Update: CarbonBridge Accepted to IndieBio

You may recall that CarbonBridge was in our 5th Cohort of Santa Cruz Accelerates (accelerator). And they won 2nd place in our annual pitch competition. Well there is no stopping this startup.

IndieBio

CarbonBridge was selected to join the largest biotech accelerator program in the US: IndieBio. IndieBio provides funding, mentorship, and lab space to early-stage biotech startups. It is part of SOSV, a global venture capital firm.

October 2023 Accomplishments

CarbonBridge successfully closed their funding round with IndieBio NY and HAX NJ. They have finalized methanol testing and identified the optimal method for regular operations. Collaborative processes with CCNY and NYU labs have been established. CarbonBridge has succeeded in extracting methanol from low concentrations and managed to increase its concentration sixfold. They've also concluded a 3rd party Life Cycle Analysis (LCA) crucial for business expansion. The results illustrated their potential to produce methanol with carbon intensity (CI) scores ranging from -25 to -260 based on the methane and CO2 sources. They have begun integrating this LCA into their business development strategies. Notably, CarbonBridge wrapped up its pre-seed funding with IndieBio NY and HAX New Jersey simultaneously. This accomplishment grants them access to a premier biolab space in downtown New York near Madison Square Garden/Penn Station and an impressive maker space in downtown Newark that's currently under development.

Why CarbonBridge's Work is Crucial

CarbonBridge operates across marine, aerial, and terrestrial domains. The marine industry, despite consuming roughly 3% of global energy, is responsible for over 13% of the world's greenhouse gas emissions, primarily due to large ships using bunker oil for propulsion. This residual oil is so viscous that ships require pre-heaters for its effective use. Progressive operators such as Maersk, Mitsui, and CMA are proactively shifting their practices, even before regulatory mandates, with methanol emerging as their preferred fuel. However, for this transition to be sustainable, the carbon intensity and cost of methanol must decrease.

Similarly, the aviation sector also utilizes about 3% of the world's energy, and aviation fuel can be synthesized from methanol. Heavy transport largely depends on diesel. To produce biodiesel from waste oils (like cooking oil, soybean, canola, etc.), methanol is essential. This is CarbonBridge's niche. Their methanol eliminates the need for fossil fuels and offers the lowest carbon intensity. Their unique process ensures the most competitive production costs.

This metric evaluates the carbon amount expended to generate a unit of energy. A lower score is preferable, indicating minimal carbon use for energy production. Some insights can be sourced from California's Air Resources Board.

About CarbonBridge

CarbonBridge takes methane and carbon dioxide (CH4, CO2) from biowaste and converts these gases into methanol (CH3OH), a highly versatile molecule. Their aim is to supplant fossil fuels in sectors that are challenging to decarbonize - such as marine, aviation, and heavy road transport, by providing methanol either for direct use as a fuel or for its conversion into a superior grade of fuel. CarbonBridge stands out from other methanol producers, whether they rely on fossil or renewable methods, by producing methanol that boasts the lowest cost, energy profile, and carbon intensity.