Bridging Climate Capital and Tech

After mapping over 850 members of Climate Crew's Sydney network (CC.SYD), I've confirmed a key pattern: The success of our climate transition will not be defined by a single 'hero' technology. It will be defined by the speed and quality of our connections. A brilliant solution in a silo is a failed solution. A fund with no one to deploy to is just a number. The real 'work' is done by the connectors – the people who build the 'soft infrastructure' that allows capital, ideas and talent to flow. This is why I'm launching the 'Climate Catalysts' series: to spotlight the movers and shakers who are doing this critical, connective work. For this first post, I'm sharing my 'A-Team' of leaders doing the 5 essential roles required to turn an idea into real-world impact. 1. The Strategist: This is our 'why'. We need leaders like Linda Romanovska, who operate at the highest level to write the rulebook for sustainable finance (for the EU and EFRAG) that guides the entire market. (Also learn about Victoria Whitaker and Thierry Lotrian in the carousel.) 2. The Architect: This is our 'where'. We need community builders like Mark Rowland, who design the 'soft infrastructure' (like Climate Action Week Sydney) for all the other roles to connect and collide. (Also learn about Tony Gourlay and Anita Kolni in the carousel.) 3. The Funder: This is our 'how'. We need 'smart capital' from people like Priyanka K., a 'new guard' climate tech investor who finds, funds and provides commercial advice to early-stage startups. (Also learn about Geoff Sinclair and Mac Christopherson in the carousel). 4. The Ecosystem Builder: This is our 'engine'. We need program leaders like Mick Liubinskas (Climate Salad, Startmate), the 'godfather' of the startup ecosystem who builds the entire network for climate tech. (Also learn about Elisa-Marie Dumas and Dane Murray 👨🏼🚀 in the carousel.) 5. The Corporate Champion: This is our 'gateway'. We need in-house champions like Abigail Thomas, the Head of Sustainability at SBS, who leads real-world implementation and unlocks corporate scale to 'pull' innovation into the mainstream. (Also learn about Giselle N. and Nathan Robertson-Ball in the carousel). The pattern is clear: when these 5 roles are present and connected, solutions get built. When one is missing, good ideas get stuck. Who is a key 'connector' in your network? Tag a leader who you see bridging these roles. #ClimateAction #ClimateCommunity #ClimateLeadership #ClimateCrew #ClimateTech

Caution: Unpopular observation incoming. Are we thinking about climate tech all WRONG? I started my career in clean-tech in 2008 (solar, wind, then grid-scale storage). So many tech folks I met since then think climate tech is about breakthroughs. But one founder made me question everything. Let me take you back to 2012. I was analyzing battery technology startups (does anyone remember zinc-air?), watching charismatic founders pitch their "breakthrough innovations" to eager VCs. What did the Chinese do? Go for Li-Ion. In solar, the Germans bet on thin-film, but the Chinese INDUSTRIALIZED mono and poly-crystalline by 2008. The result? Billions were wasted on breakthrough promises. Fast forward to today, and the same pattern is repeating in clean building materials and carbon capture. The secret to scaling clean-tech innovation is systems engineering and radical industrialization, with improved—not breakthrough—chemical bonds. And that’s what I look for—I just don’t see it often. One such moment was when I met neustark way back when (which means "new powerful" in English). As we dove deeper into their approach, something struck me. The real trap isn’t backing the wrong technology. It’s being seduced by shiny promises of breakthroughs when the real opportunity is industrial execution. The German idiom: "The sparrow in your hand is better than the dove on your roof." Climate tech funding too often gets misallocated on huge promises, while the biggest impact comes from system integration. What policymakers should foster: - Scientific Hopium vs. Industrial Reality: Most VCs chase patents, but real winners build scalable systems with proven tech. - The Integration Game: Innovation isn’t just about new components—it’s about making them work together at scale. - Market Timing: We don’t always need future tech to solve today’s problems. The pieces are often already there. Neustark is a perfect example: - Partners with existing concrete recycling plants to integrate carbon storage. - Mineralizes captured CO₂ into recycled concrete aggregates, locking carbon in solid form. - Scales rapidly without new infrastructure—just plugging into existing systems. A system that could store millions of tons of CO₂ in the coming years. Not through hoping for groundbreaking chemistry, but through brilliant industrialization. I’m not against fundamental research—give us more of that. But why should VCs with no scientific background allocate capital into chemical breakthroughs? Change my mind. >>>>>> More on The System Integrator Model: https://lnkd.in/em9v73cy #CleanTech #VentureCapital #Sustainability #Innovation #ClimateAction P.S. Not an investor in Neustark, just genuinely impressed.

