Welcome to our June 2024 Newsletter
Blue Action
Climate Solutions for Coastal & Ocean Resilience via Blue Action Accelerator and Blue Action Lab
// Celebrating World Oceans Week 2024 with Blue Action
This month, we reflect on the impactful strides we have made over the past year in accelerating climate technology, empowering local communities, and driving investments in the blue economy. We hear from George Northcott , co-founder at our partner Founders Factory , share discussions from World Oceans Week, and spotlight Blue Action founding member, the Clean Marine Group .
// World Oceans Week at The Explorers Club, New York City
World Oceans Week hosted two panel discussions at The Explorers Club in New York City under the joint title: The Bahamas – Ocean Philanthropy and Impact Investment. The event reinforced our mission, emphasizing the unique strengths of The Bahamas. Attendees learnt that with 245,000 square miles of ocean, unique coastal and marine ecosystems, an economy fueled by ocean businesses, and a talented pool of ocean experts and professionals, The Bahamas is uniquely positioned to lead the transition to a sustainable, innovative and profitable blue economy.
The sessions showcased how Bahamian leaders, institutions, businesses and entrepreneurs are securing the responsible stewardship of the country's ocean and coastal resources, creating opportunities for economic development, and confronting pressing environmental and societal challenges.
Craig Dahlgren | Rashema Ingraham | The Island School | Lakeshia Anderson-Rolle | Megan Davis | Raveenia Roberts-Hanna, PhD | Tarran Simms | Rupert Hayward | Grand Bahama Port Authority | Austin Gallagher
// Clean Marine Group's Innovative Solutions in Caribbean MARPOL Compliance and Sustainable Shipping
As part of our celebration of positive partnerships in the blue economy this month, we are pleased to spotlight founding Blue Action member, Clean Marine Group . Clean Marine Group has secured the Grand Bahama Port Authority License to operate the first Caribbean MARPOL port reception Facility, based in Freeport Harbour, Grand Bahama.
They collect and process all kinds of liquid waste emitted by large ships, including black water, grey water, ballast water, oily water and sludge, thus allowing ships that use their services to comply with MARPOL regulations, with a Hydrocarbon Recovery Plant that has the capacity to process 120,000 tons of oily waste per annum, their mission is to protect the marine environment thus protecting local livelihoods in The Bahamas and wider Caribbean.?
Michael Fitton, CEO, Clean Marine Group says, ‘In collaborating with shipping lines and ports in the region, we ensure environmentally responsible disposal practices preventing the illegal dumping of harmful substances into our pristine waters. This waste is then recycled into fuel, providing a sustainable alternative to virgin fossil fuelsWe are committed to extending and investing in new technologies to engineer more sustainable fuels such as Renewable Liquified Natural Gas, Ammonia, Methanol and Green Hydrogen, that meet the modern needs of shipping as they reduce emissions by 2030 and net zero by 2050. Additionally, we support local businesses involved in coral reef and mangrove restoration, promoting sustainable fishing and providing training programs for marine-related engineering jobs. Clean Marine Group is dedicated to maintaining the health of our waters and ensuring a thriving future for The Bahamas.’
//? Blue Action Accelerator X Founders Factory: Investing in the Future of Ocean and Coastal Resilience
Blue Action Accelerator is our dedicated investment platform for the Blue Economy, bringing together entrepreneurs, policymakers and investors to fund and accelerate impactful ocean and climate technologies.
?As we celebrate the first anniversary of the collaboration between Blue Action Accelerator and Founders Factory , our focus is on showcasing the brands in the blue economy and ocean-focused sectors that have been recipients of investments through our accelerator program; Jeevan Climate Solutions, ACUA Ocean , Ocean Ledger , Brineworks , Soarce , DRIFT Energy Ltd , and AtmoCooling are part of our distinguished portfolio. We offer them real-world opportunities to test technologies and systems, enabling rapid validation, structuring, financing, and large-scale application.
领英推荐
?Applications are open – we’re looking for visionary founders building in Climate and Deep Tech to join our global accelerator programs.
?Successful applicants will join a 4-month program, receiving capital and rigorous expert support in developing, funding, and commercializing their technologies – including access to natural testing grounds and commercial opportunities with corporate partners.
Apply here: https://lnkd.in/ey3bDi6z
Recommend a startup: https://bit.ly/3yDEfjF
Applications are open until Sept 1st 2024
//? A letter from George Northcott, President & Co-Founder of Founders Factory, Partner at Blue Action Accelerator
This month marks one year since we made our first investments for Blue Action Accelerator. One year since we set out a bold thesis to save the natural world’s biggest habitat and to address one of the biggest challenges posed to our climate’s health.
?For me, investing in oceans and coasts was like jumping into uncertain waters. Founders Factory had invested in climate tech before, through partnerships with global corporations like Aviva and easyJet, or through our climate investment program G-Force. But targeting a climate vertical like the oceans, required us to crack a specific formula for what founders in this space needed to succeed.??
So what have we learned in our first year??
Firstly, the breadth of technology in the ocean space is vast. The ocean’s many and varied challenges requires a range of solutions. In our stellar portfolio we’ve invested in everything from clean technology ( DRIFT Energy Ltd ) to blue carbon accounting ( Ocean Ledger ), from material innovation ( Soarce ) to data collection ( ACUA Ocean ).?
Secondly, we’ve been blown away by the supreme level of talent building in this sector. The quality of academic talent stands out in particular, with a number of prominent PhDs in our portfolio, such as Lehigh University’s Dr Arup SenGupta, whose research has formed the backbone of direct air capture technology startup Jeevan. Technical talent is also drawn to this space, like AtmoCooling founders Paul Mahacek (ex-SpaceX) and Paul Herve (ex-Renault).
?Finally, in just a short time, we’ve seen how much momentum there is behind ocean and coastal challenges. Early stage investment in the space is picking up speed, giving talented founders the incentive and rocket fuel to scale solutions. But there is still some way to go. With just a year under our belt, and so much yet to solve, I’m thrilled to see what Blue Action Accelerator can go on to achieve.?