A helping hand through the green tech ‘valley of death’

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Financial Times 13h ago

A helping hand through the green tech ‘valley of death’ - Financial Times

Quick Summary:

But as I’ve argued before, there is a risk that transition finance could focus too narrowly on providing capital to the big companies that happen to dominate those high-emitting industries today — and not enough on supporting the disruptive start-ups pursuing a radically greater pace of progress.

The US government has also been providing more support for this kind of funding under Joe Biden’s presidency, through the Loan Programs Office now led by veteran clean energy investor Jigar Shah, and the $25bn Office of Clean Energy Demonstrations.

But those venture firms are often unwilling to take the risk of funding a climate tech company’s first working plant — “first of a kind” in industry jargon — which will often cost several tens of millions of dollars or more to build.