🌎 Our insider's guide to NYCW #208

Happy Monday!

You might be preparing for your summer vacation today, but we’re getting ready for next month’s New York Climate Week — and you can plug in. Check out our public events tracker here, and submit your own events to us at this link.

In other news, federal interest rate cuts and holds; airlines dropping decarbonization targets; and South Africa's new climate change laws.

And in deals, $258m for utility solar, $194m for fusion across three deals, and $120m for ESG compliance.

Thanks for reading!

Not a subscriber yet?

Subscribe Now

📩 Submit deals and announcements for the newsletter at [email protected].

💼 Find or share roles on our job board here.

Countdown to New York Climate Week 2024

Okay, we’ll just go ahead and admit it – we’re already looking forward to New York Climate Week 🥳 Nerdy, and we own it! For our first newsletter issue of August, it may seem overeager to dedicate this issue to an event at the end of September… but NYCW can be wholly overwhelming without a plan of attack.

New York Climate Week is so, well, New York. Decentralized, double-booked, and heavy on a week’s worth of cocktail hours. And just like with living in New York, NYCW is better when you “know a guy.” Only, we don’t think that navigating the week should be gatekept.

To help skip the hours of calendar coordination, we’re building an open list of NYCW events for the climate tech founders, funders, and supporters. Last week, we sent out a New York Climate Week event submission form, and you delivered — and we’re excited to bring you the result. You can check it out here.

Explore NYCW Events

CTVC x NYCW Events Tracker

Over the years, Climate Week has grown up with the climate tech industry from being a policy-centered offshoot of the UN General Assembly to an independent unconference climate epicenter. It’s the one week of the year where innovators, funders, customers, and policymakers convene to collaborate, challenge, and celebrate across party lines. It’s truly the most wonderful time of the year!

This is a living document — submit your event or anything we’re missing via this form, and we'll continue to update our list.

Plus, we’re hosting a variety of events throughout the week. Are you planning to be in town? Let us know! Hope to see you there.

Share NYCW Events Here

Deals of the Week (7/29-8/4)

Late-Stage / Growth

⚡ Zap Energy, a Seattle, WA-based Z-Pinch fusion developer, raised $130m in Series C funding.

🌱 osapiens, a Mannheim, Germany-based ESG compliance platform, raised $120m in Series B funding from Goldman Sachs Alternatives and Armira.

⚡ TS Conductor, an Arcadia, CA-based next-generation conductors developer, raised $60m in Growth funding from Wellington, Blue Earth Capital, Breakthrough, Edison International, Energy & Environment Investment, and other investors.

🏭 UgoWork, a Québec, Canada-based energy-as-a-service solutions for forklifts platform, raised $51m in Series C funding from Desjardins Capital, Export Development Canada, Fonds de solidarité FTQ, and Investissement Québec.

📦 Unspun, a San Francisco, CA-based sustainable robotics fashion manufacturing platform, raised $32m in Series B funding from DCVC, Decathlon Capital Partners, E12 Ventures, Lowercarbon Capital, and SOSV.

🌾 InnerPlant, a San Francisco, CA-based living sensors for farms developer, raised $30m in Series B funding from Coutts Agro, Bison Ventures, John Deere, and SYSTEMIQ.

Early-Stage

⚡ Type One Energy, a Middleton, WI-based nuclear fusion powered by stellarator devices developer, raised $54m in Seed funding from Breakthrough, Centaurus Capital, Foxglove, and GD1.

🔋 Peak Energy, a Denver, CO-based sodium-ion battery systems developer, raised $55m in Series A funding from Xora Innovation, Doral Energy-Tech Ventures, Eclipse Ventures, Lachy Groom, TDK Ventures, and other investors.

💨 Graphyte Carbon Removal, a Pine Bluff, AR-based permanent carbon removal platform, raised $30m in Series A funding from Carbon Direct Capital, Prelude Ventures, Breakthrough, and Overture VC.

