The Climate Pledge Fund
We know that substantial investment is needed to develop solutions that will facilitate the transition to a low-carbon economy. The Climate Pledge Fund is a $2 billion venture investment program supporting the development of sustainable technologies and services that will enable Amazon to meet our net-zero carbon goal.
The Climate Pledge Fund invests in companies across multiple industry sectors, with an initial focus on:
- Transportation and logistics
- Energy generation, storage, and utilization
- Manufacturing and materials
- Circular economy
- Food and agriculture
In 2021, Amazon invested in the following companies and initiatives to accelerate sustainability progress.
Amogy is developing a system to convert green ammonia to power that will be emission-free at the point of use. With the potential to become one of the first scalable ammonia-to-power systems, Amogy’s technology carries enough energy density to support long-distance transportation such as cargo shipping. This would be a significant step in helping decarbonize the main transportation mode for global trade. Amogy’s technology also has future implications for Amazon’s own decarbonization goals, including those set by The Climate Pledge.
Hippo Harvest is an agricultural company using plant science, machine learning, and robotics to grow leafy greens and other produce in greenhouse environments. Hippo Harvest’s technology addresses the emissions and waste that result from traditional produce farming. These include fertilizer and land use, transportation, and landfill methane from wasted produce, which account for roughly 30% of the emissions from crops grown for human consumption. The greenhouse system can be deployed almost anywhere, allowing produce to be grown closer to consumers. This cuts down emissions from produce transportation and increases the shelf life of fresh produce by up to five days. As a grocery retailer, Amazon is committed to supporting new produce solutions like those offered by Hippo Harvest as we grow our product offerings at our Amazon Fresh and Whole Foods Market stores.
Resilient Power (RP) builds efficient and effective transformer-based EV charging technology. RP’s technology enables EV fast-charging infrastructure to be built at one-tenth the size and installation time of traditional charging technology, and is capable of charging up to 24 vehicles at a time without requiring expensive distribution grid upgrades. RP’s technology has the potential to help Amazon meet our goal of deploying 100,000 Rivian electric vans by 2030, by ensuring that vehicles can be quickly recharged to support delivery of customer packages.
On Amazon News
Infinium is a renewable electrofuels solution provider that focuses on converting captured carbon dioxide and hydrogen feedstocks into net-zero carbon fuels for use in today’s air transportation, marine freight, and heavy truck fleets. Infinium electrofuels have the potential to enable organizations to meet their carbon-reduction goals by accelerating the transition away from fossil fuels.
CMC Machinery designs and manufactures custom-sized boxes tailored to the dimensions of the items in each order. This technology lowers or removes the need for single-use plastic padding while still protecting items during shipping. Amazon expects that by the end of 2022, this technology could reduce the cubic volume of the boxes we use for package deliveries by 24% on average, and the technology is projected to reduce our use of approximately 1 billion plastic air pillows by the end of 2022.
On Amazon News
BETA Technologies is reshaping air transportation with an electric vertical takeoff and landing (eVTOL) aircraft. This aircraft, called the ALIA, can carry three cargo pallets, or up to six people, for zero operational emissions delivery of cargo, medical supplies, or passengers. Amazon’s investment in BETA Technologies advances our path to zero-emissions package delivery and builds on our previous investment in ZeroAvia, the developers of hydrogen-electric aviation solutions.
ION Energy develops software to improve the life and performance of lithium-ion batteries that power EVs and energy-storage systems. ION works with more than 75 customers in the mobility and energy industry across 15 countries, including India, France, Spain, and the U.S. We believe that ION’s mission to improve the life and performance of lithium-ion batteries will ultimately scale solutions that help us all achieve our ambitious climate goals.
Collaborating to Accelerate Innovation
In 2021, The Climate Pledge Fund joined Greentown Labs, the largest climate tech startup incubator in North America. The Climate Pledge Fund’s engagement with climate tech startups will help accelerate the transition to a low-carbon economy.
The Climate Pledge Fund also joined Elemental Excelerator’s Scale-Up Program. Together, Elemental Excelerator and Amazon are working to accelerate a pathway to decarbonization that mitigates the impact of climate change more quickly and equitably.