💚 Take a look at what happened in the European climate tech startup ecosystem last week! 👀
🌡️ A new IPCC report warns that the impacts of global warming are now simply “irreversible”. But the authors of a new report say that there is still a brief window of time to avoid the very worst. This new report looks at the causes, impacts, and solutions to climate change. It gives the clearest indication to date of how a warmer world is affecting all the living things on Earth.
🔬 The European Circular Bioeconomy Fund closed €300M to finance the growth of companies in bioeconomy and biobased circular economy. The fund will be used to scale companies committed to the environmental, social, and governance integration, in order to change from a linear, fossil-based economy to a sustainable, bio-based economy.
✨ Revent launched a €60M fund to focus on early-stage European startups offering solutions on climate tech, health, well-being, and the future of food. The early VC is offering between €200k and €2M as economic empowerment, backing startups with both purpose and profit. The firm gathers a community of purpose-led founders, investors, and scientists to drive systemic change in climate, healthcare, education, and finance.
🤑 Creandum has raised its sixth fund — a $500M fund to back seed and early-stage startups in Europe. While many European venture capital firms have tended to start investing in later-stage startups, Creandum has maintained its early focus. 70% of the investments from its latest fund were at the seed stage. Creandum, unlike other VCs, it’s about networking on a local level and using LinkedIn to the fullest. Creandum, together with Northzone, was the first VC to invest in Daniel Ek’s music tech startup Spotify in 2008.
🛵 Electric vehicle charging startup, eMabler, and Fusebox, a virtual power plant provider, have joined forces to use EV charging to balance the energy grid. In this collaboration, energy costs will be reduced and EV charging station owners will be empowered to contribute to a greener, more sustainable environment.
🔋 Northvolt has announced the signing of a letter of intent on a purchase of the Kvarnsveden Mill and the surrounding industrial area in Borlänge, Sweden. Northvolt will develop the site into a manufacturing plant for battery cells, reusing and refurbishing much of the existing facilities and site infrastructure. The gigafactory is expected to start the first part of its operations in late 2024 and will employ up to 1.000 people, utilizing 100% clean energy from the region.
👌 Over one thousand B Corps: towards the zero-emissions goal by 2030. A study by the Swiss Re Institute estimates a 10% loss in global economic value due to climate change by 2050 in the absence of corrective action. It is also for this reason that over 1,000 B Corps around the world have already committed themselves to achieve net-zero emissions by 2030. A movement started by companies that have integrated into their statutes the common goal of reinventing society through their business, creating a positive social and environmental impact.
💵 14 climate tech investors share their H1 2022 strategies. The climate emergency is becoming more apparent, and investors are taking notice. Last year, round sizes for climate tech startups quadrupled, with more than 600 investments totaling over $40 billion. The start of 2022 shows no signs of slowing. Take a look at the conclusions from a survey targeted at an international group of investors to learn about how they evaluate new opportunities and what they’re looking for from the entrepreneurs who approach them.
🐆 EU-Startups spoke to European investors across the continent to hear more about their insights into what areas they are watching in sustainability and about which European startups they are most excited about. We are expecting that funding into sustainability startups will reach a record high this year. In 2021, €8.8B was invested in European sustainability startups versus in 2020 when €4.7B was invested. As investors increasingly will be putting money into sustainability, impact measurements will also be an increasingly important component in the investment process.
🪂 Researchers at MIT and elsewhere have developed an entirely new type of catalyst material, called a metal hydroxide-organic framework (MHOF), which is made of inexpensive and abundant components. This inexpensive catalyst speeds the production of oxygen from water, the material could replace rare metals and lead to more economical production of carbon-neutral fuels.
🎖️ Startups are testing new technologies to solve the challenges facing conventional nuclear. Will advanced reactors solve nuclear’s problems? Listen to this episode where guest host Lara Pierpoint speaks with Jake DeWitte, co-founder and CEO of Oklo, one of the many advanced nuclear companies that have emerged in recent years.
✍🏻 ZERO is the Italian Cleantech Accelerator of the National Accelerators Network of Cassa Depositi e Prestiti (CDP), launched by CDP Venture Capital Sgr – National Innovation Fund, Eni, LVenture Group, and ELIS, with the support of Corporate Partners Acea, Maire Tecnimont and Microsoft. ZERO was created to intercept startups with great business potential and a zero-impact solution for the environment. Each startup will get an €80K investment in a 5-month accelerator program.
🥥 The climate crisis is affecting business models as well as the humans who keep those businesses running — both employees and customers. Climate change, particularly extreme weather, directly impacts 70% of economic sectors; the US could lose $520 billion due to rising global temperatures. Just as companies in the 2010s needed to deploy software to survive, in the 2020s every company needs to become a climate crisis-fighting company.
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