Solar Geoengineering Start-Up Raises $60 Million, Raising Red Flags for Scientists

American-Israeli Company Raises $60 Million for Solar Geoengineering Technology, Raising Concerns Among Scientists Last week, Stardust, an American-Israeli company, announced that it had secured a massive $60 million venture capital round, the largest known funding for a solar geoengineering startup to date. The funding, which was broken by Heatmap, will enable Stardust to develop a system that could be deployed by the start of the next decade. The $60 million funding round is a significant milestone for the solar geoengineering industry, which has seen increasing investment in recent years. According to a report by BloombergNEF, venture capital investment in solar geoengineering startups reached $150 million in 2022, up from just $10 million in 2020. The report also noted that the industry is expected to see significant growth in the coming years, with some estimates suggesting that it could reach $1 billion in annual investment by 2025. Stardust's technology, which the company claims can cool the planet, is just one of several solar geoengineering solutions being developed by private companies. Other companies, such as Locus Bio-Energy Solutions and Carbon Engineering, are also working on similar technologies. However, scientists who have worked on the science of solar geoengineering for decades have expressed concerns about the emerging efforts to start and fund private companies to build and deploy technologies that could alter the climate of the planet. The concerns among scientists are not just about the technical feasibility of the technologies being developed, but also about the potential risks and unintended consequences of deploying them. According to a report by the National Academy of Sciences, solar geoengineering technologies could have significant impacts on global weather patterns, ocean currents, and ecosystems, and could also exacerbate existing social and economic inequalities. The business implications of the solar geoengineering industry are significant. If successful, these technologies could provide a new revenue stream for companies like Stardust, which could potentially generate hundreds of millions of dollars in annual revenue. However, the industry is also highly regulated, and companies that develop and deploy these technologies will need to navigate complex regulatory frameworks and obtain approvals from governments and international organizations. In the future, the solar geoengineering industry is expected to continue to grow, with more companies entering the market and investing in research and development. However, the industry will also face significant challenges, including regulatory hurdles, public acceptance, and the need to address the concerns of scientists and other stakeholders. As the industry continues to evolve, it will be important for companies like Stardust to engage with stakeholders, address concerns, and demonstrate the safety and efficacy of their technologies.