Blackcurrant is a B2B marketplace to buy and sell #hydrogen and obtain market and other data for hydrogen products. Blackcurrant applies advanced machine learning to predict hydrogen pricing and demand growth.
Blackcurrant, B2B marketplace to buy and sell hydrogen, adds to its accolades as the winner of the 2023 George Shultz Innovation Fund – a win that follows its New Venture Challenge success and acceptance into the Polsky Center’s new data science and AI accelerator.
Managed by the Polsky Center for Entrepreneurship and Innovation, the George Shultz Innovation Fund provides up to $250,000 in co-investment funding for early-stage science-based ventures coming out of the University of #Chicago, Argonne National Laboratory, #Fermilab, and the Marine Biological Laboratory.
“There was rigorous analysis and debate throughout the Innovation Fund decision-making process. After much discussion, #Blackcurrant emerged as a favorite because they are a first mover tackling a unique problem in the hydrogen space with a highly experienced and motivated team,” said Omkar Bhave, director of investment strategy at the Polsky Center.
Blackcurrant is addressing the hydrogen market’s challenges, including limited price visibility, time-consuming contracts, unmet hydrogen demand, inadequate buyer adoption tools, and fragmented demand visibility for producers. Its unique platform brings hydrogen producers, transporters, and buyers together, offering a price and volume discovery tool that provides accurate market pricing and introduces the world’s first hydrogen index. This increased transparency enables well-informed decision-making and enhances market efficiency.
The funds will be used for “innovating hydrogen trading,” said CEO Akshay Thakur, MBA ’24, who cofounded the company with Yaroslav Kharkov, CTO.
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