Philip Krim, co-founder of Casper, is entering the climate tech sphere by establishing Montauk Climate, an incubator for climate tech startups. With an initial capital of $8.5 million, Montauk Climate aims to drive innovation in this increasingly vital sector.
Ex-commodity trader Evan Caron and lawyer and portfolio manager Sharo Atmeh are joining Krim in this venture. They bring a unique blend of strategic vision, trading knowledge, and legal expertise to the incubator’s climate-focused mission.
Unlike many other incubators, Montauk Climate intends to develop its business models. The leadership team believes that this innovative approach sets them apart and will foster success. Their strategy extends beyond simply supporting startups and entails advocating for sustainable industry practices.
The company focuses not on hardware solutions but on launching businesses that complement these.
Casper co-founder’s new climate tech incubator
Montauk Climate will primarily target sectors such as energy, software, and infrastructure. Their goal is to aid the transition to a low-carbon economy and bridge the gaps between consumers, utilities, and renewable energies.
With the belief that the climate crisis response requires concurrent attention to technological progress and infrastructure sustainability, Montauk Climate also plans to create effective regulation strategies. The company plans to collaborate with stakeholders like local communities, financiers, and governments to enhance the adoption of renewable energy.
Once the nurtured businesses mature, the ultimate objective is to spin them off as independent entities. Montauk Climate, however, aims to retain a controlling interest and board seats. The plan for expansion includes exploring sustainable agriculture and launching nurtured businesses, possibly supported by their own venture fund, later this year.
Montauk Climate presents a unique opportunity for budding eco-entrepreneurs, offering a platform for growth in line with the global trend towards a more sustainable, low-carbon economy.
