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JOIN OUR EFFORTS TO

Decarbonise Industrial Heat Sources

BY LAUNCHING NEW CLIMATE VENTURES IN PARTNERSHIP WITH
ABOUT DSV

Deep Science Ventures is creating a future in which both humans and the planet can thrive.

We use our unique venture creation process to create, spin-out and invest into science companies, combining available scientific knowledge and founder-type scientists into high-impact ventures.

We operate in 4 sectors: Pharmaceuticals, Energy, Agriculture and Computation, tackling the challenges defining those areas by taking a first principles approach and partnering with leading institutions.

 

ABOUT OXY LOW CARBON VENTURES

Oxy Low Carbon Ventures, LLC (OLCV) is a subsidiary of Occidental (Oxy), an international energy company with assets primarily in the United States, the Middle East and North Africa. OLCV is focused on advancing cutting-edge, low-carbon technologies and business solutions that enhance Oxy’s business while reducing emissions. OLCV also invests in the development of low-carbon fuels and products, as well as sequestration services to support carbon capture projects globally. Visit Carbon Innovation on oxy.com for more information.

The Challenge

Industrial heat makes up two-thirds of industrial energy demand and almost one-fifth of global energy consumption. As the vast majority of industrial heat originates from fossil-fuel combustion, it also constitutes most of the direct industrial CO2 emitted each year. The proposed solutions to uncouple industrial heating from the need of fossil fuels as an energy vector are vast, ranging from electric arc furnaces, hydrogen boilers to using available heat sources like solar, geothermal and waste heat directly. Yet heating is still considered as a hard to abate sector and companies rely on offsets to compensate for heat related emissions. Aspects that make substantial innovation in this sector difficult include high sunk cost, low potential for cost saving through operational efficiency, long sales cycles as well as a high degree of integration between heating appliances and industrial processes, making them difficult to be replaced.

 

Our take on building new ventures in this space

The most difficult challenge in this equation is to find a substitute low carbon or net-zero heat source or energy vector that is easy to transport and provides reliable heat at the full range of temperatures on demand. To make a significant dent we do need to increase the heat range of solar, geothermal and waste heat and find means to capture it locally or to transport heat over longer distances without losses. Especially for high temperature applications ideal fuel substitutes that are abundant, energy dense, cheap, do not emit net CO2 and have low switching cost are still missing. Amongst a whole variety of potential approaches we are interested in exploring ways to integrate CO2 capture and conversion to fuel to reduce energy demand and cost but also strategies to extend the reach of alternative fuels and natural heat sources.

 

Join us to build these ventures

You’ll join DSV as the first Founder in the Decarbonising Industrial Heat Sources opportunity area and work with us for ±12 months to understand the problem space, and develop new concepts for venture creation. At the end of the 12-month period you will have helped to design and spin-out one or more ventures, and will become a full-time Founder of one of them.

Taking up a Founder role at DSV differs quite significantly from the entrepreneur in residence (EIR) role in other funds or venture studios. Instead of scouting for existing technologies which might overcome a specific challenge, you will start with identifying the areas where there is neglect or repeated failure yet potential solutions exist if considered from a different perspective, mapping the limitations to existing approaches at the specific and macro-level and considering the constraints of the broader ecosystem (capital, expertise, IP, knowledge, competition). You will start to build a company, iteratively determining the optimal solution for the problem, and DSV will guide you through every step of the process.

 

Our offer

We provide a monthly salary (at a pre-seed stage startup level) to bridge the gap between coming up with a concept and securing pre-seed investment. You and your Co-founder(s) will own the majority stake in the the new venture and the pre-seed investment capital is already secured from both DSV and Oxy.

 

Our impact

In the past 2 years, we have built and invested in 6 brand new companies in the climate sector across high performance materials, energy storage, green hydrogen production and carbon capture. In doing this, we have partnered with, and our companies have received funding from, the world’s leading climate-focused institutions and investors.

Previous Founding Analysts: Gael’s journey

Gael joined DSV with no specific ideas, IP or team members. He left having built both a direct air capture company Mission Zero and a green hydrogen company Supercritical Solutions.

He had the option to join either team as a co-founder, and chose to work full time with Mission Zero as it better suited his skillset. Mission Zero is developing a radical new form of bio-inspired direct air capture. 18 months after incorporation they have:

Secured a carbon removal pre-purchase agreement with Stripe worth up to $1.5m;
Raised pre-seed from DSV and our partners, and an oversubscribed seed round with top-tier climate investors, including Breakthrough Energy Ventures;
Had their DAC pilot development funded by Department for Business, Energy and Industrial Strategy (BEIS) through its inaugural DAC & GGR competition;
Participated in the Net Zero Technology centre’s (NZTC) Tech X accelerator program, winning the Equinor award;
Secured a number of commercial agreements worth multimillions including the UK’s largest offtaker of CO2.

 

Who should apply

We’re after deep technical domain expertise in chemical or process engineering ideally related to combustion, heat storage, solar or geothermal processes

OR

Expertise in chemistry with a focus on catalysis and thermochemical or electrochemical CO2 conversion.

Additional interests: thermodynamics, post-combustion capture, molten metal reactors.

Needless to say that a strong desire to build a company to make a huge positive impact towards the net zero energy transition is a must, you cannot wait to get started!

