Knoxville, TN – The University of Tennessee Research Park proudly celebrates the acquisition of Holocene, a Knoxville-based direct air capture (DAC) startup, by Occidental Petroleum (Oxy)—a landmark milestone for the region and the Spark Innovation Center. This acquisition underscores the power of East Tennessee’s innovation ecosystem, where academic research, federal labs, and entrepreneurial support converge to propel cutting-edge technologies.

From Spark to Success: Holocene’s Journey at UT Research Park

Holocene was founded by Anca Timofte, Keeton Ross, and Tobias Rüesch. This team of innovators shared a mission of advancing large-scale DAC technology. Holocene’s origin emerged from a license out of Oak Ridge National Lab (ORNL), technology development through ORNL’s Innovation Crossroads program, and lab space through the Spark Incubator, which is a program facilitated by Spark Innovation Center at the UT Research Park. Their access to lab space and mentorship in the Institute for Advanced Materials and Manufacturing (IAMM) helped them refine their DAC technology, which captures CO₂ from the atmosphere for sequestration or utilization.

Anca, Keeton, and Tobias are excited for their next steps and proud of their team’s warranted accomplishment. Co-Founder, Keeton Ross, shared these thoughts with us:

“It’s remarkable to see what our team was able to accomplish in such a short period of time, ultimately delivering this breakthrough DAC technology to the next stage of its scale up journey. We couldn’t have asked for a better home for our team and technology, and a better outcome in general. We hope our success can pave the way for other entrepreneurs and companies and show that east TN is a place to watch!”

East Tennessee: A Hub for Climate Innovation

Holocene’s acquisition is a testament of the institutional collaborations that supported this resounding win:

🎓 University of Tennessee Knoxville (UTK)

🔬 Oak Ridge National Laboratory (ORNL)

✨ Innovation Crossroads

🔬 UT Institute for Advanced Materials and Manufacturing (IAMM)

⚡ Tennessee Valley Authority (TVA)

✨ Spark Innovation Center

Oxy’s acquisition signals confidence in Holocene’s scalable DAC solutions, aligning with Occidental’s 1PointFive initiative to deploy carbon removal at scale. Analysts, including those at Forbes, highlight this deal as a sign of the carbon removal industry’s maturation, with startups like Holocene proving that innovative climate tech can attract major corporate investment.

A Bright Future for East Tennessee Startups

With success stories like Holocene, East Tennessee is proving itself as a launchpad for scalable, high-impact tech companies—particularly in cleantech, advanced materials, and energy innovation. What’s Next for the Region? Holocene’s acquisition sends a clear signal: Knoxville is open for tech business!

Congratulations to Anca, Keeton, Tobias, and the entire Holocene team—your achievement inspires the next generation of East Tennessee innovators!

About the Spark Innovation Center

The Spark Innovation Center is an initiative of the University of Tennessee Research Park that leverages the unique science and technology resources of the region to help high-tech, high-impact startups grow, succeed, and stay in East Tennessee. Spark offers promising technology companies access to top-quality lab space, expert mentoring, and support services from regional partner organizations. Since 2020, Spark has supported 40 startup companies that have collectively raised 108 million dollars and created 170 jobs.

The Spark Innovation Center is supported by the University of Tennessee, the City of Knoxville, the Department of Energy, the Appalachian Regional Commission, Launch Tennessee, the Tennessee Advanced Energy Business Council, Oak Ridge National Laboratory, TVA, the Truist Foundation, and works in close partnership with the region’s Innov865 Alliance and the Heartland Climate Tech Partnership.  For more information, visit tnresearchpark.org/spark/.

About UT Research ParkLocated in Knoxville, the UT Research Park fosters collaboration between academia, industry, and government to accelerate high-impact startups. Anchored by the Spark Innovation Center, IAMM, and proximity to ORNL, the park is a cornerstone of Tennessee’s innovation economy.

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For more on Holocene’s acquisition, visit Teknovation, Forbes, Heatmap, and C&EN.