Let's explore the latest developments in the European circular economy for October! 🔄 We'll delve into the exciting updates together!♻️🧐
Norwegian cleantech company Ocean Oasis secured a €6 million EU grant to support its sustainable desalination technology, which uses offshore platforms to convert seawater into freshwater. This funding, part of the EU’s Horizon Europe program, will accelerate the development of Ocean Oasis's innovative approach to freshwater production, emphasizing renewable energy and reducing environmental impacts associated with traditional desalination. 🌊♻️
OroraTech, a German space-tech startup, recently secured €25 million in a Series B funding round. This funding will support the company’s wildfire monitoring and prediction system, primarily by expanding its satellite network to provide critical data during peak wildfire periods. The expansion will involve the launch of nine additional satellites in 2025, boosting OroraTech’s coverage and providing faster, more frequent updates on wildfire activity in high-risk regions such as North America and Asia-Pacific.🔥🌳
We are excited to support our new portfolio company in advancing sustainable innovation. Together, we’re enabling impactful solutions that address global challenges and promote resilience, creating a meaningful pathway toward a more sustainable future. 💚
FarmDroid, a Danish agricultural technology company, has raised €10.5 million to expand its autonomous, solar-powered field robots globally. Led by Convent Capital and joined by EIFO and Navus Ventures B.V., this funding will support FarmDroid’s mission to enhance sustainable agriculture by reducing farmers' dependency on pesticides, manual labor, and operational costs. The FarmDroid robot, designed to sow, weed, and spray autonomously, uses solar energy to operate 24/7. It has primarily served organic farms but is increasingly attractive to conventional farms due to new precision spraying technology, helping reduce pesticide usage by up to 100% in certain cases. 🌾
Valencia-based cleantech company Matteco has secured €15 million to advance green hydrogen production by developing affordable, platinum-free electrolysis materials. This investment, led by European investors, will fund a new facility in Paterna, producing components to enable 1 GW of electrolysis annually. Matteco’s technology aims to cut hydrogen production costs, making green hydrogen more competitive with fossil fuels. The company, which emerged from the Universitat de València, plans to increase its workforce to support global demand.💧
#sustainability #venturecapital #circulareconomy
Thanks for sharing!