COMPANY NAME: Aspiring Materials
PILOT DATE: November 2024
SUMMARY
Aspiring Materials was selected as a finalist in PepsiCo’s Greenhouse Accelerator Program (GHAC) 2023 for its proprietary mineralization process that captures and stores carbon dioxide in a single step. Through the program, the company cemented its brand story, revenue model and also secured a demo pilot at PepsiCo’s Wiri plant in Auckland – PepsiCo’s first carbon mineralization pilot globally and a world first for direct carbon mineralization from a live production flue. Aspiring Materials then collaborated with PepsiCo teams and executed a successful proof-of-concept project in November 2024, demonstrating an end-to-end point source carbon removal solution. These proof points and engagement with PepsiCo has helped Aspiring raise funds for its pilot plant, launching in Q1 2025.
THE COMPANY
Based in Christchurch, New Zealand, Aspiring Materials has developed a proprietary carbon removal technology that effectively captures carbon dioxide emissions using magnesium hydroxide, processed from a common mineral called olivine. Its innovative process rapidly captures carbon dioxide at point of emission, providing a verifiable method for safe, permanent and cost-effective carbon capture and storage. This technology has applications across a number of sectors, including manufacturing, packaging, construction and food & beverage.
THE OBJECTIVE / CHALLENGES
Prior to joining the accelerator program, Aspiring Materials had an overly technical brand story, and a complex revenue model. During the Greenhouse Accelerator, Aspiring Materials worked closely with PepsiCo mentors on marketing materials, business model optimization, and securing an opportunity to demonstrate proof of concept of their carbon mineralization technology in a real-life production facility. The program and in-depth mentorship helped the company to identify customers and channels, optimize its revenue model and accelerate fundraising for Stage 2 of their pilot plant.
THE PILOT
During the program, Aspiring successfully pitched PepsiCo Global Sustainability and APAC leaders and secured $300,000 USD towards a proof-of-concept pilot, and PepsiCo’s first carbon mineralization project. The company partnered with the PepsiCo Wiri site to pilot a carbon capture build deploying Aspiring’s technology on a tortilla chip line. The bespoke installation captured CO₂ emissions directly from a live snacks manufacturing line, mineralized emissions into magnesium carbonate, which can be used again for a variety of commercial applications or stored safely and permanently in ground. Third party laboratories certified CO₂ was successfully captured in this milestone demonstration.
IMPACT/RESULTS
A five-month mentorship with the PepsiCo’s Greenhouse Accelerator and the opportunity to pilot has helped Aspiring Materials successfully raise funds and validate its technology, demonstrating its application across a variety of industries. Aspiring’s pilot plant is set to start production in Q1 2025.
- First carbon mineralization pilot at PepsiCo
- First-of-a-kind pilot and proof of concept demo for Aspiring Materials
- $300,000 USD non-dilutive grant from PepsiCo awarded
- Aspiring Materials worked with five functions across PepsiCo during GHAC and this pilot
- Aspiring Materials was also the winner of the PepsiCo Associates Choice Award in 2023.
“Our participation in the program opened doors for discussions with end users and investors and follow-on engagement with global markets outside of New Zealand. Off the back of these engagements, we identified an opportunity for a first-of-a-kind carbon-removal and mineralization demonstration at the Bluebird facility in Wiri, Auckland. Funding to design and execute this project came from the PepsiCo global sustainability office and the APAC business unit.
“The bigger picture here is that this same industrial decarbonization technology demonstrated at Wiri can be applied to a wide range of industries and businesses that want to meet their carbon goals in a way that is cost-effective, meaningful, and safe.” – Katherine Izumi, Chief Operating Officer, Aspiring Materials
