VC and corporate investment in startups developing technology enabled solutions to climate change, and the transformation to net zero emissions, grew at a faster rate than VC investment as a whole between 2013 – 2019. In that time, US$60 billion of early stage capital was invested globally into startups contributing to tackling the net zero challenge.
As Climate Week in New York focuses attention on transforming business and economies to net zero emissions, the new research by PwC examines the global startup ecosystem critical to commercialising the innovation needed to make a net zero future a reality. The first-of-its-kind analysis defines the climate tech investment landscape, and examines global early-stage climate tech deals, volumes, trends, sectors and investors. Climate tech is defined as a broad umbrella of solutions to reduce greenhouse gas (GHG) emissions across energy, transport, the built environment, industrial processes, and food and land use; in addition to shifts towards less resource-incentive business models, or carbon removal technologies.
While climate tech is a nascent sector overall in the VC market (approx 6% of total capital invested in 2019), climate tech VC investment increased from US$418 million per annum in 2013 to US$16.3 billion in 2019. That is approximately three times the growth rate of VC investment into Artificial Intelligence (AI) over the same period.
Key factors influencing investment include capital efficiency to prove and scale solutions; and the potential for the solutions to provide cost effective carbon reduction or removal.
Nearly half of all venture dollars ($60bn) went to US and Canadian climate tech startups (US$29 billion); China is second at US$20 billion. The European market attracted US$7 billion. Mobility and Transport solutions dominate US and China investment.
“The analysis shows the urgency of the opportunity, and gap to close, to support and scale innovative technologies and business models to address the climate crisis,” comments Celine Herweijer, global leader, Innovation & Sustainability, PwC UK. “Climate tech is a new frontier in venture investing for the 2020s.”
“Some of the technologies and solutions critical to enabling this transformation are proven and need rapid commercialisation, which is why venture capital is key. It will not need trillions invested in startups to make a difference. But for the trickier technologies and markets it will need targeted support, including from governments, to make it through research and development, and the early stages beyond which capital increasingly is lining up.”
Drivers for growth
Climate tech related to mobility & transport, heavy industry, and GHG capture and storage are the fastest growing segments in the analysis, followed by food, agriculture, land use, built environment, energy, and climate and Earth data generation.
Investment in micro-mobility such as e-scooter and bike platforms and wider transport innovation has grown dramatically, recording a compound annual growth rate (CAGR) of 151%, and representing 63% (US$37.4 billion) of all climate tech funding over the past seven years. The scale of transport innovation has also driven bigger deals.
“The climate tech market is maturing. As a society we are seeing more entrepreneurs launch startups, more investors back them, and an increasing number of larger funding rounds for later-stage high-potential deals.”, said Azeem Azhar, Senior Advisor to PwC UK, founder of Exponential View, and co-author of the report. “But PwC’s analysis shows the ecosystem is still nascent, with key gaps in the depth and nature of funding available to founders and tricky structural hurdles for them to navigate as they scale their businesses.”
Climate tech venture funding is coming from every corner of the market. Investors range from more traditional VC firms and venture funds specialising in sustainability, to corporate investors including energy majors, global consumer goods companies and big tech, government backed investment firms, and private equity players getting exposure to deals earlier.
The strategic role of corporate venture capital (CVC) in particular, is key to many climate tech startups. Particularly those typified by high capital costs, targeted at disrupting asset-heavy incumbent industries with high barriers to entry, such as in energy, heavy industry and transport. For Mobility & Transport, 30% of the climate tech deals include a CVC firm, and in Energy, 32% of capital deployed came from CVCs. Overall, nearly a quarter of climate tech deals (24%) included a corporate investor.
“The involvement of corporates will be key to the continued success of climate tech – both in terms of their net zero commitments driving demand for new solutions, and their investments into commercialising innovation. It’s not just the financial means they bring, but the commercial know-how, and industry knowledge to help startups navigate how to rapidly deploy and scale new innovations into the market,” comments Celine Herweijer.
Analysis of the top investment centres in Europe, Asia and the Americas shows climate tech startup investment in the San Francisco Bay area (US$11.7 billion) is 56% higher than its nearest rival, Shanghai (US$7.5 billion). Compared with the other regions, Europe is more invested in energy, particularly developing the core technologies for renewable energy generation (predominantly photovoltaics (PV) cells) and energy storage (batteries), demonstrating the potential for regional specialist capabilities to develop in a second wave of development of the climate tech sector, following mobility and transport.
Outside of mobility and the dominant US and China markets, Berlin, London, Labege (France) and Bengaluru, India were amongst the top ten cities for climate tech startup investment, attracting US$1.3 billion mainly across energy, agriculture and food and land use.
