A carbon innovation initiative in collaboration with Greentown Houston has named its new cohort.

The Carbon to Value Initiative (C2V Initiative) — a collaboration between NYU Tandon School of Engineering's Urban Future Lab (UFL), Greentown Labs, and Fraunhofer USA — has named nine startup participants for the fourth year of its carbontech accelerator program.

"Once again, the C2V Initiative has been able to select some of the most promising carbontech startups through a very competitive process with a 7 percent acceptance rate," Frederic Clerc, director of the C2V Initiative and interim managing director of UFL, says in a news release. "The diversity of this cohort, in its technologies, products, geographies, and stages, makes it an amazing snapshot of the rapidly evolving carbontech innovation landscape."

The cohort was selected from over a hundred applications from nearly 30 countries. In the six-month program, the nine companies gain access to the C2V Initiative's Carbontech Leadership Council, an invitation-only group of corporate, nonprofit, and government leaders who provide commercialization opportunities and identify avenues for technology validation, testing, and demonstration.

The year four cohort, according to the release, includes:

• Ardent, from New Castle, Delaware, is a process technology company that is developing membrane-based solutions for point-source carbon capture and other chemical separations.
• CarbonBlue, from Haifa, Israel, develops a chemical process that mineralizes and extracts CO2 from water, which then reabsorbs more atmospheric CO2.
• MacroCycle, from Somerville, Massachusetts, develops a chemical recycling process to turn polyethylene terephthalate (PET) and polyester-fiber waste into "virgin-grade" plastics.
• Maple Materials, from Richmond, California, develops an electrolysis process to convert CO2 into graphite and oxygen.
• Oxylus Energy, from New Haven, Connecticut, develops a direct electrochemical process to convert CO2 into fuels and chemical feedstocks, such as methanol.
• Phlair, from Munich, Germany, develops a renewable-energy-powered Direct Air Capture (DAC) system using an electrochemical process for acid and base generation.
• Secant Fuel, from Montreal, Quebec, Canada, develops a one-step electrocatalytic process that converts flue gas into syngas.
• RenewCO2, from Somerset, New Jersey, is developing an electrochemical process to convert CO2 into fuels and chemicals, such as sustainable aviation fuel (SAF) or propylene glycol.
• Seabound, from London, England, builds carbon-capture equipment for new and existing ships.

"The depth and breadth of carbontech innovations represented in this applicant pool speaks volumes to this growing and dynamic industry around the world," adds Kevin Dutt, Interim CEO of Greentown Labs. "We're eager to support these nine impressive companies as they progress through this program and look forward to seeing how they engage with the CLC now and into the future."

The C2V Initiative kicked off at a public event on Sept. 19 at Greentown Houston and via livestream.

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This article originally ran on EnergyCapital.