Amazon, a Nasdaq-listed retailer, has picked the first recipients of investments from its $2bn Climate Pledge Fund.
The Climate Pledge is a commitment to be net-zero carbon by 2040.
The first five companies for the fund are:
CarbonCure Technologies, a portfolio of carbon removal technologies that consume carbon dioxide (CO2) in concrete;
Pachama, a climate technology company verifying the impact of carbon capture in the world’s forests;
Redwood Materials, which is developing and commercialising a full process and suite of technologies for recycling end-of-life lithium-ion batteries and e-waste into high value metals and chemicals and earlier this year raised about $40m from investors lead by Capricorn Investment Group and Breakthrough Energy Ventures;
Rivian, a maker of electric vehicles backed with $2.5bn; and
Turntide Technologies, whose motors reduce energy use by 64% on average by optimizing efficiency and control and has raised $103m since its founding in 2013, chairman and CEO Ryan Morristold Crunchbase News, including the latest $33m round, which included Tony Fadell’s Future Shape, Meson Capital, BMW iVentures, JLL Spark, and WIND Ventures.
Jeff Bezos, Amazon founder and CEO, said: “We are investing in a group of companies that are channelling their entrepreneurial energy into helping Amazon and other companies reach net zero by 2040 and keep the planet safer for future generations.”
