AI growth is causing a historic rise in electricity demand, increasing fossil fuel use and weakening climate goals, including those of major technology companies. Opposition to data centers is growing due to concerns about higher power prices and fears that AI will displace jobs. An initiative led by a nonprofit investment firm will support startups developing advanced cooling, energy storage, and low-carbon building materials. The initiative emphasizes community engagement and technologies that improve efficient use of energy and water. The firm plans to invest $500,000 to $5 million in up to 10 startups through 2027 to fund pilot projects in data centers. Tech companies will not formally commit investment dollars, but they will provide initial funding and pay annual membership fees.
"We see data centers as really important customers for entrepreneurs to commercialize technologies that we've been working on for a long time,"
"The big picture: The AI boom is driving a historic surge in electricity demand, increasing fossil fuel use and putting climate goals - including those of major tech companies - on the back burner."
"This initiative is coming at the most perfect time because the priorities they have are literally the same priorities that you're hearing from communities,"
"Elemental will invest between $500,000 and $5 million in up to 10 startups through 2027 to support pilot projects in data centers."
Read at Axios
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