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HomeLatest NewsClimateTrade, 011h, Solum... The Spanish startups that get on the sustainable bandwagon

ClimateTrade, 011h, Solum… The Spanish startups that get on the sustainable bandwagon

Date: June 5, 2023 Time: 06:56:16

Various companies have begun to implement sustainable pillars in their strategies with the aim of achieving decarbonization, net-zero, and different components that help combat climate change. All this, hand in hand with some of the measures that governments have created at a global level, as is the case of the European Union together with the United Nations or at a local level, as is the case of the 2030 Agenda for sustainable development. To implement all these measures, the technological field has been of great help for progress like this, and Spanish startups have been key in these developments.

New ‘climate-tech’ are born every day and Spain has been carving a niche for itself in this field. In this sense, the director of the eMobility Expo World Congress, Sandra Infante, indicates that startups at a general level are innovative projects that “seek to respond to market needs and current challenges.” This is the case of ClimateTrade, a climate ‘marketplace’ that uses ‘blockchain’ technology. In its decarbonization objectives, it facilitates the financing of carbon offset and climate regeneration projects around the world. The firm already has an international presence and has earned the trust of various investors and clients such as Telefónica, Meliá Hotels International, Sacyr… among others.

For its part, DooGood promotes the sustainable culture of companies and helps them meet the SDGs (Sustainable Development Goals). It has the support of Ibex 35 companies such as Fluidra, BBVA, Siemens Gamesa, and with its engagement metrics subscription platform, traceable ESG metrics and reputation analysis, among others. On the other hand, there is 011h, a startup dedicated to the design of carbon-neutral buildings. It became the first bet of the fund supported by the ICO, Andromeda, which is aimed at ‘green tech’ companies. Several of them are specialized in renewable energy: Solum, Stemy Energy, and one of the pioneers in this field was Holaluz before being listed or RatedPower.

Other startups look more to the side of sustainable mobility. The Spanish ‘Hyperloop’, Zeleros, has grown over time to become the leaders of this travel model that is already known as ‘the fifth means of transport’. Other examples are Hydros Power, which provides hydrogen solutions with the clear objective of redefining the concept of energy and taking hydrogen anywhere; Theo, a semi-autonomous, emissions-free tricycle robot optimized for bike lanes, maximizing functionality and safety, and Rhyde, a scooter and refurbished bike startup that seeks to reduce the amount of e-waste generated by urban mobility and avoiding greenhouse gas emissions from the manufacture of new vehicles are three more.

The eMobility Startup Forum is organized for this type of category, a competition between the most innovative start-up companies that have presented the most disruptive technology-based solutions and business models in sustainable mobility. The director of the event points out that for all companies, the environmental, social and ethical commitment channeled through ESG strategies are essential to face the current challenge. It is for this reason that the traditional company-startup collaboration is key, “they are able to offer innovative and sustainable solutions that encourage other firms to address their environmental challenges and can also provide advisory services on how to improve.”

The funds bet on them

“In addition, there are more and more investors and consumers seeking to support companies that care about the environment and social justice,” he told La Información Infante. Last year, a study by Amazon, commissioned by FTI Consulting, showed that 85% of Spanish investors recognize their intention to invest in sustainable startups.

The Next Tech Fund (ICO) is not left out of this. With its support of 100 million euros to the Beatriz González fund, Andrómeda, which seeks to accelerate the energy transition and sustainability. In total, it will have a size of 300 million euros. It also has the backing of Iberdrola (through Perseo) which has added another 100 million and Nortia Capital. Since its launch it has already made four investments in startups: Seabery; Recycle; Pachama, and 011h. Seaya Ventures, along with other of its vehicles, had already invested in other ‘eco’ companies such as Clarity AI, Wallbox, RatedPower or CrowdFarming.

Banco Santander also jumped on the green bandwagon with the aim of creating a fund of 125 million euros for investment focused on the energy transition and aimed at its private banking clients. It was founded together with EIT InnoEnergy, which is led by Santiago Gil y Gil, senior investment director. Thus, several of these investors have put money on the table and have bet on different national startups such as Designable, C02 Revolution, Reforestum, Green Urban Data, BeePlanet Factory, CoCircular, Gravity Wave, Flexidao, Too Good To Go, Bamboo Energy, among others. .

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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