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Climate Insider Weekly Funding Flows

Last week remained prosperous for climate tech funding for startups globally. Key sectors that secured funding include energy transition, decarbonization, sustainable food value chains, the circular economy, and more. Highlights include Minister Jonathan Wilkinson announcing $11 million for Canadian energy technology projects, Seaya closing a €300 million climate-tech fund targeting impact-driven growth companies, and Group14 Technologies securing a $300 million deal to supply its silicon anode product for enhanced battery performance. Additionally, the UAE launched a $30 billion climate finance fund, and Miami’s ‘climate tech hub’ received $19.5 million in federal funds for coastal reinforcement. Here’s Climate Insider’s weekly report on funding:

  • Minister Jonathan Wilkinson has announced $11 million in funding for Canadian energy technology projects, including $2.5 million for SMR research and $8.5 million for clean hydrogen innovation. Read More
  • Seaya closed Seaya Andromeda, Southern Europe’s first Article 9 climate-tech fund, at €300 million. The fund targets impact-driven growth companies in energy transition, decarbonization, sustainable food value chains, and the circular economy. Read More
  • Polestar Capital successfully closed its Circular Debt Fund at €240 million, with an additional €43 million from the European Investment Fund (EIF), Invest-NL, Realdania, and Oost NL. Read More
  • Tall Grass Ventures (TGV) announced the successful close of its inaugural fund, raising $32 million due to strong investor interest. The fund attracted a diverse group of investors, including Manitoba First Fund, FCC / FAC, and various stakeholders from the agriculture and financial sectors, highlighting broad support for agricultural innovation and sustainability. Read More
  • Group14 Technologies, led by Rick (Eric) Luebbe, has secured a $300 million deal with German battery cell company CustomCells to supply its silicon anode product, SCC55, which will be used to enhance the performance of CustomCells’ battery cells for electric vehicles, aviation, and e-mobility. Read More
  • Libattion, a Zurich-based company specialising in upcycled EV battery technology for stationary energy storage, secured €14 million in funding led by A&G Energy Transition Tech Fund, with contributions from Teknia, HCapital New Ideas II, and EBL. Read More
  • Carbon Equity, an Amsterdam-based climate tech investment platform, closed its third fund at €60 million within four months, increasing its assets under management by 80% in the past year. Read More
  • Climate tech startup Aether Fuels announced that it has raised $34 million in a Series A financing round, with proceeds aimed at accelerating the scale-up of the company’s sustainable fuel technology for the aviation and ocean shipping industries. AP Ventures led the round, which also includes Chevron Technology Ventures, CDP Venture Capital and Zeon Ventures. Read More
  • A $30 billion fund has been launched by the United Arab Emirates with the declared goal of funnelling billions of dollars into climate finance. Read More
  • Biomaterials company UNCAGED Innovations announced that it has raised $5.6 million in a Seed investment round, with proceeds aimed at supporting the company’s commercial launch of its grain-based sustainable leather and allow it to expand its team. The round was co-led by Green Circle Foodtech Ventures and Fall Line Capital, with participation from Ponderosa Ventures, Golden Seeds and existing investor InMotion Ventures, the investment arm of JLR (Jaguar Land Rover). Read More
  • Global asset manager Invesco announced the launch of the Invesco MSCI Global Climate 500 ETF (KLMT), a new exchange-traded fund offering exposure to companies that meet environmental and climate criteria and work towards reducing greenhouse gas emissions. The new ETF, which trades on the NYSE, is being launched with a $1.6 billion investment by Finnish pension insurer Varma. Read More
  • Miami’s ‘climate tech hub’ receives $19.5 million from federal funds, with a focus on reinforcing the coast. South Florida, which established the nation’s first climate tech hub last year, is now getting the funds to operate it — $19.5 million, as announced by the Biden administration. Read More
  • The European Union recently approved Swedish state aid amounting to 3 billion euros (SEK 36 billion) to support the capture and storage of biogenic carbon dioxide (CCS) from the combustion or processing of biomass. Read More
  • Adani Group is reportedly planning a $9 billion investment in manufacturing and transportation infrastructure for the first phase of its green hydrogen venture. This move aligns with India’s commitment to achieving net-zero emissions by 2070. Read More
  • The Luxembourg-based startup Ibisa, renowned for its innovative climate insurance solutions, has recently raised $3 million to advance its growth initiatives across Africa and Asia. This funding round was led by the Acumen Resilient Agriculture Fund (Araf) and Equator, with additional support from Asian Development Bank Ventures (ADBV) and continued backing from previous investors like Ankur Capital. Read More
  • The Regional Municipality of York is receiving a federal investment of $76 million to help build an electric bus fleet and achieve net zero emissions by 2050. Read More
  • Polystyvert has secured $16 million to revolutionize polystyrene recycling, enabling the global deployment of innovative technology for sustainable polystyrene production from plastic waste. Infinity Recycling led the round, followed by SWEN Blue Ocean, and Earth Foundry, an existing shareholder. Read More
  • KC8 Capture Technologies, a Melbourne startup developing carbon capture technology for hard-to-abate industries has raised $10 million. The startup received backing from local energy giant Woodside and the venture capital arm of Mexican cement producer Cemex, among others. Read More