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Today’s Highlights:
🔝Top Story: Maki.vc Launches €100M Fund to Power Nordic Startups with ESG Focus.
💲Investment: EIP plans to invest €209 million in Eni’s renewables, and IFC commits €15 million to support tech startups in Central and Eastern Europe.
🔬 Innovation: Avina Clean Hydrogen plans a 4-ton daily green hydrogen facility, while a German team develops a process to recycle polystyrene waste into hydrogen and chemicals.
🔄 Integration: IntelliGrid partners with SOCAR on a $480 million AI-powered gas grid, tozero raises €11 million for battery recycling, and PT Vale Indonesia and GEM Co. plan a $1.4 billion nickel facility.
💡 Intelligence: Notable University-Led Sustainability Initiatives Driving Climate Action in 2024.
Today’s Top Story: Maki.vc Launches €100M Fund to Power Nordic Startups with ESG Focus
Image Credit: Maki.vc
Fund Introduction and Focus on ESG in Nordic Startups
Maki.vc, a Helsinki-based venture capital firm, has launched its third fund, a €100 million Article 8 “light green” fund aimed at advancing environmental, social, and governance (ESG) principles. This fund targets early-stage startups within the Nordics, focusing on those with strong environmental and societal objectives, thus aligning with Maki.vc’s mission of supporting impactful technology.
Noteworthy Investments in Emerging Tech
With its new fund, Maki.vc has already invested in three innovative companies: Distance Technologies (glasses-free mixed reality), QMill (quantum computing for industrial use), and Ever Cars (an EV marketplace). These companies showcase Maki.vc’s commitment to deep tech solutions with the potential for meaningful impact, each led by teams with notable industry experience.
Pioneering ESG-Driven Venture Capital in the Nordics
Maki.vc integrates ESG values across its portfolio, with 35% of its companies led by female founders, as highlighted in its 2023 Sustainability Report. The firm’s portfolio includes high-impact ventures like Spinnova and IQM, driving a new model for venture capital that aligns ethical growth with financial returns, while bolstering Nordic tech innovation in areas like sustainability, health tech, and quantum computing. Read More
Investment Highlights of the Day
- Amid challenging conditions, the French VC industry showed resilience in 2023, closing more funds than most European peers and raising $4.7 billion, with momentum continuing into 2024 through new funds supporting climate-focused and deeptech startups. Read More
- Energy Infrastructure Partners (EIP) will invest an additional €209 million to raise its stake in Eni’s renewable energy arm, Plenitude, to about 10%, pending regulatory approval. Read More
- IFC has committed up to €15 million in Cogito Fund II to support Series A+ tech startups across Central and Eastern Europe, aiming to fill the region’s late-stage funding gap and boost innovation in sectors like automation, fintech, and climate-tech. Read More
Innovation Highlights of the Day
- Avina Clean Hydrogen has unveiled plans for a green hydrogen facility near the Port of Long Beach to produce up to 4 metric tons daily, supporting California’s clean energy and heavy-duty transport decarbonization goals. Read More
- A German research team has developed an efficient electrochemical method to recycle polystyrene waste using a low-cost iron catalyst, producing hydrogen as a byproduct and yielding valuable chemical precursors, with the process potentially powered by solar energy. Read More
Integration Highlights of the Day
- At COP 29, IntelliGrid signed a 13-year, $480 million agreement with Azerbaijan’s state-owned SOCAR to implement a Smart Gas Grid Management System powered by AI, aiming to modernize Azerbaijan’s energy infrastructure. Read More
- German startup tozero has raised €11 million in seed funding to develop its lithium-ion battery recycling technology, enabling the construction of its first industrial plant and aiming to scale operations to process 30,000 tonnes of battery waste annually by 2026. Read More
- PT Vale Indonesia and China’s GEM Co., Ltd have signed a $1.4 billion agreement to build a nickel processing facility in Indonesia, aiming to produce 60,000 tons of Mixed Hydroxide Precipitate annually via HPAL technology, with significant allocations for R&D, ESG initiatives, and community development as part of Indonesia’s green economic strategy. Read More
Climate Insider Intelligence: Notable University-Led Sustainability Initiatives Driving Climate Action in 2024
From composting food waste to achieving carbon neutrality, universities across the globe are transforming campuses into hubs of climate innovation. These institutions aren’t just reducing their own environmental footprint—they’re modeling sustainable practices and inspiring future leaders in climate action. In this listicle, explore 15 groundbreaking initiatives from colleges and universities making a difference, like New England’s food waste partnership with Vanguard Renewables and Duke University’s carbon neutrality milestone. Discover how professors, administrators, and students alike are shaping sustainable futures on their campuses. Read More
