00:00:00
Speaker 1: Financial markets can no longer ignore the impacts of climate change, shifting consumer expectations and increasing regulatory scrutiny. These forces are reshaping industries, redefining risk, and creating new opportunities for long term value creation. Through conversations with industry leaders, investors, and subject matter experts, we explore where sustainability is translating into measurable financial outcomes. Welcome to Sustainability Currents. Brought to you by Bloomberg Intelligence.
00:00:40
Speaker 2: I'm Yas Takehoma, analyst for Sussemble Finals at Bloomberg Individence. Over the past few years, climate technology has moved from being a niche investment theme to one of the most important drivers of innovation and economic growth. Governments are stringers in climate policies, corporations are racing to decarbonize their operations, and breakthrough technologies are attracting unprecedented levels of investment. Today, we are delighted to be joined by Tomosaku Sohara, a founder of Nordic Ninja, one of the leading venture capital farms focused on climate technology. The farmer has built a strong truck record of investing in startups that are driving the transition to a low carbon economy. In today's conversation, we will explore where climat tech investing is headed, which technologies are generating the greatest excitement, and what opportunities and challenges lay ahead for founders, investors and corporations. Soharazan, thank you so much for joining us today and then welcome to our podcast.
00:01:46
Speaker 3: Thank you very much for having me, Homazan.
00:01:49
Speaker 2: Great to start, could you introduce Nordic Ninja to our audience. What is the investment focus and what makes the fund unique. We'd also love to hear to your team and where you are based and the philosophy the guys you were investment decisions.
00:02:06
Speaker 4: Yeah, all right, happy to do that. First of all, my name is Thomas x so'hara. I'm co founder and the general partner at the Nordic c Ninja VC. So the nerd KUNINJUVC is one of the largest Japanese VC focusing only in the European startup ecosystem, so with kind of an idea of making the bridge between the europe And entrepreneurship and innovation and the Japanese corporated in the industries. So as you can see that the Nordic gre Ninja is coming from the Nordics, so we have round the nerd Gringia in twenty nineteen headquartering Helsinki as a capital city of the Finland. And now we are expanding our geographical mandate and we are focusing on the northern part of Europe and pert Europe as well. So the nord Grininja is an early stage investor focusing on the deep technologies including a climate technology GEES and the digital technologies, especially for the Nordic and the uk or Banarux.
00:03:06
Speaker 3: And Iran as well.
00:03:08
Speaker 4: So one of the uniqueness for us is that we are the Japanese BC but the same times and we have international teams, so we have only the eleven employees working for the Nordic Ninjas, but the same time that we have combined of the European people and also the Japanese people. And another uniqueness that in general, I mean so many Japanese basis are making investment into the Europe and the US and Asia I mean outside of the Japan but the same time they usually join the investment cases as a follower investors. But for us, from the day one, we have been trying to make an investment into the start about the real investors. So as as a result, ninety percent of our profile company has been led by us, so this is kind of a uniqueness.
00:04:08
Speaker 3: Yes, we wanted to pursue for father great.
00:04:12
Speaker 2: Also, my interest is on the name of Nordic Ninja. So my follow up question is why did you put ninja on the company name.
00:04:21
Speaker 3: That's a good question.
00:04:22
Speaker 4: I mean, there was a lot of argument when we established the firm, so back into the twenty and eighteens, so they're like two options, the Nordic Samurai and the Nordic Ninjas. We also wanted to name ourselves as the people can easily understand that our firm was a combination of like nodic innovation and the Japanese cultures, so that we wanted to use some kind of unique Japanese name like a sakura or samurai or ninja's. But at the same time, as you know, they compared to the ninja and the samurai, as you know homicide, the summarai is willing to take a closy battlefield and the samurai in general samurai wanted to take on a center stage right compared to the ninjas. But the ninja is a more loyal and Ninja always tried to support the load and the Ninja doesn't need to take them a center stage. So from my perspect from our perspective, we wanted to put the entrepreneur founders on a center stage and the investors we se should not take a center stage. So that's why we decided to name ourselves Ninja, not nerdic Samurai.
