The energy transition at the hands of startups
Rethinking the ways in which we produce and consume energy is more pressing than ever. In 2015, the Paris Agreement reached a global consensus around the necessity to adopt measures to achieve climate neutrality and mitigate climate change consequences. The same year, the UN adopted the 2030 Agenda for Sustainable Development, which included “affordable and clean energy”. More recently, the European Green Deal included the clean energy transition in its long-term vision for the EU to become climate-neutral by 2050. The Russian invasion of Ukraine has only made this energy crisis even more pressing. A new energy model is needed now more than ever before – and startups have a key role to contribute.
A recent report from the International Energy Agency emphasizes that energy innovation is expanding because of startups. Clean energy transitions have already proven to be an opportunity for economic recovery during the Covid-19 pandemic – and will continue to be a major market opportunity for countries around the world in the years to come.
Seeing the pivotal role startups play in the clean energy transition, we wanted to spotlight a few disruptive startups that are already leading the way towards a more sustainable energy framework.
Fervo Energy implements geoscience innovation and cutting-edge technology to produce carbon-free and renewable energy from geothermal sources with a firm commitment to accelerating the clean energy transition.
Sense employs AI technologies to make homes smarter and more efficient in energy consumption. It has developed a system that monitors in real-time the energy used for each device, allowing individuals to identify how much energy, when, and where their houses are using. Thanks to this, it is possible to reduce energy bills and lower their carbon footprint.
Transaera provides an innovative solution to tackle one of the largest greenhouse gas emission sources, air conditioning. What is new in the AC design is a highly porous material called metal-organic frameworks, which captures moisture from the atmosphere enabling it to cool the air more efficiently. It is believed that thanks to this new technology ACs could have one-fifth the climate impact of traditional ones.
Startups have proven once again to be the backbone of innovation and the big solution providers to our most pressing challenges. In order to pave the way for a sustainable transition to clean energy, we ask governments and policymakers to empower Greentech startups through innovation-friendly rulebooks to make it happen.