The hard facts about climate change continue to be sobering. According to the recent U.N. Intergovernmental Panel on Climate Change report, we have until 2030 to change emissions patterns in order to avoid an irreversible global warming event. The good news is that there is still time to change course if disruptive solutions are enacted. The ethos of ClimateTech aims to fast-track environmental solutions by also making them attractive opportunities for investors.
What is ClimateTech?
ClimateTech describes all new technologies or business models that have the goal of reducing greenhouse gas (GHG) emissions, which are the driving force of climate change.
ClimateTech is driven by disruptive innovations across multiple sectors, including alternative fuels, electric transportation, and renewable energy. Companies like Clean Energy Fuels and Form Energy are spearheading the movement towards a more sustainable future.
What is the difference between ClimateTech and CleanTech?
Those who may not be familiar with the term ClimateTech have heard of “clean technology.” CleanTech is a term coined in 2002 that describes “green and clean” technologies”, or technologies broadly considered environmentally friendly. Because of the term’s lack of focus, it became more of a buzzword for venture capitalists than a catalyst for a do-good revolution. ClimateTech, with its clear goal of reducing carbon emissions aligning with United Nations Net Zero Goals, promises to attract more investors with its actionable goalposts.
Read below for companies that put the goal of climate change reversal at the heart of everything they do.
1. Harnessing Decarbonization
How Clean Energy Fuels is reducing global oil dependence:
Steps towards a decarbonized world need to be taken today, not tomorrow. The mission of limiting energy dependence on carbon-emitting oil is the core value of Clean Energy Fuels, a company that converts the greenhouse gas methane into Renewable Natural Gas (RNG). This alternative fuel not only has a net negative carbon emissions rating, it also removes the necessity of environmentally-destructive oil procurement methods such as drilling and fracking.
2. Electrifying Public Transit
How Arrival is innovating how the world commutes:
The conversation around electric vehicles often focuses too much on the consumer, and not enough on reshaping public transit as we know it. Arrival is not only aiming to create affordable electric vehicles, but is partnering with Uber to create the optimally-designed electric rideshare vehicle, along with creating electric-powered buses and trucks.
3. Changing Energy Infrastructure
How Weavegrid is disrupting the electric vehicle industry:
A huge roadblock in enacting the use of electric vehicles on a wide scale is a lack of an accessible energy grid. Weavegrid aims to change that by using cloud-based software to identify where Electric Vehicle (EV) charging stations are located, and where crucial access gaps need to be filled. The software also aims to help enforce security and reliability standards across all energy sources.
4. Flying with Zero Emissions
How ZeroAvia is decarbonizing air travel:
While electric vehicles seem to be the poster child for cutting down carbon emissions, the unique environmental danger posed by traditional aircrafts is overlooked. According to ZeroAvia, “released at high altitudes, aviation emissions have 2–4x the impact of comparable ground source emissions.” That is why ZeroAvia aims to help airlines reach net zero emissions by 2050 with their hydrogen-electric powertrain technology.
5. Storing Sustainable Energy
How Form Energy is changing electricity generation:
With the goal of “reform[ing] the global electricity system to run on 100% low-cost renewable energy,” Form Energy is pioneering iron-air battery technology to solve the problem of cost-effective energy storage options. With an energy storage period of 100 hours, Form aims to compete with traditional power plants by storing renewable sources of energy such as solar and wind power.
TechUnited:NJ is partnering with PSEG to support growing ClimateTech businesses in New Jersey with the BetterPlanet Challenge, calling all New Jersey startups working on innovative carbon solutions. Apply here, and check out more about TechUnited below: