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The ‘valley of death’ for climate lies between early-stage funding and scaling up
It's easier for climate companies to get enough funding to get started. It's much harder once they need money to scale.
There has been an explosion of startups in recent years that seek to electrify homes and buildings, slash pollution in industrial processes, and remove planet-warming carbon from the atmosphere. In Proterra’s case, the struggles of mass manufacturing buses were compounded by the fact that the company was also developing two other business lines, one that focused on battery systems for other heavy-duty vehicles and another that specialized in charging infrastructure for them. Over time, the thinking goes, as investors get a deeper appreciation of the risks involved in middle-stage climate tech investing, they’ll be more inclined to place bets on their own, without a philanthropic backstop.
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