Technip Energies held its first external Innovation Challenge on net-zero maritime shipping solutions, with the support of Elemental Excelerator, a nonprofit investor focused on scaling climate technologies with deep community impact.
Eight contestants pitched their innovations during a three-hour hybrid event on November 14, 2023. The recipients of the inaugural Challenge are ReCarbon, a company which transforms carbon dioxide and methane into valuable and decarbonized products through plasma reformation, and Aerleum, which develops a cost-competitive approach to capture and transform CO2 out of air into synthetic fuels.
Samir Karoum, Chief Strategy & Sustainability Officer of Technip Energies, commented: “Innovation and collaboration are key to support the net-zero trajectory and address the decarbonization needs of the industry. Our first external innovation challenge was a great opportunity to make the link between an innovative start-up ecosystem and a technology scalability expert like Technip Energies. Making this link is a win-win situation for those eager to bring innovative solutions to the table and companies like ours able to industrialize these solutions.”
“This collaboration shows the impact the private sector can have on scaling new technologies. By Technip using its innovative edge to back solutions that will be tried in unprecedented ways, it’s beneficial both for the corporation leaning into sustainability and the startup eager to show viability. Our Navigator program drives Elemental’s mission to bring private sector expertise and funding to assist in scaling and commercializing climate technology,” Elemental Excelerator Head of Corporate Partnerships, Saritha Peruri said.
The challenge was launched in August 2023, offering innovative startups the opportunity to share their solutions to decarbonize the maritime transportation industry, including solutions like fuel alternatives and emissions management and reduction systems, with the aim to make progress toward the goal of reaching net-zero carbon emissions by 2050.
A total of thirty-nine applications were received and eight finalists pitched their technologies to the panel of judges from the senior leadership at Technip Energies.
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About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 35 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.ten.com
About Elemental Excelerator
Elemental is a nonprofit investor in climate technologies with deep community impact. We bring more than a decade of experience across the climate sector, with an active and maturing portfolio of 150+ companies. Elemental fills two gaps fundamental to addressing climate change: funding projects for climate technologies in communities, and embedding equity and access into climate solutions. We invest in transformative technologies to create a systems change for a more resilient, equitable future.