Next level impact financing: co2 reduction above returns
Amsterdam, 30 September 2022 – A new development in the area of impact financing: CarbonFix offers support for innovations that slow down global warming, in the form of a donation or financing with minimal returns. This risky and impactful method of financing paves the way for scientists and entrepreneurs who want to scale up their eco-friendly innovation. The first two initiatives to receive financing focus on, among other things, a volcanic material (olivine) which captures CO₂ from the air and technology that prevents greenhouse gases from being released in the processing of plastic and fertilizers. The goal of CarbonFix is to prevent at least 1% of excess global warming in 2030.
Catalyst for climate solutions
The latest IPCC report is abundantly clear: an immediate and radical acceleration of climate action is necessary to limit global warming to 1.5 degrees. Creative innovations that contribute to this are springing up left and right, but can often not be developed to their full potential due to a lack of financial resources. CarbonFix offers a solution to this problem by supporting scientists and entrepreneurs with financing and access to an influential network. By functioning as a catalyst, CarbonFix supports the upscaling of eco-friendly innovations in an early stage. Siemon van den Berg, founder of CarbonFix, during the launch event at circular pavilion Circl: “There are numerous initiatives with great potential for reducing the levels of CO₂ in the atmosphere. Many of these have already been proven scientifically, but are still at too precarious a stage for most investors. Our network of professionals from the Dutch business community makes funds and influential connections available in order to give climate innovators the boost they need. With donations or highly attractive loans, they can scale up quickly and thus slow down global warming.
Measurable impact on a large scale
Whether an initiative is eligible for financing from CarbonFix becomes immediately clear after answering six online questions. CarbonFix specifically looks for projects that are in an early stage, but have the potential to make an enormous impact. Other important conditions that the CO₂ reduction is measurable and the approach is scientifically proven. The first two initiatives to be financed by CarbonFix are Vesta, which uses the capacity of oceans and olivine to capture large amounts of CO₂ from the air, and Yerrawa, which applies advanced technology to prevent the release of greenhouse gases in the processing of plastic and fertilizers. They are receiving $500,000 and €350,000 respectively to help scale up their innovations. The goal of CarbonFix is – together with all supported initiatives – to have prevented at least 1% of excessive global warming by 2030.