🌊 Currents #2 – Powering the Future, Reshaping the Present
From data centers and climate resilience to groundbreaking investments, we’re shaping a more sustainable future—one innovation at a time.
As we dive into 2025, our focus remains clear: backing high-impact, thesis-driven investments that align with our vision for transformative climate solutions. In this edition, we highlight our latest investments—Spora and Unblock Global—alongside key market trends shaping the future of climate resilience, energy efficiency, and digital infrastructure.
We also explore the booming demand for data centers, the urgent need for climate adaptation technologies, and why both trends are driving major opportunities in the climate tech investment landscape. Plus, we share some exciting updates from our portfolio companies and a look ahead at the major events we’re attending, from VC Latam Summit in Miami to SF Climate Week and Climatech Innovation Summit in Chile.
Let’s build the future together—one investment, one innovation, and one bold step at a time. 🚀🌱
💼 Portfolio News and Highlights
As we embark on this 2025, we are embracing a thesis-driven investment strategy, ensuring that each company we support aligns with our strategic vision for transformative climate solutions. We are also spending time on opportunities within the existing Sunna portfolio, bringing additional backing to companies where our single LP has already invested. This approach strengthens our commitment by reinforcing high-potential ventures while ensuring deeper engagement and alignment with our long-term impact goals.
This strategy is reflected in our latest investments. Spora, part of our existing portfolio, is revolutionizing sustainable materials with mycelium-based alternatives to plastics and leather, driving the shift toward circular economy solutions. Meanwhile, Unblock Global aligns with our thesis-driven approach, particularly in the intersection of climate and data centers, as it tackles flare gas mitigation by converting wasted natural gas into valuable energy applications. These investments exemplify our focus on scalability, impact, and innovation, as we continue to build a portfolio that accelerates the transition to a cleaner, more sustainable future.
🍄 Spora
Spora is an innovative climate tech company leveraging mycelium-based technology to develop next-generation alternatives to traditional materials. By harnessing the natural properties of fungal networks, Spora produces biodegradable and carbon-negative products that serve as viable replacements for plastics, leather, and packaging materials. Their solutions provide high-performance, durable materials that meet industry standards while significantly reducing environmental impact.
Investing in companies advancing bio-textiles, such as mycelium-based leather, aligns with the rising consumer demand for responsible and ethical products. Spora’s approach directly addresses key challenges like animal welfare, resource-intensive production, and pollution, positioning itself as a leader in the shift toward regenerative materials.
Led by a visionary team, Spora is committed to transforming the textile and materials industry through innovation and scalability. Their focus on nature-based solutions and circular economy principles underscores a clear mission: to drive meaningful change in how materials are sourced and produced, reducing reliance on resource-intensive processes and fostering a more sustainable future.
🔥 Unblock Global
Unblock is revolutionizing flare gas mitigation by transforming wasted natural gas into valuable energy applications. Using modular and scalable technology, the company enables oil and gas producers to cut methane emissions, lower their carbon footprint, and meet regulatory standards. Their innovative approach turns stranded gas—typically flared or vented—into a productive resource for power generation, data centers, and industrial applications, converting an environmental burden into an economic asset.
Investing in Unblock presents a high-impact solution to the climate and health hazards of gas flaring. Methane, which has 86 times the warming potential of CO₂, often escapes unburned during flaring operations, contributing significantly to emissions. By capturing and repurposing this gas, Unblock not only mitigates environmental damage but also unlocks new economic opportunities in energy-intensive industries.
At the heart of Unblock is a mission-driven team dedicated to advancing climate solutions through practical and scalable innovation. The company’s CEO, with over 15 years of experience in climate-focused initiatives, brings deep expertise and commitment to the fight against emissions. By tackling one of the most pressing challenges in methane reduction, Unblock Global is accelerating the transition to a cleaner and more responsible energy sector.
PortCos Highlights
Andes Bio has been selected by Boston Consulting Group (BCG) to be part of its carbon removal portfolio, highlighting Andes’ innovative approach to microbial carbon mineralization in agricultural fields. This collaboration underscores BCG’s commitment to advancing diverse carbon removal technologies to meet global climate targets.
Solara has announced a strategic partnership with bono, an innovative platform that digitizes incentives for sustainable actions. This collaboration aims to combine clean, affordable solar energy with advanced digital tools to measure, certify, and reward sustainable practices, enabling companies to reduce their carbon footprint while enhancing profitability.