🌍 Proud to share: one week before COP30 begins in Belém: The Green Digital Finance Alliance discussion paper, "𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗜𝗺𝗽𝗮𝗰𝘁 𝗕𝗼𝗻𝗱𝘀: 𝗪𝗵𝗲𝗿𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗠𝗲𝗲𝘁𝘀 𝗧𝗲𝗰𝗵 𝗳𝗼𝗿 𝗜𝗺𝗽𝗮𝗰𝘁" Our paper examines how digitalization, encompassing 𝗥𝗪𝗔 𝘁𝗼𝗸𝗲𝗻𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝘀𝗺𝗮𝗿𝘁 𝗰𝗼𝗻𝘁𝗿𝗮𝗰𝘁𝘀, 𝗮𝘀 𝘄𝗲𝗹𝗹 𝗮𝘀 𝘃𝗲𝗿𝗶𝗳𝗶𝗲𝗱 𝗶𝗺𝗽𝗮𝗰𝘁 𝗱𝗮𝘁𝗮 (𝗱𝗠𝗥𝗩), can help bridge the $6 trillion annual gap in climate, biodiversity, and sustainable development finance. The paper, co-authored by Jannika Aalto, Katherine Foster, Sanjay Narayanan, and I provides an overview of 𝗰𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲𝘀 𝗼𝗳 𝗹𝗮𝗯𝗲𝗹𝗹𝗲𝗱/𝘁𝗵𝗲𝗺𝗮𝘁𝗶𝗰 (𝗴𝗿𝗲𝗲𝗻/𝗯𝗹𝘂𝗲, 𝗲𝘁𝗰.) 𝗯𝗼𝗻𝗱𝘀, 𝗽𝗿𝗼𝗺𝗶𝘀𝗲𝘀, 𝗮𝗻𝗱 𝗳𝗶𝗻𝗱𝗶𝗻𝗴𝘀 𝗳𝗿𝗼𝗺 (𝗗𝗟𝗧-𝗯𝗮𝘀𝗲𝗱) 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝗯𝗼𝗻𝗱 𝗽𝗶𝗹𝗼𝘁𝘀, and elaborates on the potential to create a 𝗻𝗲𝘄 𝗰𝗹𝗮𝘀𝘀 𝗼𝗳 𝗵𝗶𝗴𝗵 (𝗶𝗺𝗽𝗮𝗰𝘁)-𝗶𝗻𝘁𝗲𝗴𝗿𝗶𝘁𝘆 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗶𝗻𝘀𝘁𝗿𝘂𝗺𝗲𝗻𝘁𝘀, by integrating 𝗱𝗶𝗴𝗶𝘁𝗮𝗹𝗹𝘆-𝗺𝗲𝗮𝘀𝘂𝗿𝗲𝗱, 𝗿𝗲𝗽𝗼𝗿𝘁𝗲𝗱, 𝗮𝗻𝗱 𝘃𝗲𝗿𝗶𝗳𝗶𝗲𝗱 (𝗱𝗠𝗥𝗩) 𝗱𝗮𝘁𝗮. 🔹 Digital bonds can reduce costs, speed up settlement, and open markets to smaller issuers and investors. 🔹 Early pilots from Asia and Europe show real efficiency gains and potential for real-time impact tracking — but highlight the need for more liquidity, harmonised regulation, and robust digital verification systems. 🔹 Without deliberate action, digitalisation risks widening existing inequalities. Inclusion must remain a core design principle. ✅ 𝗢𝘂𝗿 𝗿𝗲𝗰𝗼𝗺𝗺𝗲𝗻𝗱𝗮𝘁𝗶𝗼𝗻𝘀: 1. Develop interoperable protocols integrating verified impact data across global frameworks (EU Taxonomy, ICMA, CBI, TNFD, ISSB). 2. Build capacity for smaller issuers and Global South actors. 3. Create fair funding models for digital MRV and verification. 4. Expand pilots with real use-of-proceeds tracking and transparent disclosure. 5. Integrate efficient impact verification into digital finance tools. 6. Track market progress with clear, shared metrics. 7. Strengthen collaboration and open knowledge exchange. We are looking to explore further the potential of "digital impact bonds" (a term we chose to indicate the strong (verified) impact focus of the 𝗻𝗲𝘅𝘁 𝗴𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝗼𝗻 𝗹𝗮𝗯𝗲𝗹𝗹𝗲𝗱 / 𝘁𝗵𝗲𝗺𝗮𝘁𝗶𝗰 𝗯𝗼𝗻𝗱𝘀, building on the great work done by initiatives such as ICMA - International Capital Market Association, Climate Bonds Initiative, International Sustainability Standards Board (ISSB), and leverage the creative force of both "incumbents" and "emerging players" in the digital bond space. 🔗 Read the discussion paper: https://is.gd/bivYdz Jannika Aalto Alexander (Sasha) Wiese Leiming Chen Nicholas C. Niggli Florian Kemmerich Natalie Paida Jabangwe, MBA DIC Katherine Foster Marianne Haahr Green Fintech Network Titia Sjenitzer Pierre CG ROUSSEAU Torsten Thiele Wei Ng James Vaccaro Anja Ludzuweit Julien Martin Alexey Shadrin Adam Billing

