Investing in Resiliency

It appears certain that 2024 will be the hottest year on record and the first where average temperatures exceed the 1.5 degree celsius threshold set by the COP 21 Paris Agreement. Against this backdrop, a new report from the International Chamber of Commerce puts into perspective the significant cost we have already incurred through an unfolding global climate crisis. From 2014 to 2023, nearly 4,000 climate-driven extreme weather events caused over $2 trillion in economic damages, impacting 1.6 billion people worldwide. With the U.S. experiencing nearly $935 billion in damages alone, our vulnerability to a rapidly changing climate is clear. The report also highlights that these mounting climate events not only threaten economic prosperity but also profoundly impact public health. Both underscore Wireframe’s conviction in backing founders building solutions in the two most urgent themes of our time, climate and health.

For nearly two decades our team has focused deeply on climate change mitigation solutions that reduce or eliminate greenhouse gas emissions. As we’ve continued to experience more severe climate impacts over the past few years, it’s become clear that resiliency solutions should be incorporated into our investment scope.

Climate adaptation is, unfortunately, a growth market. And it is also a significant opportunity for technology-driven innovation. Yet we hope that as the scale of necessary adaptation investment becomes more tangible to business and society, it will also drive accelerated progress along the essential and far more cost effective path of mitigation.  

Our inaugural 2024 Impact Report highlights the work of Wireframe portfolio founders creating solutions that mitigate emissions, remove CO₂, and address resiliency. Below are three examples of Wireframe portfolio companies delivering solutions that help us adapt to a rapidly changing climate.

1. Near Space Labs: Revolutionizing Disaster Response with High-Resolution Imagery

In the wake of natural disasters like hurricanes and wildfires, access to timely data is essential for response and recovery. Near Space Labs is reimagining disaster response and assessment with a fleet of AI-enabled, zero-emission autonomous robots that capture high-resolution images from the stratosphere. They enable emergency responders to coordinate response and insurance companies to assess damage and initiate claims processing within hours rather than days or weeks. “Insurance companies are able to access information right after the catastrophe and assess damage and pay out claims within days instead of weeks,” explains CEO Rema Matevosyan. By improving response and accelerating post-disaster assessments, Near Space Labs is paving the way for faster, more resilient recovery in the face of increasing extreme weather events.

2. Gridware: Protecting Communities Through Real-Time Grid Monitoring

Wildfires and power outages caused by aging electrical infrastructure are increasingly prevalent and destructive. Gridware is addressing this challenge by equipping utilities with AI-driven sensors that detect faults in real-time, helping prevent fires and reduce outage times. With 13,000 sensors deployed across eight states, Gridware is transforming grid resilience. Co-founder Tim Barat, a former lineman, is driven by a personal mission to protect communities: “Building technology that detects these dangers early allows us to protect people and ecosystems before it’s too late.” Recently featured on CBS, Gridware exemplifies the proactive, life-saving impact that smart investment in climate resilience can deliver.

3. Salient Predictions: Advanced Forecasting for Smarter Resource Management

With climate volatility impacting critical sectors like agriculture and energy, Salient Predictions is delivering the advanced forecasting tools needed for effective planning and adaptation. Using machine learning combined with climate science, Salient generates the most accurate 2–52 week forecasts that help industries adapt to extreme temperatures, water scarcity, and other climate-related risks. “Salient is helping accelerate the energy transition, feed the next billion people, and create community resilience by predicting weather further in advance,” explains CEO Matt Stein. Salient’s technology is critical for building resilience in sectors facing the brunt of climate impacts.

Building to Win the Future

For the foreseeable future, increasing climate volatility will bring rising costs and unpredictability. This reality makes it essential for businesses and society to invest in resiliency. At the same time, many climate mitigation solutions are already riding attractive cost curves that come as technologies scale, propelling them to gain share in global markets such as power generation and transportation. We are optimistic about many newer mitigation solutions following close behind, promising superior performance and economics. Better, faster, cheaper usually wins.    

At Wireframe, we are thrilled to support extraordinary teams already shaping this stronger, more resilient, low carbon economy. If you’re building towards this future, we’d love to connect.