Israeli climate tech startups receive $1.3M for innovative solutions - NoCamels - Israeli Innovation News
Israeli climate tech startups receive $1.3M for innovative solutions
Israeli Climate Tech Startups Receive $1.3M For Innovative Solutions
Shiri Epstein, NoCamels February 28, 2024 2 minutes
An award of $1.3 million has been split between seven Israeli climate tech startups as part of the startup category of the Climate Solutio n Prize, an initiative created to encourage innovation in this field.
The selection for the track was carried out by Startup Nation Central, a Tel Aviv-based nonprofit dedicated to promoting Israeli innovation, and the Climate Solutions Prize Organization.
The winners include:
Filo System, whose data compression engine provides storage and networking saving, which lowers energy consumption and cooling cost for data centers;
Electriq, whose innovative powder hydrogen carrier can simplify storage, transport and use of the gas in off-grid uses;
TIGI Solar, which received a prize for its renewable heat generation and heat storage solution;
Nemo Nanomaterials, whose nanotechnology solutions improve industrial materials and products;
Envomed, whose innovative development shreds and sterilizes medical waste;
Biotic, which has developed sustainable fossil fuel plastics for automotives;
and
BaTTeRi, whose vehicle charging services utilize a charging robot named Thomas, which can provide services where needed.
In addition, Amazon Web Services, the prime sponsor of the awards, chose Electiq to exhibit its clean energy at the United Nations Climate Change Conference taking place in Azerbaijan in November 2024.
“The initiative, designed to award the best and brightest climate tech startups throughout Israel, provides access to investment, partnership opportunities with global MNCs, and exposure at COP28 to global solution seekers, to promote scalable, sustainable solutions to pressing environmental challenges,” said Startup Nation Central CEO Avi Hasson.
““With the objective of channeling Israel’s ingenuity to tackle one of the biggest challenges of our times, the Climate Solutions Prize is the largest incentive prize in Israel’s history. It aims to be a catalyst for climate tech innovation in both breakthrough research and the startup ecosystem. It is vital that we mobilize and inspire the best efforts and best minds so that we can proudly leave a better world for future generations to come,” said Executive Chair of the Climate Solution Prize, Jeff Hart.
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Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”