A majority, or 60%, of the more than two dozen investors polled by dot.LA recently said climate change is affecting how they invest. The trend is fueling a record-setting year for the sector, as investors put billions behind Southern California-based companies such as electric vehicle maker Rivian and home energy storage firm Swell. Read more >>
Here's what else we're reading in the news:
- EVgo, the L.A.-based EV charging station company, is set to install a network of 350kW fast charging stations in Pennsylvania.
- Boosted Commerce has named Amazon veteran Steve Oliver as its new president to manage the L.A. company's slate of acquired brands.
- L.A.-based consumer data company, mePrism, has appointed Jack Cox to lead the launch of its consumer app.
- The U.S. Air Force is recruiting the help of Mira, an L.A.-based augmented reality company, to use its AR headset technology to address maintenance issues.
- Four astronauts aboard the NASA Crew-2 mission using a SpaceX capsule are set to descend into Earth on Monday night.
- One union-affiliated pension fund advisor for Rivian says the company is falling to address environmental and human rights risks.
- The Los Angeles Cleantech Incubator, or LACI, is now accepting applications for its April 2022 incubator program cohort.
Researchers like Dr. Greys Sošić of the University of Southern California, whose focus includes supply chain sustainability, called the rise in clean tech investments "commendable," but urged a holistic approach.
"I am wondering what is happening with the rest of their investments? Are there any trends toward reducing investments in "dirty" startups? Until this happens, we cannot make a lot of progress," said Sošić. "Just adding some clean tech startups in one's portfolio, without doing additional changes, looks more like greenwashing than a serious effort to help the environment."
The federal government is changing its attitude toward psychedelic-based drugs. Mike Dow from Field Trip Health and cannabis company Kurvana CEO Mehran Moghaddam believe that this shift will change the course of mental health treatment as the drugs become more accepted for medicinal use.
B2U Storage Solutions has found a use for the tens of thousands of electric vehicle batteries no longer in use: transform them into clean-energy storage. The Santa Monica-based company is creating an 8.5 megawatt solar power plant in the Lancaster desert using discarded EV batteries. B2U CEO Freeman Hall is making a pitch that the batteries should be given a second life before they're recycled.