Silicon Valley Bank Collapse Threatens Climate Start-Ups

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https://www.nytimes.com/2023/03/12/climate/silicon-valley-bank-climate.html

By David Gelles, The New York Times. 

Excerpt: 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 largest 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. ...Community solar projects appear to be especially hard hit. Silicon Valley Bank said that it led or participated in 62 percent of financing deals for community solar projects, which are smaller-scale solar projects that often serve lower-income residential areas. ...There are signs that, when the dust settles, the climate tech industry will have a new lender of choice.... 

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