Climate tech startups had a strong start to the year and could draw sustained interest as the ongoing energy crisis spurs investment in green technologies including liquefied natural gas, nuclear energy, and solar, wind and hydrogen power.

So far this year, global climate tech startups have raised $13.7 billion in VC investment across 369 deals, according to PitchBook data.

2021 was a record year for climate tech companies, marked by electric vehicle developer Rivian's pre-IPO mega-deals and a string of outsized venture deals for energy storage companies Northvolt and SVOLT.

In 2022, VC investors are broadening their scope beyond EV and battery makers to encompass a mix of startups offering carbon capture technology, lithium mining and indoor vertical farms.

Climeworks raised a $650 million round led by Partners Group and GIC in what is the largest VC climate tech deal so far this year. Based in Zurich, the company is the developer of a carbon capture and storage plant that scrubs carbon dioxide from the air and stores it underground.

As scientists issue dire warnings about Earth's future, carbon capture is seen by many as a potential game-changer for combating global warming. Another notable startup in the space is France-based carbon management platform Sweep, which raised $73 million in an April Series B.

Meanwhile, oil majors, flush with capital from higher oil prices, are likely to accelerate investment in renewable energy.

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