Current Events Newsletter 📰#3
The third installment of the Tech4Earth current news and insights across green and emerging tech.
General Industry News 📝
DevvCon BKK (Nov 24)
DevvCon is the next Web3 and decentralised technology focused conference in the calendar which is fast approaching. Hosted in Bangkok, here’s a round up of some of the sustainability-focused events and related activities at and around DevvCon Bangkok 2024.
Blockchain for Good Alliance: Web3 Oscar Nov 11th BKK
Tech4Earth is proud to be an official community partner for the #BGAWeb3Oscar hosted by the BlockChain for Good Alliance at the Sustainable Innovation Summit in Bangkok 11th Nov 2024.
X: @Chainforgood
LinkedIn: Blockchain for Good Alliance (BGA)
Join the UN’s 17 Sustainable Development Goals Challenge for a chance to win from a $100K prize pool!
Register: http://bit.ly/3ZyDnrS
Learn more:https://blockchainforgood.xyz/oscar
Funding the Commons BKK: November 7-9, Bangkok, Thailand (District X)
What: Funding the Commons x Earth Commons Hackathon (Nov 6th -7th),
Funding the Commons conference (Nov 8th - 9th), focusing on public goods funding, environmental stewardship, regenerative agriculture, decentralized science, and Southeast Asian regional initiatives. Workshops will highlight digital public goods, Web3 funding, and privacy-preserving infrastructure
Info: HERE
Regen Hub at DevCon SEA 2024: Unconfirmed
What: This hub will focus on regenerative projects and sustainability, and you can find more details via the official their proposal.
Regen Hub Info: HERE.
Real World Assets (RWA) Hacker House: November 11-17, 2024
What: This event is focused on blockchain applications for real-world assets - including sustainability projects.
RWA Hacker House Info: HERE
2024 International Conference on Resource Sustainability (Nov 5-8)
What: Broader sustainability conference in Bangkok focused on environmental protection and resource management.
Other industry News 📝
EV Battery Recycling: Building a Circular Economy
Efforts to create a circular economy for EV battery recycling are advancing, backed by billions in government and private funding. Despite challenges like fluctuating material prices, initiatives are in place to ensure the U.S. handles end-of-life batteries efficiently.
Key Actions:
Sept 20, 2024: U.S. DOE announces $3 billion in grants for recyclers.
2022: Tax credits for EVs with U.S.-sourced or recycled batteries.
Sept 19, 2024: BMW partners with Redwood Materials.
Mid-2025: Ascend Elements to open a recycling facility in Kentucky.
Jan 2024: New Jersey law mandates battery recycling plans.
Will Great British Energy Lead the UK’s Green Revolution?
GBE, launched with £8.3 billion, is the Labour government’s plan to decarbonize the UK’s energy by 2030, focusing on offshore wind, hydrogen, and carbon capture. Fiscal limitations may affect its success.
Key Actions:
Oct 17, 2024: GBE launched with £8.3 billion investment.
Oct 30, 2024: Autumn budget to define GBE’s financial strategy.
Partnership with Crown Estate for offshore wind to power 20M homes.
Labour commits to supporting Scotland's oil and gas workers for a “just transition.”
Ontario’s Power Demand to Surge by 75% by 2050
Ontario’s electricity demand is projected to rise 75%, driven by AI-powered data centers and industrial needs. The province is expanding nuclear, gas, and renewable energy.
Key Actions:
By 2035: 16 data centers will account for 13% of new demand.
Industrial demand: Set to rise 58% by 2035.
Nuclear expansion plans, including extending the Pickering plant.
Energy efficiency programs to manage and conserve energy.
