Climate Tech Highlights #17

Hello, there!

This week, I have a question for you: do you work in or know an organization seeking bioeconomy solutions? If so, this is your lucky day! Join the Business Rounds on the Bioeconomy, which will take place on August 1st and 2nd and will promote impactful encounters between solution seekers and providers.

The Rounds will happen both on-site in Belém, Pará - Brazil, and online. Subscribe here (unfortunately the form is only available in Portuguese).

Now that I've made this very special invitation, let's get to last week's highlights on the climate tech landscape!

Around the globe 🌎

• Europe’s First Cultivated Meat Approval for Pet Food: UK startup Meatly has become the first company in the world to secure regulatory approval to sell pet food made from cultivated meat. Meatly’s ‘chicken’ product, produced by replicated animal cells and sold to the pet food manufacturers it partners with, is planned to be on UK shelves by the end of 2024.

• Digestiva’s Enzyme Technology Advances: Digestiva, a Davis, CA-based food biotech company, closed its Series A equity financing round, raising $18.4 million. The company’s enzyme technology platform focuses on the discovery and development of proprietary protease enzymes designed to address critical challenges in protein nutrition, functionality, and overall health. Digestiva’s proteases enhance protein bioavailability, allowing people and animals to maximize nutritional benefits from existing diets without increasing protein consumption. These science-driven solutions have the potential to address global malnutrition and promote sustainable nutrition by improving health outcomes and reducing environmental impact.

• European Climate Tech Funding Surge: European climate tech received the most funding out of all tech sectors in the first half of 2024. The industry brought in €7.7 billion in equity and almost double that in debt — €13.2 billion — according to Sifted’s H1 2024 report. The year started off strong, with Northvolt and H2 Green Steel raising $5 billion and €4 billion in debt respectively, cementing the infrastructure category as Europe’s best-funded climate segment and underscoring the importance of debt to the sector. The first half of the year also marked the emergence of new debt vehicles into the sector, as banks got increasingly comfortable with backing climate technologies.

A glance at Brazil 🇧🇷

• Meu Pescado’s Aquaculture Management Services Expansion: Meu Pescado, a Brazilian startup offering aquaculture management services, raised $420,000 in an investment round led by Aimorés Investimentos and Japan’s Incubate Fund, with participation from angel investors. Founded in 2023, Meu Pescado provides operational control for fish farming tanks, collecting data on feeding, health, growth, and water quality. This is monitored through an offline app, built to be accessible in rural areas.

• Brasília Leads in Solar Panel Installations: Brasília is at the forefront of solar panel installations in Brazil, reflecting significant investments by the Government of the Federal District (GDF) and a commitment to sustainability. The capital registered 413 megawatts (MW) of installed capacity, according to data from Aneel and Absolar, consolidating its position as a national reference in the sector.

Don't miss out! 👀

• The Fusion Industry Association (FIA) released its 2024 Annual Global Fusion Industry Report.

• The world revolves around climate change: New study finds that polar ice cap melt lengthens the Earth’s rotation by milliseconds each day.

• Twilio.org Climate Tech Prize: Are you using technology to boost climate resilience in frontline communities? Apply now for the Twilio.org Climate Tech Prize! The Twilio.org Impact Fund is investing $1 million in five entrepreneurs or organizations creating climate technology solutions that tackle immediate and long-term challenges, including migration and displacement. Don't miss this opportunity. Deadline to apply: August 14th.

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See you next Tuesday!