Ecosia, a nonprofit search engine, has begun funneling some of the profits it generates by placing ads in search of startups in the renewable energy sector.
This is in addition to the €350 million Global Fund that Ecosia recently created and launched last year to support climate-focused startups.
To be clear, Ecosia will also continue to fund the plantation with search ad revenue (the activity for which it is best known), but The Berlin-based search engine told us that it is now making a “permanent commitment” to green energy investment as a result of the energy crisis caused by Russia’s invasion of Ukraine.
Investment was initially focused on Germany, which is particularly dependent on buying gas from Russia, meaning its economy has been hit hard by the crisis in Ukraine.
The war has already given the world new momentum to accelerate the transition from fossil fuels to renewables – an economic crisis amid a climate crisis that could worsen. High demand for renewable energy sources.
Although interest in fossil fuels is acute protection Attempt to stop any race for green energy – protecting the interests of Western countries Grow Their exploitation of oil and gas and, you know, even more rapid ignition of life on Earth. So investors have no shortage of reasons to ease their grip on renewable energy like there’s no tomorrow.
Ecosia says it initially invested $30 million in startups and public energy initiatives. Bringing green energy to homes across Germany.
Ecosia said it has already invested $23 million in small solar systems through Zoller’s local solar power distribution network, among other renewable energy projects across the country.
“We are currently supporting renewable energy projects throughout Germany. Further investment in renewable energy is likely if: Ecosia Evaluates community energy projects and founding proposals that may be in other countries,” the spokesman said.
He added that Ecosia’s goal for green energy investment is to encourage more companies to invest in renewables and accelerate the transition to renewables at a time when the world is in greater need than ever for fossil fuels. leave the earth.
“If you are a company looking to expand your renewable energy investments beyond zero carbon and need advice, or you are a founder or leader of a community project with a clean energy idea that is helping to reduce Europe’s dependence on fossil fuels. If you can make a difference, please contact us. . Contact our energy team,” noting that the initiative is being led by COO Wolfgang Ohls.
Ecosia has suggested investing in search ad revenue to enable regenerative farming in the future, although this is not the case at the moment. The focus continues to be on green energy projects.
When asked how the investment would be split between plantations and renewables, Ecosia replied that there would be no formal split as it would depend on the ability of applicants for energy funding, which means a monthly distribution of benefits on a case-by-case basis. Base.
The spokesperson also noted that Ecosia will publish a “when and when” breakdown of profits generated in its monthly financial report, where the investment will go (and as always with Plantation).
In hopes of securing support for climate technology startups, it is recommended to look to the broader Global Fund, where Ecosia founder Christian Kroll is a venture partner. So far, WorldFund has invested in vegetable steak startup Juicy Marbles; Tree plants Fintech TreeCard; and the cocoa-free chocolate alternative Qoa among others.