![]() “We serve industrial companies that are still based largely on natural gas. While the surge in energy prices and the Ukraine war have contributed to economic uncertainty, they have also hugely increased the appetite for clean-energy solutions, both from end customers and investors.Ĭhristian Thiel, chief executive of Energy Nest, which manufactures thermal energy storage equipment and raised 140 million euros 18 months ago, says that awareness of the need for non-fossil-fuel energy has risen enormously. The bank’s collapse exposed the volatility of the early finance ecosystem. ![]() Silicon Valley Bank’s headquarters in Santa Clara, California. With $130 trillion of assets under management committed to net zero under the Glasgow Financial Alliance for Net Zero (GFANZ) umbrella, and hundreds of huge companies committed to decarbonising their operations, “we see huge markets for solutions that help them do this,” adds Alexandra Harbour, founder and chair of the VCA, and a principal at Prelude Ventures. With that in mind, smart VCs (venture capitalists) and founders are seeing through this immediate downturn and looking to the next one, two or three business cycles, when climate solutions will be vital.” Nonetheless, he adds: “Climate is a secular, multi-generational mega-trend and we’re at the very earliest stages of dealing with it. “Institutional investors and the tightening of monetary policy are putting the squeeze on loose and freely available, interest-free capital to throw at any good idea,” says Firger. ![]() “There’s a general sense of venture capital pulling back rather than putting their foot on the accelerator, while the SVB situation showed general partners of venture firms are not necessarily collaborating, but creating problems for firms,” says Daniel Firger, co-founder and lead advisor of the newly launched Venture Climate Association (VCA) and managing director of Great Circle Capital Advisors. On the one hand, the macro drivers for climate solutions are very positive, helped by a range of regulatory initiatives.īut at the same time, the geopolitical landscape remains volatile because of a host of factors including the war in Ukraine, high inflation rates and the failure of Silicon Valley Bank (SVB), one of the cornerstones of the early-stage finance ecosystem. May 4 - The funding landscape for early-stage clean energy companies is a mixed bag. ![]()
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