Climate Tech's Secret Weapon: Why Governments MUST Act Now!

Hi, I'm Amy Shapiro. We're here at Hi, I'm Amy Shapiro. We're here at Calculist and CEX Minet Techch Berlin Calculist and CEX Minet Techch Berlin Calculist and CEX Minet Techch Berlin 2025. We're joined today by Yonas 2025. We're joined today by Yonas 2025. We're joined today by Yonas Hornang, the principal of Uber Morgan Hornang, the principal of Uber Morgan Hornang, the principal of Uber Morgan Ventures. Jonas, thank you so much for Ventures. Jonas, thank you so much for Ventures. Jonas, thank you so much for joining us today. joining us today. joining us today. >> Thanks for having me, Amy. >> Thanks for having me, Amy. >> Thanks for having me, Amy. >> It's a pleasure to have you. Um, to >> It's a pleasure to have you. Um, to >> It's a pleasure to have you. Um, to start off with, Yonas, could you tell us start off with, Yonas, could you tell us start off with, Yonas, could you tell us a bit about yourself and your fund?

a bit about yourself and your fund? a bit about yourself and your fund? >> Yeah, sure. I'm an investor at Uber >> Yeah, sure. I'm an investor at Uber >> Yeah, sure. I'm an investor at Uber Morgan Ventures. So I have a business Morgan Ventures. So I have a business Morgan Ventures. So I have a business economics uh background and um prior to economics uh background and um prior to economics uh background and um prior to venture capital um I've been a founder venture capital um I've been a founder venture capital um I've been a founder myself myself myself ventures we're a Swiss climate techch uh ventures we're a Swiss climate techch uh ventures we're a Swiss climate techch uh VC we invest early stage predominantly VC we invest early stage predominantly VC we invest early stage predominantly preed seed preed seed preed seed >> um and we invest uh uh agnostic into the >> um and we invest uh uh agnostic into the >> um and we invest uh uh agnostic into the value chain of climate so that means value chain of climate so that means value chain of climate so that means roughly 50% of our portfolio is novel roughly 50% of our portfolio is novel roughly 50% of our portfolio is novel science deep tech hardware and 50% is science deep tech hardware and 50% is science deep tech hardware and 50% is enabling software stack what makes us enabling software stack what makes us enabling software stack what makes us unique is that we're and semi liquid uh unique is that we're and semi liquid uh unique is that we're and semi liquid uh evergreen structure so we can um be evergreen structure so we can um be evergreen structure so we can um be long-term partners for our portfolio long-term partners for our portfolio long-term partners for our portfolio companies whilst also offering a companies whilst also offering a companies whilst also offering a flexible investment structure for our flexible investment structure for our flexible investment structure for our limited partners. Um we have to date 35 limited partners. Um we have to date 35 limited partners. Um we have to date 35 active portfolio companies active portfolio companies active portfolio companies >> and um yeah actively deploying. >> and um yeah actively deploying. >> and um yeah actively deploying. >> Amazing. Well uh correct me if I'm wrong >> Amazing. Well uh correct me if I'm wrong >> Amazing. Well uh correct me if I'm wrong but uh it feels like climate tech has but uh it feels like climate tech has but uh it feels like climate tech has taken a bit of a backseat in recent taken a bit of a backseat in recent taken a bit of a backseat in recent years. what is your perspective of the years. what is your perspective of the years. what is your perspective of the state of the industry?

