Investing In Carbon-Cutting Technology Reaches $4.2 Billion
In 2021, investment in venture capital reached unprecedented levels in many industries, however this trend was not reflected in carbon mitigation. PitchBook reported that $4.2 billion was injected into startups focusing on reducing CO2 emissions in 2022, up from $3.6 billion in 2021 with a simultaneous increase in deals from 167 to 204. Svante, a Canada-based carbon capture startup, raised the largest amount of funding in the year with a $318 million Series E round led by Chevron Technology Ventures in December. The company intends to use the money to construct a commercial filter production facility in Vancouver. PitchBook has attributed the continued investment in the space in 2023 to new pledges to cut down carbon emissions, along with the Inflation Reduction Act.
It is an event that will involve the reading of a significant book, providing the audience with an opportunity to ponder its contents.
The air quality in California has been significantly degraded due to high levels of air pollution
Recent research has uncovered a stronger association between health risks and air pollution, and there are approaches that specialists recommend both people and nations apply to lessen the amount of air pollution.
This week, the U.K. government released figures indicating a 124% rise in air pollution from wood burning stoves from 2011 to 2021. Furthermore, air pollution from fuel burning industrial sites saw an even more dramatic increase of 379% during this same period.
The Ocean Cleanup Project recently announced that due to a donation of $25 million, they are now able to launch System 003, their third generation of floating barriers, with the intention to target the Great Pacific Garbage Patch located between Hawaii and California. This new iteration of the barrier is said to have three times the plastic collecting power of the previous versions.
Recycling Carbon: Last week, LanzaTech, an Illinois-based business using gas fermentation technology to transform waste carbon into fuels, fabrics and packaging, began trading on the NASDAQ after a SPAC merger. The company went public.
Transport Tech: A London-based company called VivaCity, that utilizes sensors and AI to monitor traffic flow, has procured over $8 million to broaden their operations into North America. Realwire.com reported the raise.
David Malpass, the President of the World Bank, announced his plan to leave his post in June, prior to the end of his five-year term. Consequently, the Biden Administration will have the responsibility to pick a successor for the international development organization. This news broke five months after the ex-President Trump's appointee created a stir through remarks in regards to the use of fossil fuels and global warming.
Kathryn Huff is a millennial scientist who is spearheading the Biden Administration's mission to revive nuclear power. Inside Climate News reported on her work with this clean energy source.
This report provides an update on the progress of green transportation. It looks at the current development of eco-friendly travel solutions that are being implemented. It also examines some of the potential future applications for green transportation in the years to come. The aim is to reduce the environmental impact of transportation and to make it more sustainable
Reaching the goal of having more people buy electric cars in the US is a major challenge, and it involves building more public chargers around the nation, particularly those with the capability to quickly recharge a car. Until now, Tesla had an extensive system of chargers only used by its customers. However, the company announced it will be taking advantage of the Biden Administration's subsidies by making 7,500 of its dedicated chargers accessible to drivers of all electric vehicles by 2024.
On February 13, 2023, Bill Ford, the Executive Chairman of Ford Motor Company, made public a $3.5 billion initiative to construct a lithium iron phosphate battery plant located in Marshall, Michigan.
The Ford Motor Company is a well-known automaker. They have been around for quite some time and have built a strong reputation in the automobile industry. They have produced a wide range of cars, trucks, and SUVs, and continue to produce high-quality vehicles.
Ford has seen a great start to its electric car models, the Mustang Mach-E crossover and F-150 Lightning pickup, but the costly lithium ion batteries they use is a downside. This week, the company announced the building of a plant in Michigan with the intention of producing lithium iron phosphate batteries. These are more affordable and are less likely to overheat and ignite. The LFP batteries store less energy, but Ford believes that their thermal reliability will make up for this by enabling a more efficient packaging.