Notable raises👀🚀
(Curtesy of Deal room)
Develops plant-based protein microgels that mimic natural lubricants with applications in food and human health
Investors: Praetura Ventures, LIFTT, Northern Gritstone
Leeds, United Kingdom
Raised: £3.5m SEED, Oct 2024
Tomorrow is the "bank from and of tomorrow" - sustainable, transparent, mobile
Investors: Innovationsstarter Fonds, ETF Partners, Kopa Ventures, Abacon Capital
Hamburg, Germany
Raised: €5.0m EARLY VC, Oct 2024
Socialbnb is an online platform that connects travellers with social and ecological projects all over the world to create a new way of sustainable tourism where everyone benefits
Investors: Unknown
Cologne, Germany
Raised: €1.0m SEED, Oct 2024
Accelerating Machine Learning in a Low-Carbon world.
Investors: Plural
London, United Kingdom
Raised: $22.0m SERIES A, Oct 2024
Creating market solutions that facilitate 24/7 clean energy sourcing and generate new price signals for clean energy
Investors: JERA
Paris, France
Raised: €1.0m EARLY VC, Oct 2024
Terralayr focuses on "infrastructure for the short, medium, and long-term storage of energy
Investors: Creandum, Earlybird Venture Capital, Norrsken VC, Picus Capital, Rive Private Investment
Zug, Switzerland
Raised: €62.0m LATE VC, Oct 2024
We deliver nature recovery at scale to provide vital benefits for society and sustainable financial returns.
Investors: Lansdowne Partners, Aviva
Grantham, United Kingdom
Raised, £40.0m SEED, Oct 2024
Renewable Iron Fuel Technology, aims to transform energy-intensive sectors into users of clean energy by developing and commercializing iron fuel
Investors: BOM Brabant Ventures, Rubio Impact Ventures, Oost NL, PGGM Investments, Invest-NL
Eindhoven, Netherlands
Raised: €11.0m SERIES A, Oct 2024
Political Insights 🏛️
US Election Leaves Climate Tech Investors Cautious: As the 2024 U.S. election nears, climate tech investors are in wait-and-see mode. Kamala Harris is expected to uphold Biden’s climate policies, while Donald Trump has vowed to cut back unspent funds from the Inflation Reduction Act (IRA). This uncertainty has led to a 31% drop in climate tech funding, with companies like Caelux and LanzaTech considering shifting their focus internationally if support diminishes under a potential Trump presidency. (LINK)
Pacific and Caribbean Nations Push for a Universal Shipping Carbon Levy: Pacific and Caribbean island nations are calling for a $150 per ton carbon levy on international shipping emissions. This initiative aims to reduce the shipping industry’s emissions, which contribute nearly 3% of global greenhouse gases, and support vulnerable nations threatened by sea-level rise. The levy would help fund greener technologies and decarbonize global shipping by 2050. (LINK)
China Expands Its Carbon Market: China’s emissions trading scheme (ETS) will soon include steel, aluminum, and cement, increasing coverage to 60% of national CO2 emissions. Free allowances will be granted until 2027, but analysts warn that focusing on emissions intensity rather than total emissions may limit the system's effectiveness. Strengthening the ETS with a total emissions cap and auctioning allowances could help China meet its climate goals. (LINK)
Start-up spotlight 🔦
Gainforest
GainForest is a decentralised fund using artificial intelligence to measure and reward sustainable nature stewardship.
Company Focus:
Deforestation Prevention: Gainforest incentivizes forest conservation by using AI to monitor forest health and blockchain for transparent fund allocation.
Incentive-Based Model: The platform rewards local communities for meeting reforestation and conservation goals, ensuring sustainable forest management.
Core Offerings:
AI-Driven Forest Monitoring: Gainforest uses satellite imagery and AI to track deforestation, ensuring accountability and enabling performance-based payments.
Blockchain for Transparency: Provides an immutable record of environmental data and fund distribution, ensuring transparency in conservation efforts.
Key Benefits:
Financial Incentives for Conservation: Gainforest creates financial opportunities for local communities through performance-based funding for forest preservation.
Decentralized Governance: Promotes community involvement in decision-making for conservation fund allocation, fostering a collaborative approach to forest protection.