Al Gore's Just Climate fund raises $175M from Microsoft and CalSTRS to back climate startups #JustClimate, the climate-focused #VC firm backed by Al Gore’s Generation Investment Management, has raised $175 million from Microsoft’s Climate Innovation Fund and CalSTRS to accelerate nature-based climate investments. While climate finance has historically prioritized energy and transportation, Just Climate is shifting focus to natural solutions such as reforestation, biological fertilizers, and biodiversity protection technologies—critical areas that remain underfunded despite their potential to reverse emissions and restore ecosystems. This #fund expands Just Climate’s investment strategy beyond industrial climate solutions to include agriculture, forestry, and land-use change, which contribute to 15% of global emissions. The firm has already made its first investment, leading the Series B round for NatureMetrics, a company using eDNA technology to assess biodiversity. By directing capital towards restoration finance platforms and carbon verification technologies, Just Climate aims to bridge the gap in funding for nature-based solutions while delivering measurable climate impact. With major backing from institutional investors like Microsoft and CalSTRS, this fund signals a growing recognition that nature is a powerful—and investable—tool in the fight against climate change. The article on TechCrunch in the first comment.

From Peru to private equity: Lessons from Fernando’s path into climate tech investing with $50M+ per company... In my "Climate Tech STartups and Investors" course at Duke University, we recently heard from Fernando Saavedra, CFA, a VP at Decarbonization Partners — a $1.4B joint venture between BlackRock and Temasek focused on scaling late-stage climate tech companies. Decarb’s strategy is to lead $25M–$75M checks in growth-stage climate companies with proven tech and serious traction—helping them scale and, ideally, exit within 4–6 years. -- His career journey and investing insights were 🔥. Here are 5 insights that stuck with me: ☑️ Your path won’t be linear—and that’s okay. Fernando started in microfinance in Peru, moved into pension fund investing, then pivoted through an MBA at Duke University - The Fuqua School of Business and investment banking at Evercore before landing in climate tech VC. Translation: “Zigs and zags” are normal. Play the long game and stay adaptable. ☑️ Diligence ≠ just tech, it’s about execution. Decarb Partners doesn’t take tech risk—they invest when a company is ready to scale, not still proving it works. Instead, they evaluate execution risk: revenue traction, customer contracts, and team capability. If no one’s buying your “breakthrough,” it’s not investable—yet. ☑️ Impact and returns aren’t tradeoffs—they’re dual gates. Each investment must clear both hurdles—financial return AND climate impact. Decarb quantifies GHG reduction potential through lifecycle assessments (LCAs) and brings in third parties to verify the math. As Fernando put it: “We’ve passed on great return profiles with weak climate impact—and vice versa.” ☑️ Relationships matter more than pitch decks. Some of Decarb’s portfolio companies were known to the team for years before investment. Why? “You don’t get married on the first date.” Founders who build trust over time have an edge. ☑️ A mature founder mindset is a green flag. Startups that oversell timelines or chase the highest valuations get passed on. Those who embrace realistic execution plans, understand that hardware takes time, and prioritize partnership over price stand out. -- Huge thanks to Fernando for pulling back the curtain on what real-world late-stage climate investing looks like. 🙌 #ClimateTech #PrivateEquity #EnergyTransition #Decarbonization #StartupInvesting #ClimateVC

