Every week our researchers go through the top tech innovation headlines and provide their analysis on important updates, trends, and developments across all industries. Our analysts evaluate news based on potential importance ranking the developments from Truly Disruptive to Ignore.
On Fridays we highlight our Lux Take on the news for the week. Check out our thoughts on the latest emerging technology and innovation news for this past week below.
Newlight Technologies completes $45 million Series F for scale-up of methane-to-PHB technology
Kristin Marshall, Senior Research Associate | @KMarsh4Bio
Lux Take: Very Important
"After several years of operating in stealth, Newlight is back in the spotlight. The company has made a series of announcements over the past few weeks surrounding the commissioning of a commercial production plant called Eagle 3 and the launch of two product lines for the food service industry. The funding will support the company's continued growth as it looks to address rising concerns surrounding plastic waste, especially in oceans – with its PHB being certified marine biodegradable. Following RWDC Industries' $133 million Series B round in May, this news signals that investors have not been soured on PHAs despite notable upsets from players like Bio-on."
ArcelorMittal commits to carbon neutrality by 2050
"The company intends to decarbonize existing steelmaking operations with biomass and CO2 utilization technologies in the near term and eventually deploy hydrogen-based direct reduced iron (DRI) steelmaking at scale. The company joins Thyssenkrupp, which also committed to carbon neutrality last year – we expect further steel giants to make similar commitments in the near future."
Ÿnsect snags $375 million Series C, escalating the buzz around insect protein
Laura Krishfield, Research Associate | @LKrishfield
Lux Take: Very Important
"Mealworm producer Ÿnsect has raised an additional $224 million for its $148 million Series C, bringing the round to $372 million in total. Investors of the latest funding include Upfront Ventures and celebrity Robert Downey Jr.'s FootPrint Coalition. From its first Series C announcement, Ÿnsect planned for a commercial-scale facility that would produce 20,000 MT of protein per year. The facility is now anticipated to produce 100,000 MT per year as early as 2022. Few insect protein companies have claimed expectations of reaching a production scale that comes close to this, and those that have displayed significantly less funding; if Ÿnsect pulls this facility off, it will be a precedent for the funding required to reach this scale.
Boston Dynamics CEO Marc Raibert says energy storage is limiting factor for humanoid robots
- Executive Summary: The Food Company of 2050