In September 2024, Cohort 2 Breakthrough Energy Fellow company Holocene announced a landmark agreement with Google—a decade-long partnership to supply 100,000 carbon removal credits by the early 2030s. This groundbreaking direct air capture (DAC) purchase is the world’s only such commitment for the “holy grail” price of $100 per ton, and cements Holocene’s reputation as an emerging leader in climate innovation.

This milestone is a big leap from where Holocene was just two years ago, when Co-founder and CEO Anca Timofte joined the Fellows program as a one-person team. Today, Holocene’s rapid rise is tangible: a team of fifteen, an industrial pilot operating in Knoxville, Tennessee, multiple labs, two offices, blue-chip customers on board, and an ambitious demonstration plant on the horizon to ready the technology for commercial deployments.

Holocene’s road to Breakthrough Energy Fellows

Holocene is named after the most recent geologic age—the period of the past 12,000 years characterized by relative climate stability that allowed human civilization to flourish. “Our mission is to ensure that this stable climate can continue,” Anca shared, “and that involves developing efficient, scalable methods to remove CO₂ from the atmosphere.”

Anca is a chemical engineer from Romania. After studying chemical engineering in the U.S., she moved to Switzerland to pursue an additional degree in environmental engineering. While there, Anca encountered Climeworks, one of the first companies working in DAC, beginning her introduction to carbon mitigation. This was 2012—a time before the Paris Agreement and many other climate initiatives that exist now. She became passionate about using her chemical engineering skills to address climate challenges, particularly in the field of DAC, which she’s been working in ever since.

Anca applied for the Fellows program with all of the ingredients: experience in direct air capture, an initial idea for the company, and the potential promise of a license from Oak Ridge National Lab. She also had an initial prototype, which she had built in her living room, and a small lab she shared in Palo Alto during her time at Stanford Business School. Joining the Fellows program allowed her to take those ingredients and build a company. BE’s funding, mentorship, and business development expertise enabled Holocene’s formation and subsequent rapid growth.

While in the program, Anca was able to hire and grow a team, increase Holocene’s visibility and credibility in the carbon management space, access a large network of investors and industry experts, and gain recognition in a competitive field. “Attending major climate events with BE – like COP in Dubai – allowed us to connect with key policymakers, investors, and industry leaders in carbon management DAC,” Anca said, “and smaller investor-focused gatherings hosted by Breakthrough Energy opened doors to new connections and potential funding opportunities that might be difficult for a smaller startup to access independently.”

Holocene’s regenerative direct air capture technology

Holocene’s regenerative direct air capture (DAC) system utilizes two innovative organic compounds to enhance carbon capture. One compound boosts the carbon dioxide absorption capacity of water, while the other enables CO₂ removal via precipitation. Once in pure form, the captured CO₂ can be stored underground where it first originated or re-used in products, displacing fossil fuels in the process. Both compounds are fully recyclable within the system and compatible with standard chemical engineering processes and widely accessible equipment.

Holocene’s DAC system operates with lower energy requirements than existing technologies by employing low-temperature regeneration of these compounds. The solution also benefits from continuous solution-based processing and can be powered by renewable energy sources.

The team is proud to be building their direct air capture (DAC) technology company in Knoxville, outside traditional climate tech hubs like Silicon Valley, Boston, and New York. They see this as an opportunity to demonstrate the positive impact of green technology on communities, such as economic development, upskilling and reskilling, and rebuilding trust in communities historically burdened by the pollution tied to industrialization. Working from Knoxville also allows them to engage closely with the world-famous Oak Ridge National Laboratory, the University of Tennessee, local educational institutions, and Tennessee legislators to share information about carbon management. Community engagement and involvement are key to their mission, focusing on creating jobs, supporting workforce development, and ensuring environmental benefits.

What’s next for Holocene?

Holocene’s purchase agreement with Google marked a significant milestone for both the company and the DAC industry. Securing a committed buyer in an industry where there has been much talk but little action around achieving competitive pricing required making the case for Holocene’s technology’s cost advantages, backed by comprehensive techno-economic data from their facilities.

“Startups always need solid external validation from customers, partners, or investors, as well as funding. These are the two critical things startups are often starved of, so this support is incredibly helpful for our development,” Anca explained. “It also brings other interested customers to the table, especially those who may be more skeptical about direct air capture. Seeing Google get involved at this price point has opened many doors for potential future deals.”

Holocene’s current industrial pilot has been operational for a few months, and they’re now focused on their next milestone: building a much larger demonstration plant. This facility will be 200 to 500 times the size of the pilot, marking a significant step in technology development. They are conducting engineering work, engaging potential partners and customers—having already sold some capacity—and are discussing funding options with investors to support the project. This demonstration plant represents the next level of growth across all areas: team expansion, technology advancement, and fundraising.

The application to apply for Cohort 5 of the Breakthrough Energy Fellows program is officially open! If you, or someone you know, is working on a breakthrough climate technology and would like to join the next Cohort of high-impactful climate innovators, please apply. Nominations and applications are accepted here. Cohort 5 will be selected in the first half of 2025 and begin the program in September / October 2025.