€15 Million Boost for Matteco, Insights from the Emissions Gap Report 2024 & More

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.

Don’t miss out on tomorrow’s climate solutions – subscribe now to stay ahead of the curve! https://lnkd.in/dwr7B9XJ

Today’s newsletter:

🔝Today’s Top Story: Paterna-based advanced materials company Matteco has secured €15 million in Series A funding from prominent family offices, including Grupo ASV (Spain), Napali (Chile), and Zubi (Spain). 

🌳 Climate Insider Intelligence: The Emissions Gap Report 2024 – a Deep Dive.

Matteco Secures €15M to Boost Green Hydrogen Production with Advanced Catalyst and Electrode Factory in Spain

Image Credit: Matteco

Series A Funding and Strategic Investors  

Paterna-based advanced materials company Matteco has secured €15 million in Series A funding from prominent family offices, including Grupo ASV (Spain), Napali (Chile), and Zubi (Spain). This investment will fuel Matteco’s mission to drive decarbonization and enhance renewable hydrogen’s competitiveness in the global market.

Factory Expansion and Production Capacity  

The funds will enable Matteco to establish a state-of-the-art catalyst and electrode manufacturing facility in Paterna, Valencia, with a production capacity of up to 1 gigawatt (GW) of electrodes per year. These products will support the company’s international client base across Europe, North America, and Asia, meeting the growing demand for high-performance catalysts and electrodes used with alkaline and AEM electrolysers.

Innovations in Green Hydrogen Technology  

As a spin-off from the University of Valencia and part of Zubi Labs, Matteco specializes in materials technology aimed at advancing green hydrogen production. The company’s patented, platinum-free materials reduce energy consumption and operational costs, helping green hydrogen compete more effectively with fossil fuels by enhancing electrolysers’ efficiency and durability. Read More

Market Movers

  • Dunia has raised €10.6 million to accelerate material discovery for green hydrogen, ammonia, and CO2 conversion, leveraging AI-driven self-driving labs that aim to reduce conventional research timelines from decades to under three years, addressing critical challenges in the energy transition. Read More
  • Adden Energy has secured $15M in Series A funding, led by At One Ventures, to scale its lithium-metal solid-state battery technology, which aims to improve EV adoption by enhancing battery safety, lifespan, and charging speed. Read More
  • SSE Plc and its transmission unit have secured £3 billion in sustainability-linked credit facilities to advance their five-year Net Zero Acceleration Programme, aiming to invest £20 billion in renewable networks and flexibility initiatives critical to the UK’s 2030 zero-carbon grid target. Read More
  • Planetary Technologies has raised $11.4 million USD in Series A funding, led by Evok Innovations, to advance its ocean alkalization technology aimed at combating climate change, bringing its total funding to over $22 million CAD. Read More

Tech Spotlight  

Toyota’s Portable Hydrogen Cartridges: Pioneering Clean Energy on the Go

Image Credit: Toyota  

Source: Japan Mobility Bizweek 2024

Toyota recently unveiled its portable hydrogen cartridges at Japan Mobility Bizweek 2024, marking a significant step forward in clean energy innovation. The compact, swappable cartridges provide a flexible, sustainable power alternative, potentially reducing dependence on traditional EV charging infrastructure. Originally developed by Toyota’s Woven division, these cartridges are designed to meet the needs of modern, on-the-go consumers.

Commercial Viability  

Market Impact:  

Toyota’s hydrogen cartridges could reshape energy access by enabling swappable hydrogen fuel systems for various uses, from vehicles to home appliances. With the flexibility to power motorcycles, household devices, and even stoves, these cartridges broaden the market for hydrogen technology beyond automotive applications. By addressing challenges like hydrogen refueling infrastructure costs, Toyota’s portable system could attract diverse consumer segments and drive wider adoption of hydrogen-powered solutions.

Technical Viability  

Technology Challenges:  

Developing a lightweight, durable, and universally swappable hydrogen fuel cartridge requires overcoming challenges in material durability, energy density, and refueling logistics. Toyota’s design, inspired by AA batteries, leverages advancements in material science to maintain hydrogen stability and safety during transportation. Yet, further innovations in fuel management and storage are essential for Toyota to achieve the commercial reliability needed for widespread, multi-sector usage.

Environmental Viability  

Sustainability Alignment:  

The hydrogen cartridges align with global net-zero goals by enabling hydrogen as a low-emission energy source. Toyota envisions renewable hydrogen production and reuse cycles, which minimize waste and emissions. The cartridges’ ability to power various applications while emitting only water aligns with sustainability goals across transportation, residential, and industrial sectors, presenting a scalable solution to reduce carbon footprints.

Scaling Potential  

Investment Strategies:  

Toyota’s partnerships with Rinnai Corporation and other collaborators enhance the scaling potential of its hydrogen cartridge concept. By working with partners, Toyota can refine production and distribution logistics to make hydrogen a feasible alternative for everyday energy needs. As demand for decentralized, low-emission power sources grows, Toyota’s cartridge system is positioned to meet energy demands across both developed and emerging markets.

Long-Term Implications  

Redefining Portable Energy:  

Toyota’s portable hydrogen cartridges signal a new era of portable, emission-free energy. The versatility of the cartridges could revolutionize access to clean energy for off-grid locations, emergency power, and everyday consumer products, paving the way for a hydrogen-based infrastructure. By setting this precedent, Toyota not only strengthens its leadership in hydrogen technology but also contributes to a broader vision of sustainable energy access across sectors and geographies. Read More

Policy Pulse

This section includes global updates on climate change policy, governance and regulation.

Australia and the UK make pact to partner on the 2050 net-zero climate goal.

Australia and the U.K. have strengthened their partnership with a dual-focus initiative, pledging to collaborate on renewable energy technologies like green hydrogen and offshore wind to support a shared 2050 net-zero target, while also advancing their defense alliance under the AUKUS treaty with commitments to joint nuclear submarine development.

Why it Matters: This partnership matters because it aligns two major economies in accelerating renewable energy innovation and defense collaboration, setting a precedent for integrated climate action and security efforts on the path to net zero. Read More

Climate Insider Intelligence: The Emissions Gap Report 2024: a Deep Dive

Image Credit: Emissions Gap Report 2024

Climate Insider’s latest deep dive into the Emissions Gap Report 2024. This report from the United Nations Environment Programme (UNEP) highlights the growing gap between climate commitments and the urgent action required to meet global climate goals. As nations prepare to submit their updated Nationally Determined Contributions (NDCs) ahead of COP30, it stresses the importance of ambitious targets supported by practical policies and sustainable technology deployment. Read More

You need to be logged in to view this information.

Share this article:

Keep track of the Climate Technology market

Keep track of the Climate Technology market

Sign up for the Climate Insider newsletter and be the first to learn about key industry news, exclusive events and climate tech data.