Climatetech startup HyveGeo raises pre-Seed round
Summary
Founded in 2023 by Abdulaziz bin Redha, Samsurin Welch, Eva Morales and Harjit Singh, HyveGeo utilises microalgae technology for soil regeneration and carbon removal to address the nexus between climate change and food security. According to the IPCC, achieving the 1.5 degrees Celsius Paris Agreement target requires both a significant reduction in global emissions as well as 5 to 10 billion tons of carbon removal from the atmosphere per year.HyveGeo joins a growing movement of many startups working towards climate change mitigation, with ventures such as 44.01, CUR8, Climeworks, and Brilliant Planet bringing different approaches to the challenge. Their formula, a game-changer for sustainable agriculture, includes products such as biochar, a carbon-rich substance that not only enriches soil but also helps retain water and nutrients to boost crop yields while also permanently removing carbon.HyveGeo utilises locally adapted microalgae strains and advanced engineering designs suited to the unique characteristics of arid desert climates. HyveGeo has enormous ambitions to optimise microalgae yield and deliver a diversified business with multiple revenue streams.This vision is significantly reinforced by the unwavering support of the UAE government, which has generously provided subsidies and incentives. Aligned with international commitments, the initiative actively contributes to the global drive to achieve a 43 per cent reduction in emissions by 2030.Climate change is an existential issue for the human race, and there is a huge job ahead for all sectors to work together to help bring down the amount of carbon in the atmosphere with scalable and sustainable solutions.