Stories of Technology, Innovation, & Entrepreneurship in the Southeast

In a small, intimate Founders’ Forum at the Smoky Mountain Brewery on Thursday afternoon, about a dozen people gathered to hear the inside scoop behind the Holocene– Google deal.

It’s one of the largest, most visible, and validating deals ever from an Innovation Crossroads company. For reference, see the teknovation.biz article, where we detail how Google signed its first-ever direct air capture (DAC) deal with Holocene from East Tennessee.

Keeton Ross, the company’s Co-Founder and President, presented at the monthly Founders’ Forum. He conducted the session like an “ask me anything” session.

He started by explaining Holocene’s mission to serve as a sky vacuum for CO2. The captured carbon can then be used to make other products or put back into the ground (where it originally came from).

So, why would Google have a vested interest in DAC?

“Google committed to being net zero and needed to pay someone else to help them get there and offset their emissions,” Ross said. “That’s where we come in.”

Perhaps one of the most interesting facts of the deal is that Google did not issue a request for proposals (RFP) from any other DAC companies. Ross said the connection was completely organic.

“It was classic business development. Someone I used to work with at another start-up now was working for Google. I inquired about money that the company was deploying for decarbonization efforts – and got the conversation started,” he said.

Another interesting fact of the Google deal is that the money was provided to Holocene up front, with a goal to achieve by 2030. Ross said this type of deal is rare and special.

“Many of these major companies believe that they will be charged for their emissions in 10 years, so there’s a big push to be proactive and carbon-neutral now,” Ross said. “Google strongly believes in our technology and that we will help save them money in the long run.”

So, what’s next for the East Tennessee start-up that just keeps growing?

Ross said their goal for the next year is to hire 15 more people and buy half an acre to build a new, larger pilot facility. Yes, the company just opened its new office and lab space off Papermill in May (see teknovation.biz article), but they are growing fast.

Ross wrapped up the session with an appreciation for the deal and how it has helped the credibility of Holocene.

“The financial commitment from Google is great. But the validation from being backed by such a large corporation is the real gain,” he said.

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