At a critical moment for early-stage clean tech startups, TELUS is stepping up with three investments that will strengthen climate resilience with agricultural technologies to sequester carbon, plant-powered alternatives to plastic and cleaner energy solutions
VANCOUVER, British Columbia, Oct. 27, 2023 (GLOBE NEWSWIRE) — TELUS Pollinator Fund for Good is participating in three new funding rounds of US$20 million, US$6.5 million and US$4 million respectively with equity investments in clean technology startups, Climate Robotics, erthos™ and Plentify. Houston-based Climate Robotics is leveraging advanced robotics and AI to help sequester carbon while improving the health of our agricultural soils. Based in Mississauga, erthos is leading the charge to address the global plastic pollution crisis with a plant-based resin alternative to traditional plastic. Finally, Plentify is a smart energy company located in South Africa and the United States that uses AI and IoT technologies to connet household appliances to cheaper, cleaner and more reliable energy. These new investments bring the number of impact startups supported by the Pollinator Fund to 30.
“As a global leader in sustainability, TELUS’ readiness and capability to swiftly deploy capital to help scale clean tech innovations will contribute to promote adoption of zero-emission solutions,” said Blair Miller, Managing Partner, TELUS Pollinator Fund. “That’s why the Pollinator Fund is investing in Climate Robotics, erthos and Plentify: to play an active role in sequestering CO2, solving the plastic crisis and addressing the global pressure on electricity grids, thereby contributing to climate resilience and the circular economy.”
Climate Robotics: helping farmers store planet-warming carbon in fields
Climate Robotics leverages technologies to sequester carbon emissions from agricultural crop residue by safely storing them in the ground. The startup leverages biochar, a powerful soil amendment technology that ha high carbon sequestration capacity and also provides notable agricultural benefits, allowing crop farmers to reduce their use of chemicals while improving soil nutrient and moisture retention. However, biochar is expensive and out of reach for many farmers. The Pollinator Fund’s investment will help Climate Robotics scale its robotic and AI technology which helps convert waste generated on farms into biochar and re-applies it back onto agricultural lands to improve soil health. This approach dramatically reduces the cost of biochar production and makes it more accessible to farmers while delivering high-quality carbon credits.
