Sea2Carbon

INSEAD

Industry: Industrials, Biotech

MBA Founding Student Name(s): Utsav Oza

Brief Description of Solution: Sea2Carbon presents an innovative solution to combat climate change and address challenges in hard-to-abate sectors through the utilization of invasive sargassum seaweed. The technology revolves around a modular reactor capable of transforming sargassum into multiple sustainable products, including bio-coal for steel production, marine biofuel, sustainable aviation fuel (SAF), and organic fertilizers. This process not only offsets harmful greenhouse gases released during seaweed decomposition, but also provides drop-in alternatives for steel, shipping, aviation, and agriculture, sectors responsible for 16-20% of global emissions.

Funding Dollars: Raised ~$25,000 through competition and grants (equity-free).

What led you to launch this venture? Motivated by a deep commitment to innovation and a desire to make a tangible impact, I earned my PhD in Aerospace in 2016 and initially built my career in Aerospace R&D. However, a personal tragedy in 2020—the loss of my sister to a genetic disease—profoundly reshaped my outlook. She was passionate about sustainability and climate action, and her legacy inspired me to channel my skills toward a cause that could drive meaningful, lasting change.

This shift inspired me to transition from aerospace into a climate-tech corporate VC role, where I had the opportunity to contribute to investments in groundbreaking ventures like TerraPower—a nuclear fission company co-founded by Bill Gates—and Boston Metal, a transformative green steel technology. These experiences enriched my understanding of the challenges and possibilities in decarbonizing hard-to-abate sectors. Now, with Sea2Carbon, I am dedicated to building a venture that scales impactful solutions for the planet. Through this work, I aim to provide sustainable biofuels that support a net-zero future for industries vital to modern society.

What has been your biggest accomplishment so far with venture? My biggest accomplishment so far with Sea2Carbon has been laying the foundation to scale rapidly by leveraging proven technologies, building a strong expert team, and forming strategic partnerships with leading institutions.

Finalizing Technology Roadmap: Rather than developing an entirely new technology, we focused on adapting and integrating existing, proven technologies from other sectors. This approach allows us to accelerate development and bring our products to market more quickly.

Onboarding Team and Advisors: It was assembling a highly skilled team and advisory board has been pivotal to Sea2Carbon’s progress.

* Professor Christine Maggs, our Chief Sustainability Officer, is a leading phycologist with extensive experience in sustainable seaweed exploitation and marine conservation.

* Jose Gomes, our Chief Operating Officer, is a renewable energy expert with 7 years’ experience in product development strategy and supply chain optimization at leading firms such as Siemens Gamesa, General Electric, and Vestas.

* Professor Magda Titirici, a materials chemistry expert at Imperial College London, has led research in sustainable energy materials and is a recognized authority in carbon hybrid materials—an area crucial to our bio-coal development.

* Vincent Doumeizel, Senior Advisor on Oceans to the UN Global Compact and leader of the Global Seaweed Coalition, provides invaluable guidance on sustainable marine practices and connections with key stakeholders in the marine biomass ecosystem.

* Juan R. Dominguez, General Manager in the Mergers and Acquisitions team at ArcelorMittal, along with his experience in the steel sector, Juan brings over 25 years of experience in investment banking, private equity, and corporate M&A, with a specific focus on the metals and mining sectors.

* Deepak Devendrappa, former Global Director of Low Carbon Fuels at Methanex, offers expertise in the commercialization of low-carbon fuels across marine, road, and aviation sectors, helping us navigate the regulatory and market landscape for biofuels.

Building Partnerships: Partnering with the right institutions in the UK has been crucial to build a solid roadmap for Sea2Carbon’s technical validation and scalability. We are collaborating with Imperial College London for techno-economic assessments, which ensures our approach is viable and competitive in the market. Additionally, our partnership with the Materials Processing Institute (MPI) supports industrial testing of our bio-coal, ensuring it meets the performance requirements for steel production. The Biorenewables Development Centre (BDC) is also a key partner, assisting with lab-scale conversions of our biofuels for the shipping and aviation sectors. These collaborations have strengthened our technology validation pathway.

First Accelerator Programme: Sea2Carbon finished the Better Futures Accelerator Programme (Aug-Dec 2024) funded by the UK government and supported by Sustainable Ventures.

First Venture Competition: Sea2Carbon won €15,000 prize as a runner-up at the INSEAD Venture Competition in Dec 2024.

What has been the most significant challenge you’ve faced in creating your company and how did you solve it? Our biggest challenge was finding a sustainable technology solution that also met favorable unit economics for the business (especially for bio-coal production) and benefits some of the most vulnerable communities.

To address this challenge, we did the following:

1) Focused on process innovation and optimized existing technologies to control costs and plan to collaborate with partners like Imperial College, Materials Processing Institute, and Biorenewables Development Centre in the UK for process validation. By relying on marine biomass, especially fast-growing algal species that don’t require arable land or freshwater, we aligned our production with sustainable practices.

2) Extracting maximum value from the marine biomass by producing bio-coal for steel, marine biofuel, sustainable aviation fuel, and bio-stimulants (organic fertilizer), we expanded our revenue streams and spread production costs across multiple industries.

This strategy positions Sea2Carbon to deliver cost-effective, sustainable solutions that support global net-zero transitions while empowering vulnerable communities through economic opportunities and environmental restoration.

How has your MBA program helped you further this startup venture? I began working on solving this problem even before starting my MBA at INSEAD in January 2024, with a clear vision of pursuing an entrepreneurial path. The MBA program has provided the ideal environment and flexibility to shape my experience as an accelerator for launching my venture. Numerous courses and professors have played an essential role in this journey, offering insights and frameworks that have been pivotal to Sea2Carbon’s development.

