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Source: Bloomberg
Summary
Microsoft has acquired a climate tech startup to help fight carbon emissions. The acquisition is seen as a potential step towards consolidation in the carbon removal market, where removal costs remain higher than buyers are willing to pay. According to the company, the startup’s technology will help Microsoft reduce its own carbon footprint. The financial terms of the deal were not disclosed.
Our Reading
The announcement sounds ambitious.
Microsoft has acquired a climate tech startup, because what’s more effective at reducing carbon emissions than throwing money at a problem? The startup’s technology will help Microsoft reduce its own carbon footprint, because nothing says “emissions reduction” like a company talking about itself. This is the kind of solution that will make a real difference, like a drop in the ocean. The acquisition could mark the beginning of consolidation in the carbon removal market, but let’s be real, it’s just a fancy way of saying “we’re trying to make a quick buck off of climate change”.
