Welcome to Climate Tech Pulse, your daily dose of market intelligence helping fuel the fight against climate change. From groundbreaking investments to cutting-edge research, we’re bringing you the latest in climate tech that’s shaping our future.
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Today’s newsletter:
🔝Today’s Top Story: CarbonRun has secured US$25.4 million in funding for these projects, with backing from Frontier, a U.S.-based carbon-removal fund.
📊 Today’s Data Point: Global Power Sector Needs $115 Trillion to Achieve 2050 Net Zero Goal.
🌳 Climate Insider Intelligence: Securing North American Energy – Navigating Tensions Between Climate Policy and Energy Trade.
CarbonRun Secures $25.4M for Innovative Limestone Projects to Cut Greenhouse Gas Emissions in Canadian and Scandinavian Rivers
CarbonRun’s Groundbreaking Carbon-Removal Strategy
CarbonRun, a Halifax-based company, has launched its first project aimed at reducing greenhouse gas emissions by adding crushed limestone to rivers. The technique, currently in use at the West River in Pictou County, N.S., increases the river’s capacity to absorb carbon dioxide, which then combines with the limestone and is transported to the ocean, where the captured carbon remains locked for thousands of years. The company expects this approach to play a significant role in global carbon removal.
Major Funding Secured Through Frontier
CarbonRun has secured US$25.4 million in funding for these projects, with backing from Frontier, a U.S.-based carbon-removal fund. Thirteen companies are lined up to purchase carbon credits generated by the liming efforts, which are expected to prevent 55,000 tonnes of carbon dioxide from entering the atmosphere by 2029. CarbonRun is set to receive payments once independent verifiers confirm the efficacy of the method.
Environmental and Community Impacts
In addition to reducing carbon emissions, CarbonRun’s limestone projects help combat the effects of acid rain and improve Atlantic salmon habitats. The firm is collaborating with local communities and First Nations before expanding its operations to other rivers. Sensors along the river will monitor water composition to ensure the effectiveness of the project, which aims to attract further investment from companies seeking to meet emissions reduction targets. Read More
Market Movers
- Calgary-based Ayrton Energy has secured $6.8 million in seed financing to advance its liquid organic hydrogen carrier (LOHC) technology, which addresses key challenges in hydrogen storage and transportation—critical for the global transition to clean energy—positioning the company to capitalize on a rapidly growing market projected to reach $1.4 trillion annually and contribute significantly to reducing CO2 emissions by 2050. Read More
- Amsterdam-based Move Energy Fund secured €10M from Invest-NL, boosting its effort to raise €100M to decarbonize power, transport, and buildings—key sectors responsible for 55% of global CO2 emissions—while focusing on early-stage hardware and software ventures that drive the energy transition, with plans to reach a €150M hard cap by Q1 2025. Read More
- Rivian has unveiled the first $10 million in grants from the Rivian Foundation, three years after pledging 1% of its equity to environmental causes, with 41 mostly U.S.-based grantees, despite the foundation’s equity value shrinking from $643 million to $98 million due to Rivian’s stock price decline since its IPO. Read More
- Israeli startup GEOX, which uses AI to assess real estate risk from climate-related disasters, raised $19 million in a Series A round led by Flashpoint Venture Capital, bringing its total funding to $23 million and positioning it to further develop its climate risk analysis platform. Read More
Tech Spotlight
Decarbonization of Buildings with Siemens’ Decarbonization Business Optimizer (DBO™)
Source: Siemens Financial Services
Siemens Financial Services has launched the Decarbonization Business Optimizer (DBO™), a cloud-based tool designed to simplify the complex process of decarbonizing buildings and managing the finances associated with reaching net-zero emissions. This free web tool reduces the knowledge barrier and enables companies to identify more efficient strategies for decarbonizing their facilities, leveraging data from agencies like the U.S. Department of Energy (DOE), Environmental Protection Agency (EPA), and the National Renewable Energy Laboratory (NREL).
