This Startup Wants To Suck 1 Billion Tons Of CO2 From Air
Climeworks, a carbon dioxide removal company from Iceland, is building a second commercial-sized plant.
The founders want to have the plant fully operational in 18 to 24 months. At its peak, the plant will capture and store 36,000 metric tons of CO2 annually.
They realize this is just the start, and the amount of CO2 they take from the air still represents a very small percentage of the global CO2 emissions.
But, the company has bigger goals than what’s capable with their newer plant. The founders are working towards removing millions of tons of CO2 a year by 2030. Their big goal is to remove 1 billion tons of CO2 per year by 2050.
So, what do they do with the CO2 they capture? Some CO2 gets upcycled in the circular economy, for example, into sustainable aviation fuel, or in fizzy drinks. But most of it gets quickly and safely turned into stone through the use of rapid mineralization.
It all started with a small plant in Iceland that has the capacity to remove 4,000 tons of CO2 per year. Seeing how big of a jump they’re making with the second plant makes us optimistic about the future.
Jan Wurzbacher, the co-founder and co-CEO said:
“We started with milligrams of carbon dioxide captured from the air. Then we went from milligrams to grams, from grams to kilograms to tons to 1,000 tons. So we did quite a couple of these steps already.”
Apple, Google, And Microsoft Want To Eliminate Passwords
All three companies are backing a standards group, FIDO Alliance, working on a system that automatically signs you in to all your online accounts using face recognition or fingertip recognition.
What does that mean for the security industry and startups like 1Password that are built to help us store passwords? Not much, according to 1Password’s CEO Jeff Shiner.
“When we look at the Apples and Googles and Microsofts, they have an ability to educate at a level we just don’t,”
Shiner told BetaKit at Collision 2022.
“Every time they’ve introduced something our business has gone up significantly as a result of that.”
The main advantage tools like 1Password have over passwordless solutions from Apple, Google, and Microsoft is that they offer a real cross-platform solution that works on any system.
The innovation from the big brands in the tech industry is exciting, and their solutions encourage startups in the security niche to up their game.
1Password, which recently raised $744.3 million CAD and is valued at $6.8 billion CAD, continues to grow, despite tech giants offering passwordless solutions.
Do you trust Apple and Google with your passwords or prefer solutions like 1Password?
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Buying Electric Vehicles Just Got Easier
A fintech startup Tenet is launching its operations, claiming that it can make it easier for people to buy electric vehicles (EV).
The startup raised $18 million in seed funding led by Human Capital (San Francisco) and Giant Ventures (London). Tenet wants to cust monthly payments on electric vehicles by $200 on average.
The startup works by letting EV buyers move most of their loan amounts to the end of their term. They don’t actually lower the price of the EVs, which means that the buyers will still have to be able to afford one.
The startup hopes to improve our environment by making EVs more accessible.
Learn How To Build A Startup In 54 Hours
Startup Weekend Iowa Cury returns this year from July 15-17. The organizers claim that attendees will learn how to think, work, and build like a startup in 54 hours.
The attendees will pitch their initial ideas on the first night of the event. The top-voted teams will be announced. They will get the chance to work with mentors, investors, and coćfounders to develop their ideas.
They will pitch their final presentations during demo day.
Events like this help young entrepreneurs and inventors fine-tune their ideas and present them to a huge crowd of interested people.
The organizers are partnering with California State University Channel Islands for this year’s event.
You can buy your tickets here.
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$40 Million For Coffee Made From Plant Waste Ingredients
Coffee farming has a negative impact on the environment in the coffee-growing regions. The Seattle-based coffee company called Atomo wants to provide a substitute for the environmentally destructive process of coffee farming.
They perfected the process of making coffee without coffee beans. They substitute the beans with a molecular concoction that comes from sustainable, upcycled plant waste ingredients.
They just raised $40 million in new funding to improve their operations. They currently produce about 2,000 servings of cold brew per day.
Would you drink coffee made out of waste ingredients instead of coffee made of beans? We’re definitely open to at least trying sustainable coffee.
This Startup Wants To Prevent Startups From Making Bad Hires
A London-based hiring startup Screenloop offers candidate sourcing, interview analysis, and reference automation. They just raised $7 Million in seed funding from Stride VC.
Startups often have to hire staff quickly, which leads to bad hires. This is very costly, as one failed hire can cost startups over $180k.
Screenloop provides smart solutions that help companies identify areas of improvement in their hiring process.
Anton Boner, the Screenloop co-founder, said:
“CVs only tell so much about a candidate, and with the majority of interviewers in organisations having little or no training, there is a skill gap to identify who is most suitable for a role.”