Climate Tech Weekly Roundup

Take a look at what happened in the European climate tech startup ecosystem last week! 👀


Funds


💰 Specialist VC launches €50M fund for startups based in the Baltics.

Formerly known as United Angels VC has just announced the first close of a new €50M fund at €42M. The main focus of the fund is on pre-seed and seed-stage startups and is the first of its kind in the Baltic region to implement a dual strategy of integrating secondary transactions into a traditional venture capital fund.


🌬️ 85 frontrunners join a decarbonization fund to use their capital to fight climate change. This fund brings five to seven curated private equity funds together, which gives investors access to high-impact, diversified investments into climate technology. The fund will invest in top-tier, private climate funds with minimums as low as €100,000.


Acquisitions


➕ Copenhagen-based Cogo has acquired eScoot, a leading shared mobility aggregator in Central Europe. Together, Cogo and eScoot have helped more than half a million users in over 100 countries to find and compare shared electric scooters, bikes, and cars in their city. Launched in 2020, Cogo is one of the most comprehensive price comparison tools for shared mobility. eScoot gathers shared electric vehicles for better urban mobility and greener cities.



🦆 Universal docking and charging infrastructure solutions for electric micromobility vehicles provider Duckt has been acquired by Silicon Valley-based Micromobility-as-a-Service ACTON for an undisclosed amount. The purchase is an extension of an already present relationship, with the joint offer servicing over 100 cities around the globe including Paris, New York, and San Francisco.


Milestones

🧠 Using proprietary genome editing technology, Brain Biotech and Formo are collaborating to produce bioidentical milk protein. The move has the potential to accelerate the commercialization of alternative milk proteins. Berlin-based start-up Formo will scale up its bioidentical milk protein production with genome editing technology, leveraging Brain Biotech’s expertise and Brain Engineered Cas (BEC) platform. Brain has fermentation facilities in Germany, the UK, and the US.


🤯 Swedish startup Volta Greentech showed in a pilot at a commercial beef farm that methane emissions burped out by the animals were reduced by on average 81 percent when fed the company’s seaweed-based feed supplement. This is an important milestone for Volta Greentech whose vision is to battle global warming by drastically reducing methane emissions from cattle.


⚡European scientists make a major breakthrough on nuclear fusion energy. The UK-based JET laboratory has smashed its own world record for the amount of energy it can extract by squeezing together two forms of hydrogen. The experiments produced 59 megajoules of energy over five seconds (11 megawatts of power). If nuclear fusion can be successfully recreated on Earth it holds out the potential of virtually unlimited supplies of low-carbon, low-radiation energy.



Open calls

🧩 Join Geco’s virtual fair on sustainability for an opportunity to grow your network. Inside, visitors and exhibitors will be able to move freely, visit stands and environments with their own avatars. You can interact by carrying out various activities such as meetings, workshops, and round tables. Participating is free, just register your profile on the GECO portal.


🧵 Hyve’s roundtable for sustainable transformers brings sustainable transformers and sustainability experts to the table and discusses how companies can consider and implement sustainability in their corporate processes, in their corporate ethics, and in individual projects.


Launch


🇫🇷 French President Emmanuel Macron called for a "renaissance" for the country's nuclear industry, saying he wanted up to 14 new reactors to power the country's transition away from fossil fuels. "We are going towards an electrification of all our tasks, our way of manufacturing, of moving around," Macron said in a speech at a nuclear plant in eastern France, just two months ahead of presidential elections.



🌊 One Ocean Summit states pledge €4B to fight plastic pollution at sea.

A total of €4B will be allocated to combat plastic pollution, according to the so-called “Brest Commitments” adopted at the end of the One Ocean Summit on the 11th of February, where an agreement was also made to create a global coalition to preserve high seas biodiversity.


⚖️ Italy makes the constitution greener, as environmentalists call for action.

Italian politicians and activists praised a new law building protection of the environment into the constitution but said action needed to be taken to ensure that the country benefited. The constitutional law, approved by parliament on Tuesday, says the state must safeguard the environment, biodiversity, and the ecosystem "also in the interest of future generations".


Ecosystem


🥛 Startups working on alternative proteins — from meat and seafood to dairy and eggs — are tapping into a market set to be worth at least $290bn by 2035. And investors are taking note too: European startups have raised $1.3bn over the past two years, including a record $807m in 2020. Alternative proteins are on the rise. Take a look at these 16 alternative protein startups to watch, according to VCs. Interesting stuff


👔 Check out this job board for 646 career opportunities in Norrsken’s portfolio of impact companies.

Want to work for an impact company? Check out this job board for 646 career opportunities with Norrsken members and portfolio companies. You can also join Norrsken’s talent pool to be notified when a job is matching your skills and criteria.





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