Overshadowed by the rapid explosion of both technology use and innovation, the start of the digital age has also created a renewed emphasis on ECO-friendly efforts at all levels of the business world, as, once again, sustainability becomes an important factor for both enterprises and consumers. These changes, though possibly hard to tell at the surface level, can be quantitatively seen by the growth of environmental, social, and governance (ESG) standards, as well as net-zero programs.
ESG is a set of criteria leveraged to evaluate a company’s risks and practices. It is increasingly used by socially conscious investors and stakeholders, including employees, board members, customers, suppliers, and distributors, who want to know a business’s stance on socioeconomic factors and sustainability efforts. The shift in investor requirements has already sparked swift growth of ESG-oriented technology within an array of industries, with the global ESG-related assets under management (AuM) market expected to grow from USD 18.4 trillion in 2022 to USD 33.9 trillion by 2026.
As for net-zero programs, enterprises are using these to identify all the emissions they are responsible for creating and then reduce them as much as possible by investing in projects that prevent emissions elsewhere or remove carbon from the atmosphere. These programs are becoming progressively more common, as nations that make up around 40 percent of the world’s annual GDP have pledged to reach net zero emissions by 2050.
This overall surge in sustainability on all fronts has sparked new efforts from enterprises, with most recently, the Uptake Alliance, an emerging venture development program dedicated to fostering breakthrough climate technologies, announcing it is launching its innovation program, designed to facilitate and propel startups to secure commercial agreements, boost revenue, assemble exceptional teams, and secure funding.
Launched in September 2023, Uptake Alliance aims to serve as the gateway to New York State for climate tech startups, facilitating their growth through valuable industry connections, strategic partnerships, and assistance in securing funding for the deployment of GHG-reducing technologies. The initiative, administered by ADL Ventures and supported by the New York State Energy Research and Development Authority (NYSERDA), is accessible to startups worldwide, serving as a centralized hub for climate tech entities interested in doing business in New York State.
“Congratulations to the startup companies selected for the first cohort of Uptake Alliance that are poised to commercialize technologies critical to meeting New York State’s climate and clean energy goals,” said Anthony Fiore, New York State Energy Research and Development Authority (NYSERDA) Chief Program Officer. “Supporting emerging companies that create products to help lower emissions and advance clean energy is a win-win – as this support provides innovators with much-needed resources to grow and forge new partnerships that will benefit local communities and the State’s economy overall.”
The program, in which the Uptake Alliance has selected 15 enterprises to participate, will feature an extensive and bespoke curriculum, mentorship from industry experts, corporate networking opportunities, customized road mapping sessions, and access to Uptake Alliance’s extended network of partners and investors.
Hub Controls™ is one of 15 tech startups focused on reversing climate change, including the reduction of carbon emissions, with an aim to contribute to the global NetZero initiative. Hub Controls is the developer and provider of Hub Controller, an award-winning automated personal energy reduction system that saves users money while reducing energy consumption and carbon emissions.
“We are honored and excited to actively participate in this initiative,” said Oliver Hynes, Founder and CEO of Hub Controls, which last year expanded to serve energy companies, building management companies, public housing organizations, and consumers in the United States, after years of success in Ireland.
The power of Hub Controls’ eco-friendly efforts lies in their ability to help consumers optimize their energy use and reduce the amount of wasted energy. At the enterprise level, nearly 30 percent of the energy consumed in commercial buildings is wasted, with this only becoming worse at the consumer level, as 67 percent of the energy used in homes today falls under the category of waste.
However, the Hub Controls system offers automatic energy reduction (AER) capabilities, which reduces the amount of boiler-on time by intuiting a household’s preferences even more accurately than a human could. When implemented across Ireland, this system was found to reduce energy waste in residential households by up to 33 percent.
“We share so many of the same values as the Uptake Alliance, including energy equity. The same innovations that reduce the consumption of energy and related carbon emissions also make energy more affordable and accessible,” continued Hynes. “Especially with weather extremes, no person or family should have to suffer just because they cannot afford to heat or cool their homes. We have a solution proven in Ireland, which can positively impact hundreds of thousands and eventually millions of people.”
Along with Hub Controls, the other startups in the cohort include Ampaire, Banyan Infrastructure, ecoSPEARS, Edgecom Energy, Feedback Solutions Inc., H2Ok Innovations, Icarus RT, Inc., INOVUES, Itselectric, Kelvin, Rensair, Rhizome, Symbium’s, and Voltpost. Each one is expected to bring its unique, eco-friendly solution to the table to effectively and comprehensively enhance all facets of sustainability.
“We are thrilled to welcome this exceptional cohort of startups to our venture development program,” said Chris Richardson, Executive Director at Uptake Alliance. “These 15 teams of innovators represent a diverse set of cutting-edge solutions that will revolutionize and help shape our sustainable future. We are excited to support them with the resources, mentorship, and connections they need to thrive and make a lasting impact in New York State and beyond.”