Country for PR: United States
Contributor: PR Newswire New York
Wednesday, December 08 2021 - 03:57
Third Derivative and the Grantham Trust Launch First Gigaton Captured to Accelerate Carbon Capture Innovations
BOULDER, Colo., Dec. 8, 2021 /PRNewswire-AsiaNet/ --

Today, Third Derivative (D3) ( 
), a global climate technology startup accelerator, announced a new four-year 
partnership with The Jeremy and Hannelore Grantham Environmental Trust ( 
) --  a leader in catalytic climate funding and environmental protection. The 
partnership, First Gigaton Captured ( 
), will work to find, fund, and scale the most promising Carbon Removal 
startups through a joint effort aimed to massively scale breakthrough negative 
emissions technologies. 

Third Derivative aligns the world's most promising climate tech startups with 
focused investors, corporate partners, and market experts to increase the 
success and speed to market of these innovations. The launch of First Gigaton 
Captured will support the rapid deployment of viable carbon removal solutions 
to full commercial adoption with a dedicated Carbon Capture Cohort of startups 
admitted to D3's program in 2022.

"Innovation and technology are our only hopes for solving climate change and 
building a sustainable future. At the Grantham Foundation, we believe that 
early stage startups are the most potent force for innovation. Launching First 
Gigaton Captured with Third Derivative will push forward climate technology and 
commercialize carbon capture faster -- it's the kind of initiative that is 
absolutely needed," says Jeremy Grantham. 

According to an Intergovernmental Panel on Climate Change (IPCC) special report 
) on the impacts of global warming, we may need to remove 2-20 billion tons of 
CO2 from our atmosphere per year, starting in 2050 to prevent further 
catastrophic climate damage. To achieve this staggering level of annual 
drawdown, we must fast-track every safe, cost-effective and scalable approach 
possible to directly pull CO2 out of the air. As part of this portfolio of 
negative emissions technologies, direct-air-capture is a critical "insurance 
policy" given its potential to pull gigatons of CO2 directly from the 
atmosphere every year and lock it up in permanent, sequestered storage.

But the primary challenge with durable carbon removal solutions like DAC is 
that these approaches are still new and far too expensive to scale--which First 
Gigaton Captured is committed to addressing.

The goal of this new initiative? Work to reduce the cost of durable carbon 
removal to less than one hundred dollars per ton and provide the necessary 
support to help the world's best carbon removal innovations achieve 
gigaton-scale carbon capture by 2050. This is an ambitious aim, but with the 
right stakeholders, D3 believes it is possible to greatly accelerate the 
implementation of these new technologies through an ecosystem-focused approach 
to accelerating climate innovations.

Key elements of the First Gigaton Captured partnership include: 

    1. Leveraging the expertise of Third Derivative (D3) and the RMI to
       deliver a body of research that finds and highlights the most promising
       carbon capture and removal pathways. 
    2. Launching a deeply-resourced D3 Carbon Capture Cohort in 2022,
       supporting the market's most-promising carbon capture startups with
       deployable and high impact solutions. This will include scientific
       and market experts to support technical advancement and direct funding
       opportunities to help startups advance their systems to integrated
       pilot scale.  
    3. Unlocking a significant amount of catalytic capital to accelerate
       the technical development of high impact DAC solutions, including
       funding proof-of-concepts, pilots, and first-of-a-kind commercial
    4. Cultivating the market demand for high quality carbon removal with
       leading corporate partners.

In addition to the Grantham Trust partnership, Third Derivative is also excited 
to introduce their newest cohort of startups at their Second Annual Global 
Summit ( 
) on December 7-8, 2021, with the first day open to the public. Cohort 419 ( 
) includes 16 impressive startups chosen from over 200 applicants. More than 
half of this year's startups have diverse representation among senior 
leadership -- a metric D3 is committed to continuously improving and growing. 
This new group of 16 startups joins the 46 current climate tech startups 
currently in Third Derivative's global accelerator program.

"The role of accelerator programs, investors, and innovators as leaders in the 
mission to combat the climate crisis is more important than ever. The D3 and 
Grantham Trust partnership is a tremendous move in the right direction to find 
and fund startups with negative emissions technologies," says Danny Kennedy, 
CEO of New Energy Nexus and D3 Board Chair. 

D3 is always looking for new startups to join the accelerator program. If you 
have an innovative idea to help address emissions challenges, you can apply for 
Third Derivative's general cohort here. Applications for the Carbon Capture 
Cohorts will open in Q1 of 2022.

If you're a corporate partner, technical advisor, or investor interested in 
helping to find, fund, and scale the most promising carbon capture startups, 
please fill out this contact form to express your interest here. 

D3 is hopeful that this initiative will accelerate the speed of carbon capture 
innovation and deployment, supporting the path to gigaton-scale capture by 2050.

About Third Derivative 

Founded in 2020 by RMI and New Energy Nexus, Third Derivative (D3) is 
accelerating the rate of climate innovation. D3's inclusive ecosystem rapidly 
finds, funds, and scales climate tech globally. By uniting and aligning 
committed investors, large corporations, and market and policy experts with the 
world's most promising climate tech startups, D3 bridges finance and resource 
gaps to increase the speed to market. D3's flexible and highly curated 
accelerator program enables startups to focus on their unique needs and 
opportunities. Together, we are moving markets to achieve an equitable climate 

For more information, visit

About The Jeremy and Hannelore Grantham Environmental Trust 

The Jeremy and Hannelore Grantham Environmental Trust is a public charity and 
509(a)(3) supporting organization focused on reducing and reversing global 
environmental degradation. Its independent trustees are the CEOs of Rare, The 
Nature Conservancy, World Wildlife Fund US and Rocky Mountain Institute. The 
Grantham Foundation and Grantham Trust invest to redesign our energy systems; 
to improve soil health; to spare the ocean from acidification and recapture 
carbon from the atmosphere.

To learn more, visit

Media Contact 
Libby Dugan |

SOURCE  Third Derivative