• Since 2015, there have been substantial increases in the average deal size in the Transport and Mobility and Carbon Tech industries. The average deal size in Transport and Mobility has seen a twenty-fold increase over the past six years, going from $10.7 million in 2015 to $223 million in 2021. During that same time, the Carbon Tech deal average went from $2 million to $195 million in 2021. This rise is primarily driven by the few big investments that have been occurring with more frequency in the last few years. For example, in Carbon Tech, if the $2 billion investment in Carbon Fintech company, Generate, is not included, the average deal size drops down to just $15 million.
  • Some key decarbonization sectors have seen limited growth in investment in recent years. There has been little growth in the average deal size for Built Environment,119 Industry & Materials, and Land Use. In fact, the average deal size for Land Use was more than twice as high in 2015 ($47 million) than it was this year ($21 million). The average deal size for Energy Transition was at an all-time high in 2021 at $47 million. Moreover, the total number of deals year-to-date compared to 2020 is down in Transport and Mobility, and Energy Systems, and Industry & Materials, staying roughly the same for Food Systems, and increasing in Built Environment and Carbon Tech. When comparing to their prior three-year average year-to-date, all categories have increased their number of deals.

119 Built Environment is a Clean Tech category made up of companies focused on improving efficiency and resource use in built structures. It consists of Energy Efficiency, Heating/Cooling, Low GHG Construction, and Water.