360 Capital Raises 140 Million Euros to Fund Environmentally Friendly Technologies
Key Ideas
- 360 Capital raises 140 million euros for 360 Life II fund focusing on renewable energy, hydrogen, and pollution reduction.
- The fund aims to address climate challenges highlighted by the record heat in 2024 and the $300 billion annual financing commitment to tackle climate change.
- Italian companies A2A and De Nora, along with France's Bpifrance, have made significant investments in the climate tech fund.
- De Nora CEO emphasizes the importance of innovation in combating climate challenges.
European venture capital firm 360 Capital announced the successful raising of 140 million euros for its 360 Life II fund, dedicated to investing in environmentally friendly technologies. The fund will prioritize areas like renewable energy, hydrogen, and pollution reduction. This initiative is crucial in light of the urgent need to address climate change, with 2024 projected to be the hottest year on record. The recent COP29 summit's agreement to allocate $300 billion annually by 2035 for climate change mitigation has received mixed reviews, with some critics deeming it insufficient. Notable investments in the fund include 40 million euros from Italian company A2A and 10 million euros from De Nora, a leading electrochemistry firm. Additionally, France's Bpifrance has also contributed to the fund. De Nora CEO Paolo Dellacha highlighted the significance of embracing innovation to combat the climate challenges our planet is currently facing, underscoring the importance of such initiatives in the fight against environmental issues.