Is it smarter to build massive new carbon capture facilities from scratch, or to retrofit the ones we already have? Every day, the world produces over 100 million tonnes of desalination brine. Usually, it’s waste. Today, we’re proving it can be a climate asset. I’m proud to spread the news that Google has signed a carbon removal offtake agreement with Ebb Carbon. What I find most compelling here is the industrial ecology of it all. Ebb isn’t trying to reinvent the wheel; they are making it turn greener ;) Essentially they intercept the salty brine waste from desalination plants BEFORE it hits the ocean and run it through an electrochemical process to increase its alkalinity. I know, Science talk 🤓 This essentially supercharges the water’s natural ability to pull CO₂ out of the air and lock it away as stable bicarbonate for thousands of years. It’s a brilliant way to turn a waste stream into a climate solution without the massive capital cost of building standalone facilities. Here's a few notes about today's deal: 🟢 We are kicking things off by pre-purchasing 3,500 tonnes of carbon removal, a pilot volume that signals our long-term confidence in ocean-based solutions. 🟢 This builds on the momentum of 2024, where we signed ~16 deals worth over $100 million to help jumpstart the high-quality removal market. 🟢 The scalability here is incredible --> if deployed across the Saudi Water Authority’s facilities alone, this tech has a potential capacity of 85 million tonnes per year. 🟢 This tech leverages the ocean, which already holds 50x more carbon than the atmosphere, along the line of thought that working with nature is key to reaching net zero. For us at Google, this is about signaling that technologies integrating into existing industrial systems are the fastest route to gigaton-scale removal. The convergence of water security and climate action is the space to watch. Read more here - https://lnkd.in/epW_5XuG #Sustainability #CarbonRemoval #CircularEconomy #Google #NetZero #ClimateTech #CleanTech #IndustrialEcology

Venture Capital is not set up for Climate tech. You don't need to spend a lot of time fundraising as an early-stage startup to know this. The rate of VC funds shot up between 2010-2020, valuations were at an all-time high and we started to think we could throw money at anything and it will give us 20 to 30% return annually (IRR). Well just about anything. As long as it was SaaS. Hard tech is a whole new ball game. Green steel and CO2 capture, for example, require substantial investment at an early stage and need more time to break even and scale. VC may eventually come in and play an important role but the early capital stack for climate tech startups looks different than traditional VC-backed companies. To get to product market fit Climate tech start-ups need a combination of the following in their capital stack: -Non-dilutive project Grants: from governments, philanthropic foundations, private grants and prizes -Angel Investors / Syndicates : High net worth individuals, previous founders etc Catalytic Capital: These are funds prioritizing impact potential over financial returns -Rolling funds: funds raised on a rolling quarterly basis, minimizing the hurdle to fund launch. Typically thematically or community-focused, with similar terms to VC deals  -Accelerators/ Incubators/ Fellowships: Programs offering funding and resources such as strategic partnerships, advisors, and workshops to help founders build and iterate on their ideas and technology.  (Kinda like what we are doing with Energy Tech Nexus) You should talk to VCs, but do so knowing that many may not ready to take the cost burden until you have sufficiently derisked your solution. And if that is the case, you have other options. #founder #climatetech #VC #entrepreneurs

One of the biggest misconceptions in #ClimateTech investing is that capital alone will drive the success in this sector. But after spending time working with climate-focused founders, evaluating investment opportunities, and tracking key trends, I’ve realized that the most valuable investors bring more than just capital—they bring deep networks, real founder relationships, and the ability to unlock non-obvious opportunities. I spent over 100hours in the past month catching up with the most promising early-stage climate tech founders in Africa and emerging markets. It's not just about building a solid pipeline, but also tracking these startups to understand their unique challenges firsthand, and see where smart capital can drive outsized impact. 🚀 A few things I’ve learned along the way: ✅ The best deals don’t come from cold inbound—they come from trust. Many of the most promising climate founders I know don’t actively fundraise in traditional ways. They prioritize investors who understand the long-term commercialization journey. ✅ Sourcing is an art - The ability to identify non-obvious climate opportunities before they hit mainstream VC radars is where the alpha is. Some of the best companies I’ve engaged with are led by technical founders who need investor-partners that understand both science and scale. ✅ Support is everything - Writing the check is the easy part. But actually helping a climate startup go from lab to market, navigate regulatory complexity, and access global expansion channels? That’s where real value creation happens. Looking at firms like Planet A Ventures, Delta40 Venture Studio, Pale blue dot, and Satgana I see a common theme—they don’t just invest, they build ecosystems. ClimateTech isn’t just an investment category; it’s a once-in-a-generation opportunity to drive both transformational impact and financial returns. For me, it’s about knowing which founders are quietly building game-changing solutions, long before they hit the headlines. It’s about understanding that the right capital, at the right time, with the right support, is what turns a promising startup into an industry-defining company. #ClimateTech #VentureCapital #FounderNetworks #DealFlow #DeepTech #ClimateFinance #ImpactInvesting

