Global steel company ArcelorMittal has announced the winners of its inaugural XCarb® India Accelerator Programme, selecting three startups for their innovative climate technologies.
The programme attracted over 50 applications. After a thorough review by ArcelorMittal’s XCarb® Innovation Fund and R&D teams, UrjanovaC, AgroMorph Technosolutions, and Susstains Engineering Solutions were chosen as the winners. Each startup will receive USD 50,000 and mentoring to further develop their technologies and business models.
UrjanovaC is working on a Carbon Capture, Utilization, and Storage (CCUS) technology to help decarbonize hard-to-abate sectors like steel. Their technology uses a patented catalyst and wastewater to convert industrial CO2 emissions into useful by-products such as calcium carbonate and soda ash, which can be utilized in various industries.
AgroMorph Technosolutions is developing a modular, algae-based CCUS system designed to remove carbon from industrial flue gases and absorb nutrients from wastewater. This process utilizes natural photosynthesis for carbon capture and produces a variety of nutrient-rich algae-based products.
Susstains Engineering Solutions, founded by IIT Madras PhD students, is creating a technology to produce biochar from biomass as a coal replacement for the steel industry. Their innovative biomass carbonization methods aim to increase the yield, productivity, and quality of biochar.
Irina Gorbounova, Head of the XCarb® Innovation Fund, praised the winners, stating, "We congratulate the winners of the XCarb® Accelerator programme in India, all of which presented novel ideas with significant industrial decarbonization potential. We look forward to supporting these innovative young companies as they develop and scale their technologies."
The XCarb® India Accelerator programme, launched in July 2023, was developed in collaboration with IIT Madras’s GDC – Centre of Innovation & Entrepreneurship and supported by ArcelorMittal Nippon Steel India (AM/NS India).
Prof Vikram Vishal, Director & Co-Founder of UrjanovaC, expressed gratitude for the recognition, highlighting their sustainable and scalable decarbonization technology. He acknowledged the invaluable experience gained and the support from ArcelorMittal, AM/NS India, GDC-IIT Madras, and SINE-IIT Bombay.
Dr Akanksha Agarwal, Founding Director of AgroMorph Technosolutions, appreciated the programme for providing insights into the steel industry and aiding their exploration of algae-based decarbonization challenges.
Dr Muthu Kumar, Founder of Susstains Engineering Solutions, valued the opportunity to understand the potential of biochar in the steel industry and the confidence gained from testing their biochar at the AM/NS India facility. He also acknowledged the role of GDC-IITM in shaping their business model.
The XCarb® India Accelerator programme aims to support ArcelorMittal’s climate ambitions and India’s vibrant startup community in developing technologies to advance global climate transition.