Finance

The Tax Rule That Inspired Billionaires and Movie Stars to Back Climate Moonshots

Prime Coalition has raised $76 million to fund early-stage companies

Treau CEO Vince Romanin looks over their prototype low-carbon air conditioner.

Source: Prime Coalition 

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When a plant, paper mill, or other industrial facility needs to separate different chemicals, it typically uses a lot of heat—processes that pump gigatons of carbon dioxide into the atmosphere. Shreya Dave, 32, and Brent Keller, 30, were graduate students at the Massachusetts Institute of Technology when they had an idea for a membrane that could do the job without all that energy use.

David Snydacker, 33, with a fresh Ph.D. from Northwestern University, came up with a cheaper and cleaner way to extract lithium, an element in great demand thanks to a boom in electric vehicles and other technologies that rely on lithium batteries.