XAnge investment fund launches Climate Fellowship for entrepreneurs
The French investment fund XAnge has just launched a €100 million fellowship to provide early-stage support to young entrepreneurs in the climate tech sector. Supported by Techstars and Energy Impact Partners, the programme aims to support entrepreneurs in developing their impact projects, no matter what their level of experience.
Each successful entrepreneur will receive €100,000 in equity, in exchange for a 7% stake in their company. During the one-year programme, the chosen entrepreneurs will receive support to help them find the right co-founders, get their startups off the ground and raise their first seed funds. Candidates will be chosen based on their passion for finding climate change solutions and not on the quality of their project or their experience. Season one will be launched in January 2023. Interested candidates have until 16 December 2022 to apply online.
Startup Paebbl raises €8 million in seed funding to develop carbon-negative construction materials
Founded in 2021 by Dutch scientist Pol Knops alongside three co-founders from the investment world and Scandinavian startups, Paebbl has just raised €8 million to bring its low-carbon construction material to market. The Swedish climate tech fund Pale Blue Dot, as well as the French fund 2050, and the American funds Grantham Foundation and Walerud Ventures all participated in the first round.
Its investors were convinced by the process developed by the startup: it combines silicate minerals with carbon captured at industrial sites, producing a powder that can be used in construction or to make paper. Paebbl is currently in the proof-of-concept phase, as the company is only able to produce one kilo a day of this new material at its pilot facility in Rotterdam.
The startup intends to use the funds raised to increase their production capacity. By the end of 2023, the founders believe they will be able to produce 300 kilos a day, before increasing production capacity by a factor of 10 every 12 to 24 months.
Mobile battery storage startup Moxion Power raises $100 million from Amazon and Microsoft
Moxion Power, a California-based startup specialising in clean, mobile energy storage technology, has recently received $100 million in Series B funding. Tamarack Global and Energy Impact Partners led the funding round, which features other investors including Sunbelt Rentals, Amazon’s Climate Pledge Fund, Microsoft’s Climate Innovation Fund, Enterprise Holdings Ventures, Marubeni Ventures, Suffolk Technologies and Rocketship.vc.
The funds will be used to increase the company’s production capacities at its first two manufacturing facilities, while developing new products for the film, entertainment, construction, public services and electric mobility sectors. Since it was founded in 2020, Moxion Power has been manufacturing mobile energy storage products and technologies which enable last-mile electrification in various industries, including construction and transportation.
As such, the company offers an alternative to the fossil-fuel burning generators upon which these industries have traditionally relied.