The COVID-19 pandemic reinforces climate tech need and opportunity
In the short term, while COVID-19 is likely to have caused a lull in VC market activity during 2020, long term investment and potential in the market appears resilient. Over the past year, close to 300 global companies have commited to achieve net zero emissions before 2050. Many of these commitments include substantial pledges to fund innovation.
“Every commitment represents a demand signal—a new customer—in the market for a solution that helps them achieve net zero,” comments Celine Herweijer. “More broadly the increased profile of Environmental, Social, and Corporate Governance (ESG), increasing government commitments to a ‘green recovery’, and continued rising consumer pressure to respond to the climate crisis is cementing demand for climate tech.”
“Despite significant and promising levels of growth, with just ten years to reduce by half global greenhouse gas emissions to limit global warming to 1.5C, climate tech needs a rapid injection of capital, talent and public-private support to match its potential to build and accelerate faster, bolder innovation,” adds Celine Herweijer.
Millions of Moscow residents manage their everyday lives through their smartphones
The creators of My Moscow, a mobile application of the Russian capital’s urban services, have analysed how and why Muscovites use it. It turned out that, more often than not, the city’s residents prefer to pay bills and submit water and electricity meter readings via their smartphone.
The mobile app appeared in the Russian capital at the beginning of 2019, and its first functions allowed to solve the simplest housing and utility services: to enter meter readings and pay bills. Since its launch, the app has already been downloaded more than three million times. Now it can be used to make an appointment with a doctor or for a COVID-19 test, get a referral for an antibody test and coronavirus vaccination, get information on children’s school performance and even check the history of a car in Moscow before buying it. Muscovites appreciated the convenience of paying bills through the app service – in August 2021, the number of payments made online using a smartphone doubled. People pay utility bills, car fines, children’s extracurricular activities – payment takes only a couple of minutes, and the Russian payment system allows making these transfers without commission. In addition, the My Moscow app has recently introduced a charity service, through which every user can donate money to verified foundations. Muscovites do not ignore the opportunity to help: since the launch of the function in the app, users have transferred 245,000 rubles to charity.
The city services app is constantly being updated: not only does it change the design or add new functions, but also integrates new technologies. In the near future, a voice assistant will be added to the My Moscow service. It is currently available to 40% of users in test mode, but by the end of the year, it will work in smartphones of all app owners. Voice assistant knows how to show homework and children’s school schedule, dates of scheduled hot water outages, helps cancel a doctor’s appointment, and answers popular questions, such as how to transfer a child to another school or get an international passport. The assistant is being actively trained, and by the end of the year it will help Muscovites to view electronic medical records, look at children’s school grades, pay fines, receive data on utility and educational bills.
In October 2020, My Moscow mobile app won the silver prize in the Smart Sustainable City Awards of the World Organisation for Smart Sustainable Cities (WeGO) in the Government Efficiency category. In Russia, people actively use digital services to resolve everyday issues, and the experience of using the My Moscow app showed that 60% of city residents prefer to use these features specifically from a smartphone. Every month, app users access the digital city services more than 500,000 times, which is efficient and saves time in managing everyday life in the rhythm of the megacity.
Do You Really Need Name-Brand Cartridges?
Cartridges from printer manufacturers like Hewlett-Packard are notoriously expensive. Considering the price of their basic equipment, ink may cost almost as much as the machines. This economic model has been raising eyebrows for many years. Customers are looking for affordable alternatives, and this global demand is met by the generic cartridge industry. Discovered the best ways to buy inkjet cartridges in Canada.
In recent years, the market for alternative replacements has evolved a lot. You can get excellent quality of printing, free shipping and extended warranties from stores like Smart Ink. For example, the HP 950 ink you can buy at this shop costs under $28, while the full pack from the manufacturer costs well over $100. Here is how to choose the best cheaper replacement for your inkjet cartridge whatever the brand.
Consumers can slash their expenses if they purchase original products from independent brands or recycled OEM cartridges. Both options offer substantial savings, particularly in the long run. The best providers comply with international quality standards, which guarantees trouble-free printing (CE, ISO 9001, ISO 14000, Reach, STMC). Here is how these types of products compare.
Original cartridges may be recycled. This process is known as remanufacturing, and it is based on the reuse of the original shell and internal components (with selective replacements if necessary). Essentially, used cartridges are emptied, thoroughly cleaned and filled with fresh ink, so they can be installed again.
This is the most sustainable method, as it reduces waste. Instead of buying a brand-new cartridge every time you need ink, you get a recycled product. Previously, consumers would take their old products to service providers at physical locations. Today, it is much easier to purchase these products online with free shipping, a money-back guarantee, and other benefits.