You’re just a service provider - you’re not making meaningful changes on the ground. This inner voice is NOT true. I’m constantly thinking about how to step up as a strategic partner for climate action, not just as a vendor. 🤝 I know that storytelling and design play a crucial role to amplify these efforts and attract multi-disciplinary partnerships. But, how can we play a bigger role in this transition? Here are 3 organizations that have combined a core service + capital + other resources to step up their role and impact: 🌿 Sustainable Ventures ↳ Work solely with the climate community  ↳ Offer: Advice, co-working spaces, networking events, capital, and connections so founders can focus on their core technology and growth. ↳ They go beyond investment and play a role in strategy, branding, and all facets of design as well. Portfolio: ✦ Lowr- sustainability platform for organizations to log and lower their users’ emissions ✦ Sunswap - solar-powered thermal refrigeration unit for lower carbon transport 🌿 Designer Fund ↳ Offers $500K and comprehensive design support to early-stage companies, initially focussing on health, prosperity, and sustainability-related ventures. ↳ Provide design advice, build design teams, and connect founders to experts and potential angel investors. This enables climate startups to get the branding, UX, and fundraising support they desperately need. ↳ Goal: Transfer the best of traditional tech SaaS and apply those lessons to our climate challenges, build new alternatives for products rooted in unsustainable supply chains, and work toward a circular economy. Portfolio: ✦  Zero Acre Farms - sustainable urban farming technology ✦  Lumen Energy - helping buildings transition to clean energy 🌿 VSC Ventures ↳ Using media strategy and storytelling as their superpower, VSC helps climate solutions resonate with the mainstream. ↳ Their Climb communications program helps climate tech startups access the best capital, the smartest talent, and the most strategic partners. ↳ At a time when there are more climate tech companies than ever before, robust storytelling is what truly helps founders stand out and influence policymakers, investors, and partners. Portfolio: ✦ Glacier - an AI-based recycling robotics startup that is significantly less expensive than the competition ✦ concrete.ai - an AI platform that prevents unnecessary waste and effort during concrete mixing and production 💚 Climate enablers are more important than ever and there are so many ways to accelerate the transition. Firms that can play a strategic role will provide the foundation for the interventions that mitigate climate change. Who are other service providers are you seeing move beyond their core service for larger impact? Tag other climate-enablers+ service partners doing amazing climate work in the comments! ⬇️

The latest Council on Competitiveness report released seven pillars for keeping U.S. firms competitive on a global scale. Pillar 5 highlights an urgent national priority: deploying cutting-edge technologies at speed and scale to maintain the U.S.’s competitive edge. At Innosphere, I’m proud to say this has been our focus for over 20 years. We’re proud to be advancing this mission in three key ways: 1️⃣ Life Sciences Incubator - Economic Development Administration Funded over 7 States Innosphere’s Life Sciences Incubator sets itself apart by being directly accountable to the U.S. Economic Development Administration (EDA) for delivering measurable outcomes. Here’s what our most recent cohort achieved: -Created 62 full-time jobs in their first year, with an average salary of $107,000. -Secured $18.2M in funding. -Filed 5 patents and 34 provisionals, with 16 more in progress. -Built 55 strategic partnerships, with over half of participating startups forming at least one alliance. By focusing on outcomes, we’re helping early-stage startups grow, innovate, and create real economic impact. 2️⃣ NSF ENGINES: Colorado-Wyoming Engine: Digital Twins Deployment Accelerator Through our collaboration with Microsoft’s TechSpark program, we’re launching a Digital Twins Deployment Accelerator, a first-of-its-kind program designed to develop and commercialize digital twin technologies for climate resilience. This accelerator will support 8-10 startups in areas like renewable energy, water resource management, and carbon accounting - creating a new wave of innovation in climate tech. 3️⃣ Scale-Up Accelerator (Launching in 2025) Too few companies make it beyond the startup phase. That’s why we’re piloting a Scale-Up Accelerator through the NSF Engine, targeting climate tech companies ready to scale past $1M in revenue. This program is designed to bridge the gap for businesses poised for growth, ensuring they get the support they need to thrive. Innovation doesn’t happen in isolation. It requires intentional programs and partnerships that bridge industry, academia, and government. From fostering early-stage breakthroughs to scaling established businesses, Innosphere is actioning Pillar 5 by creating pathways for U.S. technology leadership.