The Climate Pledge Fund – Amazon’s corporate venture capital fund – invests in an array of companies that support the multinational technology giant’s commitment to meet The Climate Pledge. Amazon has so far supported 18 companies spanning various industries, including Rivian, Redwood Materials, Turntide, CarbonCure, Pachama, Infinium, ZeroAvia, BETA Technologies, ION Energy, CMC, Resilient Power, Hippo Harvest, Amogy, Ambient Photonics, Brimstone, Verne, and most recently hydrogen companies Electric Hydrogen and Sunfire. These companies develop solutions that can help Amazon reach net-zero by 2040 and work in fields such as transportation and logistics, energy generation, storage and utilization, manufacturing and materials, circular economy, and food and agriculture.
Amazon co-established The Climate Pledge in 2019 with the aim to reach net-zero carbon emissions by 2040, or a decade earlier that the Paris Agreement’s requirement. Over 300 signatories have joined the pledge since, including Best Buy, IBM, Microsoft, PepsiCo, Siemens, Unilever, Verizon, and Visa.
Amazon has set a goal to power its operations with 100% renewable energy by 2025, and is committed to its Shipment Zero initiative, which aims to reach 50% net-zero shipments by 2030. The company has also purchased 100,000 electric delivery vehicles.
“To curb the climate crisis, we need to continually develop innovative solutions that can scale, whether it’s through the electrification of electric vehicles, investments in nature-based solutions, a decarbonized electric grid, or increased production of green hydrogen,” said Kara Hurst, vice president of Worldwide Sustainability at Amazon. “We are proud to be investing in visionary companies like Electric Hydrogen and Sunfire that are developing vital technology for the deployment of green hydrogen to help decarbonize hard-to-abate sectors.”
Green hydrogen is a promising solution to the decarbonization of heavy emitters and can play a crucial role in climate change mitigation.
Sunfire is a global leader for industrial electrolyzers – a device that produces hydrogen by splitting water into hydrogen and oxygen using electricity. The company, which was established in 2010, has a team of 400 people in Germany and Switzerland.
Electric Hydrogen builds a new generation of electrolyzer technologies that bring high-efficiency, low-cost clean hydrogen.