SAN FRANCISCO--(BUSINESS WIRE)--#CDL--AirMiners, the leading community of innovators on a mission to reverse climate change, has taken a bold step forward with the closing of its Kiloton Fund.
Following a competitive application process, AirMiners has finalized its Kiloton Fund Selections—20 pioneering startups building technologies that span direct air capture, enhanced rock weathering, ocean-based removal, biochar, and utilization.
Each team received an investment in exchange for a small share of future revenue. It's a new funding model that AirMiners is piloting to complement equity investments—critical at a time when capital is getting scarcer and the world needs more innovations to succeed. The learnings will lay the groundwork for a larger Megaton Fund, designed for even greater impact.
Additionally, Shopify is offering each selected team a $100K purchase to further validate their potential and fast-track commercialization.
"We're thrilled to close the Kiloton Fund with such a strong cohort of startups," said Tito Jankowski, CEO of AirMiners. "The added support from Shopify proves the importance of this new funding model and the quality of the teams. AirMiners is here to help push these innovations forward and realize our shared vision of reversing climate change."
"We can't forget about the next generation of carbon removal startups," said Mitch Selby, Shopify Sustainability Fund Lead. "Just like the companies ahead of them, they need funding and purchases to give them time to de-risk their technologies. That's why we're excited to partner with AirMiners on their Kiloton Fund, to boost a new funding model and offer a purchase to each stellar company that was selected."
As part of its vision for reversing climate change, AirMiners provides innovators with the support to rapidly scale their business through networking, education and investment, with the ultimate goal of enabling the removal of one billion tons of carbon dioxide by 2030.
AirMiners is hosting an overview of the Kiloton Fund on Thursday, September 19, 2024 at 8 AM PST (11 AM EST). To attend, register here. After the event, watch the recording here.
2024 Kiloton Fund Teams
For the overview of the winners visit
Direct Air Capture:
Airhive – UK
Gaia Refinery – Canada
Heimdal – USA
Octavia Carbon – Kenya
Phlair - Germany
Sirona – Kenya, Belgium
Enhanced Rock Weathering:
Alkali Earth – USA
Planeteers – Germany
Scape – USA
Scaled Carbon – USA
Ocean-based Removal:
Lillianah – USA, Canada
Samudra Oceans – UK, Jamaica, Scotland
SeaGen – UK, USA, Mexico
Sinkco Labs – Denmark
Biochar:
Biosorra – Kenya
Takachar – India, Kenya
HyveGeo – UAE
Carbon Lock Tech – Canada
Utilization:
Carbon Limit – USA
ABOUT AIRMINERS
AirMiners provides the catalytic infrastructure for innovators working to remove a billion tons of carbon dioxide by 2030. To learn more visit , or follow on Twitter @airminers or LinkedIn.
ABOUT SHOPIFY
Shopify is the leading global commerce company that provides essential internet infrastructure for commerce. Through its Sustainability Fund, Shopify supports tech-driven entrepreneurs building solutions to reverse climate change Shopify is one of the largest corporate purchasers of durable carbon removal globally, having contributed over $70M to date.
Contacts
FOR MORE INFORMATION:
Marie Domingo
marie@mariedomingo.com
(650) 888-5642
Stacy Williams
stacy.williams@twoworlds.biz
(970) 819-0839
For AirMiners
