2023 Impact Report: Driving Solutions to Global Challenges
In 2023, Pangaea Ventures continued its mission of investing in hard tech solutions that address some of the most pressing global challenges. Despite a volatile global landscape marked by economic instability, rising greenhouse gas emissions, and food and water insecurity, Pangaea’s portfolio companies made significant strides toward building a sustainable future.
Climate and Carbon Impact
One of the most notable areas of impact in 2023 was in carbon emissions reduction. With global CO₂ levels reaching record highs, our portfolio companies worked to mitigate these effects. In 2023 alone, Pangaea's portfolio companies reduced 3.5 million tons of CO₂, contributing to our long-term goal of cutting 55 million tons by 2030. Through innovations in carbon utilization and carbon capture, companies like CarbonCure and Ardent Technologies are leading the way in reducing emissions from heavy industries. Ardent’s membrane technology, for example, offers a low-energy, scalable solution to capturing point source carbon emissions from industrial processes, bringing us closer to a low-carbon future.
Food Production
The world faces a growing food crisis, with 333 million people experiencing acute food insecurity in 2023. To combat this, Pangaea has continued to invest in technologies that improve food production and security. In 2023, portfolio companies increased food production by 2.7 million tons, far surpassing previous years. These companies are driving innovations that not only increase crop yields but also reduce the need for water and fertilizers, contributing to both environmental sustainability and food security.
Water Security
Water scarcity continues to threaten billions of people globally. In response, Pangaea’s portfolio companies saved 6.5 billion cubic meters of fresh water in 2023. Solutions that reduce water consumption in agriculture and industrial processes, such as Biodel’s regenerative agricultural technologies, are helping conserve this precious resource. By 2030, Pangaea aims to save 153 billion cubic meters of water worldwide, ensuring access to clean water and supporting the resilience of agricultural systems.
Health Outcomes
Human health remains a central focus of Pangaea’s impact strategy. In 2023, our portfolio companies contributed 20,351 Quality Adjusted Life Years (QALYs), a metric that reflects both the quality and longevity of life gained through health interventions. Companies like Aspect Biosystems are driving this impact by developing cutting-edge technologies for diabetes care, potentially reducing long-term complications and healthcare costs. The transition to QALY metrics has allowed Pangaea to better quantify the lasting health benefits of these innovations.
Looking Ahead
As we continue into the decade, Pangaea Ventures remains committed to driving impact across climate, food, water, and health. The 2023 progress serves as a testament to the power of hard tech and impact investing. Our work is far from over, but we are encouraged by the successes of our portfolio companies and their growing contributions to a more sustainable, healthier world.
By 2030, Pangaea Ventures aims to significantly increase its contributions across all sectors, pushing the boundaries of what hard tech can achieve. With each investment, we not only drive innovation but also inspire change, motivating others to join in the journey toward a more sustainable future.
Together, we invest in impact.
For more details on Pangaea’s 2023 accomplishments and future goals, read the full version of our Pangaea Ventures 2023 Impact Report.