💨 Applied Carbon, a San Francisco, CA-based crop residue into biochar technology provider, raised $22m in Series A funding from TO VC, Anglo American, Autodesk Foundation, Congruent Ventures, Elemental Excelerator, and other investors.

🛵 Simple Energy, a Bengaluru, India-based smart electric scooters manufacturer, raised $20m in Series A funding from Desai Family Office, Dr. A Velumani’s Family Office, Haran Family Office, and Vasavi Family Office.

🌱 Tset, a Vienna, Austria-based cost and carbon management software platform, raised $14m in Series A funding from Brose Ventures, Carbon Removal Partners, and Ingenics Holding.

🛵 Kinetic Green, a Pune, India-based micro-mobility vehicle manufacturer, raised $20m in Debt and Series A funding from Greater Pacific Capital.

🌾 Leaf Agriculture, a Los Angeles, CA-based a technology-first approach to farm data company, raised $11m in Series A funding from Spero Ventures.

⚡ OpenStar Technologies, a Wellington, New Zealand-based levitated dipole magnetic confinement fusion developer, raised $10m in Seed funding from Outset Ventures, Aspire, Blackbird Ventures, Icehouse Ventures, K1W1, and other investors.

⚡ Axle Energy, a London, UK-based energy demand flexibility software platform, raised $9m in Seed funding from Accel, Amit Gudka, Eka Ventures, Hanno Renner, Picus Capital, and other investors.

🧪 Scimplify, a Bengaluru, India-based specialty chemicals manufacturing platform, raised $7m in Series A funding from Omnivore.

Other

🔋 esVolta, an Newport Beach, CA-based utility-scale energy storage project developer, raised $258m in Project Finance from MUFG Bank, Cadence Bank, KeyBanc Capital Markets, and Nomura.

⚡ Wallbox, a Barcelona, Spain-based residential EV charger developer, raised $45m in Post-IPO equity funding from Generac Power Systems.

📦 Onepak, a Boston, MA-based logistics and returns platform, raised $20m in funding from nuveen.

⚡ ManoCap Energy, an Accra, Ghana-based renewable energy investment vehicle, raised $20m in Debt funding from Mirova.

🌾 Indigo Ag, a Boston, MA-based sustainable agriculture solutions provider, raised $7m in Grant funding from BIRD Foundation.

Exits

⚡ Chemtec New Energies, a Willis, TX-based hydrogen refueling stations provider, was acquired by Celly H2 for an undisclosed amount.

☀️ Schletter Group, a Kirchdorf, Germany-based solar mounting systems platform, was acquired by Enstall for an undisclosed amount.

⚡ Avantus, a Los Angeles, CA-based renewable energy project developer, was acquired by KKR for an undisclosed amount.

New Funds

Quinbrook Infrastructure Partners, a London, UK-based investment firm, held a $3bn final close of its Net Zero Power Fund that invests in renewable energy and storage projects.

Breakthrough Energy Ventures, a Kirkland, WA-based investment firm, raised $839m for their third fund that invests across all climate verticals.

ArcLight Capital Partners, a Boston, MA-based investment firm, announced the launch of a renewables focused investment vehicle with $500m in commitments.

Helios Investment Partners, a London, UK-based investment firm, held a first close of its $200m fund that invests in Africa-based climate solutions.

Can’t get enough deals? See full listings and deal analytics on Sightline Climate

Request a Sightline Climate demo

In the News

The Bank of England lowered interest rates to 5%, its first cut since 2020, in light of easing inflationary pressures, while the Fed held rates but signaled a likely cut in September. That could boost the financing of climate tech projects after a relatively weak first half of 2024.

South Africa enacted its first comprehensive climate change law, which requires all localities to publish climate adaptation plans and will set caps on high-emitting industries, a sign of progress in one of the most carbon-intensive major economies globally.

