Cool Effect Catalyst Awards $1M to Octavia Carbon and Tradewater for CDR and Superpollutant Projects

Cool Effect has announced the first recipients of its $1M Catalyst award, funding high-integrity carbon removal and superpollutant reduction projects. Kenya-based Octavia Carbon will use the investment to scale its direct air capture operations, while Chicago's Tradewater will establish India's first Montreal Protocol-compliant facility for destroying ozone-depleting substances, targeting up to 325,000 tCO2e annually. The award also includes a nature-based solutions category, with finalists to be decided in 2027. The Catalyst program, announced in 2025, aims to close the funding gap for early-stage CDR projects that struggle to secure capital despite their potential. Cool Effect CEO Jodi Manning noted the decision to accelerate the awards from 2027 to now, citing the urgency of the climate crisis. Recipients were selected from 68 applications using the Carbon Done Correctly due diligence framework. This early funding is critical for proving business models and securing offtake agreements. For Octavia, it supports DAC deployment in Africa. For Tradewater, it addresses a major infrastructure gap in India, where no compliant destruction capacity currently exists. The nature-based finalists will undergo additional site visits before the final winner is announced next year.