![]() with a year-over-year growth rate of +1632%, translating to a total of $1.4B. From a challenge perspective, GHG capture, removal and storage was by far the fastest growing sector in the U.S. While venture capital and overall funding slowed down in the U.S., the median deal size increased significantly from $2.4M to $5.5M, a growth of 132 percent. ![]() Other mega-rounds included Northvolt, TerraWatt Infrastructure, Flexport and Enpal. H2Green Steel was far from the only substantially large investment, as mega-rounds accounted for 6.6 percent of rounds in 2022, showing a growing maturity of the ecosystem. Even excluding the mega-round raised for H2 Green Steel of $4.54B, (the largest ever climate tech investment in Europe), the industry sector almost doubled year-over-year investment. In 2022 solutions to decarbonize industry generated momentum as more investment poured into hardware. “Europe is also banking on hydrogen and decarbonizing heavy industry.” “Unsurprisingly, energy was the strongest sector in Europe, with investors seeing a resurgence of renewable energy projects and technologies to strengthen Europe’s energy independence,” said Frederico Cristoforoni, co-founder, Net Zero Insights. Finland saw the biggest year-over-year growth of any European country driven by four mega-deals respectively across supply chain tracking, climate fintech, quantum computing and circular electronics. Climate tech companies from the United Kingdom scored the highest funding ($8.1B), followed by Sweden ($7.7B) and Germany ($5.3B). The sectors showing the strongest growth in Europe are industry (+645%), GHG capture, removal and storage (+457%) and emissions control, reporting and offsetting (+433%). While the majority, $43.9 billion, came from the U.S., Europe’s total funding reached $35.6B, representing a 33% year-over-year increase, compared to only 7% in the U.S.Įurope’s funding surge of 33% was driven by investments in energy, which saw an increase in funding by 81% ($18.5B), followed by transport ($9.4B), circular economy ($7.1B) and industry ($6B). – Janu– Net Zero Insights, the leading market intelligence platform for climate tech in Europe and North America together with Alder & Co., a purpose-driven climate tech marketing agency, today announced year-end climate tech investment results for 2022 totaling a record-setting total of $82 billion, a 20% increase compared to 2021.
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