Young entrepreneurs and scientists working to save the planet

This week Current Climatewhich every Saturday brings you the latest news on the business of sustainability. Sign up to receive it in your inbox every week.

This week, Forbes released its annual 30 Under 30 Europe list, and as always, there were plenty of talented young people already making a name for themselves in the sustainability economy. For example, in the Social Impact category, there is Alisha Fredriksson28 and Rouiia Wen, 27, who founded Seabound, which creates carbon capture equipment for commercial ships. Then under Industry & Industry category, there is Nikola Cro27, and Clement Benassi, 27, whose company Néolithe converts non-recyclable waste into mineral aggregates that can be used in construction. And in the category Science & Health there is Stefan Grossfurthner27, and Ludovico Michener26, whose company Phycoworks is developing strains of algae that can convert carbon dioxide from the atmosphere into sustainable chemicals.

These are just some of the 30 Under 30 Europe list makers who worked in sustainable businesses. You can read more about them here.

The big read

The Deflation Act Is Very Good At One Thing: Making Billionaires Richer

The Lower Inflation Act, signed into law last August, appears intended both to create a new batch of green billionaires — and to further enrich existing ones. Between now and 2031, the bill calls for nearly $400 billion in grants, loans and tax breaks to take on the green energy revolution.

Read more here.

Discoveries and Innovations

More than 99% of the world’s population is exposed to unhealthy levels air pollutionaccording to a new study.

Fashion brand Tom Ford announced the winners of its annual Plastics Innovation Award, which recognizes companies developing sustainable alternatives to thin-film plastics.

A four-decade study finds that the amount of plastic in the ocean has skyrocketed since 2005 and that number continues to rise.

Sustainability Deals of the Week

Sustainable financing: Banyan Infrastructure, a startup that makes software that enables tracking of project financing for sustainable projects, announced that it has raised a $25 million Series B round led by Energize Ventures.

Real-time flood data: Floodbase, which provides near-real-time flood data and fkood risk analysis, announced that it has been selected by the Federal Emergency Management Agency to strengthen the government’s flood analysis capabilities.

SPAC Electricity: ZeroNox, which provides electrification infrastructure and other services for commercial and industrial vehicles, has announced it will go public through a merger with special purpose buyout firm Growth For Good.

Geothermal energy: XGS Energy, which develops geothermal energy technology, announced that it has secured $19 million in new funding, which will be used to further develop its technology.

On the horizon

There are already 100 trillion pieces of space junk orbiting the Earth, as more and more satellites are launched, the problem could get much worse. That’s why an international collaboration of scientists wrote this week to encourage policymakers to develop regulations that would prevent parts of Earth’s orbit from becoming potentially useless.

What else are we reading this week?

Don’t overlook faith in climate action (Religion News)

Artificial intelligence is booming—and so is its carbon footprint (Bloomberg)

A climate calculator is already here — for gardeners (Heatmap)

Green Transportation Update

doars, trucks and trains they are the largest source of carbon emissions in the US, accounting for more than a quarter. To reduce this, the country needs to target more than passenger vehicles. Commercial vehicles and large trucks should all get much cleaner over the years. This creates both a threat and a major opportunity for Cummins, the leading manufacturer of diesel engines and generators. The century-old manufacturer says it’s ramping up its clean-tech business, rolling batteries, electric truck parts and electrolytes that make “green” hydrogen from water and renewable energy into Accelera, a brand that CEO Jennifer Rumsey hopes will become a money machine by end of the decade.

The great history of transportation

Siemens boosts US passenger train production with $220 million plant in North Carolina

The Biden administration wants more Americans to travel by train and secure billions of dollars to boost Amtrak operations and expand and improve commuter rail. That prompted Germany’s Siemens to announce it is building a second passenger train factory in the US, a $220 million facility to open in North Carolina next year.

Read more here.

More green transport news

Regulatory upheavals involving public safety and the environment have high costs

‘EU funding must be geared towards the goal of doubling cycle lanes’, says EU Green Deal chief

YouTuber fights back against Elon Musk’s plans for a new city in Texas

The future may be rosy, but for now, JD Power says EV owners are less than happy with the service experience

Is Funky Cat Driving a Chinese Auto Invasion or an Invasion?

Shyft Expands Blue Arc EV Commercial Truck Line With Crew Cab Prototype

From Zero to 500+ Mile Charity Rides: Electric Bikes Enabled a Rider’s New Journey in Life

Building a Statewide Tolling Network: Q&A with Volunteer State Officials (Part 1)

Bikecam To Dashcam: Cyclist overlays bad driving footage with car interior to explore driver empathy

Ebike Maker Aventon Grows With New Aound Cargo Carrier

For more sustainability coverage, click here.

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