Climate tech investors push past politics in deal boom

Dealmakers aren't waiting for the political debates over climate change to resolve. They're taking action.

Driving the news: Venture capital and private equity investors on Tuesday invested over $2 billion into nearly a dozen climate tech companies, making it one of the sector's busiest deal days.

• The recipients included an electric vehicle battery recycler, a sustainable steelmaker, a maker of solar cells for handheld electronics and a startup that wants to turn residential boilers into "virtual power plants."
• Some of the money came from unusual places, such as Oman's sovereign wealth fund backing a Michigan-based EV battery storage company called Our Next Energy.

Zoom out: Investors have concluded that the energy transition train has left the station, even if Republicans were to sweep next November and seek to roll back the Inflation Reduction Act or pull America out of the Paris Agreement.

• The private sector certainly wants public sector support like tax breaks, but is no longer relying on them when making long-term bets.