state of the industry? state of the industry? >> I think my answer is twofold. So one, >> I think my answer is twofold. So one, >> I think my answer is twofold. So one, the fundamentals of climate techch the fundamentals of climate techch the fundamentals of climate techch haven't changed. Uh we are encountering haven't changed. Uh we are encountering haven't changed. Uh we are encountering and still encounter and still encounter and still encounter um extreme weather events for instance um extreme weather events for instance um extreme weather events for instance and we need technologies to cope, adapt and we need technologies to cope, adapt and we need technologies to cope, adapt and also um find solutions uh yeah to to and also um find solutions uh yeah to to and also um find solutions uh yeah to to tackle these kind of uh challenges. Um, tackle these kind of uh challenges. Um, tackle these kind of uh challenges. Um, moreover, we back solutions which all moreover, we back solutions which all moreover, we back solutions which all fall under the label of climate techch, fall under the label of climate techch, fall under the label of climate techch, >> but they're also in vertical such as >> but they're also in vertical such as >> but they're also in vertical such as supply chain resilience, energy, supply chain resilience, energy, supply chain resilience, energy, compute, uh, robotics and and compute, uh, robotics and and compute, uh, robotics and and sovereignty um, which all are sovereignty um, which all are sovereignty um, which all are experiencing currently um, tailwinds. experiencing currently um, tailwinds. experiencing currently um, tailwinds. >> Mhm. And on that note, what are some of

>> Mhm. And on that note, what are some of >> Mhm. And on that note, what are some of the kind of key trends in climate tech the kind of key trends in climate tech the kind of key trends in climate tech that we should be aware of uh, from the that we should be aware of uh, from the that we should be aware of uh, from the past few years? past few years? past few years? >> Yeah, I think there there quite a few. >> Yeah, I think there there quite a few. >> Yeah, I think there there quite a few. So along the verticals I've just So along the verticals I've just So along the verticals I've just mentioned uh we see a wave of um AI mentioned uh we see a wave of um AI mentioned uh we see a wave of um AI discovery platforms for instance rare discovery platforms for instance rare discovery platforms for instance rare earth free metals new materials um earth free metals new materials um earth free metals new materials um across the whole energy value chain from across the whole energy value chain from across the whole energy value chain from um flexibleizing the grid but also new um flexibleizing the grid but also new um flexibleizing the grid but also new capital inflow into novel sciences such capital inflow into novel sciences such capital inflow into novel sciences such as nuclear fusion. Um we see automation as nuclear fusion. Um we see automation as nuclear fusion. Um we see automation across manufacturing robotics for across manufacturing robotics for across manufacturing robotics for instance. Um so really along all these instance. Um so really along all these instance. Um so really along all these kind of verticals um we see massive kind of verticals um we see massive kind of verticals um we see massive inventions and innovations uh compute inventions and innovations uh compute inventions and innovations uh compute also um we've invested in a company um also um we've invested in a company um also um we've invested in a company um with with a new chip GPU to tech with with a new chip GPU to tech with with a new chip GPU to tech architecture for instance. Yeah. architecture for instance. Yeah. architecture for instance. Yeah. >> So so in the end they all fall under >> So so in the end they all fall under >> So so in the end they all fall under climate but also um have specific use climate but also um have specific use climate but also um have specific use cases in in in other areas. I suppose cases in in in other areas. I suppose cases in in in other areas. I suppose looking into the future, climate tech is

looking into the future, climate tech is looking into the future, climate tech is undeniably important. Um, but what is it undeniably important. Um, but what is it undeniably important. Um, but what is it that uh what do what do we need to see that uh what do what do we need to see that uh what do what do we need to see from governments and regulatory bodies from governments and regulatory bodies from governments and regulatory bodies around the world to help these climate around the world to help these climate around the world to help these climate tech startups I suppose reach their full tech startups I suppose reach their full tech startups I suppose reach their full potential? potential? potential? >> Yeah, I'd say faster permitting for >> Yeah, I'd say faster permitting for >> Yeah, I'd say faster permitting for instance. So from renewable energy instance. So from renewable energy instance. So from renewable energy projects to industrial pilots, um projects to industrial pilots, um projects to industrial pilots, um permitting delays are one of the the permitting delays are one of the the permitting delays are one of the the biggest hurdles I guess for our biggest hurdles I guess for our biggest hurdles I guess for our technologies to scale even more so in in technologies to scale even more so in in technologies to scale even more so in in some instances than the technology some instances than the technology some instances than the technology itself or the capital needed. Um itself or the capital needed. Um itself or the capital needed. Um secondly, I think stronger market secondly, I think stronger market secondly, I think stronger market signals also from from regulatory bodies signals also from from regulatory bodies signals also from from regulatory bodies or governments, meaning for instance um or governments, meaning for instance um or governments, meaning for instance um um initiatives for procurement, perhaps um initiatives for procurement, perhaps um initiatives for procurement, perhaps lowcarbon materials or incentive schemes lowcarbon materials or incentive schemes lowcarbon materials or incentive schemes for um industrials to decarbonize and I for um industrials to decarbonize and I for um industrials to decarbonize and I think both um could create even more think both um could create even more think both um could create even more confidence for founders but also buyers confidence for founders but also buyers confidence for founders but also buyers in this uh um in this space. in this uh um in this space. in this uh um in this space. >> Right. Uh >> Right. Uh >> Right. Uh >> uh sorry I I and I I would like to add

