TLDR:
- Many VC-funded cleantech startups fail.
- Lessons can be learned from startups that went bankrupt or shut down in late 2023.
Canary Media highlights some cleantech startups that did not survive to see 2024. These include Hyperloop One, a company that failed to find a customer for its vision of high-speed transportation in vacuum tubes. Bird, a shared electric scooter startup, filed for bankruptcy after delisting from the New York Stock Exchange. Zinc 8 Energy Solutions, a flow-battery company, is struggling to survive after losing its CEO and most of its staff. Volta Trucks, a Swedish electric-truck builder, filed for bankruptcy due to difficulties in procuring batteries. Sunfolding, a solar startup, closed down its operations due to manufacturing troubles.
