TC: Australia’s Climate Tech Industry Is Booming, but It Could Bust Without Funds

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Australia, renowned for its natural wonders, grapples with climate change-induced catastrophes. Despite challenges, the country’s climate tech startups are rising, driven by environmental concerns and policy support. Australia’s vast, sparsely populated areas present ideal conditions for solar and wind energy, fostering a shift to renewables. The government targets an 82% renewable grid by 2030. However, the sector faces a capital hurdle for scale-up, hindering access to innovation. Notwithstanding, Q3 2023 saw a surge in climate tech funding, reaching $116 million, with 2022 capital raising at $553 million. While ambitious, the 2023 $1.5 billion goal faces delays, but founders remain optimistic about securing international investment in Q1 2024.

 

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