Europe’s Emerging Climate Tech Innovations.

Jan 19, 2024 | Industry News, Insights, Uncategorised

Feeling the Heat of Climate Change

Barack Obama once poignantly stated, “We are the first generation to feel the impact of climate change and the last generation that can do something about it.” This sentiment resonates more than ever as we face the escalating challenges of global warming. The Paris Agreement’s ambitious goals, including capping global warming at 1.5°C and achieving net-zero emissions by 2050, are now more critical than ever. Initially, it was believed that the crucial 1.5°C threshold wouldn’t be crossed until March 2045. However, recent data, examined on the 8th anniversary of the agreement, paint a more urgent picture, indicating we could reach this milestone as soon as February 2034. This alarming shift underscores the need for transformative change and increased funding for climate technology innovations.

The State of Climate Tech Funding

The world of climate tech funding is a dynamic and ever-evolving landscape. Despite a dip in funding for climate tech startups in 2023, there’s renewed hope as we saw an uptick towards the end of the year. The United States has been a significant player, raising three times more funding than China, the second highest, in the past five years. However, Europe is not far behind, with countries like the United Kingdom, Germany, and Sweden making substantial contributions to climate tech funding globally.

Sweden’s Remarkable Growth in Climate Tech Funding

Sweden’s commitment to climate technology funding is nothing short of impressive. In the third quarter of 2023 alone, Sweden saw a staggering 224% increase in funding, propelling it ahead of the United Kingdom and Germany in global rankings. This surge underscores Sweden’s dedication to fostering innovation in the fight against climate change.

The European Climate Tech Landscape

Europe’s climate tech scene is vibrant and diverse, with numerous countries contributing to its growth. In addition to the prominent players like the UK, Germany, and Sweden, nations such as Spain and Ukraine are emerging with their own exciting lineup of startups.

Carbominer

Carbominer, a Ukrainian startup, is revolutionizing climate technology with its modular “plug-and-play” Direct Air Capture (DAC) technology. This innovation provides a sustainable, fossil-free alternative for EU agriculture growers, capturing CO₂ directly from the air. In 2023, Carbominer received a significant €1.5 million grant from the European Innovation Council (EIC) Accelerator, bolstering its mission to deploy modular DAC systems across Europe.

H2 Green Steel

H2 Green Steel, hailing from Sweden, is making waves in the European Steel industry. The industry, a major carbon emitter, is undergoing a transformation thanks to H2 Green Steel’s use of green hydrogen. The company’s achievements in 2023, including recognition as the “Sustainability deal of the year” by Project Finance International (PFI), position it as a key player in the decarbonization efforts.

Levidian

The UK-based startup Levidian is grabbing headlines with its LOOP technology, a patented decarbonization device. This technology integrates with existing infrastructure to strip carbon from gas flows, enabling businesses to decarbonize immediately. Levidian’s recent pilot project with Tadweer in Abu Dhabi highlights its global impact and promising future.

ReFi Pools

Spain’s ReFi Pools is redefining carbon offset investments with its secure marketplace for future carbon credits. Blending advanced financial tools with risk reduction strategies, the company is democratizing sustainable investments. Selected for the AWS Global Fintech Accelerator, ReFi Pools is set to make significant strides in both the fintech and climate tech sectors.

NovoCarbo

Germany’s NovoCarbo is a leader in biochar carbon removal. Aiming to remove one million tons of CO₂ from the atmosphere by 2030, the company’s recent expansion, including the Carbon Removal Park Baltic Sea, positions it for significant growth. Biochar is emerging as a promising method for carbon removal, and NovoCarbo’s innovative approach is gaining international attention.

The Role of Innovative Startups in Climate Goals

Startups play a crucial role in achieving climate goals. Innovations from companies like Carbominer, H2 Green Steel, Levidian, ReFi Pools, and NovoCarbo are not only advancing technology but also driving progress towards a more sustainable future.

The Importance of Continued Investment in Climate Tech

Continued investment in climate technology is essential for the development of innovative solutions. Funding not only supports technological advancements but also enables these startups to scale their impact globally.

The Global Race to Net Zero

The race to net-zero emissions is a global challenge. While Europe may not be leading in all aspects, the region is still a hub of innovation, contributing significantly to the global effort to combat climate change.

Europe’s Position in the Climate Race

Europe’s strengths and challenges in the climate race are multifaceted. The region’s commitment to funding and innovation positions it as a key player in the global effort to achieve net-zero emissions.

