Why Climate Startups Will Takeover The World

Climate change is a huge problem. But it’s also a massive opportunity for some people, particularly climate startups.

The latest United Nations (UN) climate report predicts “unprecedented heatwaves, terrifying storms, widespread water shortages and the extinction of a million species of plants and animals.” In a video message for International Mother Earth Day on April 22, 2022, UN Secretary-General António Guterres spoke about the Earth’s current triple crisis: (1) climate disruption, (2) nature and biodiversity loss, and (3) pollution and waste.

So how can we survive this? Well, with some help from the climate startups of tomorrow—that’s how. The world is already seeing a boom in these climate tech unicorns, focusing on everything from renewable energy sources to green transportation options. But they’re not just trying to save the planet; they’re also trying to protect people’s health and livelihoods.

Climate change startups are a great place to get in on the ground floor of what could be one of the most relevant technological trends of the next decade.

Climate startups to Lookout for in 2022

Let’s look at a few of our favorite climate change startup ideas, which also made it to CB Insight’s top 10 lists in Quarter 2. 

A $750 million investment in Intersect Power was the biggest deal in climate startups in Q2. Intersect Power is a clean energy provider offering its clients cutting-edge, scalable low-carbon solutions in the retail and wholesale energy sectors.

They create and own some of the most incredible sustainable energy resources in the world, which they use to supply low-carbon fuels, power, and other goods to consumers in North America. They will use the money to eventually integrate the creation and storage of clean energy with the development of green hydrogen and direct air capture.

With a $535 million Series D funding, electric hypercar manufacturer Rimac Automobili is also making a mark on the top climate tech startups list. In recent years, governments and automakers have promoted electric vehicles as a crucial technology to reduce oil consumption and combat climate change worldwide. 

Funding for such technologies contributes significantly to ensuring that vehicle emissions will dramatically reduce once most of the world’s population has access to clean-energy-powered transportation options.

Also on the climate tech VC list of promising climate tech startups 2022 is UK-based newcleo. Newcleo, a clean and secure nuclear technology business, is developing an innovative generation of lead-cooled reactors. In the second quarter of 2022, they were able to secure $316 million in Series A capital.

According to a press release published by newcleo on June 19, 2022, the funds they were able to raise “will be instrumental to accelerate newcleo’s overall growth and its strategic expansion into manufacturing nuclear fuel for its new-generation reactors from existing waste produced by traditional reactors.”

Solar, photovoltaic, and off-grid energy tech on the rise

Included in the list of best climate startups is Chinese solar manufacturer Gokin Solar who raised $251 million in a Series A round. Gokin Solar concentrates on the R&D and production of large-size silicon wafers with a high photovoltaic conversion efficiency. The business is situated in Zhuhai, China, and was founded in 2019.

On the other hand, German solar and heat pump installer 1Komma5 raised $218 million in Series A capital for its line of energy technologies that support CO2-neutral housing. They provide photovoltaic systems for producing clean electricity, solar power storage units for storing as much electricity as possible, heat pumps for producing sustainable heat, and solutions for charging electric vehicles.

Kenyan off-grid energy supplier, Sun King, closed a $216 million Series D deal. For the 1.8 billion people who today lack access to reliable energy, Sun King develops, distributes, delivers, and funds solar home energy products. The company has already served 82 million people, primarily in Asia and Africa.

It goes without saying that climate change requires us to think outside the box and find solutions before it’s too late. Hopefully, the tech industry can keep offering ingenious solutions that will help us take better care of the planet we call home.