Published 26th of August 2022 by Nina

The Climate Tech Start Up Dilemma: To Accept or Not Accept 'Big Oil' Funding?

To accept or not accept 'big oil' cash? That is the question raised in a recent piece by Financial Times Sifted journalist Freya Pratty. It makes for a fascinating and uncomfortable read in equal measure. Line by line, one feels the tension-filled journey faced by #climate tech #founders looking to develop their #business on one hand, but wondering, on the other, whether to accept or steer clear of the deep pockets of ‘big oil’ in doing so. 
Given the reality both that the big oil firms are flush with funds available (enhanced by the global #energy crisis) – and that they are continuing to diversify and ‘#future proof’ by ‘greening’ their businesses --it’s clear that the likes of Shell, BP, Exxon Mobil, Chevron, TotalEngergies, etc have money to invest and are interested in investing in climate #tech.
Pratty poses, thus, the intriguing question “Big Oil has cash to splash. Should climate tech #startups accept it?” And, with that, through Pratty's piece, we are transported into the lives of #climatetech founders on both sides of the fence.
EMCAP Empowering Capabilities Founder Kristina Hagström-Ilievska chews on Pratty's comment that "the cash in oil and gas companies’ #venture arms is growing,“ by saying "there are a lot of uncomfortable conversations to be had.” Indeed, indeed.
Highly recommend the read, cogitations, and discussion and debate about the #climatetech - #oilandgas funding dilemma with colleagues, friends and family ... if you dare!


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