Shell GameChanger Accelerator Selects Three Energy Transition Companies
Shell Announces New Participants in GameChanger Accelerator
Shell, a leading European oil and gas company, recently revealed the newest group of companies chosen for its Shell GameChanger Accelerator (GCxN) program.
This initiative is specifically designed to support businesses that are developing technologies aimed at facilitating the shift away from reliance on fossil fuels.
Support for Commercialization
The selected companies will be granted access to Shell’s technical expertise and resources. This support is intended to accelerate their progress towards successful commercialization.
Haibin Xu, the GCxN program manager at Shell, stated that the fourth cohort of GCxN will demonstrate the potential of electrochemical technologies to replace older, carbon-intensive industrial processes.
As the cost of renewable energy continues to decrease, collaborative efforts and partnerships across industries will be crucial for scaling these technologies effectively and achieving tangible results.
Financial and Network Support
Shell’s accelerator program offers startups up to $250,000 in non-dilutive funding.
Companies are initially nominated through Shell’s network of partners, including incubators, accelerators, and universities, before undergoing a rigorous screening process conducted by Shell and NREL.
Program Impact to Date
According to a recent announcement, previous participants in the program have collectively raised $52 million in funding.
Furthermore, these graduates have contributed to the growth of the green economy by creating 51 new employment opportunities.
Focus on Carbon Emission Reduction
Each company within the new cohort is dedicated to developing solutions for reducing carbon emissions in sectors that are particularly challenging to decarbonize.
These are industries where transitioning to more sustainable practices presents significant hurdles.
The Latest Startups
Here are the companies receiving support from Shell in this latest round:
- Air Company – Based in Brooklyn, this company transforms carbon dioxide into a range of products, including alcohols, spirits, fragrances, sanitizers, and consumer goods. Their long-term goal is to enter the synthetic fuel market.
- Ionomr Innovations – This Vancouver-based company focuses on producing more affordable and environmentally friendly ion-exchange membranes and polymers. These components are essential for green hydrogen production, hydrogen fuel cells, and carbon capture technologies.
- Versogen – Originating from Delaware, the company, previously known as W7 energy, is developing high-performance hydroxide exchange membranes to lower the cost of fuel cells.
Restructuring Essential Building Blocks
Katie Richardson, GCxN program manager at the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL), emphasized the dependence of modern life on specific materials and fuels.
She noted that the American manufacturing industry is projected to become the largest source of greenhouse gas emissions in the United States within the next decade.
Richardson highlighted that the selected GCxN startups are working to fundamentally change the composition of essential goods and services to minimize their carbon footprint.
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