|

Promethean Energy raises $2 million to scale clean heat solutions in Asia

By

Promethean Energy has secured $2 million in a Pre-Series A funding round led by Transition VC. Other participants included Sangam Venture, Sagana Capital, and Fondation Botnar. The Mumbai-based clean technology company will use the funds to expand its product line, scale operations, and strengthen its presence across India and Southeast Asia. It also plans to build a national network of sales and service engineers. The company is developing an AI-powered platform for thermal energy optimisation…

|

India leads in clean-tech funding, surpassing China in Q3 2024

By

India has overtaken China as the top destination for clean-technology funding, with $2.4 billion in deals completed in Q3 2024, more than four times China’s total.  This marks the second-highest funding globally, following the US.  About a quarter of seed-stage investments in climate-related startups are now directed towards India.  However, challenges remain, as the country needs significantly more capital to meet long-term climate goals.  Despite this, the market is expected to boom as more solutions…

|

Elcogen secures €24.9 million EU grant for hydrogen tech expansion

By

Elcogen has been awarded €24.9 million from the European Union’s 2024 Innovation Fund to expand its production capacity for solid oxide electrolyser cell (SOEC) and solid oxide fuel cell (SOFC) components in Tallinn, Estonia.  This funding will enhance Elcogen’s role in advancing green hydrogen production and supporting the transition to green energy. The EU’s Innovation Fund allocated €4.8 billion across 85 projects in 2024, targeting a collective carbon reduction of 476 million tonnes over the…

|

Global energy efficiency improvements lag behind COP28 targets: IEA

By

One year after the COP28 pledge to double global energy efficiency by 2030, a report from the International Energy Agency (IEA) reveals that countries are falling short of this goal.  The IEA’s Energy Efficiency 2024 report shows that global primary energy intensity—a core energy efficiency metric—is set to improve by around 1% in 2024, the same rate as in 2023, far below the 4% target needed by 2030. At COP28, nearly 200 countries committed to…