LONDON, Feb. 17, 2021 /PRNewswire/ — UK entrepreneurs and investors Matt Isaacs, Andrew Shebbeare, and Andy Bonsall today launched the open of Counteract to combat the local weather disaster through compare, style, and investment in carbon removal skills. Counteract will serve engineer and scientist entrepreneurs with the early stage investment, commercialisation, obtain correct of entry to to team, and communications enhance required to build corporations able to shooting or storing greenhouse gases at gigaton scale.
The firm is the co-founders’ fourth enterprise together, having final collaborated to open and develop the world media and skills enterprise Essence, to date the fully enterprise ranked #1 in both The Sunday Times Tech Observe and World Observe league tables. Essence used to be bought by WPP in 2015 and today manages over $4bn of world media utilize.
Isaacs, Shebbeare, and Bonsall, who obtain been privately investing for several years, carry intensive skills in enterprise constructing spanning fintech, skills, consulting and media. They are joined by ragged Octopus Ventures investor Caitlin Wale, bringing sustainability and low carbon solutions trip in built infrastructure and renewable vitality.
To mitigate the cruelest impacts of local weather substitute will require rising carbon protect shut from 0.04 Gigatons in 2020 to 5.6 gt by 2050 according to the World Vitality Agency, a mutter fee quicker than the oil alternate height. Counteract will enhance very early stage concepts and ventures throughout the spectrum of carbon removal solutions such as enhanced weathering, blue and soil carbon, enlighten air protect shut, afforestation/reforestation, and fresh sequestration channels.
Commenting on the open, Counteract co-founder Andrew Shebbeare talked about: “This decade will residing the trajectory for humankind’s response to local weather substitute. Time is too short for mandatory enhancements to obtain caught in the lab or solutions to languish on paper. We know that solutions proven in theory or at pilot scale now need huge-ranging enhance and affected person capital to ruin through. We’re excited to open Counteract today to serve flip spacious solutions into scalable solutions that can blueprint a field cloth impact in our lifetimes.”
Shebbeare persevered: “With the upright effort and response, we’re going to supply you the option to protect away adequate carbon from the atmosphere to avert tall suffering. And we explain that for these that are challenging to prioritise impact over short time length returns, carbon removal additionally items an out of the ordinary industrial replacement. 2021 is going to be a vital twelve months for local weather solutions globally and we are excited to watch the UK at the forefront with COP26 in Glasgow in November.”
With rising investment hobby and philanthropic enhance for local weather solutions, and the carbon market estimated to exceed $10B internal the subsequent 5 years, the market for non-public investments in this residing is destined for vital mutter. Counteract provides a mandatory fresh automotive for accelerating early stage carbon removal solutions at a vital time for the alternate.
Counteract will stutter a first spherical of investments and partnerships in the coming months.
Launched in February 2021, Counteract is a brand fresh carbon removal firm combating the local weather disaster through compare, style and investment. Counteract gives engineer and scientist entrepreneurs the financial and strategic enhance to flip new solutions into self-sustaining corporations with the probably to protect shut or store greenhouse gases at gigaton scale.
Counteract used to be primarily based by skilled entrepreneurs and investors from the world of digital media, finance, skills and consulting, with early backgrounds in engineering, economics and field cloth science, a shared track fable of growing organizations from startup to world scale and a shared belief that enterprise is incessantly a profound power for upright.