This is an exciting time to be building a company that tackles climate change.
It feels like every day, we’re seeing new companies emerge, or raise major fundraising rounds, to tackle enormous challenges facing our environment. And that’s a good thing – the climate problem is huge, it’s urgent, and it’s packed with opportunities to help people while building lucrative businesses.
At Incite, we believe this is exactly the type of problem that venture capital is best used for. At its best, creative capital drives innovation and helps entrepreneurs tackle big, important problems. This is also why Incite has been an early, long-term investor in climate tech companies for years.
Innovation in climate technology covers an ever-growing range of applications. It’s about so much more than deeply technical scientific innovation (although that’s a very important part).
Last week, two startups in the Incite portfolio announced their next round of funding. They speak to a broad range of new technologies, and how widely the push to “green” our economy will take us. We’re thrilled to watch them take the next step. Feel free to shoot us a note if you'd like to learn more.
Antora Energy is working on one such enormous challenge – industrial heat and power – because it’s the single greatest source of greenhouse gas emissions on our planet. Industrial plants lack a cost-effective solution to store energy, and renewable sources of energy like wind and solar can be intermittent – so they turn to dirty sources like gas and coal.
Batteries are a possible solution. But they’re expensive, and they’re typically only sufficient for a few hours of power at a time. Industrial plants need a better energy storage option. Antora has developed a clean solution for industrial plants that provides on-demand heat and power – and at a lower cost than their fossil fuel competitors.