Magna, BASF and Greentown Labs have announced the five startup participants for their Greentown Go program designed to accelerate startup-corporate partnerships to decarbonize automotive manufacturing and reduce vehicles’ life-cycle impact. The list includes a Canadian company, Alberta’s Carbonova.
The transportation sector is responsible for 16 percent of global greenhouse gas emissions. While the transition to electric vehicles garners the bulk of industry and media attention, there are also countless areas across the automotive manufacturing value chain that are in vital need of innovative climatetech solutions. BASF, Magna, and Greentown say that’s why they partnered to launch Go Move 2022, which specifically sought startups with novel solutions to some of the auto industry’s toughest problems: materials innovation for automotive efficiency and life-cycle-emissions reduction; materials design for recycling and new recycling technologies; and materials innovation for shared and future mobility.
The selection and deliberation process saw close to 100 applicants, and from that five cutting-edge startup participants were selected:
- Carbonova(Calgary, Alberta, Canada): Carbonova is a technology company developing a solution to produce high-volume superior carbon nanofibers (Carbonova fiber) for use in various market applications, utilizing greenhouse gas feedstocks and turning them into a sustainable and valuable solid commodity.
- Endeavor Composites (Knoxville, TN, U.S.): Endeavor Composites is pioneering high-performance, low-cost, and zero-waste composites to solve difficult manufacturing problems.
- FibreCoat(Aachen, Germany): FibreCoat creates affordable and conductive fiber materials for integrated EMI-shielding, heat transfer, and weight reduction in EVs.
- Heartland Industries (Detroit, MI, USA): Heartland produces materials and technologies to help decarbonize manufacturing.
- MITO Materials Solutions (Indianapolis, IN, U.S.): MITO’s patented platform technology creates hybrid additives with unique attributes—and limitless possibilities.
Selected startups will work closely with BASF and Magna over a six-month period to advance commercialization efforts—collaborating to de-risk their technologies, discover potential industrial applications, and develop viable go-to-market strategies. In working with BASF and Magna, the cohort will have access to professional expertise that is applicable across the full value chain of the automotive industry; whether it’s developing the parts that make up a vehicle or the materials that make up the part, BASF and Magna are involved at every step in the automotive manufacturing process. Throughout the program, startups will benefit from mentorship, networking opportunities, educational workshops, and partnership-focused programming to support their collaborations. Finally, participants will receive desk space and membership at Greentown Labs for the duration of the program and $25,000 in non-dilutive stipend funding.