#124 | Adaptation Tech + updates to the solar Investment Tax Credit
Understory newsletter on climate and sustainability tech
Happy September! We are super excited to kick off a busy fall season packed with events, content, and more industry news on everything climate and sustainability tech.
New this week:
Podcast episode with Hazel Horvath talking ESG practices and B-Corp certification
Article on the updates to the solar Investment Tax Credit
Register today for our September 20th Startup Showcase featuring Epoch Boats, Ampliphi, Sortile, and Raise Green.
If you have news or events to share, drop them in the Understory Slack Channel.
📚 Worth Reading
One often overlooked area of climate and sustainability tech is adaptation. Climate adaptation can take many forms, and it’s ultimate goal is to help people, animals, and plants survive a hotter and more volatile climate. While reducing global warming and carbon emissions is critically important, finding ways to survive the challenges ahead must also be a priority. Communities are already being significantly impacted by extreme heat, natural disasters, wildfires, and water crises like what is currently happening in Jackson, Mississippi.
What technologies comprise adaptation tech?
Disaster prevention & relief - wildfire prevention & detection, mobile emergency response infrastructure, etc.
Water tech - rainwater harvesting, water treatment, desalination, cloud seeding, water conservation, etc.
Agtech - hydro and aquaponic food production, precision agriculture, regenerative farming, etc.
Infrastructure modernization - data-enabled monitoring of water, sewage, and city infrastructure, early warning systems for extreme weather, resilient energy grids, etc.
Population resettlement - floating cities, 3D-printed homes, etc.
Currently, only 7% of climate tech investment goes to adaptation technologies. Bank of America estimates that the market can grow to be worth $2 trillion a year within five years.
Mitigation + Adaptation = Resilience.
Additional readings:
Harvard Business Review: It’s Time to Invest in Climate Adaptation
Seyi Fabode: Aaron Burr, Cuyahoga River and Solving Water in Jackson MS
🚀 Funding and Congrats!
Accenture acquired Carbon Intelligence, a carbon and climate change strategy consultancy.
MetLife acquired an ESG investment manager called Affirmative Investment Management which had $1.01 billion in AUM as of June 30th.
Planted Foods, a plant-based meat company, raised a $72 million Series B round.
Bridger Photonics, which detects methane leaks, raised $55 million in funding.
Battery recycling company Ascend Elements raised $50 million in funding from SK ecoplant.
WasteX, a waste-to-value solutions company, raised $525,000 in funding from Wavemaker Impact.
💡 Startup Spotlight
Checkerspot - is a high performance materials company that designs sustainable materials at a molecular level.
🌱 Startup Resources
Apply by September 28: TechStars Impact powered by Cox Enterprises accelerator program.
👀 Quick Hits
Honda and LG Energy will spend $4.4 billion to build a EV battery factory in the U.S.
Zombie ice - doomed ice that is going to melt - from the Greenland ice sheet will raise global sea levels by 10 inches.
Nuclear power - is it an environmental friend or foe?
The circular economy + the tech sector.
🎧 Podcast
Hazel Horvath: empowering sustainable transformation
Marcelo Lando: developing renewables in Latin America
Franz Hochstrasser: funding the green transition
The Understory Podcast is also available on SoundCloud, Apple Podcasts, Amazon Music, and Google Podcasts.
⚙️ Jobs
Find and share your open positions on the Understory Slack channel.
🆕 Full Stack Developer at Sortile
🆕 Director, Sustainability – Materials and Circular Economy at Levi Strauss
🆕 Sustainability Business Development- Digital Industries at Siemens
🆕 Global Climate Strategy Director at Yum! Brands
🆕 VP of Sustainability at Gelato
🆕 Director of Finance at Nitricity
Climate Tech Investment Extern at Newlab
Director of New Business at Bullhorn
Director of Sustainability Impact Narrative at Microsoft
VP, Sustainability at Meta
Decarbonization Principal Consultant at Black & Veatch
Head of Commercialization at Formo
Founding Marine Engineer at Seabound
Principal Scientist at Rho Impact
Sustainability Strategy Director at Schneider Electric
Operations Associate at Wallet Max
Head of Strategy at Returnity
Director of People at Remora
VP of Product at Higher Steaks
Marketing Coordinator at Retaaza
Operations Coordinator at Retaaza
Recycling & Waste Diversion Analyst at Cox Enterprises
🗓 Events
September 20: Understory’s Startups Driving Sustainability - September Showcase
November 2: Understory’s Startups Driving Sustainability - November Showcase
December 6: Understory’s Startups Driving Sustainability - December Showcase
Do you have any events to share? Post them in our Understory Slack community.
📧 Stay in Touch!
You don’t have to wait for our weekly newsletter for all the latest content. Join us on Slack or follow along on LinkedIn, Instagram, and Twitter to see real-time updates.