💰 Market Perspectives
💻 Datacenter Boom
The rapid expansion of data centers, fueled by AI, cloud computing, and digital services, is driving unprecedented energy demand and straining power grids globally. By 2030, data center capacity is expected to grow 19–22% annually, with AI-ready infrastructure projected to rise by 33% per year. However, power shortages and infrastructure bottlenecks are creating delays of over three years in some regions, while sustainability challenges—such as cooling inefficiencies and water consumption—add to operational costs. Latin America is emerging as a key growth market, with over $2 billion in data center investments projected in 2024.
To meet growing energy needs sustainably, new approaches are gaining traction, including flare gas-to-energy solutions, AI-driven efficiency software, and renewable energy integration. Innovations in liquid cooling, immersion cooling, and grid-independent power systems are helping reduce costs and environmental impact. Despite emerging technologies like DeepSeek making AI more efficient, demand for high-performance data infrastructure is only expected to rise, reinforcing the critical need for energy-efficient, scalable solutions in the sector.
Considering these trends and our thesis-driven investment strategy, we see a strong opportunity in solutions that address energy constraints for digital infrastructure. This is why we invest in companies like Unblock Global, which align with the growing need for scalable and sustainable energy alternatives to power the expanding data economy.
🌱 Climate Risk and Resilience Tech
Climate change is no longer a future threat—it’s a financial and economic reality, driving extreme weather events, infrastructure vulnerabilities, and escalating adaptation costs. Rising global temperatures are fueling stronger hurricanes, prolonged droughts, and catastrophic flooding, leading to billions in economic losses. Yet, only 46% of climate-related damages are insured, leaving governments and businesses exposed to growing financial risks. Latam, one of the most climate-vulnerable regions, faces severe adaptation gaps, making resilience a critical priority for long-term economic stability.
Technology-driven solutions are emerging to bridge these gaps, with AI-powered early warning systems, climate risk modeling, and parametric insurance providing scalable adaptation tools. The parametric insurance market alone is expected to grow from $14.8B in 2023 to $35.6B by 2032, highlighting the rising demand for financial resilience mechanisms. Additionally, resilient energy microgrids are gaining traction, addressing the $50B+ market for decentralized power in disaster-prone regions. As the adaptation market matures, investment in climate resilience is shifting from an underfunded necessity to an economic opportunity, reinforcing the need for scalable, high-impact solutions.
🌎 Networking
Fusion X – February
Managing Partner Luis Arbulú participated in Fusion X, an event that brought together innovators, investors, and industry leaders to explore the future of fusion energy and its role in deep-tech, climate, and decarbonization strategies. Held at the Computer History Museum in Silicon Valley, the event featured discussions on the commercialization of fusion, investment trends in next-gen energy, and the evolving supply chain needed to scale fusion technologies. With fusion gaining momentum as a potential game-changer in clean energy, Fusion X provided a unique platform to connect with pioneers shaping the future of this transformative sector.
During the Fusion X event, a significant development was highlighted: Commonwealth Fusion Systems (CFS) and Type One Energy – both part of Sunna’s portfolio – announced an agreement granting Type One Energy exclusive rights to utilize CFS’s high-temperature superconducting (HTS) cable technology in developing stellarator fusion magnets. This collaboration aims to accelerate the commercialization of fusion energy by combining CFS’s expertise in HTS magnets with Type One Energy’s innovative stellarator designs, potentially transforming the future landscape of clean energy.
🔜 Upcoming
VC Latam Summit – March
Luis will be attending the VC Latam Summit in Miami, one of the biggest gatherings of venture capital leaders focused on Latin America’s booming startup and investment ecosystem. Bringing together GPs, LPs, and top investors, this event is a key platform to discuss growth opportunities, emerging trends, and the evolving VC landscape in the region. As we continue strengthening our presence in Latam’s climate tech space, this summit is an incredible opportunity to connect, exchange insights, and build strategic partnerships.
SF Climate Week – April
We will also be in San Francisco for SF Climate Week, one of the most dynamic gatherings of climate innovators, investors, and changemakers. With 450+ events across the city, this decentralized week of action is a hub for discussions on everything from climate finance to breakthrough technologies and policy shifts. SF Climate Week is all about optimism, urgency, and collaboration, making it the perfect place for us to engage with founders, investors, and ecosystem players shaping the future of climate solutions.
Chile ClimaTech Innovation Summit – April
Our Chile-based Sunna team will be attending Climatech Innovation Summit, the country’s premier event for climate technology and sustainability innovation. With disruptive climate startups, expert panels, and cutting-edge solutions on display, the summit showcases Chile’s growing leadership in Latam’s climate tech landscape. As we continue to support high-impact ventures in the region, we’re excited to connect with entrepreneurs and investors driving sustainable transformation in Latin America.