⚡️ How to stay warm without overheating the planet
With the increases in gas prices, government policies promoting sustainable heating, consumer demand and declining costs, the market opportunity for sustainable space heating is growing. However, venture capital funding is lagging — less than 1% of all climate tech VC investments were made here.* I am on the lookout for climate funds that see this potential.
Some examples of startups reinventing heating:
- Woltair uses AI and software to help homeowners find the optimal heating solution(s) and seamlessly get it installed
- Triple Solar develops heat pump panels that use solar radiation to heat water directly, making electric heating easier and more efficient
- GA Drilling allows access to geothermal energy in deeper locations, which means more carbon-free heat in many more places
Read my thoughts on space heating here.
🚀 Is climate tech ready to capitalize on 2022's funding?
Check out the recording of our latest webinar where two climate investing experts and a leading economist discussed the following topics:
- Key macroeconomic trends for 2023
- The state of the energy transition
- Early-stage company valuations
- The evolution of investing to include the impact axis
- Can Europe keep up with the US?
- The biggest opportunities in 2023
💡 Updates on three companies within our funds
Noon Energy develops a low-cost carbon-oxygen battery technology to store electricity for 100+ hours. Clean Energy Ventures led its $28m Series A funding round.
Aerones revolutionizes the complex and costly process of wind turbine maintenance and repair. Its robot-enabled solutions are up to six times faster, 40% more efficient and safer than conventional solutions. It secured $30m in its latest funding round, co-led by Lightrock.
Funga uses DNA sequencing and machine learning tech to place the right fungal microbiome in the right place to improve forestry outcomes and sequester more carbon. Azolla Ventures led its $4m seed funding round.
You can explore more companies within our funds here.
📚 Interesting reads
Huge rare earth metals discovery in Arctic Sweden
Sweden's discovery of 1 million tons of rare earth materials (1% of total global reserves) is good news for the energy transition. With 98% of the EU’s rare earth imports currently coming from China, the newfound reserves also help the EU move towards a more self-sufficient and sustainable energy future.
Net-Zero Asset Owner Alliance outlines requests for asset managers in private markets
The Alliance is a call to action for all private asset managers to better represent their clients’ long-term interests by integrating climate change considerations — especially climate risk management — across all their business activities, including investment decisions. I hope it catches on!
EU sets out green industry deal to take on U.S. and China
The European Commission has outlined its Green Deal Industrial Plan for Europe to grow and safeguard green industry in the race towards net zero. Subsidies, simplified regulation, skills development and trade openness are proposed as key elements of the Plan, which EU Member States must first approve.
Those Vegan Cowboys Unveils its First Cheese Made with Microbial Caseins
Founded by the founders of The Vegetarian Butcher (De Vegetarische Slager), the Belgian food-tech company has created its first animal-free cheese. Its manufacturing machine, “Margaret,” utilizes microbes for proteins, a process that can revolutionize the dairy industry.
Vegavlees in een dip? 'De markt groeit gewoon door' (Dutch)
Last year, sales of plant-based meat replacements stalled. Where some thought this was the end of the growth curve, Pablo Moleman explains that it’s situational. The most important metric? Market share — and as meat sales have decreased more than those of alternative proteins, we’re still heading in the right direction.
Read more about climate investing with Carbon Equtiy here.