Jessica Burley (Planet A): Funding the Physical World in Europe

Jessica Burley (Planet A): Funding the Physical World in Europe

Author: Hugo Rauch January 9, 2026 Duration: 27:57

Thank you to this week’s sponsor:

Accelerating Impact - a non-profit advancing impact finance by mobilizing capital and running free accelerator programs for emerging fund managers. Join for expert coaching, training, financial support, and a strong community. Apply here.

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🌊 Hardware Is Hard. That’s the Point.

What it really takes to fund, build, and scale climate hardware in Europe

We’re joined by Jessica Burley, Investor at Planet A Ventures, one of Europe’s leading climate and deep tech VCs pioneering a science-based approach to venture capital.

In this episode, we dive into why climate hardware is fundamentally different from software — and unpack what it really takes for founders and investors to scale atoms (not just bits) without breaking the cap table.

From capital stacks and bankability to team composition and customer urgency, this is a grounded, insider conversation for anyone building or backing climate infrastructure.

In our conversation, we covered:

→ Why hardware isn’t broken — but VCs need a new playbook

→ The real reason climate hardware fails (hint: it’s not the science)

→ How to structure a capital stack beyond pure equity

→ What “bankability” actually means for first-of-a-kind plants

→ Why sustainability alone doesn’t close customers

→ Where climate hardware is quietly becoming profitable right now



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.
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