>> uh sorry I I and I I would like to add >> uh sorry I I and I I would like to add um um um >> first of a kind pilots uh for instance >> first of a kind pilots uh for instance >> first of a kind pilots uh for instance folks um is is also massive topic we folks um is is also massive topic we folks um is is also massive topic we need to tackle um so um we experience need to tackle um so um we experience need to tackle um so um we experience with folks they they are often faced with folks they they are often faced with folks they they are often faced with a financing gap with a financing gap with a financing gap >> valley of death and I think governance >> valley of death and I think governance >> valley of death and I think governance uh can play here a major role um that uh can play here a major role um that uh can play here a major role um that financing guarantees but also public financing guarantees but also public financing guarantees but also public private um financing mechanism to unlock private um financing mechanism to unlock private um financing mechanism to unlock additional private capital. And lastly,

additional private capital. And lastly, additional private capital. And lastly, um we need the best talent. Uh um we need the best talent. Uh um we need the best talent. Uh obviously, um so um yeah, attracting obviously, um so um yeah, attracting obviously, um so um yeah, attracting more talent by uh accelerating visas uh more talent by uh accelerating visas uh more talent by uh accelerating visas uh um um like um um like um um like having leaner processes with uh having leaner processes with uh having leaner processes with uh bureaucracy uh and so on and so forth. bureaucracy uh and so on and so forth. bureaucracy uh and so on and so forth. Yeah. Yeah. Yeah. >> Right. And so uh just jumping on that >> Right. And so uh just jumping on that >> Right. And so uh just jumping on that thought uh with 2026 around the corner thought uh with 2026 around the corner thought uh with 2026 around the corner what is it that you you uh expect or what is it that you you uh expect or what is it that you you uh expect or hope to see? What do you think it'll hope to see? What do you think it'll hope to see? What do you think it'll bring for the climate sector? bring for the climate sector? bring for the climate sector? >> I think in short uh we will see a

>> I think in short uh we will see a >> I think in short uh we will see a transition from climate tech as a transition from climate tech as a transition from climate tech as a vertical rather becoming a horizontal vertical rather becoming a horizontal vertical rather becoming a horizontal layer across multiple verticals and I layer across multiple verticals and I layer across multiple verticals and I think the lines between climate tech and think the lines between climate tech and think the lines between climate tech and industrial tech will blur. industrial tech will blur. industrial tech will blur. >> Mhm. Well, I look forward to it. that I >> Mhm. Well, I look forward to it. that I >> Mhm. Well, I look forward to it. that I hope to see great things from climate hope to see great things from climate hope to see great things from climate tech and from Uber Morgan Ventures in tech and from Uber Morgan Ventures in tech and from Uber Morgan Ventures in 2026. Yiannis, thank you so much for 2026. Yiannis, thank you so much for 2026. Yiannis, thank you so much for joining us and enjoy the rest of your joining us and enjoy the rest of your joining us and enjoy the rest of your day at Mind the Tech Berlin. day at Mind the Tech Berlin. day at Mind the Tech Berlin. >> Thanks so much.