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Amazon’s Climate Pledge Fund has announced three new investments focused on reducing carbon emissions with the ultimate goal of reaching net-zero by 2040.
The e-commerce titan last week touted new partnerships with innovators involved in recycling, carbon storage and 3D printing. These ventures augment its CPF investment portfolio, which has funneled $2 billion into 31 sustainability technology companies since it was launched in 2020.
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One such startup is Molg, which aims to tackle the growing problem of “e-waste,” or trashed electronics, by creating a circular foundation for the autonomous assembly and disassembly of such products with robotic microfactories. The team works with leading electronics manufacturers to design products with the circular economy in mind, lending to the reuse of valuable parts and pieces that often end up in landfills.
Meanwhile, CPF has also opted to finance Paebbl, which creates carbon-storing building materials like concrete. Amazon Web Services (AWS) will use the company’s supplementary cementitious material in the construction of a European data center, which Amazon said will provide learnings about the material’s capacity for carbon capture in such applications.
CPF also named 14Trees as a funding recipient. Also engaged in the construction of low-carbon buildings, the 3D printing firm will use its technology to help build data centers, large buildings and utilities in Europe and the U.S.
Amazon said the purpose of CPF is to bolster the growth of climate-focused and environmental startups that can help it, and other companies, meet their climate goals.
Beyond the investments announced this week, the company has already incorporated the technology of five other CPF-funded firms into its operations, including Forum Mobility, which provides zero-tailpipe-emission trucking solutions for drayage in the state of California. The group builds both Class 8 electric trucks and operates the charging infrastructures needed to power them.
The company is now installing a network of charging depots around the Southern California ports of Los Angeles and Long Beach, as well as near the Port of Oakland in the Bay Area and along common truck routes to warehouse destinations. According to Amazon, the one-stop solution will help both large truck fleets and small operators to charge their electric trucks, allowing more electric vehicles to make their way onto the road and become a part of the logistics infrastructure.