Carbon Delta AG, headquartered in Zurich, Switzerland, established their first subsidiary office in Potsdam Germany (near Berlin) on 3 September 2018, with the name Carbon Delta Germany GmbH. The German office will be mainly be used for software and model development.
Carbon Delta, an award-winning swiss fintech company, calculates and analyzes the risks and opportunities that climate change poses for investment portfolios. The company just recently closed a financing round and acquired a large number of asset managers and owners as part of a UN lead project. This ultimately led to the expansion to Potsdam, Germany.
The newly founded office will establish a specialized modeling and software engineering team and run most of the models related to extreme weather risk calculations. This includes many different weather patterns, such as the recently experienced heat wave in Europe, or the wildfires raging in various parts of the world this summer. The company uses a large asset location database to find the link between company operations and the future normal in weather patterns.
The management team of Carbon Delta faced difficulties finding enough highly qualified software engineers for the recent growth. One of the challenges in Zurich is the strong competition from internet giants like Google, IBM and CISCO – as well as the major banks with their strong IT workforce needs. Germany and Potsdam in particular proved to be a highly promising region, mostly due to the excellence and concentration of the surrounding research institutes and universities.
Carbon Delta has been closely collaborating with the renowned Potsdam Institute for Climate Change Research since 2015. With the newly opened subsidiary, the company intends to strengthen this partnership.
The German subsidiary office receives local support from the Investitionsbank des Landes Brandenburg (ILB). The ILB assists Carbon Delta Germany GmbH from the very beginning until end of 2020 through two support programs: “Gründung Innovativ” and “Brandenburger Innovationsfachkräfte”.
With the program “Gründung Innovativ”, the ILB supports young and innovative SMEs in investments, staff expenses and technical consulting and development services. The grant backed by the European Regional Development Fund supports SMEs within the first 3 years of existence. In addition, the ILB program “Brandenburger Innovationsfachkräfte” supports with grants backed by the European Social Funds the hiring of student trainees and innovation assistants.
We are very happy to have been accepted by the ILB to both grant programs, and have as a consequence been able to hire 2 colleagues. Dr. Boris Prahl has been hired as a senior climate researcher with support of the “Gründung Innovativ” as of September 2018. In addition, Anna Lensch (Master student of Meteorology at Freie Universität Berlin) will be hired as a student trainee through the support of “Brandenburger Innovationsfachkräfte”. As a research analyst, Anna’s work is focused on the analysis of impact mechanisms for climate-related natural hazards. Based on the gathered data, Anna derives mathematical relationships that are used in the parametrization and calibration of Carbon Delta’s physical risk model.