Commercial Viability
Performance Metrics:
The DBO addresses a significant challenge faced by many businesses: reporting their carbon footprint without knowing where to start. It helps companies of all sizes generate tailored decarbonization scenarios by using data such as facility size, location, and energy usage. This approach allows companies to make informed decisions based on accurate carbon footprint estimates, rather than relying on generalized national averages.
Cost-Effectiveness:
The DBO provides cost-effective decarbonization strategies by incorporating energy cost and carbon footprint data specific to the facility’s geographic region. Customized options for technology adoption, including solar panels, thermal energy storage, and combined heat and power (CHP), are offered, alongside financial metrics such as the return on investment (ROI).
Technical Viability
Innovative Goals:
The DBO is built using advanced cloud technologies, leveraging Amazon Web Services (AWS) serverless architecture, which enhances its efficiency and reduces the tool’s carbon footprint. By working on demand rather than continuously, the platform’s infrastructure is optimized for sustainability, reducing energy consumption by up to 99% compared to traditional on-premises solutions.
Data Integration:
To ensure the accuracy of decarbonization models, the DBO integrates datasets from the Amazon Sustainability Data Initiative (ASDI) alongside DOE and NREL tools like ComStock™ and REopt®. This ensures reliable modeling of thermal properties, energy use, and environmental factors, making it a practical tool for organizations in diverse sectors, from healthcare to manufacturing.
Environmental Viability
Sustainable Energy Development:
The DBO promotes the adoption of renewable energy and storage technologies by helping companies evaluate options like solar power, battery storage, and CHP systems. The tool models various decarbonization scenarios, making it easier to align corporate actions with sustainability goals, including resilience to grid outages and site-specific emissions reduction strategies.
Climate Alignment:
The tool’s integration of site-specific energy profiles enables businesses to make data-driven decisions, effectively reducing emissions in alignment with their sustainability goals. This comprehensive approach enhances the environmental sustainability of facilities, contributing to larger efforts in climate mitigation.
Scaling Potential
Commercialization Pathways:
By providing companies with a straightforward tool to calculate and optimize their decarbonization strategy, the DBO accelerates the adoption of cleaner technologies. It empowers businesses, particularly those in the supply chain, to begin their journey toward sustainability without needing deep technical expertise, lowering barriers to entry in the decarbonization process.
Investment and Growth:
With the DBO offering a clear view of the financial benefits of decarbonization, including detailed ROI calculations, it encourages businesses to invest in sustainable infrastructure. It also opens pathways for collaboration with Siemens Smart Infrastructure and other Siemens services to help companies act on the insights provided by the tool.
Long-Term Implications
Transformative Impact on Building Decarbonization:
The DBO positions itself as a critical tool for businesses aiming to decarbonize their facilities. Its combination of reliable data, technology options, and financial forecasting transforms how companies approach sustainability, making decarbonization a more achievable goal.
Future Prospects:
As more companies adopt the DBO and act on its insights, the potential for a significant reduction in carbon emissions from commercial and industrial buildings grows. Siemens’ ongoing support through its Smart Infrastructure division can help these organizations transition to greener operations, contributing to global net-zero targets. Read More
Policy Pulse
This section includes global updates on climate change policy, governance and regulation.
International businesses back new initiative to boost carbon-free power across the world.
Major international corporations, including Google and AstraZeneca, are partnering with the Climate Group’s 24/7 Carbon-Free Coalition to drive the adoption of round-the-clock carbon-free electricity by matching their power usage to renewable energy from local grids every hour, aiming to demonstrate the feasibility and benefits of this approach before a broader rollout in 2025.
Why it Matters: This matters because it represents a critical step toward decarbonizing global energy systems by ensuring that companies continuously use renewable energy, which can significantly reduce their carbon footprints and drive systemic change in electricity grids. Read More
CDP and the Net-Zero Data Public Utility expand partnership to power the net-zero transition.
The Net-Zero Data Public Utility (NZDPU) and CDP are expanding their partnership to publicly share core climate transition-related data from over 10,000 companies, making essential environmental data more accessible, streamlining global reporting, and supporting transparent, standardized corporate climate action.
