5 Companies Leveraging Technology to Achieve Carbon Neutrality
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Achieving net-zero by the year 2050 is nothing short of a meaningful endeavor, and several sectors are playing a crucial role in reaching it. With the help of technology, we can achieve carbon neutrality through coordination and cooperation. However, every industry has to take the initiative; this can’t be done by two-three companies.
Today, in this article, we will highlight those startups who took the initiative to start working towards carbon neutrality. Startups also think out of the box, and they don’t hesitate to experiment and take the risk. That’s why multi-billionaire companies invest in startups to unleash or develop new technologies.
Carbon Neutrality Technology: The Challenges
As per the International Energy Agency (IEA), most CO2 emission reductions through 2030 will come from current technologies on the market today. By the year 2050, almost half the reductions will come from solutions currently at the prototyping phase.
Edison International, a utility holding startup that provides electricity to 17+ million customers through its subsidiary. Edison International is looking across carbon neutrality technologies that help them to drive decarbonization within the electricity, building, and transport sectors. Drew Murphy, Senior Vice President of Strategy, said in a statement that “they are looking to collaborate with dynamic startups in the grid edge space, electric transportation, climate resilience space, and customer engagement.”
Dominion Energy, a Richmond, Virginia-based utility operating in 16 states, has set net zero-goals for their electricity and gas business. Mark Webb, Chief Innovation Officer of Dominion Energy, said that besides technologies, they are also looking for green hydrogen, Distributed Energy Resources (DER), energy efficiency startups to improve and maximize their performance, production, and customer experience/support.
However, these issues/problems can’t be solved by just a few big, game-changing startups. Instead, millions of small improvements and iterations will solve it, says Bradley Andrews, President at Worley, one of the largest energy services and engineering companies. “My advice to every startup is, you don’t have to be big, you just have to find one part where you can differentiate yourself in this energy transition, and that will be big enough,” said Bradley.
Also Read: Startup of the Week – Sequester (SQSTR)
5 Startups in The Carbon Neutrality Technology Space
- Veloce Energy
Headquarters: Los Angeles, CA.
Veloce Energy is setting an example of a startup by offering advanced technology to achieve zero carbon. They create modular and distributed energy storage (VPort) and communications systems. They also offer site control products and intelligent project automation to unlock the electrification of transportation.
- Energy Dome
Headquarters: Lonate Pozzolo, Lombardia, Italy
Energy Dome uses CO2 as a solution to solve climate change through ground-breaking long-duration energy storage. Their zero-carbon technology is based on a thermodynamic process that uses CO2 to store electricity cost-effectively with unprecedented round trip efficiencies.
Headquarters: Ithaca, New York, United States
Ecolectro is a specialty chemicals company, using chemistry to decarbonize transportation and industrial manufacturing. Its Alkaline Exchange Materials (AEMs) platform replaces perfluoro-sulfonic acid polymers (PFSAs), making electrochemical systems that make/store energy, chemicals, and fuels less expensive.
- Proof Energy
Headquarter: Fremont, United States
Proof Energy commercializes Fuel Cells 2.0. Its breakthrough metal-supported Solid Oxide Fuel Cell (SOFC) technology cost increases performance and zero carbon. It provides around 96% reduction in battery pack size and cost for medium and heavy-duty EVs.
- Ev Energy
Headquarter: London, England
Ev.energy provides utilities with managed EV charging services in the home. The software platform is hardware-agnostic and connects wirelessly to a range of hardware to maximize the total controllable load for utilities.
With these effective and bold commitments, the tech industry is paving the path for other startups, from global market players to local manufacturers, to take immediate actions to reduce their carbon footprint and make their practices more sustainable and important for the environment.