CO2L: Pioneering Sustainable Solutions in Climate Technology

As CO2L grew, Tranly recognized the need for skills beyond scientific expertise “Funding is crucial, but equally important is having a diverse skill set for technology development and deployment. Transitioning from a lab-focused role to industry requires expertise in business, marketing, and sales. It’s essential to adapt your commercial strategy, as your initial market may differ from your long-term goals.” Balancing funding with a well-rounded skill set is key to successfully transitioning technology from the lab to the market. 

Strategic market entry is also crucial, especially in climate tech. TranLy cautioned against rushing to market with an imperfect product: ” With hard tech and climate tech, if you rush a product to the market that’s imperfect, it could be tricky and potentially damage your reputation in a mature industry.” Entrepreneurs need to balance the pressure to launch quickly with the need for a reliable product. Starting with a minimum viable product (MVP) that addresses a specific need and planning for iterative improvements based on real-world feedback can be an effective approach.  

Timing fundraising efforts strategically is crucial. CO2L is carefully planning its next funding round. TranLy shared, “We’re not actively fundraising right now because we’re focused on achieving a key technical milestone. While we’re in touch with various VCs and investors who align with our goals, we plan to start fundraising in the middle of next year.” Moreover, climate tech startups often face uncertainties related to policies and market demand. TranLy mentioned challenges like inconsistent carbon taxes and changing regulations. To address this, entrepreneurs should stay informed about policy changes that could affect their market, develop flexible business models that can adapt to changing regulations, and consider diversifying product applications to reduce dependence on a single market or policy. 

The entrepreneurial journey can also be emotionally challenging. TranLy advised, “As a founder, the journey can be stressful and frustrating, so it’s vital to surround yourself with supportive people and prioritize your health. Remember, it’s a marathon not a sprint, and every sales cycle can take years, but together we can support one another along the way.”  

Throughout her journey, TranLy has remained focused on creating meaningful impact. She believes in the power of multiple solutions working together: “If each solution can address millions of tons of CO2, thousands of such solutions could collectively tackle the gigatons of CO2 emissions we face.” Entrepreneurs should stay connected to the larger purpose behind their work, consider how their solution fits into the broader ecosystem of climate solutions, and use their impact goals to motivate themselves and their teams during challenging times. 

Dr. Anh TranLy’s journey with CO2L Technologies offers a wealth of insights for entrepreneurs in the climate tech space. Her experiences highlight the unique challenges and opportunities in translating scientific innovations into market-ready solutions. The path from lab to market in climate tech is challenging, but with the right approach, it offers the potential for significant business success and positive environmental impact. As the climate tech sector continues to grow, entrepreneurs who can navigate these challenges while staying true to their mission will be well-positioned to make a real difference in addressing climate change. 

Watch the Ask the Founder with Dr. Anh TranLy