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State of Climate Tech Q1 2025 Report

The State of Climate Tech Q1 2025 explores the key trends, challenges, and opportunities in this rapidly evolving ecosystem. It offers comprehensive insights into the forces shaping the future of climate tech, providing investors, corporations, and key financial decision-makers with the critical insights needed to capitalize on emerging opportunities and drive the adoption of impactful solutions.

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What’s Inside

Introduction

A word from the founders

A word from our sponsor

  Key takeaways

Is 2025 the start of a new normal for Climate Tech?

A strong start for US Climate Tech despite policy shifts

Emerging technologies could define 2025 funding trends

Climate Tech emerges as key focus in global M&A

Europe and North America dominate Climate Tech M&A

What’s on the Climate Innovation wish list for Fortune 500s?

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Specialist investors dial up activity as generalists pull out

Can specialists fill the funding gap left by generalists?

Specialists drive funding in emerging, asset-heavy sectors

Report scope and definitions

Research methodology

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Key Highlights

A stronger-than-expected start despite global market uncertainty

A surge in debt funding—especially in North America, Asia, and Oceania—is helping offset a continued decline in Climate Tech equity investments, with the US showing early momentum under the new administration.

In 2025, emerging technologies may finally step into the spotlight

Emerging Climate Tech solutions like data centers, long-duration storage, sustainable aviation fuels, and direct air capture are gaining traction among equity investors, with early 2025 bets also favoring small modular reactors.

Fortune Global 500’s continue shopping in Climate

Corporations remain a key driver of Climate Tech momentum, fueled by intensified M&A activity. Among Fortune Global 500 companies, Oil & Gas firms are leading the way—driving 1 out of 4 M&A transactions in the sector.