Blackcurrant Inc., a marketplace to help accelerate low carbon fuel adoption by simplifying transactions and lowering costs, has been selected by Chevron Technology Ventures, LLC (CTV) as part of its Catalyst Program™.
The Blackcurrant platform is designed to streamline purchasing of hydrogen by connecting buyers, suppliers, transportation, and storage companies in a single data driven, easy to use platform. Purchases transacted on Blackcurrant can reduce the time it takes to make a hydrogen purchase from months to as little as one day.
The start-up plans to offer other low carbon fuels on the platform in the near future.
The Catalyst Program™ was launched by Chevron in 2017 to promote and accelerate innovation from early-stage companies that may benefit the energy sector. The selection of Blackcurrant marks a significant milestone for the company.
The Blackcurrant platform provides dynamic, artificial intelligence (AI) driven price and volume discovery, granular carbon intensity scoring per transaction, and innovative capabilities such as hydrogen credit trading. This is valuable for the currently opaque hydrogen market that historically used manual methods of transacting and could take up to 8 or more months to complete a purchase. On Blackcurrant, these offtake agreements have the potential to be executed in less than one day.
“Blackcurrant is excited to be selected by Chevron as part of the Catalyst Program,” said Akshaykumar Thakur, CEO and Co-Founder of Blackcurrant. “The program will help Blackcurrant’s mission of accelerating the low carbon hydrogen fuel market.”
