31.10.2021 at 05:00 pm
Leading tech companies have begun to pay more attention to the climate sphere, and among them was Amazon. which announced an investment of US$2 billion in climate technology companies, with the main goal of decarbonizing completely by 2040.
Amazon believes that this goal can only be achieved by relying on new technologies, which are developed by emerging companies specialized in this field. These investments come directly from Amazon into a specialized investment fund.
This fund was first announced in June of the previous year, and Amazon believes that the success of its investments may cause the emergence of pioneering companies such as Tesla. And the investments that come out of Amazon are not limited. This is where the fund manager, Matt Peterson, explained that some companies get investments of up to $100 million.
And Amazon isn’t investing alone in climate technology. Indeed, private investments in this field have increased from 6.6 billion US dollars in 2016 to 32.3 billion US dollars in 2021, according to a recent report.
A few days ago, Amazon announced an investment in new companies, Resilient Power, CMC Machinery, and Infinium. Previously, investments in companies such as CarbonCure, Pachama, Redwood Materials, Rivian, TurnTide Technologies, BETA Technologies, Ion Energy.
Amazon’s investment in climate technology:
Amazon is now accepting applications for investment. The investments are aimed at providing solutions to problems in different areas. Including the areas of food and agricultural investments. This is as the development of these areas will reduce fuel consumption and reduce carbon dioxide and methane emissions.
The investments also include companies working in the field of electrification. The company also announced its intention to purchase 100,000 vehicles that are fully powered by electricity. And Amazon’s investment in Resilient Power comes to support that. This is where this company is working on the development of charging technologies for electric vehicles.
Besides, the investments cover green hydrogen, which is extracted from water in a process known as electrolysis. It is an area in which more than one of the companies that received the company’s investments operate.
In addition, Amazon is interested in other areas of great importance through its investments. These include long-term energy conservation – as part of sustainability efforts – including from energy storage technologies. Investments also include areas such as raw materials and recycling.
CEO of OTTO Magazine