Tech Nation Aids Green Startups Combatting Climate Change
Technology's role in fighting climate change is undeniably crucial, driving the demand for climate tech ever upwards. However, as noted by global consultancy PwC, there's been a dip in investment funnelled into this vital sector for two consecutive years, a descent exacerbated by challenging market dynamics, as detailed in their 2023 climatetech investment review.
Enter Tech Nation, a beacon for the climate-focused tech landscape. After a decade of supporting startups and scaleups, and a brief hiatus following a withdrawal of government support, Tech Nation is back with renewed vigour.
This return is marked by a significant commitment: directing £10 billion of private capital towards the nurturing of innovative startups.
Tech Nation: Championing climate tech pioneers
Through Tech Nation's robust accelerator, more than 20 avant-garde businesses will embark on its climate-focused programme.
This initiative, now in its third iteration, has been crafted to address the pressing challenges faced by these climatetech ventures, ranging from securing funds and attracting multinational clients to garnering expert advisory and influencing climate policies.
Among the startups chosen is Ottan, renowned for transforming food waste into construction materials like frosted glass. There's also Seafields Solution, aiming to extract billions of tonnes of carbon from the atmosphere annually using seaweed cultivation in the Atlantic, and Arda Biomaterials, pioneers in crafting 'new grain' leather from brewery remnants. Insightful mentorship will be provided by giants such as Google X, HSBC, and Oxford University, contributing to the growth and success of these ventures, alongside past programme stars like Olio, Satellite Vu and Earthshot Prize nominee ENSO.
Carolyn Dawson, CEO of Founders Forum Group, emphasized the pivotal role of emerging climatetech in achieving net zero by 2050
“More than 45% of the emission reductions needed to reach net zero by 2050 will come from the adoption of climate technologies that are still under development,” she said.
"Helping these amazing startups grow will deliver innovations with a dramatic impact on generations to come."
She also praised the up-and-coming technology ventures for their audacity in tackling climate issues from the ground up.
Leading the pack in climate innovation
In the climate tech arena, several companies are making waves, as celebrated by sister publication, Sustainability Magazine. These frontrunners are redefining the sector:
10. NuScale Power
9. H2 Green Steel
8. Sublime Systems
7. Climeworks AG
6. Commonwealth Fusion Systems
5. Orsted
4. ReNew
3. GEM Co. Ltd
2. Google
1. BYD
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