Why it Matters: This matters because making critical climate data from thousands of companies publicly accessible promotes transparency, supports informed decision-making, and accelerates global efforts toward achieving net-zero emissions. Read More
9 European Union nations pledge to turn the Mediterranean into a green energy hub.
Officials from nine southern EU nations are collaborating to turn the Mediterranean region into a renewable energy hub by developing cross-border offshore wind, solar, and wave energy projects, leveraging shared resources and removing regulatory barriers to attract investment and combat climate change.
Why it Matters: This matters because it harnesses the Mediterranean’s abundant renewable energy potential, accelerates cross-border collaboration, and supports Europe’s efforts to combat climate change and reduce dependence on fossil fuels. Read More
Today’s Climate Data Point
Global Power Sector Needs $115 Trillion to Achieve 2050 Net Zero Goal
Source: Accenture Research (2024)
A recent report by Accenture highlights the monumental investment required to achieve net zero emissions by 2050 in the global power sector. The study underscores the urgent financial commitments needed, while also addressing the potential burden on consumers and the wider energy market.
Key Findings:
- Investment Breakdown: To reach net zero by 2050, the global power sector will require a total of $115 trillion. This includes:
- $53 trillion for clean power generation
- $42 trillion for transmission and distribution
- $20 trillion for interim fossil fuels and alternative technologies like carbon capture.
- Cost Burden: Energy providers cannot shoulder the entire cost of these investments. Passing the cost to consumers could see household electricity bills more than double, with spending rising from 6% to 14% of household income by 2050.
- Consumer Willingness: Of the 16,800 respondents across 18 countries:
- 69% believe consumers have a role in the net-zero transition.
- Only 46%—mainly younger, higher-income consumers—are willing to bear some of the increased costs.
- In Singapore, 36% of respondents are unwilling or unable to pay a premium for clean energy investments, citing energy affordability as the primary reason, despite 81% expressing interest in the clean energy transition.
Implications:
- Affordability Challenge: The inability of consumers to absorb these costs without significant impacts on household budgets could delay net zero achievement by 35 years if alternative funding methods are not found.
- Global vs. Local Sentiments: The disparity in consumer willingness to pay for the energy transition, particularly in regions like Singapore, highlights the need for tailored approaches to clean energy financing that consider local economic conditions and consumer preferences.
Recommendations:
- Business Strategy Recalibration: Accenture suggests strategies such as re-centering business models around energy consumers, reinventing cost and productivity methods, and exploring new revenue opportunities to mitigate financial pressures.
Conclusion:
Achieving net zero by 2050 requires unprecedented investments and a careful balancing act between maintaining energy affordability and advancing the clean energy transition. Without innovative solutions and shared responsibility among stakeholders, the path to net zero could face significant delays. Read More
In Other News
This section covers notable news highlights in climate tech.
- UAE-based climate tech startup Coral secured $3 million in seed funding to enhance its AI-driven carbon emission management platform, offering businesses streamlined solutions for carbon tracking, offsetting, and sustainability integration. Read More
- Ghanaian clean energy company Kofa Technologies secured £6.15 million to expand its battery-swapping network, aiming to boost EV adoption and clean energy access with support from PASH Global, Shell Foundation, and the UK Government. Read More
Climate Insider Intelligence: Securing North American Energy – Navigating Tensions Between Climate Policy and Energy Trade
Image Credit: Global Trade Magazine
As the U.S.-Canada energy alliance faces unprecedented challenges from ambitious climate policies, the stakes for regional security and economic stability have never been higher. Discover how proposed emissions caps could disrupt the vital energy trade that fuels both nations and threaten North America’s role in the global energy landscape. In this insightful article, we explore the balance between aggressive climate action and the urgent need for energy security, urging policymakers to harmonize regulations and foster innovative clean energy solutions. Don’t miss this critical analysis of the future of energy in North America! Read More
