This post is a part of the Early Stage Climate Startup series from Climafix 2024
Highlights
- 280 Carbon valorizes CO₂ emissions through the production of ethylene (Starting point for polymers).
- Their electrochemical CO₂ conversion technology is a sustainable alternative to fossil fuel-based ethylene production.
2. Value Proposition
- CO₂ to Ethylene Conversion: 280 Carbon’s electrolysis technology converts captured CO₂ into ethylene, enabling significant decarbonization by replacing fossil fuel-derived ethylene. This process allows industries to monetize CO₂ emissions by producing polymers like HDPE and PVC.
- Scalable CO₂ Conversion: Their modular system is scalable to meet industrial needs and powered by renewable energy for cost efficiency.
3. Pain Points
- Valorizing Captured CO₂: 280 Carbon converts low-value captured CO₂ into high-value ethylene, providing a financial incentive for industries to adopt CCUS technologies.
- Reducing Fossil Fuel Dependency: Conventional ethylene production emits 1.5 tons of CO₂ per ton. 280 Carbon’s process eliminates these emissions by consuming CO₂, turning a polluting process into a sustainable solution.
4. Climate Impact
- CO₂ Reduction and Storage: 280 Carbon’s technology consumes and avoids up to 4.84 tons of CO₂ per ton of ethylene, offering a 600-gigaton decarbonization potential that reduces industrial emissions and supports long-term CO₂ storage.
- Utilizing Sequestered Carbon: The ethylene produced is used in HDPE and PVC, with applications in infrastructure, automotive, and consumer goods, sequestering carbon for up to 50 years.
5. Current & Future Target Segments
- Current Target Segments: Key sectors include plastics, consumer goods, and automotive, which have high ethylene demand. Currently, 280 Carbon is focused on reaching TRL 5 within the next 24 months through pilot projects that validate the techno-commercial viability of their product.
- Future Target Segments: By 2030, 280 Carbon aims to capture 0.64 MMT of India’s HDPE and PVC markets, targeting 600,000 tons of ethylene production.
6. USPs
- 280 Carbon’s efforts also create new revenue opportunities through carbon credits and technology licensing, offering clear economic and environmental advantages.
7. Team Profile
- Neville Patel (Founder & CEO): Over 10 years of experience as a successful entrepreneur with a focus on corporate finance, business strategy, and venture building. His previous ventures span industries such as IT consulting, sustainable products, and clean technology.
- Dr. Anand Kumar (CTO – Electrochemical Processes): Dr. Anand Kumar holds a Ph.D. in Chemistry and Materials Science from JNCASR, Bangalore, and specializes in electrochemical processes and CO₂ reduction technologies. He leads the R&D efforts at 280 Carbon, where he is responsible for developing the company’s core electrochemical CO₂ conversion technology. His research has focused on optimizing catalysts for high-efficiency electrolysis.