Amazon continues investment in $2bn Climate Pledge Fund

Amazon has announced it is investing in three more start-ups as it continues to invest into its $2 billion climate pledge fund.

The fund, which was launched by the ecommerce giant last June, was set up in order to invest in technologies being developed from around the world to help stop climate change.

Amazon has invested in 11 companies across a number of different industries including manufacturing, energy and agriculture.

One of which is CMC Machinery, which produces boxes designed to fit the exact dimensions of a product in each order, eliminating the need for single-use plastic padding.

Another company, Infinium has created ultraslow carbon fuels that can be used in air transport, marine freight and heavy truck fleets as a direct alternative to current, fossil-based diesel and jet fuels that are used worldwide.

READ MORE: Over a million UK households receive Amazon parcels they never ordered

Amazon has previously said it has invested anywhere from hundreds of thousands to millions of dollars in the climate pledge fund start-ups, however declined to give specifics.

The company has also said that the $2 billion which has been earmarked for the scheme is merely an “initial commitment” and could grow.

Climate tech start-ups are gaining high levels of investment as the issue of climate change worsens around the world, raising $32 billion so far this year.

This figure has already exceeded the entirety of the investment received last year, according to Dealroom.

Amazon has also put its faith in electric vehicle start-up Rivian, which it hopes can solve its last-mile sustainability issue.

Click here to sign up to Charged free daily email newsletter

CompaniesNewsSustainability

RELATED POSTS

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.

Menu