“Spark Cleantech Accelerator” alum, Groundstar, selected for two accelerator programs

The climate technology focus of Groundstar is done under the Metasorbex brand, and the Nashville-registered company is one of 127 start-ups selected as a member of the “2023 MassChallenge Early Stage Growth Cohort” and also Venture For ClimateTech.

Last week was a good one for MetasorbexTM Corporation. When it participated in the inaugural “Spark Cleantech Accelerator” last summer, the company was one of several technologies that were part of an entity known as Groundstar LLC. It was not a separate company.

Today, the climate technology focus of Groundstar is done under the MetasorbexTM brand, and the Nashville-registered company is one of 127 start-ups selected as a member of the “2023 MassChallenge Early Stage Growth Cohort.” It is a four-month accelerator that is focused on early-stage ventures. Another 59 promising, high-potential start-ups will participate in a more limited 30-day program called foundations where they will deep dive into their business models and refine their problems and solutions. The 186 companies were selected from more than 1100 applicants.

Also last week, Venture For ClimateTech announced that it had selected MetasorbexTM and 19 other early-stage companies to participate in its third cohort and advance innovations to reduce carbon emissions and fight climate change (see article here). The companies were selected based on their high-potential solutions and ability to bring innovations to scale. They will receive up to $100,000 in funding and hands-on support to ready their technologies for customers, pilot runs, and investment towards commercialization.

With its principal office in Cincinnati, OH where founder Ed Chan lives, MetasorbexTM is a deep tech company in advanced materials focusing on climate change to include carbon capture for reduction and removal.

“When it rains, it pours,” Chan told us during an email exchange.

According to information provided to the selected start-ups, both those in the growth and foundation cohorts will participate in the MassChallenge LEANSTACK curriculum. In addition, MetasorbexTM and the others in the growth cohort will be part of one of four specialized tracks: HealthTech, Safety and Security, Climate, and Social Impact. They will also be afforded opportunities to connect with corporate partners, investors, alumni, and mentors both virtually and in-person through events, residency in one of our U.S. offices, and Market Access events.

“We are in the Climate Track and a subsection called Decarbonization 1,” Chan said.

What is the meaning of the name MetasorbexTM? He said it starts with “Meta which, when used in the Greek sense, connotes “more comprehensive.” Sorbex is a contraction of two words – sorbent and technology. Sorbent is a materials platform central to carbon capture methods. Technology is a persistent advancement of cost and performance of sorbent.”

Chan said that the new branding was done with the help of Brian Krumm at the Transactional Law Clinic at the University of Tennessee (UT), Knoxville. He also praised the team at the UT Research Park – Tom Rogers and John Bruck – which operates the “Spark Cleantech Accelerator” as well as Ira Weiss, one of the program mentors.

MassChallenge is the global network for innovators. Headquartered in the U.S. with eight locations worldwide, it is the mission of the nonprofit to help bold entrepreneurs disrupt the status quo and create sustainable change. Since launching in 2009, MassChallenge has run programs in 24 countries, supported more than 4,000 start-ups from around the world, and awarded more than $18 million in equity-free cash and prizes.

Venture For ClimateTech is supported by the New York State Energy Research & Development Authority (NYSERDA) and advances technologies that will help meet New York State’s climate and clean energy goals under the Climate Leadership and Community Protection Act.