MG Magna International Inc

The partnerships-focused accelerator is accepting applications from startups with solutions to decarbonize the automotive industry

SOMERVILLE, Mass. and HOUSTON, July 19, 2022 /PRNewswire/ -- The transportation sector is responsible for 16 percent of global greenhouse gas emissions. To reduce its footprint, we need technological breakthroughs and the right stakeholders to help them scale. That's why BASF, Magna, and Greentown Labs have partnered to launch Greentown Go Move 2022—a startup-corporate partnerships accelerator that's seeking applications from startups with material and recycling process innovations that decarbonize the lifecycle impact of the automotive industry.

More specifically, Go Move 2022 is interested in materials innovation for automotive efficiency and reducing lifecycle emissions; materials design for recycling and new recycling technologies; and materials innovation for shared and future mobility. Further details on the specific technology areas of interest can be found in the request for proposals.

Go Move 2022 is the inaugural program in the Go Move track of Greentown Go, Greentown's recently announced climatetech partnerships accelerator that injects momentum and traction into startup-corporate collaborations to decarbonize the global economy, unlocking the power of climate solutions at scale.

BASF, the Leading Partner on Go Move 2022, is a global leader in chemicals as well as the #1 chemical supplier to the automotive industry. It combines economic success with environmental protection and social responsibility. This program aligns with BASF's efforts to help enable a net-zero transportation industry by reducing lifecycle emissions, launching new recycling techniques, and creating new materials for shared and sustainable mobility.

"Sustainable innovation requires collaboration and creativity especially when it comes to transforming the transportation industry," said Gulay Serhatkulu, Sr. Vice President for BASF's Performance Materials business in North America. "BASF is eager to see what startups have to offer with the launch of Go Move 2022 and thankful to work with Magna and Greentown Labs on this initiative."

Magna, the Supporting Partner on Go Move 2022, is one of the world's largest suppliers in the automotive space. It combines more than 60 years of expertise with a systems approach to design, engineering, and manufacturing that touches nearly every aspect of the vehicle.

"We're proud to support the Go Move 2022 program, which is an important initiative in advancing our carbon neutrality efforts in the mobility industry," said Todd Deaville, Senior Director of Technology Evaluation and Innovation at Magna. "By joining forces with BASF and Greentown Labs and widening the ecosystem in this space, it will bring new innovations and solutions that neither party would be able to achieve alone. We're looking forward to seeing the fresh ideas of these entrepreneurs and startups."

The six-month, highly structured program offers startup participants engagement opportunities with BASF and Magna, including joint pilots, joint developments, purchase orders, investment opportunities, and more. Throughout the program, startups will benefit from mentorship, networking opportunities, educational workshops, and partnership-focused programming to support their collaborations. Finally, participants will receive desk space and membership at Greentown Labs for the duration of the program and $25,000 in non-dilutive grant funding.

Greentown Labs, the largest climatetech startup incubator in North America, runs Greentown Go programs across five tracks: Go Move (transportation), Go Make (manufacturing), Go Energize (energy and electricity), Go Build (buildings), and Go Grow (food and agriculture). These startup-corporate partnerships programs challenge the status quo within each key greenhouse-gas sector as they accelerate partnerships between industry giants and innovators.

"Decarbonizing the transportation sector is an enormous challenge, one which will require forward-thinking market leaders to work with inspiring entrepreneurs to identify the innovations that can profoundly scale," said Ryan Dings, Greentown Labs' Chief Operating Officer and General Counsel. "That is where Greentown Go comes in. We're so proud to be working with BASF and Magna, both of which possess an unwavering belief in the power of innovation and entrepreneurship to solve the complex challenges we face. We know they will do great work with the entrepreneurs who come through this program."

Applications for Go Move 2022 are due by Sept. 30, 2022 at 11:59 p.m. ET. Applicants may apply from anywhere in the world. To learn more and apply, visit the Go Move 2022 website.

Greentown Labs is a community of climate action pioneers working to design a more sustainable world. As the largest climatetech startup incubator in North America, Greentown Labs brings together startups, corporates, investors, policymakers, and many others with a focus on scaling climate solutions. Driven by the mission of providing startups the resources, knowledge, connections, and equipment they need to thrive, Greentown Labs offers lab space, shared office space, a machine shop, an electronics lab, software and business resources, and a large network of corporate customers, investors, and more. With its headquarters in Somerville, Mass. and an incubator in Houston, TX, Greentown Labs is home to 200 startups and has supported more than 450 startups since the incubator's founding in 2011. These startups have collectively created more than 8,400 jobs and have raised more than $2.2 billion in funding. For more information, please visit www.greentownlabs.com or Twitter, Facebook, and LinkedIn.

Go Move 2022 Media Contact:
Lara Cottingham
Chief of Staff, Greentown Labs
lcottingham@greentownlabs.com
281-797-9246

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. Around 111,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. BASF generated sales of €78.6 billion in 2021. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.

Magna is more than one of the world's largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of over 161,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering, and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 340 manufacturing operations and 89 product development, engineering, and sales centers spanning 28 countries. For further information about Magna [(NYSE:MGA; TSX:MG)], please visit www.magna.com or follow us on Twitter @MagnaInt.

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SOURCE Greentown Labs