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Israel’s climate-technology investments are booming, even with international funding of climate-related companies.
These are the conclusions advanced in a joint report published last year by the Israel Innovation Authority and the Israel Innovation Institute PLANETech.
Climate technology includes companies engaged in technologies that reduce greenhouse gas emissions or reduce global warming and adapt to climate change.
PLANETech, a nonprofit innovation community, provided the updated numbers. Between 2018 and 2021, they forecast investment growth of 340 percent, which is 2.6 times the growth rate of global investments.
Uriel Klar, director of PLANETech at the Israel Innovation Institute. Photo courtesy of PLANETech
“The report we published shows that Israel’s climate technology investment growth is faster compared to global growth and Israeli high-tech,” said Planetech Director Uriel Klar.
“The data from the report confirms what we are seeing on the ground; there is a shift from traditional high-tech domains to climate technology startups and investments, a trend we expect to continue to grow in the coming year,” he added.
The field of alternative proteins is driving the highest investments in 2021. Carbon capture and sequestration are also gaining momentum with 12 startups and carbon management, risk and finance with 16 startups.
The updated report identified 694 climate-tech startups in Israel, an increase of 57 over last year.
In terms of the overall high-tech ecosystem in Israel, ClimateTech is gaining more market share with one in seven startups in the climate-tech field – increasing from 9% to 25% in just one year. In the year In the first half of 2022, 15 percent of high-tech investments are for climate technology (nearly $1.5 billion), a 50 percent increase over last year.
The updated report includes, for the first time, a list of climate-tech “unicorns,” private companies valued at more than $1 billion: Veeve, Wiliot, Auguri, Optibus, Via and Stardot.
Planetech released the updated report ahead of the global climate-technology conference https://www.planetech.org/planetech-world in Tel Aviv on September 21, which will host 1,500 participants and showcase 100 climate-technology startups in five zones – built environment, materials and manufacturing, Land use, nature and digital.
The conference will advance the goal of “connecting Israeli technology with climate,” Klar said.
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