DCVC Climate Impact Report 2023 (DCVC (Data Collective))

Summary

• Global greenhouse gas emissions reached a record 53.8 Gt CO2e in 2022, with physical industries accounting for over 75% of emissions.p.4
• DCVC has invested $419M across 29 deep-tech climate companies since pioneering climate investments in 2012.p.6
• Pivot Bio avoided 226.4k metric tons of CO2e in 2022 by replacing synthetic nitrogen fertilizer with computationally tailored microbes.p.6
• Twelve signed a major 14-year offtake agreement to supply IAG with 785,000 metric tons of E-Jet sustainable aviation fuel starting as early as 2025.p.13
• Fervo raised $244 million in February 2024 to accelerate clean electricity delivery to the grid from its Cape Station geothermal project.p.14
• Verdigris monitors 16.7 million sq ft of building space, helping clients save 108 GWh of electricity annually with 12% average customer energy cost savings.p.18

Key insights

1. Physical industries such as power generation, industrial manufacturing, and transportation represent over 75% of global greenhouse gas emissions.p.4
2. Nitrogen fertilizer production and use accounts for more than 5% of global GHG emissions.p.6
3. Half of the emissions reductions required to reach net zero by 2050 depend on technologies currently at the demo or prototype phase.p.8
4. Fervo's enhanced geothermal project is projected to achieve a 3.2M mt CO2e annual reduction potential in 2033.p.10
5. Twelve's E-Jet power-to-liquid sustainable aviation fuel delivers a 90% emissions intensity reduction compared to conventional jet fuel.p.13
6. Geothermal energy currently accounts for less than 1% of global renewables despite its potential for 24/7 clean power generation.p.14
7. Operational energy use in commercial buildings generates 3.7 Gt CO2, with more than one third of consumed electricity being wasted.p.18
8. Smart building automation systems could reduce up to 14 Gt CO2e globally between 2020 and 2050 while saving over $3.4 trillion.p.19