The Climate on Monday: Green Climate Fund’s record mandate, Crosstown’s innovative hydrogen retrofit, and more Podcast By cover art

The Climate on Monday: Green Climate Fund’s record mandate, Crosstown’s innovative hydrogen retrofit, and more

The Climate on Monday: Green Climate Fund’s record mandate, Crosstown’s innovative hydrogen retrofit, and more

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 Green Climate Fund approves record $1.2 billion for climate projects in developing nationsThe Green Climate Fund has approved a record $1.2 billion for 17 new climate projects, mainly in Asia and Africa, to help vulnerable nations adapt to and mitigate climate change, Reuters reports. The investments include $227 million for green bond markets and $200 million for green finance in India. UN development summit endorses innovative taxes and finance tools to boost global climate fundingAt a UN conference in Spain last week, 192 countries adopted the “Sevilla Commitment,” backing new climate finance tools such as taxes on the super-rich, levies on polluting transport, and debt swaps, Climate Home News reports. UK launches first onshore wind strategy to double capacity and create 45,000 jobs by 2030The UK government has unveiled its first-ever onshore wind strategy, aiming to nearly double capacity to 27–29 GW by 2030 and create up to 45,000 skilled jobs, according to a statement from the UK’s department of energy security and net zero. Global EV and battery investment surges, but China’s overcapacity and policy shifts challenge industryGlobal investment in electric vehicles (EVs) and batteries is booming, with China leading in manufacturing and sales due to strong state support and a vast domestic market, according to a recent report from the Rhodium Group.Europe is rapidly adopting EVs, relying heavily on imports, especially from China, while the US faces uncertainty as potential policy rollbacks threaten its growing domestic industry. Crosstown raises $3.8 million to retrofit Europe’s gas turbines for hydrogenSwiss startup Crosstown has secured CHF 3 million ($3.8 million) in seed funding to scale its patented H2R Burner technology, which enables existing gas turbines to run on 100 percent hydrogen or mixed renewable fuels. New Climate Tech Readiness Index ranks industries on real-world climate technology adoptionClimate Insider has launched the Climate Technology Readiness Index, assessing how prepared emissions-intensive industries — like oil & gas, chemicals, and power — are to actually adopt and scale climate technologies, the climate tech industry media and market intelligence provider said in a recent post.AI-powered robots replace farm hands and herbicides, offering sustainable weeding solutionsAigen, a US startup, has developed a solar-powered, AI-driven robot that autonomously removes weeds from fields, addressing labour shortages and herbicide resistance, according to an AFP report that was picked up by the Economic Times.Other headlinesTether has partnered South American agribusiness Adecoagro to launch a renewable energy-powered Bitcoin mining project in Brazil, using Adecoagro’s surplus clean energy to stabilize revenue and gain exposure to Bitcoin’s value. AB Science has received FDA and EMA approval to begin a confirmatory Phase 3 trial of masitinib for metastatic castrate-resistant prostate cancer, using biomarker-driven patient selection for those most likely to benefit. Israeli quantum startup QEDMA has raised $26 million in Series A funding, with IBM joining as a new investor, to develop software that reduces errors in quantum computing and advances practical quantum advantage. Japanese eVTOL manufacturer SkyDrive has secured ¥8.3 billion ($58.9 million) in pre-Series D funding from major investors including Suzuki and railway companies to accelerate certification and infrastructure for its air mobility solutions. AST SpaceMobile has secured an additional $100 million in non-dilutive equipment financing to support its accelerated manufacturing and network deployment for space-based cellular broadband.MaxVolt Energy has acquired land in Aligarh, Uttar Pradesh, to establish a lithium-ion battery recycling facility with a projected annual capacity of 5,200 metric tons, supporting India’s clean energy and circular economy goals. Lamark Biotech, an Indian biopharma startup, raised ₹6.5 crore in a pre-Series A round led by IAN Group to advance its thermostable insulin program and expand its biologics platform. Zoho Corp has expanded its R&D presence by opening a new campus in Kottarakkara, Kerala, and acquired local startup Asimov Robotics to boost its robotics and automation capabilities. Fractal Analytics is preparing to file draft papers by mid-August for a $500 million IPO on the Mumbai Stock Exchange, aiming for a $3.5 billion valuation and further expansion of its AI-powered data solutions business.Also listen to:India Tech Report: In Conversation Subscribe to my newsletter:India Tech Report
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