$45M Plant Nickel Bet | CVCs Step Into Power | Climate Tech’s Biggest Myth

$45M Plant Nickel Bet | CVCs Step Into Power | Climate Tech’s Biggest Myth

Author: Hugo Rauch October 3, 2025 Duration: 45:17

Brought to you by:

D-CRBN - a Belgian startup turning industrial CO₂ emissions into valuable feedstock using cutting-edge plasma technology. If you want to learn more, reach out directly to David Ziegler or Gill Scheltjens.

***

This week on New Wave Weekly:

👉 $45M for Genomines: Plants vs MinesThe French startup growing nickel from plants just raised $45M, one of the largest Series A in Europe for climate-tech companies. We’ve looked at all the details and are sharing key insights.

👉 CVCs Are Taking OverHyundai, Microsoft, Siemens… corporate VCs are writing bigger checks and locking in as customers. Are they the future of climate capital?

👉 Is Climate Tech Dead?Media says “dual-use is hot, climate is not.” But is this the death of climate VC, or just the cleansing fire we needed to kill bad ideas and sharpen the next generation of winners?

***

References:

Sifted: Genomines raises $45M Series A

Forbion Co-lead Release (PDF)

DT Capital Partners Press Release

Microsoft doubles down on green steelmaker Stegra

PwC Report: Climate Tech & Corporate VC

Sifted: Climate tech out, dual-use in

Impact Loop: Lubomila Jordanova warns of greenwashing

***

Chapters:

(00:00) Introduction

(01:26) $45M for Genomines

(21:46) CVCs are taking over

(36:09) Long Live Climate-Tech!



This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

Hugo Rauch hosts New Wave, a podcast that lives at the intersection of business ambition and scientific reality. This isn't about distant predictions or abstract science; it's a grounded exploration of the technologies and companies being built right now to address our environmental future. Each episode focuses on the practical journey, dissecting the models, the breakthroughs, and the hard decisions that define the climate tech landscape. You'll hear from founders, researchers, and investors who are actively shaping this space, getting into the specifics of what works, what doesn't, and why. The conversations move beyond hype to examine the tangible mechanics of creating viable solutions, from energy storage and sustainable materials to carbon removal and regenerative agriculture. It’s for anyone who thinks about the climate challenge not just as a crisis, but as a complex and urgent field of innovation. By tuning into this podcast, you gain a clearer understanding of the economic forces and scientific principles driving the next generation of environmental solutions. New Wave connects the dots between the lab, the boardroom, and the impact we need to see in the world, offering a sober yet optimistic look at where substantive progress is truly being made.
Author: Language: English Episodes: 89

New Wave.
Podcast Episodes
Lea Strumberger (KfW Capital): Inside Germany's $1B Fund of Fund [not-audio_url] [/not-audio_url]

Duration: 48:14
Subscribe to the newsletter:New Wave | Hugo Rauch | Substack****Thanks you, Morning for hosting the podcast this week. Get 20% off your next meeting room (in Paris), just say you’re coming from Hugo at New Wave.****🌊 Ins…
[5/5] Energy Carriers | Andy Lubershane (Energy Impact Partners) [not-audio_url] [/not-audio_url]

Duration: 41:55
Subscribe to the newsletter:New Wave | Hugo Rauch | Substack****🌊 The Fuel Problem No One Talks AboutWhy replacing fossil fuels isn’t just about energy, it’s about how we carry it. We’re joined by Andy Lubershane, Partne…
Arnaud Tran (Voltaback): The Economics of Corporate EV Charging [not-audio_url] [/not-audio_url]

Duration: 44:00
Subscribe to the newsletter:New Wave | Hugo Rauch | Substack****🌊 Decentralizing the Fuel StationWhy EV charging, not the car, is the real bottleneck to electrificationWe’re joined by Arnaud Tran, Co-founder & CEO of Vol…
Torsten Kolind (UGV): Can Geothermal Scale Beyond Iceland? [not-audio_url] [/not-audio_url]

Duration: 51:44
Thanks you, Morning for hosting the podcast this week. Get 20% off your next meeting room (in Paris), just say you’re coming from Hugo at New Wave.****Subscribe to the newsletter:New Wave | Hugo Rauch | Substack****🌊 Dri…
Abhi Desai (Desai Ventures): The Missing Link in Fixing Methane [not-audio_url] [/not-audio_url]

Duration: 34:33
Subscribe to the newsletter:New Wave | Hugo Rauch | Substack****🌊 The Methane Blind SpotWhy one of the most powerful climate levers stayed invisible, and what it takes to build around it.We’re joined by Abhi Desai, Solo…