Since the first compatible cartridges emerged, printer manufacturers have tried to prohibit them. Fortunately for consumers, their lawsuits have failed. Products from third-party brands are legal, and they are also much more affordable than the OEM supplies. Both the cartridges and the ink come from the same companies. These products are designed for particular models of printers.
The equipment manufacturers may issue firmware updates preventing the machines from recognizing non-original ink. This restriction is easy to circumvent — just turn off the updates and use any supplies you like. When shopping around, pay attention to the following:
- Certified quality (compliance with standards listed above)
- Positive reputation of the store
- A money-back guarantee
- Updated chips
- XL volume
- Free shipping
- Sustainable production
- Reliable packaging
Popular printer manufacturers sell affordable equipment with expensive consumable supplies. This lets them attract new buyers and profit from the ink for years. However, savvy customers know better than to follow their recommendations. Generic cartridges and remanufactured products offer great value for money — just do a bit of research to find trusted stores in your area.
What Is A Mac Data Recovery Software & How Does It Work
With the advent of technology, data storage remains a crucial element of business and communication. Whether using a Windows PC, Android, or macOS, you need versatile software to secure your data. If you continuously use MacOS, you need good Mac data recovery software.
Of course, most people still use some of the simplest ways to free up space by finding and deleting files and folders that are no longer needed. Whether these files were downloaded or shared to your MacBook, deleting them to create more space is a straightforward process. However, it is better not to fret, as recovering files that have been accidentally deleted is equally simple and easy.
There are several good data recovery software you can install and use to recover files and folders. You can easily use this software to recover deleted files on Mac, including finding and removing duplicate files, clearing temporary files, and emptying all the trash cans.
In this article, we focus on explaining more about Mac data recovery software and how they work. The article will help you better understand Mac data recovery software, how they work, and how to choose the best to use with your system.
Mac Data Recovery Software
The best data recovery software for Mac will help you:
- Recover data from crashed or non-booting Mac
- Recover deleted documents, emails, videos, audios, and photos
- Protect macOS Big Sur and lower versions
- Support data recovery from USB corruption, unrecognized drives, and partition loss
Let’s look at one of the best data recovery software for Mac – Disk Drill for Mac.
Disk Drill For Mac
Disk Drill, developed by Cleverfiles, is the free data software for Mac OS X. in addition to having previewing capabilities for recovered files and folders, Disk Drill Basic contains several other functionalities such as Guaranteed Recovery and Recovery Vault, boot disk maker, lost partition restoration and so on. This makes Disk Drill one of the best Mac data recovery software to use.
The latest version of the software has an extensive database of file signatures that can be recovered from drives even when your devices are formatted. Besides, the software uses very efficient and quick scanning algorithms.
If you are using macOS and think that this software may become obsolete after some usage time, you are wrong. Disk Drill Data Recovery for Mac is constantly updated and supported by committed teams to cover all the cases of data corruption that may result from the loss of power, improper removal of a device, etc. Below are some of the main features that make Disk Drill a top data recovery software for Mac:
- Guarantee Recovery is a background service that saves a copy of each file to a user-specific folder. Both the data protection modules significantly reduce the chances of permanently losing critical data.
- Recovery Vault provides an extra layer to the Mac trash bin that references the deleted files on Mac. The data recovery feature provides the ability to recover lost data from a byte-to-byte cone version of the device and even partitions without risking the original storage source.
- Other available tools for free include Disk Health Monitor, Time Machine Recovery, Emergency Recovery Boot Drive, Duplicate File Finder, and Mac Cleaner.
Disk Drill, therefore successfully manages the balance between essential features for casual users and those advanced features required by professional and enterprise users.
How Does It work?
1. Clean Up Your Mac
The apps help you get rid of temporary files, uninstall unwanted applications, clean up additional languages, delete big files stored in the mail, among other locations.
Disk Drill has significant features of cleaning applications and will help you get rid of duplicate files too quickly.
2. Find And Remove Duplicate Files
Disk Drill helps you by quickly finding and removing duplicate data on your Mac.
3. Empty The Trash Cans
Emptying the trash cans is the other way to empty or clean up space on Mac. Usually, when you delete files, they are sent to the trash can for storage so that you can easily recover them.
4. Uninstall Applications
You may have installed several apps in the Mac that you no longer use. Such apps take up much space on your device, and you can remove them with Disk Drill to free up space.
5. Clean Out Temporary Files
Many people still retain files they have used in their MacBook. Such files will be taking up your disk space without adding any value. Cleaning the temporary files is an excellent way to free up some space for more important files.
Other Mac Data Recovery Software To Consider
Apart from Disk Drill, other software that is also considered among the best recovery apps on Mac include:
- PhotoRec For Mac
- EaseUS Data Recovery Wizard for Mac
- MiniTool Power Data Recovery for Mac
- Softtote Mac Data Recovery
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