EIT Climate-KIC continues to scale carbon removal start-ups with support from Munich Re and ERGO

A decade ago, carbon dioxide removal was a small part of the global climate change conversation. But the latest IPPC report notes that alongside other measures “Carbon dioxide removal (CDR) will be necessary to achieve net-negative CO2 emissions.” The process of carbon dioxide removal encompasses a range of technical and nature-based solutions through which existing CO2 is removed from the atmosphere and sequestered safely for long periods of time.  

To accelerate the transition to a net-zero carbon society, EIT Climate-KIC is supporting promising carbon dioxide removal start-ups via the Carbon Removal ClimAccelerator. The programme, endorsed by Munich Re and ERGO, harnesses 12 years of experience as the main climate innovation solution provider in Europe, with over 2,100 solutions supported and over €2 billion of capital secured.*  

Since 2017, EIT Climate-KIC and Munich Re and ERGO have supported entrepreneurs all across Europe, scaling a total of 32 start-ups, including 12 with CDR solutions such as afforestation, direct air capture, biochar, and bioenergy-based carbon capture and storage. 

Now starts the next application round for start-ups with high-impact potential. The 2023 cohort will receive tailored coaching and mentorship, business development and up to €10,000 in financial support. EIT Climate-KIC will guide participants through a climate impact workshop where they will forecast their business’ climate impact, and develop strategies to improve their environmental footprint.   

“Preventing catastrophic climate change and achieving the ‘well below 2°C’ Paris Agreement target requires a speed of decarbonisation at least six times faster than anything the global community has achieved so far. Carbon removal technology can be a part of the solution,” says Carla Erber, the programme manager at EIT Climate-KIC. 

Delivered by Tangent, Trinity’s Ideas Workspace, the programme will support up to 20 early-stage start-ups in Stage 1 from October to December, with the possibility to apply for Stage 2. Applications for the Carbon Removal ClimAccelerator are open from now until 10 September on the website.

Apply Today

*Data from EIT Climate-KIC, 2017-2022 

About the partners

Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the asset management company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake to Hurricane Ian in 2022. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies or cyberattacks. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals. 

ERGO is part of Munich Re and one of the major primary insurance groups in Germany and Europe. The Group is represented in over 25 countries worldwide, concentrating on core and growth markets in Europe and Asia. ERGO offers a comprehensive range of insurances, pensions, investments and services. In its home market of Germany, ERGO is one of the leading providers in the life, non-life and health segments with a comprehensive range of products. The essence of the ERGO brand – ”making insurance easier”- is the compass for company actions. ERGO wants to design insurance for customers as simple, fast and convenient as possible. The Group therefore seamlessly links competent advice with modern mobile and online services, thus allowing customers to decide flexibly how and where to contact ERGO. And because complex issues are still best discussed in person, expert advice from salaried and self-employed ERGO advisers, brokers and strong cooperation partners is a key part of the company’s range of services. 

Trinity College Dublin, the University of Dublin, is uniquely positioned to deliver on this great initiative. Through its Innovation and Entrepreneurship Centre ‘Tangent’, the college has successfully delivered numerous international Climate-focussed accelerators and incubator initiatives in recent years, as well as a suite of certified and professional innovation programmes for students, academics and corporate audiences. Tangent is informed by research and international best practice and its programmes are engaging, interactive and experiential.