00:05:36
Speaker 2: That's great, So let's move on to the role of climatic funds. Climate technology has attracted significant attention in recent years. Could you explain the role that climate tech venture funds play in accelating de carbonization. Has a climatic investment market been growing in terms of capital and the number of funds, How has the land skip evolved over the past few.
00:06:01
Speaker 4: Years well, as Hormosoon mentioned that, I agree in general, maybe in the last maybe five years, the climate technology the climate investors had been in March very significantly. But the same time, the name of the climate tech or climate inbassadors is shrinking thanks that maybe Trump administration in the US well. But at the same time, I strongly believe the role of the climate tech ambassador or crime technology is still very important for the future of the world. So from my perspective. The climate b C or crimate investors play two important roles. The first they provide a patient capital to technology that require longer development cycle than typical software like a Sazas business. Many climate technology involved hardware, manu factoring or infrastructure sometimes so they often need more time and a more capital, which mean that the capital intensities before reaching the commercial scale. That's a first role and the second row I would say climate BCEO Climate investors help the bridge the gap between technology and deployment, so success is really just about having a great innovational technologies. Companies need help finding the customers, securing the strategic partnership including like a big corporate, and navigating the regulations sometimes needed to educate the market, needed to educate the policy maker and raising FIGN capital so experienced climate investors can accelerate all of these Having say that BC along will not solve the organization. Infrastructure investors, corporate and government growth fund and even the debt provider including a project finance provider or play critical role as the technology is mature excellent.
00:08:06
Speaker 2: I feel the strong passion from you on the climat tech funds, so let me discuss the challenges in climat investing. So, from an investors perspective, what is the biggest challenge in backing climatic startups today? Is it identifying promising technologies, helping companies scale, or fundraising or something else.
00:08:28
Speaker 4: Well, honestly, compared to the last couple of years, we see a lot of challenge in terms of the climate tech envestment nowadays. Well, I actually don't think identifying interesting technology is the hardest part. University and the research institutions continue to generate the outstanding science and today there's no shortage of ambitious founders in the India, Europe. The biggest challenge is what I could say, commercialization and executions.
00:09:04
Speaker 3: So let me give you one example.
00:09:07
Speaker 4: Have you ever heard the boat right, nose boat the largest secure of action is in the Europe. So they raise a ton of money. I believe that they raised more than a billion dollars. I think more the keen, brilliant the money is. But they failed. They were to bankruptcy. And after the failing of the noseboat stories, everybody was complaining about okay, maybe I mean noboat technology products. It's not useful and there's no market which has been looking for the nospoad technology.
00:09:47
Speaker 3: This is not true.
00:09:49
Speaker 4: So Nobot has a lot of clients, had a lot of customer. They have signed a turn up the off taker agreement. So the market demanded is not an issue. The p is execution. They have a capital, they have a market, they have a customer, and they have a great tilet But the same time that they cannot deliver the data product on time and at the cost. So that's why I mean they cannot create sustainable the business model.
00:10:19
Speaker 3: That's a tricky part.
00:10:22
Speaker 4: So the previously when every is saying about the climate technology or decarbonization, there are a lot of like a business involved which is counting the green premium. So in the Europe they have a lot of product image like a so called a green product, so green steel, I mean the green food, I mean green somethings. But the same time, after the couple of years, we realize that very.
00:10:51
Speaker 3: Few people is willing to pay the green premium.
00:10:55
Speaker 4: So looking at for example, alternative protein industries, so there's a lot of alternative protein that can beyond me the impossible folds. But nowadays nobody wanted to pay these curable green payments. So this is the biggest thing that I have learned is that climate startup climate companies don't compete only on sustainabilities. They needed to compete on the economics the customers by solutions because they are cheaper first and more reliable or more convenient, not simply because they are greater.
00:11:32
Speaker 3: So this is the biggest program. We should not underestimate this part.
00:11:37
Speaker 2: Thank you so much for raising some example. Then let's move on to some cases in your Portofolio. First one is in in Ride. So in Ride has become one of the best known companies developing autonomous and electric freight solutions due to the IPO in the New York STO Quick Exchange recently. Could you introduce the company and explain what makes its technology so disruptive, what excites you most about this future?
