Amazon has announced the first five recipients of investments from its $2 billion (£1.5bn) Climate Pledge Fund, a programme which supports sustainable technologies and services aimed at reducing the impact of climate change.
The Climate Pledge Fund, which was launched in June, exists to invest in companies across multiple industries including transportation and logistics, energy generation, storage and utilisation, manufacturing and materials, circular economy and food and agriculture.
The list of the companies set to benefit from the investments includes CarbonCure, a company that uses recycled carbon dioxide for cement production, electric vehicle (EV) startup Rivian and Redwood Materials, which recycles end-of-life lithium-ion batteries and electronic waste into high-value metals and chemicals.
The climate technology company Pachama and intelligent electric motor system manufacturer Turntide Technologies will also be supported.
Jeff Bezos, Amazon Founder and CEO, said: “Today, I am excited to announce that we are investing in a group of companies that are channelling their entrepreneurial energy into helping Amazon and other companies reach net zero by 2040 and keep the planet safer for future generations.”
The e-commerce giant notes for the next round of investments companies of all sizes and stages will be considered, from pre-product startups to well-established enterprises looking to scale.