[Live @ Supercluster] #2: Investing in industrial green tech with Marc Lechantre (Axeleo)

[Live @ Supercluster] #2: Investing in industrial green tech with Marc Lechantre (Axeleo)

Author: Hugo Rauch December 14, 2025 Duration: 35:53

🌊 Marc Lechantre on industrial decarbonization.

We’re joined by Marc Lechantre, Partner at Axeleo Capital’s Green Tech Industry Fund. After 15 years in the automotive industry, Marc now backs the founders building the factories, materials, and energy systems that actually move the climate needle.

In this episode, we dive into industrial climate tech, and unpack what it really takes to finance, scale, and de-risk hardware-first startups in Europe.

We covered:

→ Why software alone won’t solve climate change

→ The real funding gap in industrial climate tech

→ How to de-risk industrial investments

→ Why Europe still has a shot at re-industrialization

→ What VCs often miss about hardware risk, and why it’s different, not worse

→ Why “green premiums” are over, and climate solutions must now win on cost

→ What investing actually looks like when you’re building physical infrastructure



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
Thibaud Martin (Altrove): $10M to Reinvent Materials Discovery [not-audio_url] [/not-audio_url]

Duration: 23:00
Today on New Wave: Altrove just raised $10M to reinvent how new materials are discovered, using AI and robotics to replace the world’s rarest elements. This week, I sat down with Thibaud Martin, Altrove’s co-founder and…
How LPs Pick Climate Funds [not-audio_url] [/not-audio_url]

Duration: 53:01
This week on New Wave Weekly: 👉 How LPs really select climate fundsFrom 500 decks to a handful of checks, LPs reveal how they go about screening and selecting funds at the top of the funnel.👉 What due diligence really lo…
Guillaume Gras (ECBF): Investing In Growth-Stage Circular Startups [not-audio_url] [/not-audio_url]

Duration: 52:01
🌊 The Fifth Swell Has ArrivedWhat does circularity really look like when the hype fades?I sat down with Guillaume Gras, Investment Director at ECBF and former Innovafeed co-founder (raised over €250M), to unpack how clim…
The Case For "Boring" Industries [not-audio_url] [/not-audio_url]

Duration: 28:43
This week on New Wave Weekly: 👉 The case for “boring” industriesWhy old-school sectors like steel, cement, mining, and logistics may be the best places for climate founders to win (if you can crack GTM and avoid CapEx tr…
Laura Fox (Streetlife Ventures): Investing in Sustainable Cities [not-audio_url] [/not-audio_url]

Duration: 51:24
Supported by:Accelerating Impact - an independent non-profit advancing impact finance by mobilizing capital toward sustainable development and running free accelerator programs for emerging fund managers (ICFA, ISFA). Jo…
A Few Thoughts on Stegra | Collaborative Capital | AI Meets Fusion [not-audio_url] [/not-audio_url]

Duration: 48:48
This week on New Wave Weekly: 👉 Stegra and the Billion-Euro GapSweden’s Stegra (formerly H2 Green Steel) raised €6.5 billion to build Europe’s largest green-steel plant, then the FT called it a “funding crisis.” Is this…
Terhi Vapola (Greencode VC): Can Software Drive The Green Transition? [not-audio_url] [/not-audio_url]

Duration: 41:15
Brought to you by:Accelerating Impact - an independent non-profit advancing impact finance by mobilizing capital toward sustainable development and running free accelerator programs for emerging fund managers (ICFA, ISFA…