Fort Collins, Colorado, March 30, 2023 (GLOBE NEWSWIRE) -- Fort Collins, CO- New Iridium, a client company in Innosphere Ventures REACH Energy Accelerator, has been selected for a short feature film by RE:TV, a branch of Sustainable Markets Initiative founded by King Charles III.
The Sustainable Market Initiative was launched by the former Prince of Wales at The World Economic Forum 2020 Annual Meeting in Davos with the mission to build a coordinated global effort to accelerate the private sector transition to a sustainable future.
"We are honored to have our technology showcased by RE:TV." said Dr. Chern-Hooi Lim, New Iridium founder and CEO. "The chemical industry is the third largest emitter of CO2, behind only cement and steel, and our solutions provide a viable pathway for decarbonization."
New Iridium’s mission is to decarbonize the chemical industry by utilizing CO2 to create value-added products and reducing carbon emissions through highly efficient chemical manufacturing.
“The chemicals industry generates trillions of dollars of revenue globally, producing a wide range of products from packaging and paint to food and pharmaceuticals. However, many of the manufacturing processes involved rely on high temperatures making the industry a significant contributor to greenhouse gas emissions,” said Dr Chern-Hooi Lim.
New Iridium aims to reduce the sector’s CO2 impact using next-generation technology powered by light to produce low-carbon and lower-cost versions of existing commodity chemicals - often consuming more CO2 than the process emits. Taking inspiration from the natural process of photosynthesis and powered by renewable electricity, New Iridium's technology could eliminate millions of tons of carbon emissions from chemical manufacturing.
View the segment here.
New Iridium has also been selected as one of 40 presenters for the 2023 NREL Industry Growth Forum, chosen from applicants from across the globe. The forum represents a one-of-a-kind opportunity in the cleantech space and is known as the premier event for cleantech entrepreneurs and investors.
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