A reality of innovation graduating from concept to commercialization is funding. And where technology and environmental or climate solutions intersect, venture capital (VC) investments are surging.
Cipher, another recently launched publication with roots in Seattle, reported that almost $30 billion has been invested so far this year into climate tech globally. That’s up from about $6 billion five years ago. 🤑
One of my colleagues at GeekWire, the Seattle tech news site where I work, dug into these trends specifically in the Pacific Northwest. Her reporting found that climate tech startups in Washington, Oregon, Idaho and British Columbia have raised more than $1 billion since 2020.
Some of the startups she featured have indirect but promising applications to the maritime sector such as batteries, carbon capture and new alternative energies.
Maritime-focused companies in the Pacific Northwest included in this trend are electric outboard maker Pure Watercraft and offshore power producer Columbia Power Technologies (C-Power), the latter is featured in the recent GeekWire article.