00:12:07
Speaker 4: Thank you, Thank you Burnamud for picking up the ain Ride. So we are so excited. We're so happy that the air led made successfue IPO in the netslex through the spac rasman so an Ride is a Swedish company that is a transforming flight transportation by combining the three technologies electric tracks, autonomous driving and AI power the freight management software. This is a revolutional technologies for the industries. So what makes the company disrupt is that it doesn't just sell the electric tracks. It offers an integrated logistic platform that helps customer optimized routs, charging and biggle utilization, making flight transport both cleaner and more efficient. What exciting me most is wrong time opportunities. And we made an investment into the Inlet in twoy nineteen, so it took a little seven or eight years. This is this is a wrong shot, but the same time were still am excited to pursue the their journeys. So load of flight accounts for the significant shield of the global shieldy emissions. So even small improvement can have a huge impact. As battery costs, ford and autonomous technologist matures, companies like an ain Let could fundamentally change how goods are transported. And if we look at the maybe Japanese industries, one of the biggest charging for the track industry is lacking of the driver or maybe aging. In addition to the Asian societies, the many like a truck or logistical industries, they are struggling to find or to seek you the meaningful younger truck drivers. So and that could also not disrupt the a light could also contribute for the rucking of dimad driver in these industry.
00:14:12
Speaker 2: Is very interesting. Another fascinating company is core Power Ocean which is developing wave energy technology. So many of our listeners may not be familiar with wave power. Could you explain how it works? Do you see wave energy becoming a meaningful part of the global clean energy mix, which reasons for countries have the greatest potential to adopt this technology.
00:14:38
Speaker 4: This is one of the personally most exciting profile company than Neude Ninia. So the core Power developed This is also another Swedish company by the way, the same as ain Ride. So core Power develops the technology that converts the motion of the ocean waves into the electricity. So they are floating device to move up and down with the waves and that the mechanical movement is comboined into electric power. So which means that maybe that with the core Power device they can amplify three times energy efficiencies.
00:15:19
Speaker 3: From the wave energies.
00:15:20
Speaker 2: So what's interesting.
00:15:22
Speaker 4: What makes the core Power particularly exciting or interesting is that data technologies is designed to capture much more energy than traditional wave power energies while surviving harsh ocean conditions, which has history historically been one of the biggest challenges for the industries. I'm not sure you are aware of the home Muslim but the Japan with the first countries that has successfully p RC pilot project wave power in maybe ninety yeah, after the World War seconds in nineteen I'm naturally exactly timing, but ninety fifty five or ninety sixty near the TOLLHK regions. But at the same time, I mean, the way power industry is way power excitement in Japan has been drinking because of a lot of reason, so maybe fisherman reason. And also it's really difficult for the device to survive under the harsh weathers, including leg storm weather. But I don't think the way energy will repress solar or wind, but it can become an important compliment. The waves are often more predictable and continue generating electricity even when the sun isn't shining or the wind. This week, the regions with a strong I mean costlines such as the uk Iround, Portrugal and Norway, maybe even some part of Japan, have a particularly strong potential for the wave energy deployment and sensitizing of the demand for the AI. The data centers the world mass needs these kind of technologies.
00:17:07
Speaker 2: Great, thank you. Another case is on Ego Bio. Correct me if my pronunciation is wrong. So Oneggo Bio is also a very interesting company because it produces bioidentical egg protein without relying on chickens. Eggs are often described as one of the most complete sources of nutrition, so this technology could have significant implications for food production. At the same time, Oneggo says its process can reduce CO two emissions by around ninety percent compared with conventional egg production. How does the technology achieve that and what impact could it have on both sustainable food systems and the climate change?
00:17:54
Speaker 3: Okay, yep, happy to so.
00:17:58
Speaker 4: On Ego is an another exciting profile company and the day of the finished companies not sweating now, So only you produce the egg protein without using the chicken as you described. Instead, they use a precision fermation where microorganisms are programmed to produce exactly the same protein and feature that naturally exists in the white eggs.
