A series of huge funding rounds has given a boost to the fintech and climate tech industries in particular. And it is telling that many founders are banking on their success by taking on high-interest debt rather than sharing their equity with investors.
3 jobs you can apply for today
The biggest winner in the analysis was climate technology, which received €21.3 billion in investment, with energy storage, advanced materials and electric vehicles attracting the most attention.
However, almost half of this climate technology funding came from Northvolt and H2 Green Steel deals worth €5 billion and €4.75 billion respectively, so Sweden is clearly doing something right.
With private and EU funding, there is great confidence in Europe’s climate technology innovators. Here are eight that are likely to be hiring soon.
1. Nordvolt
The Swedish battery supplier started the year on a high by securing the largest green loan ever in Europe – a staggering 5 billion euros in investmentsSince then, things have not been so easy.
Northvolt has closed its California facility and moved development of its next-generation lithium-metal battery technology to its R&D center in Västerås. Additionally, BMW has canceled a $2 billion contract and is reportedly currently reviewing the feasibility of some of its plants, so this is a move worth keeping a close eye on.
2. H2 Green Steel
The young company H2 Green Steel – founded in 2020 – aims to reduce CO2 emissions in production by 95% compared to steel produced in blast furnaces. Its 740 MW green hydrogen-powered steel plant is already in operation and is powered by onshore wind and hydropower.
3. Zenobē Energy
UK-based battery provider Zenobē Energy secured the second-largest equity financing deal in the first half of 2024 by raising £410 million – after Wayve’s massive $1.05 billion funding round in May.
As opposed to traditional venture capital funding, the company has opted for private equity and infrastructure financing, demonstrating the growing popularity of this financing model in the climate technology sector. This is likely because many of Europe’s cutting-edge climate projects, while undoubtedly innovative, have not yet been proven at scale.
4. Electra
The French startup for electric vehicle charging stations Electra, has raised 304 million euros in a Series B financing roundannounced earlier this year. The company is developing a network of fast-charging stations for electric cars, an industry that is expected to grow rapidly as more people switch from petrol and diesel.
3 more roles to discover this week
5. Everphone
Citigroup led the 270 million euros in financing for the German company Everphone in the first half of the year. The Berlin-based company is a circular economy startup and Device-As-A-Service platform that plans to significantly increase its international operations and expansion. It also intends to introduce new business-friendly features such as business intelligence and ESG reporting.
6. Syre
Another Swedish company to keep an eye on is Syre, a textile recycling startup that announced a $100 million Series A funding round in May. This came just two years after it was founded as a joint venture with H&M. As a company, it focuses primarily on recycling polyester, which has the highest carbon footprint of all textiles.
7. Cloverleaf
The German software, finance and energy solutions company Cloover connects those involved in the energy transition, from installers and manufacturers to energy suppliers and investors. In May, the company announced $114 million in financing.which aims to provide residential installers with a set of tools as the residential renewable energy sector continues to grow due to greater consumer awareness and higher energy prices.
8. Kaluza
A partnership with one of Australia’s largest energy providers has helped UK energy and smart grid company Kaluza raise €92 million in its latest funding round. The deal gave AGL a 20% stake in the company, which aims to provide more affordable, low-carbon solutions to its customers in Australia.
Are you ready for your next progressive role in the tech industry? Visit the Tech EU Job Board today
