtesy of CERAWeek

The topic of artificial intelligence was everywhere, so much that by Thursday, panelists joked about every discussion including at least one mention of the technology.

Gates was one speaker who addresses the subject, which isn't all too surprising, since Microsoft owns a portion of OpenAI, which created ChatGPT. One thing left to be known is how directly AI will affect the energy transition — and on what timeline.

AI's current applications are within white collar activities, Gates explains, citing writing a regulatory permit or looking at evidence in a lawsuit. He explains that current AI capabilities could continually grow or remain stagnant for a while, he isn't sure.

"The thing that’s daunting is we don’t know how quickly it will improve," he adds.

Gates didn't comment on energy specific AI applications but noted that AI has advanced far past robotics, which would target blue collar roles.

Big tech sees green.

Photo courtesy of CERAWeek

And speaking of AI, big tech companies have been making moves to lower carbon footprints, and that was made clear by the activations at CERAWeek. Microsoft and Amazon each had designated houses at the conference, alongside Oxy, Chevron, Aramco, and other traditional energy players.

At Microsoft, Houston-based Amperon, which recently announced a partnership with the tech company, presented and pitched their company. The Microsoft and Amazon houses showcased each company's low-carbon technologies.

Here's what student-founded startups are leaving CERAWeek with fresh funding. Photo courtesy of HETI

Houston clean tech startup pitch competition awards prizes at annual CERAWeek event

big winners

For the third year, the Greater Houston Partnership's Houston Energy Transition Institute hosted its startup pitch competition at CERAWeek by S&P Global. A dozen startups walked away with recognition — and three some with cash prizes.

HETI joined partners Rice Alliance for Technology and Entrepreneurship and TEX-E for the 2024 Energy Venture Day and Pitch Competition at CERAWeek on Wednesday, March 20. Forty-two companies, which have collectively raised over $265 million in investment funding already, pitched to judges. Nine startups won awards across three tracks.

TEX-E, a Texas nonprofit that supports student-founded upstarts, had five of its companies pitch and three winners walked away with monetary prizes. Teams that competed in the TEX-E Prize track, many of which come from Houston universities, include:

  • AirMax, University of Texas at Austin
  • BeadBlocker, University of Houston
  • Carvis Energy Solutions, Texas A&M University
  • Coflux Purification, Rice University
  • Solidec, Rice University

Solidec, which is working on a platform to produce chemicals from captured carbon, won first place and $25,000. The company also recently scored a $100,000 grant from Rice's One Small Step Grant program, as well as a voucher from the DOE. Coflux Purification, which has a technology that destroys PFAS in filtration, won second place and$15,000. The company also secured a One Small Step Grant to the tune of $80,000. AirMax, which focuses on optimizing sustainability for air conditioning equipment, won third place and $10,000.

Last year, Houston-based Helix Earth Technologies took home the top TEX-E price and $25,000 cash awards. The venture, founded by Rawand Rasheed and Brad Husick from Rice University, developed high-speed, high-efficiency filter systems derived from technology originating at NASA.

The rest of the companies that pitched competed for non-monetary awards. Here's what companies won:

  • Group A (CCUS, oilfield solutions, analytics and minerals):
    • First place: Ardent
    • Second place: Vaulted Deep
    • Third place: Mitico
  • Group B (batteries, renewables, water, and grid technology):
    • First place: SungreenH2
    • Second place: FeX Energy
    • Third place: Mercurius Biorefining
  • Group C (Mobility, Materials, and hydrogen solutions)
    • First place: Thiozen
    • Second place: Power2Hydrogen
    • Third place: Arolytics
  • People's choice: Decimetrix
HETI, Rice Alliance, and TEX-E celebrated the winners at a private reception on Wednesday evening.

———

This article originally ran on InnovationMap.

U.S. Secretary of Energy Jennifer M. Granholm made two big announcements at her CERAWeek address. Photo via Jennifer Granholm/X

DOE announces geothermal initiative, community-focused pilot at Houston energy conference

keynote address

The Department of Energy announced two major initiatives at U.S. Secretary of Energy Jennifer M. Granholm's address earlier this week at CERAWeek by S&P Global.

The first announcement Granholm revealed on Monday, March 18, at her keynote address was the DOE's latest Pathways to Commercial Liftoff report, which are initiatives established to provide investors with information of how specific energy technologies commercialize and what challenges they each have to overcome as they scale.