00:18:28
Speaker 3: Because there are no.
00:18:30
Speaker 4: Hands forms of feel involved, the process uses far less land, water and energy, and that's why the company estimated it can reduce the COEO to emission by around the ninety percent compared with the conventional egg productions. So I mean the energy is very important. But at the same time, I mean the water is very important. There's a lot of competition to secure the high quality of the water, I mean because of the data center or other use cases. So onegar as I mentioned that the ONEGLE I mean doesn't need to use much water for producing their product. I think the biggest opportunity isn't replacing every egg people it it's supplying a high quality egg protein to the food industry for the products like baking, some snacks and cookies, and processed foods even like a pasta as well. The way functionality is more important than the egg itself. If the technologies reach the largest scale production and the competitive cost, it could make a food production both more susceinable and more resilient. Maybe one thing that I wanted to add regarding the onegle as I mentioned that the products can reduced shield to emission significantry compared with the conventional egg productions. But the same time, the business model doesn't count on a green premium. But the same time, for example, in the US or some Southeast Asian countries, they frequently struggle with the bolder through. If the ball through happens occurs, the price of the egg is very of the balladize has been fluctuated, so many food processor companies want to want to stop rights their price. So that's why I mean they are willing to pay something like a not green premium, but like sustainable or suprighting permium for that. So only go might be able to contribute very significantly to stabil right the subpriting for the eggo industry. But that that is the biggest contributor which an ongle could provide for the world.
00:20:59
Speaker 2: Excellent, that's great, Thank you so much. Then let's return back to the broader market discussion. Climate investing doesn't happen in the vacuum. Policy changes can have a major impact on the industry. The United States has recently seen a shift in its approach to ESG and climate policy, including moves away from some international climate commitments. How do these policy changes affect climatic startups and the investors? Do they slow innovation? Do you see opportunities emerging elsewhere in the world?
00:21:34
Speaker 3: Well, the honor three. The policy change.
00:21:40
Speaker 4: From the US government is significantry add best effect to the world entirely well, especially for the climate attack. So that's why the very few people currently calling a climate attack. So the a couple of years ago, I mean so many star founder, so many entrepreneurs in the Europe and Asia, everybody's talking about the climate attack. But nowadays I mean nobody wanted to say about the climatettach. But instead if we were talking about the resilience technologies or critical technologies or like I mean energy technologies. For example, in the Europe, after the Ukraine's situation was happens, the energy suborignities, energy securities one of the most important agenda for the Europe. So I mean so many companies and so many industries, so many PCs has been looking for the energy related the startup.
00:22:44
Speaker 3: But this kind of energy really startup.
00:22:46
Speaker 4: They can contribute to both for the for the security and the energy security in the Europe, but also contribute for the.
00:22:57
Speaker 3: Global global warming mitigations.
00:23:03
Speaker 4: So I would say that yes, I mean the climate technology. The naming of the climate climate technology I mean should be replacing by resilience tech, energy tech, whatever we called so natively has been changed. But the mindset and passion for the decarbonization has not been changed. One thing that we should be aware from from also the US perspective that the US is still the largest provider of the growth capital to the old I mean, I think all kinds of startup, not only the deep take climate but also any kind of startup. And the Europe has a lot of hourly stage investors, and Europe has a lot of the government who could support that maybe are the stage of innovation by using like a grunt or subsidy or like a tax incentives. But at the same time someone needed to provide the growth capitals. So unfortunately Europe and made easier. We had been counting on the growth capital from the US. But nowadays, I mean the growth investor infrastructure invested in the US, they don't want to invest into the climate tech. So this is something that maybe Europe needed to tackle with maybe partnership of the Asia. So that's why so many European entrepreneur founders wanted to consider the collaborating with the Japanese industrial Japanese investments. I believe maybe the next couple of years. But this is a great moment, great momentum for the Europe to build something together with Japan.
