US Climate Tech Investment Achieves Six Straight Months of Growth; Silicon Valley Bank Releases Annual Report
Silicon Valley Bank (SVB) has released its Future of Climate Tech 2025 Report, revealing six consecutive months of growth in US climate tech investments. The sector is outperforming overall VC with a 9% higher internal rate of return (IRR) in the 2020-2024 fund vintage.
Key findings show that 57% of US VC-backed climate tech companies need to raise capital in the next year, while valuations are recovering from 2023 lows. Series B and C+ rounds hit decade highs of $30M and $60M respectively in 2024. Clean energy deals reached an all-time high with 382 deals totaling over $7B in 2024, marking a 15% year-over-year increase.
The report highlights improved profit margins, particularly in software companies, which showed 30% higher profit margins than hardware companies for those with over $50M in revenue. M&A activity has returned to 2020 levels, with financial buyers increasing their share of transactions from 15% to 40% between mid-2023 and early 2024.
Silicon Valley Bank (SVB) ha pubblicato il suo Rapporto Future of Climate Tech 2025, rivelando sei mesi consecutivi di crescita negli investimenti nel settore della tecnologia climatica negli Stati Uniti. Il settore sta superando complessivamente il venture capital con un tasso interno di rendimento (IRR) superiore del 9% per i fondi vintage 2020-2024.
I dati chiave mostrano che il 57% delle aziende di tecnologia climatica sostenute da VC negli USA dovrà raccogliere capitale nel prossimo anno, mentre le valutazioni si stanno riprendendo dai minimi del 2023. I round di Serie B e C+ hanno raggiunto livelli record per il decennio, rispettivamente di 30 milioni e 60 milioni di dollari nel 2024. Gli accordi nel settore delle energie pulite hanno toccato un massimo storico con 382 operazioni per un totale di oltre 7 miliardi di dollari nel 2024, segnando un aumento del 15% rispetto all'anno precedente.
Il rapporto evidenzia margini di profitto migliorati, in particolare nelle aziende software, che hanno mostrato margini di profitto superiori del 30% rispetto alle aziende hardware con ricavi superiori a 50 milioni di dollari. L'attività di fusioni e acquisizioni è tornata ai livelli del 2020, con gli acquirenti finanziari che hanno aumentato la loro quota di transazioni dal 15% al 40% tra metà 2023 e inizio 2024.
Silicon Valley Bank (SVB) ha publicado su Informe Future of Climate Tech 2025, revelando seis meses consecutivos de crecimiento en las inversiones en tecnología climática en Estados Unidos. El sector está superando al capital de riesgo general con una tasa interna de retorno (TIR) un 9% mayor en la serie de fondos 2020-2024.
Los hallazgos clave muestran que el 57% de las empresas de tecnología climática respaldadas por capital de riesgo en EE.UU. necesitan recaudar capital en el próximo año, mientras que las valoraciones se están recuperando de los mínimos de 2023. Las rondas de Serie B y C+ alcanzaron máximos de la década con 30 y 60 millones de dólares respectivamente en 2024. Los acuerdos en energía limpia alcanzaron un récord histórico con 382 acuerdos por un total de más de 7 mil millones de dólares en 2024, marcando un aumento del 15% interanual.
El informe destaca márgenes de beneficio mejorados, especialmente en empresas de software, que mostraron márgenes de beneficio un 30% más altos que las empresas de hardware con ingresos superiores a 50 millones de dólares. La actividad de fusiones y adquisiciones ha regresado a los niveles de 2020, con compradores financieros aumentando su participación en transacciones del 15% al 40% entre mediados de 2023 y principios de 2024.
실리콘밸리은행(SVB)이 발표한 2025년 기후 기술 미래 보고서에 따르면, 미국 기후 기술 투자 분야가 6개월 연속 성장세를 보이고 있습니다. 이 분야는 2020-2024년 펀드 빈티지에서 내부수익률(IRR)이 9% 더 높아 전체 벤처캐피털보다 우수한 성과를 내고 있습니다.
주요 내용으로는 미국 VC 지원 기후 기술 기업의 57%가 향후 1년 내 자본 조달이 필요하며, 기업 가치가 2023년 최저점에서 회복 중임을 보여줍니다. 2024년 시리즈 B와 C+ 라운드는 각각 3천만 달러와 6천만 달러로 10년 만에 최고치를 기록했습니다. 청정에너지 거래는 382건, 70억 달러 이상로 사상 최대를 기록하며 전년 대비 15% 증가했습니다.
보고서는 특히 소프트웨어 기업에서 하드웨어 기업보다 30% 높은 이익률이 개선되었음을 강조합니다. 매출 5천만 달러 이상 기업 기준입니다. 인수합병(M&A) 활동은 2020년 수준으로 회복되었으며, 금융 구매자의 거래 비중이 2023년 중반 15%에서 2024년 초 40%로 증가했습니다.
Silicon Valley Bank (SVB) a publié son rapport Future of Climate Tech 2025, révélant six mois consécutifs de croissance des investissements dans la technologie climatique aux États-Unis. Le secteur surperforme le capital-risque global avec un taux de rentabilité interne (TRI) supérieur de 9 % pour la génération de fonds 2020-2024.
Les principales conclusions indiquent que 57 % des entreprises de technologie climatique soutenues par des VC aux États-Unis doivent lever des fonds dans l’année à venir, tandis que les valorisations se redressent après les creux de 2023. Les levées de fonds de séries B et C+ ont atteint des sommets décennaux de 30 M$ et 60 M$ respectivement en 2024. Les transactions dans les énergies propres ont atteint un record historique avec 382 accords totalisant plus de 7 milliards de dollars en 2024, soit une hausse de 15 % en glissement annuel.
