While records amounts of venture capital are being invested in climate tech, we ask the question what is different now as compared to the investment boom of 10 years ago which by and large ended in bust. We find that we are in a better technological position than 10 years ago, mainly due to the success in bringing the cost of solar, wind and batteries down. However, financial barriers to massive deployment of these renewable assets remain. And more than half of the emission reductions needed for net zero needs to come from technologies that are not yet mature. While the innovation finance ecosystem is more mature now than 10 years ago, the EU is still lagging behind in venture capital. Public authorities are also more supportive now, but hard nuts regarding carbon pricing need to be cracked. These challenges come together in the case of decarbonisation of maritime shipping, which is one of the so called hard-to-abate-sectors. In conclusion, although a repeat of the boom and bust of climate tech of 10 years ago is less likely, it cannot be excluded. Financiers, innovators and policy makers should act on the lessons learnt
