March 14

Silicon Valley Bank Collapse Threatens Climate Start-Ups

By David Gelles

As the fallout of the collapse of Silicon Valley Bank continued to spread over the weekend, it became clear that some of the worst casualties were companies developing solutions for the climate crisis.

The bank, the latest to fail since 2008, worked with more than 1,550 technology firms that are creating solar, hydrogen and battery storage projects. According to its website, the bank issued them billions in loans.

Photo courtesy of Images George Rex.

Source: The New York Times (link opens in a new window)

Environment, Finance, Technology
climate change, failure, startups