Abdul Azeez

Jehan Saldin

SPEEDA Edge - Top Picks - Energy & Climate Change

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Energy & Climate Change top picks: Hydrogen and long-term battery storage show potential

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        Startups developing solutions to combat climate change and transition to sustainable energy resources are gaining traction, with hydrogen and alternative energy solutions in the spotlight.
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        As climate-related legislation and consumer demands intensify, it is now essential for companies to manage their carbon footprints while assessing operational resilience to natural disasters.
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    This Quarterly Insight covers activities linked to seven SPEEDA Edge hubs: Alternative Energy; Carbon Management Software; Climate Risk Analytics; Carbon Capture, Utilization, &amp; Storage (CCUS); Energy Optimization and Management Software; Conservation Tech; and Hydrogen Economy. 
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In Q2 2023, next-gen climate and energy startups raised USD 1.9 billion, a decrease of 30.9% YoY but an increase of 29.8% QoQ. More than 70% of funding came from the Alternative Energy hub. The US Department of Energy awarded USD 46 million to eight fusion companies. Funding for Climate Risk Analytics increased significantly (+927.1% QoQ, +189.5% YoY). Product updates included satellite launches for climate monitoring, advancements in hydrogen electrolyser technology and fusion energy, and the launch of climate and sustainability disclosure tools. Partnerships formed in the fusion energy, sustainable aviation fuel, and hydrogen mobility sectors. M&A activity increased, with bp's acquisition of a stake in the Viking carbon capture and storage project being notable. Proposed US SEC regulations on climate disclosures are likely delayed.

Next-gen climate and energy (Q2 2023): Fusion and climate risk analytics promises

Climate Risk Analytics

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        Advancements in AI and data sciences have made it possible to identify more granular and hyperlocal patterns in weather data
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        The industry raised close to a billion dollars in the last three years, more than 70% of total industry funding
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        Agriculture and insurance industries have been early adopters
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EDGE Insights