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| Amazon's investments in climate technology companies |
Big tech companies are starting to pay more attention to the climate space, including Amazon. The company has announced that it will invest $2 billion in climate technologies with the primary goal of achieving complete decarbonization by 2040.
Amazon believes that this goal can only be achieved by relying on new technologies developed by startup companies specializing in this field. These investments come directly from Amazon and become a dedicated mutual fund.
The fund was first announced in June of last year, and Amazon believes the success of its investment could lead to the emergence of pioneering companies like Tesla. Amazon investment is unlimited. Here, fund manager Matt Peterson stated that some companies have received up to $100 million in investment.
Amazon isn't just investing in climate technology. In fact, private investment in this area increased from $6.6 billion in 2016 to $32.3 billion in 2021, according to a recent report.
A few days ago, Amazon announced its stake in the new companies Resilient Power, CMC Machinery and Infinium. Previously, he invested in companies like CarbonCure, Pachama, Redwood Materials, Rivian, TurnTide Technologies, BETA Technologies, Ion Energy, etc.
Amazon's investments in climate technology companies
Amazon is now accepting investment inquiries. These investments aim to provide solutions to problems in various fields. Including food and agricultural investments. In fact, advances in these areas will reduce fuel consumption and emissions of carbon dioxide and methane.
Investments also include companies that are active in the field of electrification. The company also announced plans to purchase 100,000 fully electric vehicles. Amazon's investment in Resilient Power supports this. Here the company is committed to developing electric vehicle charging technology.
The investment also includes green hydrogen, which is extracted from water in a process known as electrolysis. This is an area in which more than one commercial investment company is accepted.
In addition, Amazon is also interested in other important areas with its investments. This includes long-term energy provision as part of sustainable development efforts, particularly through energy storage technology. Investment also includes areas such as raw materials and recycling.