The New York TimesThe New York Times

Silicon Valley Bank collapse threatens climate startups

By David Gelles

12 Mar 2023 · 4 min read

Editor's Note

The New York Times reports on the negative impact that the SVB collapse could have on the 1,500 climate start-ups that it was working with - all of which are working to tackle global warming.

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.

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