There has been a lot of doomsayers about the drop in VC funding for climatetech in 2023. And yes, the figures don't lie, and nor do the VCs I speak with, or the founders who felt the headwinds whilst fundraising. BUT, if you look at where the (admittedly less) VC money went, cleantech/climatetech still took a lion share. And this article shows how some of the biggest deals in 2023 went to cleantech infrastructure companies (including Hyperion clients).
So, yes, we saw some correction in valuations from 2022, and some slowing of money compared to previous highs, but corrections are part of the cycling of capitalism and free markets. We're still seeing good investment coming in. Is it enough? The task we face is a big one, but big infrastructure deals like these, and other large PE infrastructure funds we've seen lately give cause for hope.