The Impact Innovator | Issue 326
In this week's The Impact Innovator edition:
What is it: ?United Airlines has announced plans to use up to 1 million gallons of sustainable aviation fuel (SAF) at Chicago O'Hare International Airport by the end of 2024, marking a significant expansion of SAF use in the U.S.
Why it's important: ?This move not only showcases a commitment to sustainability but also sets a precedent for other major airlines to follow suit, potentially leading to widespread adoption of sustainable aviation fuel in the future.
Key takeaways: ?This move by United demonstrates a commitment to reducing carbon emissions in the aviation industry and sets a precedent for other airlines to follow suit. SAF has the potential to significantly lower emissions from flights, with Neste claiming its SAF can reduce life-cycle emissions by up to 80%. Despite progress, there is still a long way to go in increasing the adoption of SAF in the aviation sector.
What is it: ?Royal Mint is extracting gold from e-waste like old circuit boards at a plant in Wales, aiming to process 4,000 tonnes annually and create jewellery and coins. The process involves leaching gold from the boards using a chemical solution that is recyclable and energy-efficient.
Why it's important: ?This initiative not only addresses the environmental impact of e-waste but also presents a new revenue stream for the Royal Mint, showcasing a shift towards sustainable practices and job preservation in the face of changing market demands.
Key takeaways: ?By processing e-waste domestically, the Royal Mint aims to generate revenue, save jobs, and contribute to sustainability efforts. Additionally, the company explores reusing other materials from circuit boards, showcasing a comprehensive approach to waste management and resource recovery.
What is it: ?Onepak Inc., a Boston-based digital supply chain and reverse logistics platform led by Steve Andon, raised $20m from Nuveen. Onepak provides the ReturnCenter platform for returning, recycling, reselling, or relocating IT devices, enabling organizations to manage the movement and disposal of used electronic devices.
Why it's important: ?The emergence of Onepak Inc. in the digital supply chain and reverse logistics space, with a focus on responsible repurposing of used IT hardware and e-waste, signifies a significant step towards sustainable practices in the tech industry. The $20m investment from Nuveen underscores the growing importance of efficient and ethical management of electronic waste, especially as more businesses and consumers seek environmentally conscious solutions for IT device disposal and recycling.
Key takeaways: ?The company's ReturnCenter platform enables the responsible repurposing of used IT hardware and e-waste, catering to IT users and organizations of all sizes. Onepak has successfully managed the return of over 2 billion pounds of devices for a wide range of customers, including major organizations like Dell Technologies, IBM, and General Motors.
What is it: ?Sora Fuel, a company specializing in sustainable aviation fuel production, recently secured a $6 million seed round led by The Engine Ventures. The funding will support team expansion, commercialization partnerships, and technology advancement.
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Why it's important: ?By offering a more sustainable and cost-effective solution for SAF production, Sora Fuel's innovative approach has the potential to revolutionize the aviation industry and help meet environmental targets for reducing carbon intensity in air travel.
Key takeaways: ? Sora Fuel's technology eliminates 90% of the energy required in standard processes, offering a more sustainable and cost-effective way to produce SAF. This advancement could help meet climate goals by providing a scalable solution for producing carbon-negative fuels in the aviation sector.
What is it: ?Michael Maslansky and Will Howard discuss the importance of climate action for financial services firms in response to a conservative backlash against ESG policies. Despite partisan differences, investors overwhelmingly support companies taking climate-related actions, viewing them as essential for financial success.
Why it's important: ? This underscores the importance of aligning business strategies with investor expectations regarding climate action and clean energy opportunities, despite potential partisan differences. By emphasizing the financial benefits and risk mitigation associated with environmentally responsible practices, the article highlights the growing consensus among investors that prioritizing climate initiatives can enhance long-term business success.
Key takeaways: ?Investors overwhelmingly support companies taking climate action and investing in clean energy opportunities for financial success, despite political differences. They believe environmentally responsible businesses are more likely to succeed financially and view the clean energy transition as a growth opportunity. Additionally, investors see climate risks as significant business risks that can impact financial performance. Companies that align their climate actions with responsible business practices, clean energy growth opportunities, and climate risk mitigation are more likely to garner investor support and succeed in the long run.
What is it: ?Floating and mobile solar power plant, the largest of its kind globally, has been deployed along the Seine to provide renewable electricity to the Olympic and Paralympic Square at the Athletes' Village. The 78 kW temporary photovoltaic installation, assembled and dismantled in 24 hours, operates on self-consumption and can cater to the electricity needs of 94 apartments.
Why it's important: ?By providing green electricity to the Olympic and Paralympic Square at the Athletes’ Village, this temporary installation demonstrates the potential for using renewable energy sources in temporary and remote locations, setting a precedent for future events and construction projects.
Key takeaways: ?The innovative solar power plant can be easily assembled and dismantled within 24 hours, making it a sustainable alternative to traditional generators for events and remote sites. This project showcases the potential of using floating solar installations to meet temporary energy needs and reduce reliance on non-renewable energy sources.
What is it: ?Nissan is experimenting with a heat-reflecting white paint that can cool its cars by up to 22 degrees Fahrenheit externally and 9 degrees Fahrenheit internally, aiming to reduce the need for air conditioning and improve energy efficiency. The paint, developed in collaboration with Radi-Cool, is being trialed on airport service vehicles and could potentially be applied to commercial vehicles in the future.
Why it's important: ?The development of this cooling paint represents a step towards more climate-conscious vehicles in the auto industry, although material scientists caution that it is not a long-term solution to the broader climate crisis.
Key takeaways: ?The technology uses particles to reflect infrared rays and deflect heat, similar to sunscreen, and could have a shiny future ahead in the automotive industry. While the paint may limit color options for eco-conscious consumers, there are ongoing challenges in developing translucent paints and addressing environmental impacts of the technology. Despite advancements, experts caution that reflective white paint is just a short-term solution to climate issues.
What is it: ?Dark oxygen, a mysterious phenomenon found in the ocean's abyss, has raised concerns about deep-sea mining for battery materials and its potential impact on marine life. The discovery has prompted calls for a moratorium on mining as scientists are still trying to understand the risks involved. The research suggests that polymetallic nodules on the seafloor could be producing oxygen through a unique process, sparking debate and negotiations over regulations for deep-sea mining to protect the delicate ecosystem.
Why it's important: ?The discovery of "dark oxygen" in the deep sea is significant because it raises new questions about the potential risks of deep-sea mining on marine life and ecosystems. This finding challenges our understanding of oxygen production processes on Earth and highlights the urgent need for regulations to protect the delicate balance of the ocean's abyss. The ongoing debates and negotiations surrounding deep-sea mining rules, triggered by this discovery, reflect the critical importance of balancing resource extraction with environmental conservation for the future of our oceans.
Key takeaways: ?The presence of dark oxygen, produced by polymetallic nodules on the seafloor, has led to calls for a moratorium on mining to better understand the risks involved. The research findings challenge the idea that deep-sea mining could be a less harmful alternative to land mining, sparking debate and calls for more comprehensive regulations to protect marine environments.