The mentorship and guidance I received through the Maag Centre and INSEAD’s Venture Competition have been invaluable. Feedback from seasoned mentors helped us refine our strategy, enhance our pitch, and strengthen our business model. Additionally, the Hoffman Institute’s resources have offered deep insights into sustainability and responsible business practices, aligning Sea2Carbon’s mission with broader social and environmental objectives.

What founder or entrepreneur inspired you to start your own entrepreneurial journey? How did he or she prove motivational to you? My sister inspired me to embark on this entrepreneurial journey. When she was diagnosed with a genetic disease and given a few years to live, she chose to focus on her mission to make the world better instead of dwelling on her pain. Despite her illness, she transformed from a compassionate and caring housewife into a purpose-driven entrepreneur. She started an Amazon store to sell biodegradable alternatives to plastic, working tirelessly to send out hundreds of parcels each month, even as she endured significant physical suffering—all without seeking profit.

Her resilience and unwavering compassion are my motivation. She cared for the planet, even though she knew she was not going to be here for long. I carry forward her spirit and compassion in my heart, using her dedication to drive me toward creating a meaningful impact through Sea2Carbon.

What professor made a significant contribution to your plans and why? Although there were multiple subjects and professors that helped me through my entrepreneurial journey, I have highlighted some key topics/courses below that helped me on my journey so far.

* Building Business in Silicon Valley (Gopi Rangan): The one-week immersion in Silicon Valley allowed me to learn directly from successful founders and investors. It gave me a deeper understanding of scaling strategies and venture capital dynamics, which I can apply to Sea2Carbon’s growth trajectory.

* New Business Ventures (Prof. Henning Piezunka): This module provided practical tools for evaluating business opportunities and understanding the startup lifecycle, which has been invaluable in shaping Sea2Carbon’s initial strategies and positioning.

* Sustainable Finance (Prof. Lucie Tepla): Prof. Tepla’s insights into sustainable finance broadened my understanding of the financing landscape for climate-tech startups, helping me craft a capital strategy that aligns with the long-term mission of Sea2Carbon.

* Energy Transition and Climate Finance (Prof. Pierre Hillion): This course was instrumental in understanding the financial frameworks necessary to drive the energy transition, knowledge that directly supports Sea2Carbon’s mission to decarbonize hard-to-abate sectors.

* Entrepreneurship in Action (Prof. Vikas Aggarwal): Prof. Aggarwal’s course encouraged hands-on application of entrepreneurial frameworks. It provided me with actionable insights on developing Sea2Carbon’s business model, pivoting when necessary, and managing startup risks.

* Blue Ocean Strategy (Prof. Renée Mauborgne): Learning the Blue Ocean Strategy gave me the tools to identify unique opportunities within the crowded climate-tech space. This helped me design a strategy for Sea2Carbon that focuses on untapped market potential for sustainable biofuels.

* Ethics (Prof. Gianpiero Petriglieri): Prof. Petriglieri’s research on leadership as an act of love inspired a new perspective on leadership in entrepreneurship. His insights reinforced the idea that building a venture is not only about economic goals but about fostering a community and creating value for all stakeholders.

* Choosing to Care & Caring to Choose (Prof. Subramanian Rangan): This course emphasized the importance of making choices, not just decisions. The conscious choice to create a sustainable and impactful venture like Sea2Carbon stems from this understanding that our business should be driven by purpose as much as by profit.

* Management Decision Making (Prof. Ashwer Lawson): This module provided decision-making frameworks that have been essential in balancing the trade-offs in Sea2Carbon’s strategic and operational planning, particularly when addressing complex issues around sustainability and profitability.

* Organisational Behaviour (Prof. Ella Miron-Spektor): It was a virtual case study on challenges faced by a small island developing state resonated deeply with Sea2Carbon’s mission. It connected me with the environmental and socioeconomic issues that low-income coastal communities experience. It reinforced my commitment to building a venture that can create positive impacts for these communities through sustainable practices.

How has your local startup ecosystem contributed to your venture’s development and success? The ecosystem at INSEAD offers access to a vibrant network of entrepreneurs, investors, and mentors who bring invaluable expertise and insights. Through local incubators and networking events, I’ve connected with climate-tech pioneers and sustainability-focused investors who understand the unique challenges and opportunities in decarbonization, providing guidance and connections that have accelerated Sea2Carbon’s growth.

What is your long-term goal with your startup? Our long-term goal with Sea2Carbon is to make sustainable green transition solution technology economically viable and accessible, especially for developing countries and climate-vulnerable regions like Small Island Developing States (SIDS). We envision a future where these nations play a pivotal role in the global biofuel supply chain. By empowering SIDS and other climate-impacted regions to produce a significant share of the world’s biofuel, we aim to strengthen their economic resilience, create local jobs, and elevate their influence on the global stage.

Through Sea2Carbon, we aspire to drive sustainable energy production that directly supports regions most affected by climate change. By making biofuel production both affordable and scalable, we can offer a practical solution that addresses global energy demands while advancing climate resilience. Our ultimate vision is a sustainable, inclusive energy future led by developing nations and states, where they are recognized and supported as key contributors in the fight against climate change.

Looking back, what is the biggest lesson you wished you’d known before launching and scaling your venture? Looking back, the biggest lesson I wish I’d known before launching Sea2Carbon is the value of building the right partnerships early on. Initially, I was focused on perfecting the technology and product-market fit, assuming that strategic partnerships could come later. However, I’ve learned that forming alliances with key industry players, research institutions, and potential customers from the very beginning can accelerate both development and credibility, especially in a resource-intensive field like sustainable energy. These early partnerships not only bring technical expertise and shared resources but also provide invaluable industry insights that can guide the venture’s direction.

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