Companies developing solutions for the climate crisis were among the top casualties of the Silicon Valley Bank (SVB) collapse. The bank worked with more than 1,550 technology firms involved in solar, hydrogen, and battery storage projects. This development will adversely affect efforts to cut down on the emission of greenhouse gases that are dangerously heating the planet.
There are several ways in which the SVB collapse is affecting its customers from the start-up industry:
- Many of these start-up companies are worried if they will make payroll for their employees.
- These companies feel that this scenario will complicate their relationships with some suppliers and partners.
- The collapse severely affects the ability of the affected start-ups to invest in future projects.
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