"We develop these Liftoff Reports through a combination of modeling and hundreds and hundreds of interviews with people across the whole investment lifecycle—from early-stage capital to commercial banks and institutional investors," Granholm says in her address.

The DOE has released eight already, and the ninth — and Granholm's favorite, she says — is on geothermal energy.

"Geothermal has such enormous potential. If we can capture the 'heat beneath our feet,' it can be the clean, reliable, base-load scalable power for everybody from industries to households," she says.

Geothermal development requires similar skills and infrastructure to traditional oil and gas, meaning the transition should be smooth, she explains, adding that the market is huge for geothermal.

"At scale, this market is significant: We're talking about at least—at least—a $250 billion investment opportunity to meet the goal that we have of 90 gigawatts of capacity by 2050," she remarks.

Granholm's address shifted into acknowledging the negative impact on communities the energy industry's history is paved with. She emphasizes how each of the Biden Administration's laws passed — like the Inflation Reduction Act and the Bipartisan Infrastructure Law — implemented requirements and incentives with communities in mind.

The administration's next initiative, and Granholm's second big announcement, is "to empower communities to build their energy future."

Regional Energy Democracy Initiative, or REDI, as Granholm describes, will "bring together companies, and community groups, and academic institutions, and philanthropy to weave equity and justice into DOE-funded clean energy projects."

The inaugural pilot will be in the Gulf South across Texas and Louisiana. She says the DOE plans to award over $8 billion to regional carbon reduction and clean energy infrastructure projects.

"These structures will provide capacity building, technical assistance to help communities match their most pressing needs with the biggest opportunities…to design and to implement Community Benefits Plans," Granholm says, "in short, really to have a say in how the historic clean energy investments in their backyards are going to benefit their people."

Granholm also noted on the progress of the clean energy sector, including how clean energy investment is three times what it was in 2018 and that in 2024, wind and solar energy in the U.S. is expected to outpace coal generation for the first time.

All this progress, Granholm explains, in light of global events and global energy supply disruption

"But our work together really has to extend beyond crisis management," she says. "Because the sooner that we acknowledge this transition for what it is—an undeniable, inevitable, and necessary realignment of the world’s energy system—the sooner we can capitalize on this incredible opportunity."

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Houston energy pioneer elected to National Academy of Sciences leadership

top honor

Naomi Halas, a Rice University professor and co-founder of Syzygy Plasmonics, was elected to the Council of the National Academy of Sciences this month.

The council sets priorities for the nonprofit organization, which advises the federal government on scientific and technical matters. Halas will serve a three-year term on the council, beginning July 1.

“The council’s work is focused on the academy’s national leadership and governance,” Halas said in a news release. “It plays an important role in helping set initiatives and priorities for the scientific community, and in supporting the conditions that allow science to move forward in meaningful ways.”

Halas is best known for her pioneering work in nanophotonics and plasmonics. She helped develop nanoshells, or metal-coated nanoparticles that capture light energy, which have led to innovations in renewable energy, cancer therapy and water purification.

Halas co-founded Syzygy Plasmonics with frequent collaborator and fellow Rice professor Peter Nordlander. The company is developing low-cost, light-driven, all-electric chemical reactors for the sustainable production of hydrogen fuel. It was named to Fast Company's energy innovation list last year.

Syzygy Plasmonics is developing its first commercial-scale biogas-to-sustainable aviation fuel project in Uruguay, known as NovaSAF-1. It secured a six-year offtake agreement for the entire production from the project with Singapore-based commodity company Trafigura this month.

Halas was first elected to become a member of the NAS in 2013, and was shortly after named to the National Academy of Engineering in 2014—making her one of the few scientists to hold both distinctions. She received the Benjamin Franklin Medal in Chemistry last year. Many scientists who have received the award have gone on to win Nobel prizes.

She is also the co-founder of Nanospectra Biosciences and a member of the National Academy of Inventors, the American Academy of Arts and Sciences, and the Royal Danish Academy of Science and Letters. She holds more than 25 patents, according to Rice.

Houston startup launches groundbreaking mineral hydrogen pilot

pilot project

Houston climatech company Vema Hydrogen recently completed drilling its first two pilot wells in Quebec for its Engineered Mineral Hydrogen (EMH) pilot. The company says the project is the first EMH pilot of its kind.

