The firm is looking for additional European opportunities, says Abrahamson – and for ways to help U.S.-based portfolio companies “figure out how to enter E.U. Third Sphere has invested in European climate tech startups such as Berlin-based Henry Mobility and Zurich-based Pallon ( for background, see “ Third Sphere ramps up for ‘better, cheaper, faster’ climate impact ”). even a few years ago, he says, are choosing to remain in places like Zurich, Berlin and Copenhagen, where venture ecosystems have grown. European founders who might have moved to the U.S. is sharply diverging,” Shaun Abrahamson of venture firm Third Sphere writes in a guest post on ImpactAlpha. Other countries have provided regulatory certainty, she said. “After this, if you are looking around across the world to see where the opportunities are to invest, you are now going to overlook the U.S.,” Heather Zichal of the American Clean Power Association told The New York Times. senator from West Virginia on a scaled-down legislative package to extend tax incentives for electric vehicles, renewable energy and emerging climate tech came on the heels of a Supreme Court ruling sharply limiting the power of environmental regulators to rein in greenhouse gasses. When Joe Manchin torpedoed Democrats’ last best hope for ambitious climate action, he also changed the landscape for private investment. The diverging paths of climate tech in Europe and the U.S. Greetings, Agents of Impact! Featured: Low-Carbon Transition Kresge’s Joe Evans said the electrification of a city’s entire building stock is exciting, “but especially so when paired with a justice-focused approach to workforce development and a commitment to prioritizing buildings housing low-income families.” The guarantee “removes $3 million of risk from the equation through a loan-loss reserve, which helped make the financing from Goldman Sachs and Microsoft possible,” Evans told ImpactAlpha. The two layers of catalytic capital contributed to BlocPower’s selection as the lead of a public-private partnership to decarbonize 6,000 buildings in Ithaca, N.Y., one of the first citywide electrification initiatives in the U.S. The foundation is supporting a loan-loss reserve capitalized by the New York State Energy Research and Development Authority, or NYSERDA, which will help BlocPower deploy financing from Goldman Sachs and Microsoft. BlocPower secures a $3 million guarantee from Kresge Foundation to green and electrify buildings.
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