To avoid the most catastrophic effects of climate change, the global temperature increase of the Earth needs to be limited to 1.5°C above pre-industrial levels. Humanity’s fight against global warming will require a holistic approach to reach net-zero emissions by 2050. From electric vehicles to renewable energy, technology is playing an increasingly important role.
The UK government has made its goals of net-zero carbon emissions clear, but the innovators of climate technology are developing solutions to help give the world a fighting chance to make these goals achievable.
Investors have recognised this urgency and have poured billions into climate tech startups. In Europe, investment into climate tech startups soared tenfold from $1.1bn (£840m) in 2017 to $11bn (£8.4bn) in 2021, making it the fastest-growing vertical on the continent.
In honour of Earth Day, the annual celebration to demonstrate support for environmental protection, UKTN is highlighting five UK-based companies that are developing climate tech solutions to support a greener future.
Climate X has created a platform to monitor and detect extreme weather events and the risks they pose to physical assets. The company has projected that climate change-related risks could cost the global economy up to $23tn by 2050.
Climate X recently had a seed funding round, raising £4.1m last month.
Arrival is an electric vehicle (EV) manufacturer specialising in commercial vehicles. Arrival has partnered with ridesharing service Uber to provide an EV taxi service. The company began trials of an electric bus in 2021.
While based in London, the company listed on the Nasdaq exchange when it went public in 2021, debuting at a staggering market capitalisation of $13bn.
Better Origin is providing technology to manufacture a unique form of animal feed. It’s aiming to create a sustainable model for animal food and solve the problem of long-distance transportation of feed.
Better Origin’s AI-powered insect farm takes food waste from supermarkets and converts it into feed for livestock. By placing its tech on-site at farms, there’s no need to ship food in vehicles emitting carbon.
The company closed a £12m Series A funding round at the beginning of April this year.
Octopus Energy provides renewable green energy solutions for homes and businesses. With a product range including heat pumps, EV charging stations and solar panels.
It has become one of the largest renewable energy providers in the country, reporting revenue of £1.9bn in the 2020/21 financial year.
Looking to reduce food waste, Olio is a free app that allows people and local businesses to list unwanted food items which can be claimed by others in the local area, instead of being binned.
Last year, Olio closed a Series B funding round of £33m
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