The Path Ahead for Europe

Looking ahead, Europe faces both opportunities and challenges in its journey towards a sustainable future. The region’s ongoing commitment to innovation and investment in climate tech will be crucial in shaping its role in the global fight against climate change.

Europe’s Pivotal Role in Climate Innovation

As UN Secretary-General António Guterres rightly said, “The climate emergency is a race we are losing, but it is a race we can win.” To emerge victorious, we must continue to invest in and support innovative climate technologies. European startups like Carbominer, H2 Green Steel, Levidian, ReFi Pools, and NovoCarbo are at the forefront of this innovation, offering groundbreaking solutions to combat climate change. As we collectively strive towards the 2050 net-zero emissions goal, it’s clear that technology will play a pivotal role in creating a sustainable and resilient world. For more information on LCM and our role in the Clean Tech space, get in touch below.

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Gina Elliot, Chief Services Officer

Buildings IoT (Client)

It has been a pleasure to work with Lewis for many years. His understanding of the complex needs of the Smart Building, Proptech, and Climatec is unique in this industry. He is always thorough in his work and provides well-qualified candidates. Lewis is part of the team, realizing that each company’s ongoing success relies on his knowledge of our needs. He puts considerable time and effort into identifying our goals and his follow through is impeccable, ensuring that company and candidate are well-matched. It is obvious that he is passionate about his work. Lewis has a wide reach with a large network of vetted candidates. He establishes and nurtures his relationships, providing counsel and advice along the way to business and individual. He is my “go to” when looking for the next member of my team.

William Behn, President

TOSIBOX (Client)

As the world experiences a tighter and tighter labor market, the ability to attract and retain talent will be a core tenant of any thriving business. And because Recruiters pop up everywhere, it makes sense to partner with the best and the brightest and those with staying power. What I look for in a Recruiter is simple: Integrity, Teamwork, and the ability to go and get beyond what's on the resume/CV. As you look to grow staff it would be hard to do better than Lewis Martin. Lewis is able to operate across borders and oceans. His candidates respond to him and his customers love him. Lewis and his team dig into your needs, understand the soft skills necessary to be successful, and as was the case with me recently, will pick up the phone even while on holiday.

Mike Cioce, Vice President of Sales

Legend Power Systems (Client)

Lewis is a true professional and great to work with! He has filled five positions for us and has found us more great candidates than we can currently hire. He does a great job of giving us multiple "A player" level candidates to choose from. Most of the highest achieving people in our organization have been sourced by Lewis and his team. He is proactive and very fair to work with. I highly recommend Lewis to anyone looking for a top-tier talent partner.

David Joy, Head of Sales

Infinitum (Client)

Lewis Martin and his team lead a recruiting process that landed me at Infinitum as Director of Sales. I recently worked with Lewis again to successfully recruit an additional Sales Manager to join our Infinitum sales team. Lewis approaches his work with the highest degree of professionalism. He carefully reviewed our requirements, found, and qualified excellent candidates, and supported the interview, offer, and onboarding stages. I am very pleased with the job that Lewis did and recommend his services.

Michael Westerfield, Director of Product

Acuity Brands (Candidate)

I was impressed Lewis could speak to my strengths with the client and discuss how my skills would complement the team. He convinced the client I was the right person for the role. While I wasn’t looking for a new role at the time, he clearly articulated the clients’ objectives in a way that also sparked excitement with me. Throughout the process, he worked closely to build the relationship and role so everyone was excited to move forward. While I’ve worked with talent acquisition professionals before, I’ve never worked with anyone more passionate and thorough as Lewis.

Edi Demaj, Co-Founder

KODE Labs
LMC possesses an unparalleled ability to identify and attract top-tier talent that aligns perfectly with our company's needs and culture. Their strategic approach to listening, understanding our needs and then using that information to source, screen and engage candidates has resulted in a remarkable success rate in filling key positions for us at KODE Labs. Their ability to maintain clear communication and transparency throughout the process is their greatest asset and ensures a smooth and efficient recruiting process.

Hugh Amoyal, Chief Executive Officer

Bueno
Lewis and his team have been terrific in not only advising on recruitment strategy but have also been able to help us with identifying commercial partners to help us with client deliverables. LMC is not just a recruitment service provider to Bueno, they are a key partner in our global expansion journey.

Mike Luscombe, Head of Global Growth

Radix IoT
Lewis is a pro and has built an extensive international network in the smart buildings’ community. He’s able to establish trust relationships and act as an advisor to both hiring managers and candidates. If you’re looking for a recruiter in the smart buildings space, he should be your first call!

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