Climate Tech Companies – The Ones Leading the Charge
Tech is often defined as the future, but the future itself can be split into many categories. Blockchain, for example, is tech that could be utilized in the financial sector for the future, making many fintech startups incorporate it into their business. Cloud computing and software is shaping our future as to how we store things due to things moving digitally. However, it’s clear that the biggest thing the future holds for us is the pressing issue of climate change, and if tech is the future there must be something addressing it.
The demand for climate change has created a group of companies deemed as climate tech companies, utilizing technological innovations to help the fight against climate change. As there is no consensus policy from the government, all eyes have been on the private sector to see what they can do.
The largest climate tech company, to nobody’s surprise, is Tesla. Worth $1 trillion at its peak before CEO Elon Musk made questionable decisions outside the company, they have used tech to lead the electric vehicle industry with their well-known Tesla cars and superchargers. Not only this, but Tesla also develops other tech like solar panels, and as the father of the industry they have spent a lot of money investing in climate tech. Musk and Tesla have put $9 billion in climate tech startups.
It’s not just limited to EVs though, with First Solar being one of the largest climate tech companies. First Solar utilizes photovoltaic technology in their solar panels, increasing their output and maximizing efficiency of an energy source that the world is looking into. First Solar, being an $18 billion company, has invested into climate tech startups too, showing support for this growing industry.
Many more of these companies, like Daqo Energy, Plug Power, and Dragonfly, all have importance in the fight against climate change, and you can find them on the Invstr app!
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.