A new company has been launched by UK entrepreneurs and investors to combat the climate crisis through research, development and investment in carbon removal technology.
Matt Isaacs, Andrew Shebbeare and Andy Bonsall have teamed up to establish Counteract, which will help engineers and scientists with early stage investment, commercialisation, access to community and communication support required to develop businesses capable of capturing or sting greenhouse gases at gigaton scale.
The company – which is the investors’ fourth venture together – will support very early stage concepts and ventures across the spectrum of carbon removal solutions such as enhanced weathering, blue and soil carbon, direct air capture, afforestation/reforestation and new sequestration channels.
The three co-founders are joined by former Octopus Ventures’ investor Caitlin Wale, bringing sustainability and low carbon solutions experience in built infrastructure and renewable energy.
Mr Shebbeare said: “This decade will set the trajectory for humankind’s response to climate change. Time is too short for vital innovations to get stuck in the lab or ideas to languish on paper. We know that solutions proven in theory or at pilot scale now need wide-ranging support and patient capital to break through. We are excited to launch Counteract today to help turn great ideas into scalable solutions that will make a material impact in our lifetimes.
“With the right effort and response, we can remove enough carbon from the atmosphere to avert enormous suffering. And we believe that for those who are willing to prioritise impact over short term returns, carbon removal also presents an extraordinary commercial opportunity. 2021 is going to be a critical year for climate solutions globally and we are excited to see the UK at the forefront with COP26 in Glasgow in November.”
The company will announce the first round of investments and partnerships over the coming months.