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Canadian Wildfires Envelop Large Swathes of East Coast
As smoke from Canadian wildfires has enveloped large swathes of the East Coast, millions of people have found themselves trapped inside, gazing out on orange skies and hazy cityscapes. The air quality index — which is usually ignored — has suddenly become an object of fascination and source of small talk.
The situation is reminiscent of what happened on the West Coast three years ago when the skies turned a sinister hue and people rushed to seal their windows and buy air purifiers. Climate tech startups arose out of this crisis and investors should now prepare themselves for a similar wave next year.
The Impact of Wildfires on Startup Founders
A number of founders have told + that the apocalyptically orange skies of the 2020 West Coast wildfire season played a large role in their decision to quit their previous jobs and start companies, focusing efforts on addressing the climate crisis.
Preparation for Increased Demand for Climate Tech Startups
The Canadian wildfires and ensuing air pollution are just the latest example of the type of event that causes entrepreneurs to rethink existing infrastructure, funding initiatives, and startups focused on climate change solutions. As a result, there may be an increased demand for climate tech startups in the coming years. Investors should prepare themselves by familiarizing themselves with these types of companies in order to spot opportunities for investment.
Existing Climate Tech Startups
There are a number of climate tech startups currently available, including:
- CarbonCure: focuses on reducing emissions in the concrete industry through recycling carbon dioxide.
- WasteCore: develops technology to recycle building materials and waste for use in construction.
- Chakr Innovation: converts carbon from diesel exhaust into ink.
- Loop Energy: creates hydrogen-powered fuel cells as an alternative to traditional diesel engines.
A Final Note on Climate Tech Startups
As the frequency and severity of wildfires, natural disasters, and other climate-related events increase, so too will the need for innovative solutions to combat the climate crisis. Investors who understand the importance of these challenges will be in the best position to identify and support the most promising climate tech startups.
FAQs
What are climate tech startups?
Climate tech startups focus on finding innovative and sustainable solutions for climate change and its impacts.
What causes an increase in climate tech startups?
Events like frequent wildfires and natural disasters cause entrepreneurs to rethink existing infrastructure, funding initiatives, and startups that focus on addressing climate change.
Why should investors look into climate tech startups?
Investing in climate tech startups is not only an opportunity to support innovative solutions to pressing environmental issues, but it is also an opportunity to be at the forefront of the next big market trend.
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