Amazon Invests In EV Charging Startup, Climate Tech Companies

Amazon.com Inc AMZN has invested in three more startups in its $2 billion Climate Pledge Fund.
Amazon has backed 11 companies across several industries, ranging from manufacturing and energy generation to food and agriculture to date.
One of the new recipients is Resilient Power, developing electric vehicle charging technology with a smaller footprint and is quicker to install than comparable systems.
Amazon said the startup will help further the company’s own goals of deploying 100,000 electric delivery vehicles by 2030. Amazon has contracted Rivian Automotive to produce those EVs.
Amazon also invested in CMC Machinery, which makes boxes designed to fit the exact dimensions in each order, eliminating the need for single-use plastic padding.
Amazon increased its investment in Infinium, which has developed ultra-low carbon fuels that serve air transport, marine freight, and heavy truck fleets to replace fossil-based diesel and jet fuels.
Previously, Amazon reported investing from hundreds of thousands to millions of dollars in each startup, CNBC reports.
Amazon previously indicated that the $2 billion earmarked for the fund is an “initial commitment,” signaling it could grow.
Climate tech startups have already raised $32 billion so far in 2021, as per Dealroom.
Price Action: AMZN shares closed higher by 0.49% at $3,392.49 on Wednesday.