Climate Tech Highlights #15

Hello, there!

Greetings and welcome back to my weekly digest dedicated to the latest in climate technology.

As we reach our 15th edition, we continue to bring you the most significant updates from the ever-evolving landscape of sustainable innovation.

From breakthrough technologies to industry trends and impactful initiatives, I hope this newsletter remains your trusted source for staying informed and inspired.

Now, let's dive into this week's highlights!

Around the globe 🌎

• Zinc-based Energy Batteries: Long-duration energy storage is crucial for widespread adoption of renewable energy. Energy generated from wind and solar can be stored in batteries and used when renewables aren’t actively generating electricity (e.g., during calm winds). Canadian company e-Zinc has developed a zinc-based long-duration energy storage system specifically designed for storing energy from intermittent sources like solar and wind. Their solution provides up to 24 hours of storage, utilizing a water-based electrolyte that eliminates the risk of thermal runaway (i.e., catching fire), and employs readily available and recyclable materials. Recently, e-Zinc secured $42 million CAD ($31 million USD) in new funding to support upcoming field demonstration projects.

• Advances in Electric Aviation: Chinese battery manufacturer CATL achieved a significant milestone by successfully flying a 4-tonne battery-powered electric aircraft, signaling potential advancements in electric aviation. CATL’s electric aircraft project utilizes Condensed Battery technology, boasting an energy density of up to 500 Wh/kg per cell, twice that of current mainstream EV batteries. Collaborating with China's state-owned aircraft maker, Commercial Aircraft Corporation of China, CATL established a joint venture in July 2023. While initial tests involved 4-tonne aircraft, achieving commercial viability will depend on success with larger aircraft in the 8-tonne class and beyond.

• Challenges at Northvolt: Northvolt, Sweden’s well-funded gigafactory focused on climate technology, has encountered recent challenges. In June, BMW canceled a €2 billion battery cell order citing delays, casting uncertainty over plans for one of its Swedish factories. Reports from the Financial Times suggest that the company's board will convene in September, hinting at potential delays for factories in Germany and Canada as well.

A glance at Brazil 🇧🇷

• Brazilian Star: ComBio, a Brazilian company specializing in renewable thermal energy, has signed a contract with the International Finance Corporation (IFC) for a long-term Green Loan of R$ 120 million aimed at accelerating the company's expansion. This amount could potentially increase to up to R$ 450 million within the next 12 months, subject to mutual agreement. ComBio aims to prevent the emission of more than 800,000 tons of CO2 in 2024 in partnership with its customers.

• Tech waste management: In Brazil, out of the 800 million tons of organic waste generated annually, less than 2% is composted. Startup Carrot.eco aims to shift this paradigm by making composting more cost-effective than landfill disposal. According to the company, their solution integrates blockchain technology to generate carbon credits that compensate all participants in the process. Carrot.eco has developed a system to track organic waste from collection to composting, ensuring fair compensation for all participants in the chain.

Don't miss out! 👀

• Here are 10 venture-backed climate tech companies poised for potential IPOs. This list was curated using PitchBook’s VC Exit Predictor, which employs a machine learning model fed with historical and real-time data on private company exits.

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