Air New Zealand has become the first major airline to drop its 2030 climate targets, citing the lack of availability and rising costs of green jet fuel. This announcement is a sign of the current headwinds in decarbonizing the aviation industry, as we covered last week.

Vehicle to Grid is coming to life in Baltimore, with a new pilot from the local utility paying electric Ford F-150 truck owners to power homes with the excess energy stored in their EV batteries. This could create greater grid flexibility and defray the cost of owning an electric vehicle, which are still seen as expensive in the US.

As researchers find that oxygen is produced on the ocean floor, governments are calling upon the International Seabed Authority (ISA) to define rules for deep sea mining in international waters to prevent irreversible damage to understudied ocean ecosystems. Deep sea mining could potentially offer minerals critical to the energy transition such as nickel, manganese and cobalt.

The US has begun work on the first Gen IV nuclear reactor at Oak Ridge, Tennessee, which uses TRISO fuel, in a major milestone to catch up with Russia and China. Meanwhile, small modular reactors (SMRs) are a key feature in India’s newly released financial budget, with an allocation of $3bn.

BP has reached a final investment decision for its largest green hydrogen project at a refinery in Spain, a partnership with Iberdrola. However, exact details remain unclear and the project has been scaled down from plans for 2GW of capacity to a commitment of only 25MW.

The DOE announced new funding worth $48.6m for offshore wind R&D. The money will go to research areas such as floating offshore wind platforms, fixed-bottom foundations, wildlife protection, the domestic supply chain, and infrastructure resilience.

Follow CTVC on LinkedIn

Pop-up

Extra credit: SBTi releases its first evidence synthesis report on the effectiveness of carbon credits (or lack thereof).

Objects in the mirror: Kyoto Fusioneering thinks fusion is closer than it appears, as soon as 10 years away.

Can you be-leaf it?: Study finds trees also absorb methane, increasing potential climate benefits.

D(eco)rated olympians: Paris 2024 pledged to reduce its carbon emissions by half.

Lean, mean, green machines: Solar developers use robots to install panels amidst labor shortages.

Started from the bottom: Underwater robots provide new images of ice shelf underside melting patterns.

Improvise. Adapt. Overcome: More investment is focused towards addressing the effects of climate change, accounting for 5% of all efforts.

Not in my backyard: Local ordinances against renewables have grown over time.

Fon-doom: Rising sea levels threaten the cheese-making town of Gouda.

In wildlife conservation good news, tigers and horses are back in Kazakhstan.

Can giant clams teach us to make solar energy more efficient?

Opportunities & Events

💡 Twilio.org Climate Tech Prize: Are you using technology to boost climate resilience in frontline communities? Apply now for the Twilio.org Climate Tech Prize! The Twilio.org Impact Fund is investing $1 million in five entrepreneurs or organizations creating climate technology solutions that tackle immediate and long-term challenges, including migration and displacement. Deadline to apply: August 14th.

📅 Founders and Investors Happy Hour: RSVP to join other climate founders and investors for an evening of connectivity and networking hosted at 9Zero on August 15th in SanFrancisco.

📅 Greentown Labs EnergyBar: RSVP to join the Greentown Labs signature EnergyBar networking event in collaboration with MassMutual Ventures on August 15th to network with entrepreneurs, investors, corporate leaders and others in the climate tech ecosystem.

📅 Climatebase Fellowship: Apply to be a part of the 6th cohort of the Climatebase Fellowship by August 16th to join other mission driven professionals in advancing your climate career or launching a startup.

💡 Building Tech Lab: Apply for the inaugural cohort of the Buildings Tech Lab by September 20th to pilot your growth stage building decarbonization startup with the DOB and improve how it regulates construction and development throughout New York City’s five boroughs.

📅 OutRun CO2 Club: Register to join the ReGen Ventures and Planeteer Capital on September 23rd at the starting line of NY Climate Week 2024 to outrun CO2!