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NATO has shifted into venture capitalism, planning to invest 1 billion Euros in climate tech startups through DIANA
DIANA, the latest venture capitalist initiative by NATO targeting climate-related security issues or climate tech startups, intends to invest more than 1 billion Euros. So far, NATO has made investments in 43 startups.
NATO has embarked on a fresh undertaking by initiating its inaugural business accelerator program primarily for climate tech start-ups, as part of its NATO Investment Fund. This new scheme, referred to as the Defense Innovation Accelerator for the North Atlantic or DIANA, marks NATO's debut in venture capitalism, with an emphasis on tackling security issues related to climate.
Initiated in 2023, DIANA was established with a budget of 1 billion Euros, funded by NATO's member nations. Its purpose is to fund technological advancements that boost energy robustness and tackle security risks intensified by global warming.
This action indicates NATO's necessity to adapt or put money into new technology due to changing global political hurdles, such as the latest unrest in Ukraine.
DIANA's program selects startups specializing in cybersecurity, surveillance, and energy resilience, particularly in the area of clean energy. These chosen startups are awarded initial funding and provided with access to specific testing facilities and resources.
For instance, a UK-based startup called Ionate Energy in DIANA is striving to update grid transformer machinery to more effectively control renewable energy sources.
GaltTec, an emerging company focusing on energy-saving fuel cells, serves as another illustration. Glen Kelp, a physicist, and his two partners founded this company and invented incredibly slim ceramic tubes, significantly slimmer than strands of hair. These tubes could potentially transform the fuel cell industry by providing lighter, more energy-effective alternatives for running electronic gadgets and grid networks.
These investments indicate NATO's focus on tech startups that extend beyond the conventional defense industries.
All in all, around 43 startups have received investment from NATO's DIANA.
Even though NATO's participation has a military dimension, DIANA doesn't invest in the companies it works with. Rather, it helps establish links between emerging businesses and defense departments, providing chances for both business and government collaborations.
Nonetheless, certain investors have voiced apprehensions about supporting businesses that work with the military because of possible ethical and monetary consequences.
In the future, DIANA intends to broaden its scope to encompass startups that are developing smart grids, nuclear fusion, sustainable aviation fuel, and artificial intelligence. Despite encountering doubts from certain energy firms about military collaborations, DIANA underscores its dedication to tackling universal energy issues and promoting creativity in the field of climate technology.
Through DIANA, NATO intends to use startup investments to strengthen energy robustness and lessen security threats linked to climate change. This indicates a move towards preemptive, tech-centric strategies for security and defence.
(Incorporating information from various sources)
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