Clean energy startups have attracted $11 billion this year so far, nearly double the $5.6 billion they attracted in all of 2020, according to company data that tracks Crunchbase capital investments reported by Oil Price. .
While fossil fuel startups suffer from a scarcity of capital, their clean energy counterparts have little difficulty attracting investment from all sides, including oil and gas companies.
Surprisingly, many renewable energy startups consistently owe their existence to the companies that are supposed to replace them, the major oil and gas companies.
For example, oilfield services company Halliburton launched the clean-tech accelerator Halliburton Labs, and is currently working with eight cleantech startups.
The article Emerging Clean Energy Companies Attract $11 Billion This Year was written in Al Borsa Newspaper.