ABOUT DSV

Deep Science Ventures is creating a future in which both humans and the planet can thrive.

We use our unique venture creation process to create, spin-out and invest into science companies, combining available scientific knowledge and founder-type scientists into high-impact ventures.

We operate in 4 sectors: Pharmaceuticals, Energy, Agriculture and Computation, tackling the challenges defining those areas by taking a first principles approach and partnering with leading institutions.

 

ABOUT OXY LOW CARBON VENTURES

Oxy Low Carbon Ventures, LLC (OLCV) is a subsidiary of Occidental (Oxy), an international energy company with assets primarily in the United States, the Middle East and North Africa. OLCV is focused on advancing cutting-edge, low-carbon technologies and business solutions that enhance Oxy’s business while reducing emissions. OLCV also invests in the development of low-carbon fuels and products, as well as sequestration services to support carbon capture projects globally. Visit Carbon Innovation on oxy.com for more information.

The Challenge

Industrial heat makes up two-thirds of industrial energy demand and almost one-fifth of global energy consumption. As the vast majority of industrial heat originates from fossil-fuel combustion, it also constitutes most of the direct industrial CO2 emitted each year. The proposed solutions to uncouple industrial heating from the need of fossil fuels as an energy vector are vast, ranging from electric arc furnaces, hydrogen boilers to using available heat sources like solar, geothermal and waste heat directly. Yet heating is still considered as a hard to abate sector and companies rely on offsets to compensate for heat related emissions. Aspects that make substantial innovation in this sector difficult include high sunk cost, low potential for cost saving through operational efficiency, long sales cycles as well as a high degree of integration between heating appliances and industrial processes, making them difficult to be replaced.

 

Our take on building new ventures in this space

The most difficult challenge in this equation is to find a substitute low carbon or net-zero heat source or energy vector that is easy to transport and provides reliable heat at the full range of temperatures on demand. To make a significant dent we do need to increase the heat range of solar, geothermal and waste heat and find means to capture it locally or to transport heat over longer distances without losses. Especially for high temperature applications ideal fuel substitutes that are abundant, energy dense, cheap, do not emit net CO2 and have low switching cost are still missing. Amongst a whole variety of potential approaches we are interested in exploring ways to integrate CO2 capture and conversion to fuel to reduce energy demand and cost but also strategies to extend the reach of alternative fuels and natural heat sources.

 

Join us to build these ventures

You’ll join DSV as the first Founder in the Decarbonising Industrial Heat Sources opportunity area and work with us for ±12 months to understand the problem space, and develop new concepts for venture creation. At the end of the 12-month period you will have helped to design and spin-out one or more ventures, and will become a full-time Founder of one of them.

Taking up a Founder role at DSV differs quite significantly from the entrepreneur in residence (EIR) role in other funds or venture studios. Instead of scouting for existing technologies which might overcome a specific challenge, you will start with identifying the areas where there is neglect or repeated failure yet potential solutions exist if considered from a different perspective, mapping the limitations to existing approaches at the specific and macro-level and considering the constraints of the broader ecosystem (capital, expertise, IP, knowledge, competition). You will start to build a company, iteratively determining the optimal solution for the problem, and DSV will guide you through every step of the process.

 

Our offer

We provide a monthly salary (at a pre-seed stage startup level) to bridge the gap between coming up with a concept and securing pre-seed investment. You and your Co-founder(s) will own the majority stake in the the new venture and the pre-seed investment capital is already secured from both DSV and Oxy.

 

Our impact

In the past 2 years, we have built and invested in 6 brand new companies in the climate sector across high performance materials, energy storage, green hydrogen production and carbon capture. In doing this, we have partnered with, and our companies have received funding from, the world’s leading climate-focused institutions and investors.

Previous Founding Analysts: Gael’s journey

Gael joined DSV with no specific ideas, IP or team members. He left having built both a direct air capture company Mission Zero and a green hydrogen company Supercritical Solutions.

He had the option to join either team as a co-founder, and chose to work full time with Mission Zero as it better suited his skillset. Mission Zero is developing a radical new form of bio-inspired direct air capture. 18 months after incorporation they have:

Secured a carbon removal pre-purchase agreement with Stripe worth up to $1.5m;
Raised pre-seed from DSV and our partners, and an oversubscribed seed round with top-tier climate investors, including Breakthrough Energy Ventures;
Had their DAC pilot development funded by Department for Business, Energy and Industrial Strategy (BEIS) through its inaugural DAC & GGR competition;
Participated in the Net Zero Technology centre’s (NZTC) Tech X accelerator program, winning the Equinor award;
Secured a number of commercial agreements worth multimillions including the UK’s largest offtaker of CO2.

 

Who should apply

We’re after deep technical domain expertise in chemical or process engineering ideally related to combustion, heat storage, solar or geothermal processes

OR

Expertise in chemistry with a focus on catalysis and thermochemical or electrochemical CO2 conversion.

Additional interests: thermodynamics, post-combustion capture, molten metal reactors.

Needless to say that a strong desire to build a company to make a huge positive impact towards the net zero energy transition is a must, you cannot wait to get started!

Interviews ongoing for a full-time start asap

Interviews ongoing for a full-time start asap