Elena and Nico discuss “What is ClimateTech?”
Before ClimateTech, there was CleanTech… an infamous category of startups that “cleaned-up” the world, and is now lovingly referred to as ClimateTech 1.0. CleanTech was focused on basic research for clean technologies, such as high-efficiency solar panels and biofuels. Billions of dollars were invested, and hard-tech is hard, and the investor returns were less than stellar.
Now, the industry is called ClimateTech, and is greatly focused on software solutions for the climate. There are still hardware startups, yet they are ready for scaling and not focused on the basic R&D of a technology.
The CEO of Blackrock said that the next 1000 billion dollar startups will be in climate tech, so what does that mean?
A ClimateTech company is a company that is directly or indirectly reducing greenhouse gas emissions. There are so many ways to do this, and so there are so many types of ClimateTech companies.
PriceWaterhouse Coopers (PWC) State of ClimateTech 2021: https://www.pwc.com/gx/en/services/sustainability/publications/state-of-climate-tech.html