Israeli Climate Tech Startups Secure $1.3M in Climate Solutions Prize Awards

Jerusalem, 3 March, 2024 (TPS) -- Israeli climate tech startups clinched a remarkable $1.3 million in awards as part of the startup track of the Climate Solutions Prize.

“Israel is extremely well-positioned to take a central role in battling climate change and bringing solutions to the biggest shared challenge of our times. The initiative provides access to investment, partnership opportunities with global Multinational Corporations, and exposure to global solution seekers, to promote scalable, sustainable solutions to pressing environmental challenges,” said Avi Hasson, CEO of Startup Nation Central.

SNC spearheaded the prestigious awards in collaboration with the Climate Solutions Prize Organization to address climate change.

The winners, including notable companies such as Filo Systems, Electriq, Biotic, and Nemo Nanomaterials stand out for their cutting-edge solutions to environmental challenges. Filo Systems received Capital Nature’s flagship Equity Investment of $1 million for its data compression engine, promising substantial reductions in energy consumption and cooling costs for data centers globally.

“It is vital that we mobilize and inspire the best efforts and best minds so that we can proudly leave a better world for future generations to come. With the objective of channeling Israel’s ingenuity to tackle one of the biggest challenges of our times, the Climate Solutions Prize is the largest enticement prize in Israel’s history,” Jeff Hart, Executive Chair of the Climate Solutions Prize, stressed the significance of Israel’s innovation.

The winners span diverse challenges posed by partners such as Capital Nature, Temasek Foundation, E.ON, Italgas, Takeda, and Continental. From renewable heat generation to innovative hydrogen carriers, each startup addresses a specific facet of the climate crisis, contributing to a more sustainable future.

“We are very excited, about winning this prize,” Adi Goldman, CEO and co-founder of Biotic told Tazpit Press Service. “The challenge was about bringing new materials to the automotive industry, at Biotic we develop and produce bio-based material that can replace multiple types of plastic. We look forward to making a proof of concept with Continental.”

Biotic’s innovative approach aligns with Continental’s ambitious goal of attaining 100% carbon neutrality and emission-free mobility by 2050.

“First of all, we are looking forward to cooperate with the Prize sponsor – Italgas,” Jonathan Antebi, co-founder and VP Business Development at Nemo Nanomaterials told TPS.

“We are sure that this recognition will help us in completing our next investment round as our investors value our contribution to the environment very much. We have already received several inquiries from potential customers and partners that were impressed by this accomplishment,” Antebi added.

Nemo Nanomaterials has secured the prestigious award for the Italgas’ Decarbonizing Energy Distribution Infrastructure Challenge. Its efforts match the objectives outlined in the EU’s Green Deal targets, as their nanotechnology solutions are designed to elevate the performance of various industrial materials and products, marking a significant stride towards sustainable energy practices.

The collaborative tactic between startups and corporations as seen in the initiative, strives to close the gap between startup culture and corporate environments in order to provide the most innovative solutions.