Climate Tech Start-Ups
Written by: Jhanvi Mattil
Some Startups are making it a mission to earn profits while fighting climate change. Climate tech startups refer to for-profit, early-stage enterprises that work on innovative technology-based solutions to reduce carbon footprint or improve people's adaptation and resilience to climate change.
With climate change and its associated issues being among the greatest crises faced by nations around the world, the conversation around the matter has never been as charged with urgency as it is at present. This has made climate change one of the strongest drivers of innovation and entrepreneurship, as budding entrepreneurs see combating the climate challenge as one of the strongest ways to make an impact and establish a foothold in the marketplace.
The following are a few of the tech companies that have been developing a host of cutting-edge innovations to address environmental problems.
Aviation is responsible for a large generation of greenhouse gas emissions. Startups like the California-based Ampaire are developing aircraft that do not need fuel; as electric power promises a cleaner and more affordable future for air transportation. Aside from advances in aviation, hybrid-electric roads and water transportation are seen to flourish and lead the industries in the future.
The technology used to extract carbon from the air has existed for decades but has been prohibitively expensive. Companies including Climeworks and Global Thermostat think they can make it economically feasible. Carbon Engineering already has a pilot plant in British Columbia.
Scientists can engineer cells of living things to make them environmentally friendly. Pivot Bio alters microbes to create fertilizer. Unlike traditional fertilizers, it doesn't release nitrous oxide, which traps heat at a rate 300 times that of CO2. The startup has backing from Bill Gates, Richard Branson, and Jeff Bezos.
Hospitals, labs, and data centers have huge refrigeration needs. Phononic created a fridge that uses semiconductors to draw out heat. It doesn't need a compressor and uses up to 40% less power. It's already being used by companies including Cisco and Pepsi bottling.
An AI company, GreyParrot, offers waste analysis technology. Their computer vision-powered robotics systems are designed to identify, sort, and recover waste at scale. The startup has been backed by many leading accelerators and VC firms, including the Plug and Play Tech Center, Creative Destruction Lab, and Candy Ventures.