First Quarter Global Funding and Deal Activity in Climate Tech Dominated by Capacity Expansion Giga and Mega Rounds

by Alder & Co. | April 10, 2024

New report released today from Net Zero Insights analyzes the current state of climate tech investment by innovation framework, deal stage, and stakeholder perspectives

LISBON/PORTLAND, Ore. — April 10, 2024 — Today Net Zero Insights, the leading market intelligence platform for climate tech, supported by Alder & Co., a purpose-driven climate tech marketing agency, released its quarterly analysis on global funding and deal activity in the private market and ventures space for Climate Tech. Key findings include:

Giga ($1B+) and mega ($100M+)-rounds contribute more than half of all funding

Entering 2024: A dive in deal activity with $1B+ rounds shaping funding (50% of total).

“As we entered 2024, large giga-rounds ($1B+) raised by Northvolt, H2 Green Steel, and ACC — Automotive Cells Company, served as remarkable outliers for this quarter representing more than half of the quarter’s total funding,” said Federico Cristoforoni, Co-Founder, Net Zero Insights. “This capital was allocated predominantly towards capacity expansion followed closely by facility construction.”

Non-dilutive capital trend continues

A quarter of funding focus into everything physical, bolstered by non-dilutive funding.

In its year-end 2023 State of Climate Tech report, Net Zero noted that resourceful entrepreneurs turned their attention to public funding opportunities and alternatives driving non-equity funding for climate tech to a historic high.

“We’ve continued to see capital stack diversification in early 2024 with a significant contribution coming from debt financing,” added Cristoforoni.

For more information, read the full report.

About Net Zero Insights

Net Zero Insights is the leading data and research platform for climate tech. The Net0 Platform provides access to thousands of startups/SMEs, deals, and investors allowing users to spot new innovations, trends and deals in the rapidly evolving world of climate technology. Investors, corporations, researchers and business developers use the platform to identify new startups and keep track of emerging trends and opportunities. Find out more:

About Alder & Co

Alder & Co. is a leading, global strategic brand marketing agency with the mission to drive the adoption of climate technologies until they become universal. Alder partners with forward-facing, innovative climate tech companies that need progressive brand & marketing strategies to drive growth, secure investment, and make the impact needed to address our generation’s most urgent crisis – our environment. Find out more:

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