Activities
Divisions
Programmes
Activities
Divisions
Programmes
NATO has now become a venture capitalist and plans to invest 1 billion Euros in climate tech startups through DIANA. DIANA is NATO's latest venture into capitalism, focusing on climate-related security issues or climate tech startups. NATO is planning to invest more than 1 billion Euros. So far, NATO has made investments in 43 startups.
NATO has embarked on a fresh venture by initiating its inaugural business accelerator scheme, primarily intended for climate technology startups, through its NATO Investment Fund. This new endeavor, called the Defense Innovation Accelerator for the North Atlantic, or DIANA, represents NATO's debut into venture capitalism, concentrating on tackling security issues related to climate change.
DIANA was established in 2023, with a budget of 1 billion Euros collected from NATO's member nations. Its primary aim is to fund advancements in technology that boost energy resilience and tackle security issues heightened by climate change.
This action underscores the necessity for NATO to either develop or pour resources into modern technology as a response to changing global political issues, such as the recent unrest in Ukraine.
Companies that are admitted into DIANA's initiative concentrate on cybersecurity, monitoring, and energy sustainability, particularly in the area of green energy solutions. These enterprises are awarded preliminary funding and are given the opportunity to use specialized test facilities and resources.
For instance, Ionate Energy, a UK-based startup in DIANA, is striving to update grid transformer technology to enhance the handling of renewable energy sources.
GaltTec, a new business focused on energy-efficient fuel cells, serves as another illustration. Founded by physicist Glen Kelp and his two partners, they created extraordinarily slim ceramic tubes, slimmer than strands of hair. These tubes could potentially transform the fuel cell technology industry by providing lighter, more energy-efficient methods of powering electronics and grid systems.
These investments indicate NATO's attention to tech startups outside the conventional defense industries.
Overall, NATO's DIANA has funded approximately 43 different startups.
Even though NATO's engagement is in a military setting, DIANA does not claim ownership stakes in the companies it collaborates with. Rather, it acts as a bridge between startups and defense departments, providing prospects for business and governmental collaborations.
Nonetheless, certain investors have voiced their apprehensions about supporting businesses that cater to the military, citing possible moral and economic consequences.
In the future, DIANA aims to extend its attention to startups engaged in the development of smart grids, nuclear fusion, sustainable aviation fuel, and artificial intelligence. Despite encountering doubt from a few energy firms about military collaborations, DIANA reiterates its dedication to tackling ubiquitous energy issues and promoting innovation in the climate technology industry.
Through DIANA, NATO intends to utilize startup investments to strengthen energy resilience and reduce security threats related to climate change. This indicates a move towards proactive, tech-based strategies for security and defense.
(Incorporating information from various sources)
Look for us on YouTube
Highlighted Shows
Associated Articles
EU heads scramble to secure financial support for under-resourced Ukraine | Three potential strategies being evaluated
NATO leader encourages Armenia and Azerbaijan to agree to peace treaty | Five possible elements of the agreement
Despite Western misinformation, Russia demonstrates strength and recovers robustly
Termination of Swedish 'neutrality': NATO's progression eastwards further provokes Putin's Russia
EU heads scramble to secure financial support for under-resourced Ukraine | Three potential strategies being evaluated
NATO leader encourages Armenia and Azerbaijan to agree to peace treaty | Five possible elements of the agreement
Despite Western misinformation, Russia demonstrates strength and recovers robustly
Termination of Swedish 'neutrality': NATO's progression eastwards further provokes Putin's Russia
is available on YouTube.
All rights reserved by Firstpost, copyright 2024.
+ There are no comments
Add yours