This investment has the potential to accelerate technology development in the low carbon hydrogen market.
CHICAGO–Blackcurrant Inc., a marketplace to help accelerate low carbon fuel adoption by simplifying transactions and lowering costs, has been selected by Chevron Technology Ventures, LLC (CTV) as part of its Catalyst Program™. The Blackcurrant platform is designed to streamline purchasing of hydrogen (with other low carbon fuels to follow), by connecting buyers, suppliers, transportation, and storage companies in a single data driven, easy to use platform. Purchases transacted on Blackcurrant can reduce the time it takes to make a hydrogen purchase from months to as little as one day.
The Catalyst Program™ was launched by Chevron in 2017 to promote and accelerate innovation from early-stage companies that may benefit the energy sector. The selection of Blackcurrant marks a significant milestone for the company.
Blackcurrant is a platform that aims to revolutionize the energy transition economy and a growing hydrogen market. Blackcurrant simplifies transactions and accelerates the decarbonization journey in hard-to-abate sectors such as power generation, heavy industrials, transportation, and logistics. The Blackcurrant platform provides dynamic, artificial intelligence (AI) driven price and volume discovery, granular carbon intensity scoring per transaction, and innovative capabilities such as hydrogen credit trading. This is valuable for the currently opaque hydrogen market that historically used manual methods of transacting and could take up to 8 or more months to complete a purchase. On Blackcurrant, these offtake agreements have the potential to be executed in less than one day.
“Blackcurrant is excited to be selected by Chevron as part of the Catalyst Program,” said Akshaykumar Thakur, CEO and Co-Founder of Blackcurrant. “The program will help Blackcurrant’s mission of accelerating the low carbon hydrogen fuel market.”
Blackcurrant has the potential to disrupt the current, slow-moving process of executing lower carbon fuels buy/sell transactions, which will help companies and organizations around the world achieve their carbon neutrality and sustainability goals. Hydrogen is one of several low carbon fuels with the potential to achieve these goals, and Blackcurrant aims to be the catalyst to help heavy industrials, transportation, power generation, and logistics companies accelerate their journey to adopt fuels like hydrogen.
About Blackcurrant, Inc.
Blackcurrant is a marketplace to help accelerate low carbon fuel adoption by simplifying transactions and lowering costs. We connect hydrogen producers, consumers, transportation, storage, original equipment manufacturers, consulting, and investment companies enabling them to transact hydrogen purchases in as little as one day. For more information, visit www.blackcurrant.ai.
About Chevron Technology Ventures
Chevron Technology Ventures pursues technologies and new business solutions that have the potential to enhance the way Chevron produces and delivers affordable, reliable, and ever-cleaner energy. For more information, visit www.chevron.com.
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