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Philanthropies eye new climate technologies for funding

On Behalf of | Jan 25, 2021 | Uncategorized

With the goal of mitigating global warming, new inventions are being invented to fight climate change within the United States. Not flashy or appealing to mainstream investors, these new technologies have been a dead-end in appeal to investors. However, enter the nonprofit sector, which has been helping inventors with their innovative climate-changing ideas.

Combining marketing with unique ideas is the main challenge; venture capitalists have been hesitant to invest in ideas that do not yield immediate profits. Here are some funds that echo the future.

Prime Coalition

According to The Washington Post, the Cambridge, Massachusetts nonprofit has an emphasis on the funding of technology that focuses on cutting greenhouse emissions.

Its portfolio of 10 “tough tech” ventures has received investments from wealthy donors that amount to $24 million. The trend of investing large amounts of money in green solutions could be an important one towards solving a worldwide problem.

With wildfires burning and hurricanes presenting daunting problems, the effects of climate change are being felt. In 2019, less than 2 percent of $730 billion went to fight climate change; that could change substantially as danger increases.

Clean Energy Trust

Based in Chicago, Clean Energy Trust has invested $5.6 million in philanthropic funds into 34 clean tech start-ups. Profits are then given to other companies by the fund.

Breakthrough Energy Ventures

A project by Bill Gates and other philanthropists, such as Jeff Bezos, the $1 billion fund has a focus on climate-mitigation technologies that address tough issues. Begun in 2015, among their risk-taking are companies that feature battery and grid storage technologies and geothermal and fusion energy systems.

The Engine

Also launched in 2015, by MIT, this is $200 million fund concentrates on “tough tech,” sustainable energy and health as well as water and food security.

Green technology and environmentally conscious business is the future. If you need help with environmental law, it is smart to trust an attorney who has experience with green-thinking companies. They might have an appreciation of earth-friendly technology and can help your business in leaving a smaller environmental footprint on our precious earth.