?? Entrepreneurs for Impact #147: Over $1B of New Capital for Climate Solutions

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Today’s topics.

1. ?? $1.1B for new climate solutions
2. ?? 44 climate tech startups that YC funded
3. ?? A Stoicism quote to make hard times feel like a good investment
4. ??? What kind of work could you do forever?

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P.S. Here’s a little “productivity dork, dad humor” to get you started.

• The old way — “Kill two birds with one stone.”
• The new way — “Feed two birds with one scone.” ??

1.

?? $1.1B for new climate solutions.

Here are six recent climate finance headlines that caught my eye.

Smaller Climate Startups Face ‘Valley Of Death’ As Funding Freezes Up. This VC Just Raised $325 Million To Help

• The World Fund is EU-based and EU-focused. It invests in seed to Series B startups and wants hardware to be a key component.

Biden-Harris Administration Announces $173 Million to Make Homes More Energy Efficient and Climate Resilient for Low-Income Americans as Part of President Biden’s Investing in America Agenda

• “Over half of Green and Resilient Retrofit Program funding has now been awarded to combat the climate crisis, advance environmental justice, and improve lives for residents in HUD-supported housing.”

Bloomberg Philanthropies Announces $200 Million Commitment to Support U.S. Mayors Taking on Climate Change

• “A three-year initiative to turbocharge 25 U.S. cities’ efforts to leverage historic levels of federal funding to proactively build low-carbon, resilient, and economically thriving communities”

NYCEDC Launches Request for Proposal Seeking Consortium to Establish $100 Million Climate Innovation Hub at BAT in Sunset Park

• “The world-class hub will serve 150 startups over 10 years, generate $2.6 billion in economic impact and create 600 jobs.”

Brimstone’s $189 Million Federal Award Is A Game-Changer For Cement Decarbonization

• “The funding will accelerate the production of Brimstone’s zero-carbon cement?—?the only one in the world certified as ordinary Portland cement.”

Sublime Systems Selected by U.S. Department of Energy to Receive $87 Million Investment to Accelerate Commercial-Scale, True-Zero Cement Manufacturing Technology

• “Funding from the Department of Energy’s Office of Clean Energy Demonstrations (OCED) will accelerate construction of Sublime’s first commercial manufacturing plant in Holyoke, Mass., while expanding economic opportunity for the community, a former paper manufacturing hub.”

2.

?? 44 climate tech startups that YC funded

In case you live under a rock, here’s why this list from YC matters. *

“Since 2005, Y Combinator has funded over 3,000 companies and worked with over 6,000 founders. Every six months, over 10,000 companies apply to participate in our accelerator, and we typically have a 1.5%-2% acceptance rate. We now have more than 110 companies valued over $100M and more than 25 companies valued over $1B.”

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Check out the complete list here .

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* For what it’s worth, I live under a rock, too, when it comes to most pop culture and sports news. ??

3.

?? A Stoicism quote to make hard times feel like a good investment.

If you’re feeling beaten up by the challenges of entrepreneurship — e.g., juggling ten plates when you only have four limbs, trying to raise capital when investment funding is calcified — then consider this quote from Stoic teacher Seneca.

“A gem cannot be polished without friction, nor a man perfected without trials.”

It’s all part of the normal process.

You’re just paying the “entrepreneur’s tax.”

And you know who pays a lot of taxes? Those who generate high profits. *

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* For just a second, let’s ignore the tax benefits of real estate depreciation, capital gains, and SEP plans. ??

4.

??? What kind of work could you do forever?

Last year, a friend reframed the notion of a serial entrepreneur for me. *

“Have you ever heard of a serial farmer? No. They farm for life. Same land, same job.”

At first, I reminded him that the answer could be “yes” if you instead rewrote that as a “cereal farmer.” ??

Then, I reflected on some of the Founders podcasts I like. Those entrepreneurs’ exit plan was not an IPO or strategic acquisition. It was death.

Clearly, companies funded with investors who have [10]-year funds need liquidity sooner than “forever.”

But I’ve found it helpful to ask:

What job could I do until I die?

I think the answer is my current portfolio of work .

But 25+ years ago, my answer was continued rainforest research in Latin America. ??

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* Thanks to Willy Oppenheim, Executive Director at social impact NGO, Omprakash .

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That’s all, y’all.

Make it a great week because it’s usually a choice.

~ Chris

Dr. Chris Wedding : Founder @ Entrepreneurs for Impact — North America’s top CEO peer group for growth-stage climate tech, with 70+ entrepreneurs and investors representing over $20B of market value for climate solutions. Apply to join .