Le rapport souligne une amélioration des marges bénéficiaires, notamment dans les entreprises de logiciels, qui ont affiché des marges bénéficiaires supérieures de 30 % à celles des entreprises de matériel générant plus de 50 millions de dollars de revenus. L’activité de fusions-acquisitions est revenue aux niveaux de 2020, avec une augmentation de la part des acheteurs financiers dans les transactions, passant de 15 % à 40 % entre mi-2023 et début 2024.
Silicon Valley Bank (SVB) hat seinen Bericht Future of Climate Tech 2025 veröffentlicht, der sechs aufeinanderfolgende Monate Wachstum bei den US-Investitionen in Klimatechnologie zeigt. Der Sektor übertrifft das gesamte Risikokapital mit einer um 9 % höheren internen Rendite (IRR) bei den Fondsjahrgängen 2020-2024.
Wichtige Erkenntnisse zeigen, dass 57 % der von US-Risikokapital unterstützten Klimatechnologieunternehmen im nächsten Jahr Kapital aufnehmen müssen, während die Bewertungen sich von den Tiefständen 2023 erholen. Die Finanzierungsrunden der Serien B und C+ erreichten 2024 mit 30 Mio. bzw. 60 Mio. US-Dollar Höchststände des Jahrzehnts. Clean-Energy-Deals erreichten mit 382 Transaktionen im Wert von über 7 Mrd. US-Dollar im Jahr 2024 einen Rekordwert, was einem Anstieg von 15 % gegenüber dem Vorjahr entspricht.
Der Bericht hebt verbesserte Gewinnmargen hervor, insbesondere bei Softwareunternehmen, die bei einem Umsatz von über 50 Mio. US-Dollar 30 % höhere Gewinnmargen als Hardwareunternehmen aufwiesen. Die M&A-Aktivitäten sind auf das Niveau von 2020 zurückgekehrt, wobei Finanzinvestoren ihren Anteil an den Transaktionen zwischen Mitte 2023 und Anfang 2024 von 15 % auf 40 % erhöht haben.
- Climate tech funds outperform overall VC with 9% higher IRR
- Clean energy deals reached record $7B in 2024, up 15% YoY
- Series B and C+ rounds hit decade highs ($30M and $60M)
- Software companies showing 30% higher profit margins
- Financial buyers increased M&A participation from 15% to 40%
- 57% of US VC-backed climate tech companies need to raise capital within 12 months
- Hardware companies' growth rates declined from 58% to 19% (2021-2023)
- Overall revenue growth rates have fallen despite margin improvements
Climate tech funds show positive trajectory despite fundraising headwinds
"With continued investor interest, the Climate tech sector is showing reasons for optimism this year," said Dan Baldi, National Head of SVB's Climate Technology and Sustainability practice. "Clean fuels, dispatchable renewables and carbon tech are taking the spotlight, sparked by a shift toward electrification and ongoing goals to reduce emissions."
Leveraging SVB's proprietary data and insights, the Future of Climate Tech 2025 Report reveals the current fundraising landscape, sector trends, and explores how the industry is evolving to address challenges across the innovation economy.
SVB's Future of Climate Tech report analyzes key themes shaping the future of climate technology, including:
- Raising Equity is Tough, But Signs of Growth Persist:
57% of US VC-backed climate tech companies need to raise in the next twelve months even as more than half of companies are reducing burn YoY. Yet there are encouraging signs of growth – trailing 12-month venture investment is increasing, company formation remains strong, and early-stage activity is still vibrant. - Early-Stage Resiliency: Early-stage investment has remained more resilient than later-stage activity over the last three years, showing a healthy pipeline of companies fueling future growth of the industry.
- Electrification Continues, Demand Accelerates: By 2030, half of electricity generation will come from renewable resources. Climate tech solutions from storage to demand response and improved transmission are poised to transform the energy and power sector.
Key findings from the Future of Climate Tech Report include:
- Valuations and Rounds on the Rise: After valuations bottomed out in 2023, they are on the rise again with climate tech valuations overtaking VC investment at the later-stage. Aside from seed, where median deal sizes have held steady, rounds are getting bigger. Series B and C+ rounds reached decade highs of
$30M $60M - Extinguishing Burn, Improving Margins: Margins improved, but revenue growth rates fell. Climate tech hardware companies saw growth rates fall from a median of
58% at the end of 2021 to just19% by the end of 2023. While growth rates have since marginally improved, climate tech software companies are seeing higher profit margins than hardware companies. The median climate tech software company with over$50M 30% higher profit margin in 2024. - All-Time High for Clean Power Deals: Bolstered by incentives within the IRA and Chips and Science Act that improve profit margins for many renewable energy producers, clean energy and power companies closed 382 deals and surpassed
$7B 15% YoY and a more than 3x increase over pre-COVID levels. - M&A Back to 2020 Levels: Between mid-2023 and early 2024 deals coming from financial buyers jumped from
15% of transactions to40% of transactions, signaling that financial buyers may be stepping in as VC investment remains low.
Learn More
To read the complete 2025 Future of Climate Tech report, click here: The Future of Climate Tech 2025
SVB is a leader in providing market insights on sectors across the innovation economy. For the complete library of SVB's signature reports, please visit Market Research Industry Trends & Insights | Silicon Valley Bank (svb.com)
About Silicon Valley Bank
Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of some of the world's most innovative companies and investors. SVB provides commercial banking to companies in the technology, life science and healthcare, private equity, and venture capital industries. SVB operates in centers of innovation throughout
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SOURCE Silicon Valley Bank
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