Sea grass also works extremely well
This unique programme seeks to attract startups and scaleups with technologies capable of sequestering/reducing carbon through ocean and coastal ecosystems.
The programme welcomes a wide array of blue carbon solutions, including innovations in seaweed and microalgae, as well as technology-based approaches and MRV technologies.
The 2-week programme, which will be delivered in Singapore from 11 - 22 November 2024, will involve 8-10 companies that are either based in the Southeast Asia / Japan region or global teams that are creating innovative blue carbon solutions for the region.
The objective of this initiative is to attract those best-in-class blue carbon innovators who seek the support from a range of sector experts to accelerate the development of their solution, market opportunity, and impact. The program will include a comprehensive range of mentor and advisory inputs as it seeks to advance the network, knowledge and opportunities of those companies selected.
Keitaro Sugihara, president and CEO of Idemitsu Americas Holdings, said: “We are excited to work with Hatch Blue to launch the Innovation Studio in Singapore. Idemitsu has been collaborating with Hatch Blue to deeply explore the ocean's potential in decarbonisation. We recognise the tremendous opportunities that blue carbon can offer. As one of the largest energy companies in Japan, with a strong presence in Asia, we have decided to support the acceleration and development of new technologies in this blue carbon sector, particularly those that can be deployed in Southeast Asia and Japan.
“Our goal is to be carbon neutral by 2050, and we are actively seeking various opportunities to reduce our carbon footprint. We see significant potential in what blue carbon can achieve. Our teams in the United States, Singapore, and Japan will work closely together with Hatch Blue on this programme to discover and implement innovative solutions.”
A novel sector
The blue carbon market and sector is very much in its infancy and needs collaboration between scientists, technologists, investors, industry and policymakers to create the innovative solutions that will benefit both the environment and local communities. This studio aims to foster the necessary collaborations to advance the technologies of those companies selected for the programme.
Wayne Murphy, co-founder and partner of Hatch Blue, said: “We are very excited to launch this our first industry sponsored Innovation Studio seeking startups and scaleups delivering blue carbon technologies and solutions. This unique initiative has been created in partnership with Idemitsu, who share our ambitions in this sector to make a difference and to engage the brightest talent. Our focus here will be to support and develop those innovative solutions that will not only protect our planet but also unlock the potential of blue carbon ecosystems to create a more sustainable and resilient future for all. We are incredibly proud to partner with Idemitsu on this critical sector initiative as we work towards selecting the best ideas and companies for the program that will drive the necessary impact and change.”
The closing date for applications will be 30 August 2024. Financial support for flights and accommodation will be made available to all successful applicants, to remove any barriers to participating in the on-site programme.
More information about the Idemitsu Blue Carbon Innovation Studio can be found here.
