TEL AVIV, Israel, Feb.28, 2024 /PRNewswire/ -- $1.3 million dollars were awarded to Israeli climate tech startups today as part of the startup track of the Climate Solutions Prize(CSP), an initiative that incentivizes climate innovation to address the global climate crisis. The startup track was led by Startup Nation Central together with Climate Solutions Prize Organization.
The Startup Track prizes include the premier flagship Equity Investment of $1M from Capital Nature as well as a roadshow to Singapore from Temasek Foundation,an investment and incubation process with ESIL, and engagements with corporate business units from Continental, E.ON, Italgas and Takeda to Israeli early-stage startups developing innovative climate tech technologies. In addition, Amazon Web Services and Deloitte offered market access and professional support to the startups in this initiative.
"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 Jeff Hart,Executive Chair of the Climate Solutions Prize.
Startup Nation Central's CEO, Avi Hasson commented on the importance of the initiative: "As a recognized leader in developing advanced solutions to global challenges, Israel is extremely well-positioned to take a central role in battling climate change and bringing solutions to the biggest shared challenge of our times. 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".
The winners of this year's challenges:
- Capital Nature's $1M Flagship Investment for TRL 4+ companies with innovative solutions which address the climate crisis awarded to Filo Systems for their data compression engine that provides optimized storage and networking savings, enabling significantly lower energy consumption and cooling costs for data centers across the world. Filo's technology can reach a projected environmental impact of up to 1% reduction in annual global emissions.
- Temasek Foundation's Disruptive Decarbonization Prize for innovative decarbonization solutions helping urban cities remove carbon emissions at scale: awarded to Electriq for their innovative powder hydrogen carrier that can be transported in ambient and non-pressurised conditions– simplifying storage, transport, and use of hydrogen in off-grid applications and long-term storage.
- E.ON's Energy Solutions for Industry & Buildings challenge for new and innovative digitally enabled energy solutions for clients in the industrial and buildings segment to help deliver energy and heat transition faster: awarded to TIGI for renewable heat generation and heat storage solutions for commercial and industrial applications.
- Italgas' Decarbonizing Energy Distribution Infrastructure Challenge for innovative technologies in energy and distribution infrastructure focused on driving energy transition and decarbonization efforts in Europe, aligning with the EU's Green Deal Targets: awarded to Nemo Nanomaterials for providing industrially scalable nanotechnology solutions that enhance performance and improve the properties of industrial materials and products.
- Takeda's Addressing Plastic Waste in the Plasma Industry Challenge for solutions that reduce single-use plastic waste, including both medical waste and non-hazardous waste, was awarded to Envomed for a unique machine that shreds and sterilizes medical waste simultaneously using a scientifically developed and proven chemical sterilization technology that can achieve a 6-log reduction of spores in infectious medical waste.
- Continental's Sustainable Materials for Automotive Applications Challenge for new, novel materials for automotive applications that support Continental targets to achieve 100% carbon neutrality and emission-free mobility by 2050, was awarded to Biotic for Enabling optimal transition from fossil fuel plastics with a scalable, fully biological, environmentally friendly process, contributing towards reducing greenhouse gas emissions, with a zero waste and circular economy approach.
- ESIL's Early-Stage Funding Challenge for scaling DeepTech solutions to climate-related challenges, and providing know-how, up to 2M NIS of funding, network, and pilot facilities: awarded to BaTTeRi, an innovative EV Charging as a Service (CaaS) company with a zero-infrastructure method based on a proprietary charging robot, Thomas. Thomas enables sites and parking lots to offer rapid DC EV charging in every parking spot.
- In addition, Amazon Web Services, as primary sponsor of the CSP, chose the startup Electriq to exhibit at their Clean Energy Showcase at COP28.
Thomas Birr, Chief Strategy and Innovation Officer at E.ON: "Along the way we've learned that the approach of collaborating with startups is more successful than trying to find them ourselves. To bridge the culture gap between startups and corporations, we've learned that you need an ambassador in the company who speaks both languages. That's why we have people in Palo Alto or in Tel Aviv. We continue to put our trust in Israel's high-tech ecosystem."
Katharina Peier, Head of Growth Field Sustainable Technologies at Continental: "Continental's sustainability collaborations with startups follow a multi-faceted strategy,from collaborations with academia to partnerships with startups. The importance of first, 'boots on the ground' such as our team Co-Pace. Second, closely working alongside local networks and NGOs – such as Start Up Nation Central for the Climate Solutions Prize - is an integral part of this strategy.".
