Space Park Leicester ESA BIC UK start-up nominated for prestigious Earthshot Prize

Kita, the carbon insurance specialist for the climate crisis, has been nominated for a prestigious Earthshot prize in the Fix Our Climate category.

This recognition comes shortly after the company became the third to join the European Space Agency Business Incubation Centre (ESA BIC) programme at Space Park Leicester.

The Earthshot prize, launched by Prince William in 2020, aims to incentivise and accelerate solutions to the world’s greatest environmental challenges. The Fix Our Climate category specifically seeks solutions that address the urgent need to reduce greenhouse gas emissions and achieve net-zero carbon by 2050.

Kita’s nomination for this prestigious award is a testament to its outstanding efforts to help companies reach net zero emissions. Its insurance protects buyers of forward-purchased carbon removal credits against under-delivery. This reduces the risk of missing net-zero targets, investment milestones, and project goals.

Kita uses sophisticated remote monitoring technologies to enable this multi-year insurance product to be provided cost effectively, while at the same time providing an additional layer of transparency to their clients.  

Dr Paul Young, Chief Technical Officer at Kita, said: “We are honoured to be nominated for an Earthshot prize and proud to be part of the ESA BIC programme at Space Park Leicester. This recognition and support will help us accelerate our mission to create a more sustainable future for our planet.”

Kita has been nominated for the Fix Our Climate category by Purpose Driven Innovation Ecosystem (PDIE Group), an organisation that is building a global ecosystem for game changers who are co-creating a better tomorrow. PDIE Group are one of the top Earthshot Prize nominators.

William Wells, Director of ESA BIC UK at Leicester, expressed his excitement at Kita’s nomination, saying: “We are thrilled to have Kita as part of our ESA BIC programme and to see their innovative solutions recognised on a global scale. This nomination is a testament to the impact that space technology can have in tackling some of the world’s most pressing environmental challenges.”

Through its participation in the ESA BIC programme at Space Park Leicester, Kita has access to a range of resources, including technical expertise, funding, and networking opportunities. This support will enable the company to further develop and scale its solutions, bringing them to market faster and more effectively.

Dr Francesca Faedi, Astrophysicist and University of Leicester Innovation Hub Earth Observation Fellow, added: “Kita’s nomination for an Earthshot prize highlights the crucial role that space technology can play in addressing climate change. As the company continues to develop and scale its solutions, it has the potential to make a significant impact on the environment and inspire others to do the same.”

Since 2010, more than 100 start-ups have joined the ESA BIC programme, which operates at four different locations across the UK.

By joining the programme, businesses are allowed to use space and satellite technologies to develop new innovative products and services.

The ESA BIC UK is managed and partly funded by the Science and Technology Facilities Council (STFC), in collaboration with ESA Space Solutions, the UK Space Agency and the University of Leicester.

It provides start-ups with a carefully designed two-year support package to help them through the development of their game changing products and services in an increasingly competitive and global marketplace.

To find out more about the ESA BIC programme at Leicester, follow this link: https://dev.space-park.co.uk/innovation/esa-bic/.

Space Park Leicester has been designed to support increased collaboration between University of Leicester researchers and educators and the private sector, creating high quality knowledge-based jobs, building the skills base through training, and contributing to economic growth and resilience of the economy.

The project is led by the University of Leicester in partnership with Leicester City Council and the Leicester and Leicestershire Enterprise Partnership (LLEP).