Los Angeles has hit a major milestone in its quest to decarbonize the city’s power supply. The 60% clean energy benchmark is the latest hit as part of Mayor Garcetti’s pledge to attain a 100% carbon-free grid by 2035. The city says it has more than doubled its share of electricity coming from renewable sources since 2013, exceeding state targets.
Here’s what else we’re reading in the news:
- TikTok takes its teen safety measures global.
- Education and creator platform Encantos moves into NFTs.
- The Milken Institute and Motsepe Foundation announced the finalists for its agritech prizes, which are focused on increasing economic value for African farmers.
- Green aviation startup Universal Hydrogen partners with aircraft-leasing company Elix Aviation.
LA Now Gets 60% of Its Energy From Carbon-Free Sources
The addition of a new wind farm in New Mexico called the Red Cloud Wind Project boosts the LADWP’s clean energy portfolio by 6%, pushing the department above the 60% threshold on carbon-free energy sources.
Virgin Hyperloop Lays Off Half Its Staff
The Los Angeles-based company confirmed that it has laid off 111 people, with the job cuts meant to allow it “to respond in a more agile and nimble way and in a more cost-efficient manner” as it shifts its focus from passengers to cargo.
Netflix Is Bringing Its TikTok-Like Comedy Feed to TVs
The streaming giant is rolling out its Fast Laughs feature on its TV app. The short-form video feature, once only available to mobile users, lets viewers scroll through clips from Netflix’s extensive comedy catalog.
$64 Million for Healthier Cottage Cheese
Irvine-based Good Culture, which makes all-natural cottage cheese free of stabilizers and preservatives, announced a $64 million funding round led by nutrition-focused investment firms—with some help from actress Kristen Bell of “The Good Place” fame.
🎧Listen Up: MCJ’s Cody Simms on Investing in Climate Tech
MCJ Collective's Cody Simms joins this episode of the LA Venture podcast to discuss what he sees ahead for climate change technologies. "If you were an entrepreneur, and you open the financial model of the Earth, you would say, ‘This doesn't work, I'm not going to invest in this thing. Because we are basically living off of venture capital dollars and haven't figured out how to sustain ourselves,’" he said.