ClimateLaunchpad 2015 bootcamp Estonia took place in 26-28 June in an old fishervillage called Käsmu. Käsmu is located by the sea, so the atmosphere was quiet and inspirational for our participants.
Only the best 10 ideas got invited to bootcamp to get experience on how to develop their ideas to the next level.
In this post we will see an interview with the team called PCO Solutions.
1. What is your idea and how did you come up with this idea?
PCO Solutions will develop a technology that can turn the CO2 emissions into fuel.
2. How big is your team and how did you find yourselves?
Our team is formed of four long-time friends that met in Tallinn University of Technology. We are all share the entrepreneurial spirit and ambition to have an impact by building a successful company.
3. If you have to say three things, why your idea is better than the other’s ideas in the world then what will those things be?
The difficult thing with pollution control solutions is they are very costly for the companies where they are installed, also they don’t generally improve the value adding process. Other ideas mostly only slow down the CO2 accumulation in the atmosphere by reducing the emissions, but that’s not enough because the CO2 level is approaching the critical levels. Fossil fuels - the main reason behind human-made CO2 emissions - will continue to be the primary energy source due to increasing global demand. Thus, to reverse the climate change, the solution must be carbon negative which means it has to suck out the CO2 from the atmosphere. The three things that make our proposed idea special are: (1) CO2 emissions from the industry will be seen as a valuable resource, (2) CO2-to-fuel concept can be modified to be used as a method for energy storage for renewables and (3) CO2 can be “sucked put” from the atmosphere that makes it carbon negative solution.
4. Where are you seeing your idea in 10 years?
In 10 years we plan to have our first pilot CO2-to-fuel conversion plants in operation. Strictened CO2 rules and wider public awareness about climate change create a perfect situation for scaling up the business as the need for solutions for carbon footprint reduction increase significantly.
5. Why are you dealing with environmental problems?
The burden of environmental pollution is huge. According to WHO (World Health Organization) statistics, pollution is responsible for more deaths worldwide than the most combated diseases like malaria, AIDS, tuberculosis, combined. The developing world suffers the most, because a lot of the wasteful production happens there. Even in Europe for example, the annual economic cost of only air pollution is the unbelievable € 1.4 trillion. And that is even without the impact on environment and nature. Thus, it’s obvious that the challenge is enormous. It is said that only those, who are crazy enough to think they can change the world, should do it. We believe that we are crazy enough to do it!
6. What was the best lesson or knowledge you got from ClimateLaunchpad?
The concept of beachhead market truly helps to focus on the first steps in testing the idea and business model.
7. What is your founder’s dream?
We dream about a world, where human-made pollution is not a threat to the environment and health any more. And we plan to fulfill our dream in profitable and economic way.