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Carbon & Emissions Tech Report

Q4 2023

Carbon & Emissions Tech Report

February 1, 2024

Hard-to-abate is easy-to-fundraise 

Climate tech’s Q4 was not the frenzy that the industry had in Q3 when deals topped $8.0 billion. Nevertheless, carbon & emissions tech startups still brought in $2.2 billion, including 10 deals over $50 million and spectacular checks for Humara, Northvolt, and Crusoe. The industry segment, which covers hard-to-abate industries, has been particularly hot this year, bringing in $8.5 billion across 344 deals, according to our Q4 2023 Carbon & Emissions Tech Report. 

Explore some of the buzziest companies in carbon & emissions tech, from sustainable aviation fuel producer Air Company to waste recycling startup Néolithe to carbon capture and storage company Deep Sky. 


Table of contents
Vertical update 3
Q4 2023 timeline 5
Carbon & emissions tech landscape 6
Carbon & emissions tech VC ecosystem market map 7
VC activity 8
Emerging opportunities 16
       Soil carbon technologies 17
       Building heat management 19
Select company highlights 21
       Néolithe 22
       Air Company 24
       Deep Sky 26