HONG KONG, March 15, 2023 /PRNewswire/ -- Brinc, a global venture accelerator committed to creating a more sustainable, equitable, and inclusive future, has commenced a strategic partnership with PML Applications, the commercial subsidiary of world-renowned marine research organization Plymouth Marine Laboratory (PML).
Brinc x PML Applications Collaboration to Benefit Ocean CDR Startups
PML Applications has expertise in ocean carbon removal (Ocean CDR), and providing independent monitoring and analysis to ensure new technologies and solutions in this growing area are developed in a responsible, evidence-led, and environmentally sustainable. Startups in Brinc's inaugural Climate Tech accelerator program, starting in spring 2023, stand to benefit from their expertise and network of global partners.
Relevant companies in the accelerator program will receive mentorship from a tailored selection of PML Applications' team, drawn from a pool of experts in both PML and PML Applications, and the opportunity to receive additional support such as a comprehensive environmental assessment. The startups will also have the chance to work with PML Applications during the program to formalize a proposal that covers potential capabilities such as onsite field trials, lab tests, and modeling support.
Field trials can be conducted, as required, to test technologies on a small scale. Climate Tech accelerator participants will have the benefit of PML Applications' experience leading efforts for commercial customers involving design and logistical planning, monitoring, data interpretation, and carbon dioxide removal (CDR) calculation. Land-based, coastal and offshore capabilities will also be on offer, as determined by case. This is designed to simplify permit acquisition and ease regulatory headaches for relevant startups, as well as provide technical support and third-party validation.
The most recent IPCC report estimates that at least five to ten gigatons of carbon removal annually will be required by 2050. The ocean plays a vital role in the natural carbon cycle and could potentially be used for carbon removal using scalable industrial processes. It is estimated that the ocean also offers additional space compared to the inherent limitation faced by land-intensive approaches. A variety of Ocean CDR approaches exist, but all face uncertainties in terms of ecological risk, and measurement, reporting, and verification (MRV) at scale. In particular, companies must design solutions for 1,000-year permanence and long-term operational durability.
Alongside the aforementioned support from PML Applications, all startups that participate in Brinc's 12-week Climate Tech accelerator program will receive an investment of US$150,000 and one-on-one tailored support from a global community of mentors, follow-on investors, and corporates.
Brinc CEO & Founder Manav Gupta said "Ocean CDR has vast untapped potential, but still faces a variety of hurdles. We are excited to work with PML Applications to help startups validate their technologies in the field with as simplified a permitting process as possible, robust environmental assessments, and support on their MRV protocol. We need to collaborate across sectors in order to help startups scale."
Tim Fileman, Head of the Centre for Coastal Technologies at PML Applications, said "There is a great deal of interest in the growing Ocean Carbon Dioxide Removal sector, but it's vital that new technologies and solutions are underpinned with a strong foundation of scientific evidence and are able to deliver in a genuinely sustainable manner. PML Applications has a wealth of knowledge in this area - drawing on the expertise of the world-renowned Plymouth Marine Laboratory - and we're delighted to be working with Brinc to ensure startups are supported with the right guidance and insight."
Interested startups can fill out the application form at https://airtable.com/shrNhCPnCTOKCr1HZ to be notified when the next batch of prospective participants will be reviewed. Those interested in supporting the program in another capacity can submit their details via the same link or contact climatetech@brinc.io.
About Brinc
Headquartered in Hong Kong, Brinc is a leader in global venture acceleration and operates 13 multidisciplinary accelerator programs across seven countries. Brinc accelerates startups focused on blockchain technology, artificial intelligence, connected hardware, robotics, climate tech, clean energy, food technology, and Internet of Things (IoT) with a view to creating a more sustainable, equitable, and inclusive future.
Brinc also supports corporations with investment services, distributed innovation strategies, sourcing of new startups and technologies, as well as venture-building Web3-enabled businesses. Global corporations (Manulife, Huawei, Schneider Electric, Puma, Batelco, Merck, Omantel, Linrun Group, Zhihui Park), government organizations (Hong Kong Science Park, NEOM, MBRIF, Guangdong Soft-tech Park), tertiary institutions (HK City University, National University of Singapore) and leading venture funds (Artesian, LeverVC, Tamkeen, EDB) have all run programs with Brinc. In 2021, Brinc announced a series of venture funds to invest in high-potential early-stage companies through accelerators and provide LPs with a dedicated innovation platform and access to Series A+ co-investment opportunities.
Learn more about Brinc
About PML Applications
Experts in the fields of marine biology, biofouling and corrosion, advanced marine technologies and remote sensing, PML Applications works with some of the world's biggest names in shipping, offshore energy, aquaculture and environmental services.
Its Centres of Excellence in Marine Biofouling and Corrosion, Coastal Technologies, Geospatial Applications and Environmental Solutions have built a reputation for independence and impartiality, with world-class testing facilities and expertise dedicated to bridging the gap between research and real-world practical solutions.
Learn more about PML Applications