00:24:55
Speaker 2: Great thank you so much for sharing your experience and insights. That's all from us today. We really appreciate it. Thank you so much, so
00:25:04
Speaker 3: Thank you very much for Homeberson, good luck,
Speaker 1: Financial markets can no longer ignore the impacts of climate change, shifting consumer expectations and increasing regulatory scrutiny. These forces are reshaping industries, redefining risk, and creating new opportunities for long term value creation. Through conversations with industry leaders, investors, and subject matter experts, we explore where sustainability is translating into measurable financial outcomes. Welcome to Sustainability Currents. Brought to you by Bloomberg Intelligence.
00:00:40
Speaker 2: I'm Yas Takehoma, analyst for Sussemble Finals at Bloomberg Individence. Over the past few years, climate technology has moved from being a niche investment theme to one of the most important drivers of innovation and economic growth. Governments are stringers in climate policies, corporations are racing to decarbonize their operations, and breakthrough technologies are attracting unprecedented levels of investment. Today, we are delighted to be joined by Tomosaku Sohara, a founder of Nordic Ninja, one of the leading venture capital farms focused on climate technology. The farmer has built a strong truck record of investing in startups that are driving the transition to a low carbon economy. In today's conversation, we will explore where climat tech investing is headed, which technologies are generating the greatest excitement, and what opportunities and challenges lay ahead for founders, investors and corporations. Soharazan, thank you so much for joining us today and then welcome to our podcast.
00:01:46
Speaker 3: Thank you very much for having me, Homazan.
00:01:49
Speaker 2: Great to start, could you introduce Nordic Ninja to our audience. What is the investment focus and what makes the fund unique. We'd also love to hear to your team and where you are based and the philosophy the guys you were investment decisions.
00:02:06
Speaker 4: Yeah, all right, happy to do that. First of all, my name is Thomas x so'hara. I'm co founder and the general partner at the Nordic c Ninja VC. So the nerd KUNINJUVC is one of the largest Japanese VC focusing only in the European startup ecosystem, so with kind of an idea of making the bridge between the europe And entrepreneurship and innovation and the Japanese corporated in the industries. So as you can see that the Nordic gre Ninja is coming from the Nordics, so we have round the nerd Gringia in twenty nineteen headquartering Helsinki as a capital city of the Finland. And now we are expanding our geographical mandate and we are focusing on the northern part of Europe and pert Europe as well. So the nord Grininja is an early stage investor focusing on the deep technologies including a climate technology GEES and the digital technologies, especially for the Nordic and the uk or Banarux.
00:03:06
Speaker 3: And Iran as well.
00:03:08
Speaker 4: So one of the uniqueness for us is that we are the Japanese BC but the same times and we have international teams, so we have only the eleven employees working for the Nordic Ninjas, but the same time that we have combined of the European people and also the Japanese people. And another uniqueness that in general, I mean so many Japanese basis are making investment into the Europe and the US and Asia I mean outside of the Japan but the same time they usually join the investment cases as a follower investors. But for us, from the day one, we have been trying to make an investment into the start about the real investors. So as as a result, ninety percent of our profile company has been led by us, so this is kind of a uniqueness.
00:04:08
Speaker 3: Yes, we wanted to pursue for father great.
00:04:12
Speaker 2: Also, my interest is on the name of Nordic Ninja. So my follow up question is why did you put ninja on the company name.
00:04:21
Speaker 3: That's a good question.
00:04:22
Speaker 4: I mean, there was a lot of argument when we established the firm, so back into the twenty and eighteens, so they're like two options, the Nordic Samurai and the Nordic Ninjas. We also wanted to name ourselves as the people can easily understand that our firm was a combination of like nodic innovation and the Japanese cultures, so that we wanted to use some kind of unique Japanese name like a sakura or samurai or ninja's. But at the same time, as you know, they compared to the ninja and the samurai, as you know homicide, the summarai is willing to take a closy battlefield and the samurai in general samurai wanted to take on a center stage right compared to the ninjas. But the ninja is a more loyal and Ninja always tried to support the load and the Ninja doesn't need to take them a center stage. So from my perspect from our perspective, we wanted to put the entrepreneur founders on a center stage and the investors we se should not take a center stage. So that's why we decided to name ourselves Ninja, not nerdic Samurai.
