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Making predictions for a living is a tough game, just ask a meteorologist.
It’s one of those unfortunate jobs where you’re judged entirely by your mistakes, not when you get it right. Everyone remembers when the forecaster wrongly predicted a beautiful, sunny day, only for rain to thunder out of the heavens.
Weather forecasters have no control over what they’re predicting, which is part of what makes it so hard. Investing is another job that involves making predictions, except investors have a little bit more control over their portfolios than meteorologists do the clouds.
Today’s premium article features some crystal ball gazing by climate tech investors. These are some predictions you can probably put more stock in than the average weather forecast.
Today we look at:
- Where climate tech investors are putting their money this year
- Fintech player Atome raises US$31 million from its parent company
- Other newsy highlights such as crypto exchange Upbit receiving a key license and VinFast investing US$2 billion in India.
Premium summary
Climate tech crystal ball gazing
Image credit: Timmy Loen
Climate tech in Southeast Asia could be set for a banner year, with investors bullish on two-wheeled electric vehicles, sustainable agriculture, and renewable energy.
Investors in the region have been increasingly interested in climate tech over the last five years, and nearly US$157 million was invested in the space last year.
- Wheely good: Companies in the two-wheeler EV sector attracted a lot of investment in 2023 and that’s set to continue this year. Investors see opportunities in the production of electric two-wheelers as well as services around them, such as charging infrastructure, battery swapping, and EV consumer financing.
- Power play: The region’s climate tech investors are also looking closely at renewable energy. Lim Wen Bin of KPMG Singapore, called Southeast Asia one of the fastest-growing solar energy markets. He added that he’s seen increasing investor interest in proven energy transition and low-carbon technologies.
- Sussing it out: There is caution among climate tech investors over greenwashing, said Praveen Tekchandani of Ernst & Young. According to Aera VC founder Derek Handley, investors are also less keen on previously much-hyped alternative proteins due to consumer backlash and the difficulty scaling such solutions.
Read more: Southeast Asian investors bullish on electric bikes, clean energy in 2024
Anatomy of an Atome raise
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