How does climate tech earn serious capital?
In this episode of RAW GREEN, Francesco De Lieto and Emma Mee sit down with Bailey Morrow, Managing Director at HSBC Innovation Banking (https://www.hsbcinnovationbanking.com/en), to unpack one of the biggest bottlenecks in climate tech: bankability.
Many climate technologies can prove they work through pilots, LCA data, early customers and technical milestones. But proving that a technology works is not the same as proving it is financeable.
Bailey explains what lenders actually look for when assessing climate tech companies, why debt moves differently from venture capital, and why founders often confuse being VC-fundable with being bank-financeable. The conversation covers the gap between technical validation and commercial maturity, the role of liquidity, customer contracts, offtake agreements, recurring revenue, and the importance of building lender relationships early.
The episode also explores the differences between the US, UK, Europe and China when it comes to climate tech scale-up, risk appetite, speed of execution, regulation and deployment.
From software-enabled climate tech to hardware, FOAK projects, project finance, venture debt and customer-side financing, this is a practical discussion on what it really takes for climate technologies to move from promising innovation to serious capital.
If you are a climate tech founder, investor, lender, corporate buyer or anyone working on scaling clean technologies, this episode is a clear guide to how capital thinks , and what climate tech needs to prove before banks lean in.
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Raw Green is produced and sponsored by OBE, a sustainability consultancy specialised in Life Cycle Assessment, research and climate technologies.
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Ciiiiao!