00:05:36
Speaker 2: That's great, So let's move on to the role of climatic funds. Climate technology has attracted significant attention in recent years. Could you explain the role that climate tech venture funds play in accelating de carbonization. Has a climatic investment market been growing in terms of capital and the number of funds, How has the land skip evolved over the past few.
00:06:01
Speaker 4: Years well, as Hormosoon mentioned that, I agree in general, maybe in the last maybe five years, the climate technology the climate investors had been in March very significantly. But the same time, the name of the climate tech or climate inbassadors is shrinking thanks that maybe Trump administration in the US well. But at the same time, I strongly believe the role of the climate tech ambassador or crime technology is still very important for the future of the world. So from my perspective. The climate b C or crimate investors play two important roles. The first they provide a patient capital to technology that require longer development cycle than typical software like a Sazas business. Many climate technology involved hardware, manu factoring or infrastructure sometimes so they often need more time and a more capital, which mean that the capital intensities before reaching the commercial scale. That's a first role and the second row I would say climate BCEO Climate investors help the bridge the gap between technology and deployment, so success is really just about having a great innovational technologies. Companies need help finding the customers, securing the strategic partnership including like a big corporate, and navigating the regulations sometimes needed to educate the market, needed to educate the policy maker and raising FIGN capital so experienced climate investors can accelerate all of these Having say that BC along will not solve the organization. Infrastructure investors, corporate and government growth fund and even the debt provider including a project finance provider or play critical role as the technology is mature excellent.
00:08:06
Speaker 2: I feel the strong passion from you on the climat tech funds, so let me discuss the challenges in climat investing. So, from an investors perspective, what is the biggest challenge in backing climatic startups today? Is it identifying promising technologies, helping companies scale, or fundraising or something else.
00:08:28
Speaker 4: Well, honestly, compared to the last couple of years, we see a lot of challenge in terms of the climate tech envestment nowadays. Well, I actually don't think identifying interesting technology is the hardest part. University and the research institutions continue to generate the outstanding science and today there's no shortage of ambitious founders in the India, Europe. The biggest challenge is what I could say, commercialization and executions.
00:09:04
Speaker 3: So let me give you one example.
00:09:07
Speaker 4: Have you ever heard the boat right, nose boat the largest secure of action is in the Europe. So they raise a ton of money. I believe that they raised more than a billion dollars. I think more the keen, brilliant the money is. But they failed. They were to bankruptcy. And after the failing of the noseboat stories, everybody was complaining about okay, maybe I mean noboat technology products. It's not useful and there's no market which has been looking for the nospoad technology.
00:09:47
Speaker 3: This is not true.
00:09:49
Speaker 4: So Nobot has a lot of clients, had a lot of customer. They have signed a turn up the off taker agreement. So the market demanded is not an issue. The p is execution. They have a capital, they have a market, they have a customer, and they have a great tilet But the same time that they cannot deliver the data product on time and at the cost. So that's why I mean they cannot create sustainable the business model.
00:10:19
Speaker 3: That's a tricky part.
00:10:22
Speaker 4: So the previously when every is saying about the climate technology or decarbonization, there are a lot of like a business involved which is counting the green premium. So in the Europe they have a lot of product image like a so called a green product, so green steel, I mean the green food, I mean green somethings. But the same time, after the couple of years, we realize that very.
00:10:51
Speaker 3: Few people is willing to pay the green premium.
00:10:55
Speaker 4: So looking at for example, alternative protein industries, so there's a lot of alternative protein that can beyond me the impossible folds. But nowadays nobody wanted to pay these curable green payments. So this is the biggest thing that I have learned is that climate startup climate companies don't compete only on sustainabilities. They needed to compete on the economics the customers by solutions because they are cheaper first and more reliable or more convenient, not simply because they are greater.
00:11:32
Speaker 3: So this is the biggest program. We should not underestimate this part.
00:11:37
Speaker 2: Thank you so much for raising some example. Then let's move on to some cases in your Portofolio. First one is in in Ride. So in Ride has become one of the best known companies developing autonomous and electric freight solutions due to the IPO in the New York STO Quick Exchange recently. Could you introduce the company and explain what makes its technology so disruptive, what excites you most about this future?
