Investors Express Intent to Allocate AED62 Million towards Green Tech at Climate Innovations Exchange 2020

Platform receives total investment intent of AED310 million in three installments since launch in 2018

 

Abu Dhabi-UAE: 19 January, 2020 – Around 62 percent of investors at the just-concluded Climate Innovations Exchange 2020 (CLIX 2020) expressed their intention to commit to investment opportunities collectively valued at AED62 million, according to an independent survey conducted by GRS Strategy and Research. This takes the total amount committed by way of investment pledges since the first edition of CLIX in 2018 to AED310 million.

Hosted by the Ministry of Climate Change and Environment (MOCCAE) at the World Future Energy Summit, CLIX 2020 featured 42 innovations, carefully handpicked from a record 1,402 applications received from 128 countries.

Engineer Fahed Al Hammadi, Acting Assistant Undersecretary for the Green Development and Climate Change Sector at MOCCAE, said: “Yet again, CLIX has fulfilled its mission of connecting entrepreneurs and investors to deliver sustainable solutions that will impact us all. The success of CLIX demonstrates that the world has embraced innovation as the most effective tool in tackling climate change. More importantly, it has realized that young people form the backbone of the environmental sustainability movement.”

He added: “CLIX has grown remarkably over the past three editions. The number of displayed innovations surged from 27 in 2018 to 42 in 2020, with the combined intent to invest amounting to AED310 million.”

The World Future Energy Summit named the most innovative sustainability startups at CLIX 2020 across four categories:

  • In the Future of Energy category, the winner was Liquidstar from Hong Kong for its ‘Sun Bucket’ miniature power walls.
  • In the Future of Food and Agriculture category, the winner was PlasticFri from Sweden for its plant-based, non-toxic material that would replace plastics.
  • In the Future of Mobility category, the winner was Ampaire from the United States for its hybrid electric plane.
  • In the Sustainability in Space category, the winner was Satlantis Microsats from Spain for its space imagers.

Grant Tuchten, Group Event Director, World Future Energy Summit, said: “Celebrating our winners at CLIX every year is a major milestone for the World Future Energy Summit and enables the world’s most innovative sustainability startups to transition to the next stage in going to market through winning recognition in front of a global audience. We are already encouraging startups to apply for CLIX 2021, which will provide an even more exciting roster of opportunities to source funding, network with peers, and create interactive showcases for the World Future Energy Summit’s global audience."