All Access

Climate Deals

Standard

Climate Deals Thought Bubble

Thought Bubble

Climate Deals Alerts

Alert

mustard

BFD Expert Voices - Climate Deals

BFD Expert Voices

Greentown Labs on Friday confirmed that it's laying off 30% of the staff at its Boston area and Houston incubators.

Why it matters: The group is one of the most well-known organizations in climate-tech, charged with bringing together early-stage funders and founders.

Catch up fast: It launched as a climate co-working space in 2011, just two years after the Cleantech 1.0 bubble burst.

Greentown played an instrumental role reigniting investor interest in early-stage climate startups and building Boston's reputation as an energy innovation hub alongside industries such as health and biotech.

Flashback: Prince William and Princess Catherine stopped at Greentown Labs during a three-day visit to Boston in December 2022, ahead of announcing the winners of the Earthshot Prize.

The latest: The organization said last week that it was shedding 12 workers at its Somerville, Mass., headquarters, and another six staff members at its newer incubator in Houston.

The Boston Globe first reported the cuts, citing a letter from CEO Kevin Knobloch. The organization published the letter on its website.

What they're saying: "Greentown Labs grew rapidly over the past four years," Knobloch writes.

"This created a structural deficit where growth outpaced revenue. The combination of evolving demands on our services post-COVID, dramatic growth of the team, and significant change in senior leadership have all played a role in our current financial situation."

Between the lines: Greentown in recent years pursued an ambitious expansion, including the opening of its Houston location, and a shift in its revenue model from for-profit to nonprofit.

Knobloch joined as Greentown Labs' CEO in September, nine months after the departure of longtime CEO Emily Reichert.

What's next: Knobloch says the focus right now is on cutting expenses.

Climate incubator Greentown Labs cuts 30% of staff

The incubator has become synonymous with climate startups.

A photo of people milling about the floor of Greentown Labs in Somerville, Mass.

Attendees mingle at Greentown Labs' annual ClimateTech Summit last year. Photo: Lane Turner/The Boston Globe via Getty Images

Layoffs

Greentown Labs on Friday confirmed that it&#x27;s laying off 30% of the staff at its Boston area and Houston incubators.Why it matters: The group is one of the most well-known organizations in climate-tech, charged with bringing together early-stage funders and founders.

topics

politics-policy

epstein-files

donald-trump

2026-midterm-elections

immigration

behind-the-curtain

race-and-equity

technology

privacy-tech-regulation

automation-and-ai

tiktok-news

big-tech

social-media

cybersecurity

economy

social-security

inflation

tariffs

federal-reserve

jobs

transportation

business

stock-market-news

retail-news

crypto

media

elon-musk

dealmaking

health

rfk-jr

drug-prices

axios-explains-abortion

public-health

world

israel

axios-explains-ukraine

iran

russia

china

energy-climate

nuclear-energy

climate-energy-policy

climate-change

extreme-weather

alternative-energy

electric-vehicles

science

emerging-tech

biomedicine

newsletters

charlotte

boulder

detroit

kansas-city

columbus

austin

dallas

atlanta

washington-dc

nw-arkansas

chicago

indianapolis

nashville

richmond

colorado-springs

houston

san-francisco

seattle

boston

des-moines

salt-lake-city

philadelphia

denver

phoenix

new-orleans

miami

twin-cities

raleigh

san-antonio

portland

san-diego

tampa-bay

cleveland

huntsville

pittsburgh

axios-local

axios-pro

axios-live

the-axios-show

Climate incubator Greentown Labs cuts 30% of staff

What to read next