00:12:07
Speaker 4: Thank you, Thank you Burnamud for picking up the ain Ride. So we are so excited. We're so happy that the air led made successfue IPO in the netslex through the spac rasman so an Ride is a Swedish company that is a transforming flight transportation by combining the three technologies electric tracks, autonomous driving and AI power the freight management software. This is a revolutional technologies for the industries. So what makes the company disrupt is that it doesn't just sell the electric tracks. It offers an integrated logistic platform that helps customer optimized routs, charging and biggle utilization, making flight transport both cleaner and more efficient. What exciting me most is wrong time opportunities. And we made an investment into the Inlet in twoy nineteen, so it took a little seven or eight years. This is this is a wrong shot, but the same time were still am excited to pursue the their journeys. So load of flight accounts for the significant shield of the global shieldy emissions. So even small improvement can have a huge impact. As battery costs, ford and autonomous technologist matures, companies like an ain Let could fundamentally change how goods are transported. And if we look at the maybe Japanese industries, one of the biggest charging for the track industry is lacking of the driver or maybe aging. In addition to the Asian societies, the many like a truck or logistical industries, they are struggling to find or to seek you the meaningful younger truck drivers. So and that could also not disrupt the a light could also contribute for the rucking of dimad driver in these industry.
00:14:12
Speaker 2: Is very interesting. Another fascinating company is core Power Ocean which is developing wave energy technology. So many of our listeners may not be familiar with wave power. Could you explain how it works? Do you see wave energy becoming a meaningful part of the global clean energy mix, which reasons for countries have the greatest potential to adopt this technology.
00:14:38
Speaker 4: This is one of the personally most exciting profile company than Neude Ninia. So the core Power developed This is also another Swedish company by the way, the same as ain Ride. So core Power develops the technology that converts the motion of the ocean waves into the electricity. So they are floating device to move up and down with the waves and that the mechanical movement is comboined into electric power. So which means that maybe that with the core Power device they can amplify three times energy efficiencies.
00:15:19
Speaker 3: From the wave energies.
00:15:20
Speaker 2: So what's interesting.
00:15:22
Speaker 4: What makes the core Power particularly exciting or interesting is that data technologies is designed to capture much more energy than traditional wave power energies while surviving harsh ocean conditions, which has history historically been one of the biggest challenges for the industries. I'm not sure you are aware of the home Muslim but the Japan with the first countries that has successfully p RC pilot project wave power in maybe ninety yeah, after the World War seconds in nineteen I'm naturally exactly timing, but ninety fifty five or ninety sixty near the TOLLHK regions. But at the same time, I mean, the way power industry is way power excitement in Japan has been drinking because of a lot of reason, so maybe fisherman reason. And also it's really difficult for the device to survive under the harsh weathers, including leg storm weather. But I don't think the way energy will repress solar or wind, but it can become an important compliment. The waves are often more predictable and continue generating electricity even when the sun isn't shining or the wind. This week, the regions with a strong I mean costlines such as the uk Iround, Portrugal and Norway, maybe even some part of Japan, have a particularly strong potential for the wave energy deployment and sensitizing of the demand for the AI. The data centers the world mass needs these kind of technologies.
00:17:07
Speaker 2: Great, thank you. Another case is on Ego Bio. Correct me if my pronunciation is wrong. So Oneggo Bio is also a very interesting company because it produces bioidentical egg protein without relying on chickens. Eggs are often described as one of the most complete sources of nutrition, so this technology could have significant implications for food production. At the same time, Oneggo says its process can reduce CO two emissions by around ninety percent compared with conventional egg production. How does the technology achieve that and what impact could it have on both sustainable food systems and the climate change?
00:17:54
Speaker 3: Okay, yep, happy to so.
00:17:58
Speaker 4: On Ego is an another exciting profile company and the day of the finished companies not sweating now, So only you produce the egg protein without using the chicken as you described. Instead, they use a precision fermation where microorganisms are programmed to produce exactly the same protein and feature that naturally exists in the white eggs.
