“51 billion tonnes CO2 emissions to zero. In 30 years. That is the world’s biggest challenge, the world’s fastest-growing market, and the challenge we all need to solve. This is the reason we are launching this new accelerator program together with Lundin Foundation,” says Nina Heir, CEO at Katapult Accelerator and Katapult Climate.
The new accelerator program is taking on this massive opportunity and will be focusing solely on climate tech companies targeting solutions to drive the energy transition and reduce its impacts. Focus areas will include renewable energy, smart cities, industries and clean mobility, carbon capture, reduction and storage, and new frontiers such as digital technologies.
“Responding to the pressures of climate change is one of the most pressing challenges of our time — we believe in the power of entrepreneurs to find and scale the most ground-breaking solutions. We are extremely proud to join forces with Katapult to propel the next frontier of climate-tech entrepreneurs through the Climate Accelerator” says Erin Johnston, Managing Director, Lundin Foundation.
For the next couple of months leading up to the start of the accelerator program, Katapult and Lundin Foundation are on the hunt for outstanding climate tech startups to join the online accelerator program. Through the program, each selected company will receive an investment from the Katapult Climate Fund ranging from 150K – 400K USD, access to an extensive mentor and partnership network and will participate in a tailor-made hands-on program that will aim to scale their businesses and ensure they are investor-ready for raising more capital in the future.
Katapult is a global investment and accelerator vehicle-based in Oslo, Norway that aims to fast-track solutions to global problems. Katapult has over the last 4 years evaluated more than 12.500 startups, and invested in and accelerated 90 startups from 32 different countries through its verticals Katapult Accelerator (general impact tech) and Katapult Ocean (ocean tech). As a system, Katapult is also adding 30 direct impact investments to its portfolio.
In 2021, Katapult launched a new themed vertical called Katapult Climate. Katapult Climate aims to become the leading force for start-ups and investors addressing the climate challenge. Katapult Climate comprises accelerator programs, climate funds and mentorship offering the expertise of leading industry experts. The Climate Accelerator program is launched in partnership with Lundin Foundation.
Lundin Foundation is supporting Lundin Energy in investing in the transition to a more sustainable and lower carbon future. As a key part of Lundin Energy’s Decarbonisation Strategy and commitment to carbon neutrality from 2025, the Foundation’s mandate is to support high potential, early-stage businesses that advance zero and low carbon innovations at scale. The Foundation receives an annual financial contribution from Lundin Energy to make impact investments into such businesses and to provide funding and strategic guidance to accelerator programs that encourage the growth of sustainable innovations.
Lundin Foundation is an experienced impact investor with over 10 years’ track record of investing in the renewable energy sector. The Foundation has supported programs and start-up businesses all over the world with over $73M in funding. In 2020 alone, the Foundation’s investments and programs helped 750 small businesses generate over $20M in revenue and leverage additional $15.7M USD in third party funding. Lundin Foundation is proud to support the next generation of climate tech start-ups through the Climate Accelerator Program.