Cambridge University Climate Tech Startup poised to revolutionize emission-reducing ways in supply chains
Neutreeno is a climate tech startup at the University of Cambridge that has just received an influx of $5 million from investors that are willing to help businesses get to net-zero. They have developed some innovative technology that supports the reduction of supply chain emissions and Scope 3 emissions as they call it. Scope 3 constitutes the toughest emissions for a business to control and reduce since it is those sourced from indirect sources such as suppliers and transportation sources.
Scope 3 Emissions Challenge
Mostly, scope 3 has formed the backbone challenge for most business organizations in a quest to meet their decarbonization targets at 2030. It forms the majority of the carbon footprint for any given company but is also the most challenging to track and subsequently reduce in effective ways. In a very complex supply chain with thousands of suppliers and various stages of production, primary value-chain data collection is challenging, while the way energy and materials flow across the whole chain is complicated. Traditional solutions to reduce emissions are very costly and, therefore, often challenging for companies to adopt.
Innovations at Neutreeno
Neutreeno’s tech is a research-based system aimed to make the tracking and reduction of emissions across complicated supply chains easier. A system by the startup can deliver companies insights into how energy and materials move through their supply chains. It is quite affordable and scalable for all business sizes and industries.
It comes especially as a relief for companies that face increasing pressure to quickly decarbonize. In fact, with the tightening of climate goals, enterprises urgently require efficient solutions that can be rolled out immediately. Neutreeno’s system is, after all, the most effective way of tracking and reducing emissions, even with thousands of suppliers. That makes it the most significant tool for large supply chain businesses aiming for net-zero by 2030.
Support from the Industry
Some big vehicle manufacturers, like Scania, have also been positive about Neutreeno’s technology. They see it in a place where it could answer one of the most pressing sustainability concerns of most industries. An example of this is how Scania explained that they have a very big supply chain, and they need a solution that would really handle emissions well so that their environmental effects can be properly reduced. One of the biggest contributors to the emissions is transport, which makes solutions like Neutreeno vital for showing meaningful progress toward sustainability goals.
Important Achievements in Emissions Reduction
Neutreeno’s technology already yields great results. For one case, the company was able to assist a client in reducing emissions by 35% for a supplier within a month. Such rapid pace of progress argues the importance of the technology toward becoming widely impactful for businesses that are keen on slashing their carbon footprint.
It will be a ‘game-changer’ for those companies facing the challenge of Scope 3 emissions reduction. Many firms have set ambitious climate targets but have failed to meet most of them, especially the issues involved in dealing with suppliers’ emissions. Neutreeno mitigates some of these challenges and thus helps businesses in making it easier to track and reduce their emissions quickly as well as efficiently.
Investment to Drive Growth
Funding would equally spur the advancement and implementation of the technology to an amount of five million dollars raised from investors. It simply means that with funding, Neutreeno can expand its reach in allowing more businesses to address their decarbonization needs.
The company is led by the CEO Dr. Spencer Brennan along with a team of climate experts having decades of experience. Their focus in the leadership is on scaling technology that would reach more people, as well as provide impactful solutions for businesses of all sizes.
Investment Attraction for the Low-Carbon Transition
Investments in climate tech solutions are accelerating much faster as pressure on businesses to decarbonize increases. So, in that respect, investors look for innovative technologies that could help businesses transition into a low-carbon economy. Neutreeno’s technology falls right in line with this trend: affordable and as effective in reducing emissions for businesses as it could be in helping them meet their climate goals.
According to Michael Smith, a Regeneration investor, technology developed by Neutreeno could help millions of businesses cut their emissions and access a growing pool of funds available for the low-carbon transition. Businesses that can prove their actual progress in decreasing their emissions are likely to attract investment and stay ahead of the competition in a market that is increasingly caring about sustainability.
Conclusion
So, Neutreeno’s tech innovation will therefore be instrumental for businesses to help them realize their net-zero targets. The startup has actually simplified the process of tracking Scope 3 and presents a very useful tool for companies facing the challenge of decarbonizing supply chains. With its new funding of $5 million and the industry leaders such as Scania by its side, Neutreeno is indeed well set to expand its influence and help more businesses achieve their climate goals.
The need for decarbonization is urgent with worsening climate crisis. In this area, Neutreeno provides a cost-effective and scalable solution, empowering companies with means to act to reduce emissions in contributions toward a much more sustainable future.
Source: Neutreeno