Vema’s EMH technology produces low-cost, high-purity hydrogen from subsurface rock formations. It has the capacity to support e-fuel and clean mobility industries and the shipping and air transport markets. The pilot project is the first field deployment of the company’s technology.

“This pilot will provide the critical data needed to validate Engineered Mineral Hydrogen at commercial scale and demonstrate that Quebec can lead the world in this emerging clean energy category,” Pierre Levin, CEO of Vema Hydrogen, said in a news release.

Levin added that the sample collected thus far in the pilot is “exactly what we expected, and is very promising for hydrogen yields.”

Through the pilot, Vema will collect core samples and begin subsurface analysis to evaluate fluid movement and monitor hydrogen production from the wells. The data collected from the pilot will shape Vema's plans for commercialization and provide documentation for proof of concept in the field, according to the news release.

“Vema Hydrogen perfectly embodies the spirit of the grey to green movement: transforming mining liabilities into drivers of innovation and ecological transition,” Ludovic Beauregard, circular economy commissioner at the Thetford Region Economic Development Corporation, added in the release.

“This project demonstrates that it is possible to reconcile the revitalization of mining regions, clean energy and sustainable economic development for these areas.”

In addition to its pilot in Canada, Vema also recently signed a 10-year hydrogen purchase and sale agreement with San Francisco-based Verne Power to supply clean hydrogen for data centers across California. The company was selected as a Qualified Supplier by The First Public Hydrogen Authority, which will allow it to supply clean hydrogen at scale to California’s municipalities, transit agencies and businesses through the FPH2 network.

Vema aims to produce Engineered Mineral Hydrogen for less than $1 per kilogram. The company, founded in 2024, is working toward a gigawatt-scale hydrogen supply in North America.

Houston startup wins funding through new Bezos Earth Fund initiative

global winner

A Houston-based climatech startup is one of the first 16 companies in the world to receive funding through a new partnership between The Bezos Earth Fund and The Earthshot Prize.

Mati Carbon will receive $100,000 through the Bezos Earth Fund’s Acceleration Initiative. The initiative will provide $4.8 million over three years to support climate and nature solutions startups. It's backed by The Bezos Earth Fund, which was founded through a $10 billion gift from Amazon founder Jeff Bezos and aims to "transform the fight against climate change."

The Acceleration Initiative will choose 16 startups each year from The Earthshot Prize’s global pool of nominations that were not selected as finalists. The Earthshot Prize, founded by Prince William, awards £1 million to five energy startups each year over a decade.

"The Earthshot Prize selects 15 finalists each year, but our wider pool of nominations represents a global pipeline of innovators and investable solutions that benefit both people and planet. Collaborating with the Bezos Earth Fund to support additional high-potential solutions is at the heart of commitment to working with partners who share our vision," Jason Knauf, CEO of The Earthshot Prize, said in a news release. "By combining our strengths to support 48 carefully selected grantees from The Earthshot Prize’s pool of nominations, our partnership with the Bezos Earth Fund means we will continue to drive systemic change beyond our annual Prize cycle, delivering real-world impact at scale and speed.”

Mati Carbon was founded in 2022 by co-directors Shantanu Agarwal and Rwitwika Bhattacharya. It removes carbon through its Enhanced Rock Weathering (ERW) program and works with agricultural farms in Africa and India. Mati Carbon says the farmers it partners with are some of the most vulnerable to the impacts of climate change.

"As one of the first 16 organizations selected, this support enables us to expand our operations, move faster and think bigger about the impact we can create," the company shared in a LinkedIn post.

The other grantees from around the world include:

  • Air Protein Inc.
  • Climatenza Solar
  • Instituto Floresta Viva
  • Forum Konservasi Leuser
  • Fundación Rewilding Argentina
  • Hyperion Robotics
  • InPlanet
  • Lasso
  • Mandai Nature
  • MERMAID
  • Asociación Conservacionista Misión Tiburón
  • Simple Planet
  • Snowchange Cooperative
  • tHEMEat Company
  • UP Catalyst

Mati Carbon also won the $50 million grand prize in the XPRIZE Carbon Removal competition, backed by Elon Musk’s charitable organization, The Musk Foundation, last year.

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