00:18:28
Speaker 3: Because there are no.
00:18:30
Speaker 4: Hands forms of feel involved, the process uses far less land, water and energy, and that's why the company estimated it can reduce the COEO to emission by around the ninety percent compared with the conventional egg productions. So I mean the energy is very important. But at the same time, I mean the water is very important. There's a lot of competition to secure the high quality of the water, I mean because of the data center or other use cases. So onegar as I mentioned that the ONEGLE I mean doesn't need to use much water for producing their product. I think the biggest opportunity isn't replacing every egg people it it's supplying a high quality egg protein to the food industry for the products like baking, some snacks and cookies, and processed foods even like a pasta as well. The way functionality is more important than the egg itself. If the technologies reach the largest scale production and the competitive cost, it could make a food production both more susceinable and more resilient. Maybe one thing that I wanted to add regarding the onegle as I mentioned that the products can reduced shield to emission significantry compared with the conventional egg productions. But the same time, the business model doesn't count on a green premium. But the same time, for example, in the US or some Southeast Asian countries, they frequently struggle with the bolder through. If the ball through happens occurs, the price of the egg is very of the balladize has been fluctuated, so many food processor companies want to want to stop rights their price. So that's why I mean they are willing to pay something like a not green premium, but like sustainable or suprighting permium for that. So only go might be able to contribute very significantly to stabil right the subpriting for the eggo industry. But that that is the biggest contributor which an ongle could provide for the world.
00:20:59
Speaker 2: Excellent, that's great, Thank you so much. Then let's return back to the broader market discussion. Climate investing doesn't happen in the vacuum. Policy changes can have a major impact on the industry. The United States has recently seen a shift in its approach to ESG and climate policy, including moves away from some international climate commitments. How do these policy changes affect climatic startups and the investors? Do they slow innovation? Do you see opportunities emerging elsewhere in the world?
00:21:34
Speaker 3: Well, the honor three. The policy change.
00:21:40
Speaker 4: From the US government is significantry add best effect to the world entirely well, especially for the climate attack. So that's why the very few people currently calling a climate attack. So the a couple of years ago, I mean so many star founder, so many entrepreneurs in the Europe and Asia, everybody's talking about the climate attack. But nowadays I mean nobody wanted to say about the climatettach. But instead if we were talking about the resilience technologies or critical technologies or like I mean energy technologies. For example, in the Europe, after the Ukraine's situation was happens, the energy suborignities, energy securities one of the most important agenda for the Europe. So I mean so many companies and so many industries, so many PCs has been looking for the energy related the startup.
00:22:44
Speaker 3: But this kind of energy really startup.
00:22:46
Speaker 4: They can contribute to both for the for the security and the energy security in the Europe, but also contribute for the.
00:22:57
Speaker 3: Global global warming mitigations.
00:23:03
Speaker 4: So I would say that yes, I mean the climate technology. The naming of the climate climate technology I mean should be replacing by resilience tech, energy tech, whatever we called so natively has been changed. But the mindset and passion for the decarbonization has not been changed. One thing that we should be aware from from also the US perspective that the US is still the largest provider of the growth capital to the old I mean, I think all kinds of startup, not only the deep take climate but also any kind of startup. And the Europe has a lot of hourly stage investors, and Europe has a lot of the government who could support that maybe are the stage of innovation by using like a grunt or subsidy or like a tax incentives. But at the same time someone needed to provide the growth capitals. So unfortunately Europe and made easier. We had been counting on the growth capital from the US. But nowadays, I mean the growth investor infrastructure invested in the US, they don't want to invest into the climate tech. So this is something that maybe Europe needed to tackle with maybe partnership of the Asia. So that's why so many European entrepreneur founders wanted to consider the collaborating with the Japanese industrial Japanese investments. I believe maybe the next couple of years. But this is a great moment, great momentum for the Europe to build something together with Japan.
00:24:55
Speaker 2: Great thank you so much for sharing your experience and insights. That's all from us today. We really appreciate it. Thank you so much, so
00:25:04
Speaker 3: Thank you very much for Homeberson, good luck,
