In today’s ESG news roundup, we highlight key clean energy and climate tech advancements. Discover Google’s nuclear energy deal with Kairos Power, BrightNight’s $260M solar project in Arizona, Diagram’s $80M ClimateTech fund, and Scope3’s $25M effort to reduce AI’s environmental impact.
Google signs historic nuclear clean energy deal with Kairos Power
In a bold move, Google has announced the world’s first corporate agreement to purchase nuclear energy from multiple small modular reactors (SMRs) developed by Kairos Power. The partnership will bring Kairos Power’s first SMR online by 2030, followed by additional reactors through 2035. This will supply up to 500 MW of 24/7 carbon-free power to U.S. grids. Furthermore, Google is investing heavily in the new generation of nuclear power plants that are smaller and inherently safer.
***
This news is referenced from: New nuclear clean energy agreement with Kairos Power
BrightNight secures $260M for 300MW solar project, advancing Arizona’s renewable energy transition
BrightNight has secured $260 million in financing from J.P. Morgan and Capital One for its 300MW Box Canyon solar project in Arizona, advancing the state’s energy transition. This financing deal is designed to maximize tax benefits, attracting private investors. The project is part of a 2GW portfolio jointly owned with Cordelio Power and will produce over 900,000 MWh annually. The Goal is to Power 77,000 homes by 2025. The Box canyon solar project showcases BrightNight’s ambitious strategy to drive the energy transition by reducing carbon emissions and promoting sustainable energy solutions.
***
This news is referenced from: BrightNight Raises $260M for a 300MW Solar Project in Arizona
Venture builder Diagram surpasses target and launches new ClimateTech Fund at $80 million
Diagram, a venture builder backed by Sagard, has closed its ClimateTech Fund at $80M, surpassing its $60M target in a difficult fundraising climate. The fund, targeting early-stage ventures, focuses on capital-efficient digital solutions to accelerate sustainability. Two companies have already been launched: ReliON, an EV charging infrastructure software provider, and Lyteflo, focused on EV battery health solutions. Co-led by sustainability experts Amélie Foz-Couture and Paul Manias, the fund aims to foster innovations addressing climate change while leveraging Diagram’s venture creation model to mitigate early-stage risks.
***
This news is referenced from: Diagram ClimateTech Fund Announces Final Close at $80M, Reaching Hard Cap
COP29 leaders agree to aim for ‘hundreds of billions’ in climate finance
At the upcoming COP29 climate summit in Baku, leaders acknowledge that while “trillions” are needed to address climate change, “hundreds of billions” is a more realistic funding goal for a consensus agreement. Negotiators aim to replace the current $100 billion annual commitment from wealthy nations to developing countries with a more ambitious target. With global temperatures rising and 2024 set to be the warmest year on record, over 100 world leaders are expected to attend, pushing for greater climate finance and action to meet the urgent challenges of global warming.
***
This news is referenced from: Climate change finance could land at ‘hundreds of billions’, COP29 leaders say
Scope3 Secures $25 million to tackle climate impact of the AI industry
Sustainability platform Scope3 has raised $25 million to expand its focus on reducing the climate impact of the AI industry. Founded in 2021, Scope3 initially focused on decarbonizing media and advertising by offering tools to measure and reduce carbon emissions within the advertising ecosystem. After the funding round led by Google Ventures (GV), the company aims to help businesses lower their carbon footprints as AI technology becomes more integrated with the media industry. Along with the funding announcement, Scope3 released an open-source AI methodology to track the environmental impact of AI products and services. Another possible option to track the environmental impact of companies and their products is an ESG reporting software.
***
This news is referenced from: Scope3 Raises $25 Million in Funding
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Frédéric Paulussen
