Energy Transition & Grid
Grid bottlenecks, industrial efficiency, and systems critical to Europe's energy transition
The focus is on the point where climate ambition becomes network engineering. That includes the systems, software, hardware, and services that help aging grids cope with more variable generation, more distributed load, and more operational complexity.
Core themes
- Grid-enhancing technologies and flexibility platforms
- Asset intelligence, inspection, and operational visibility
- Climate analytics and carbon management software
- Energy management systems and optimisation
Market dynamics
- Network modernisation is moving from policy conversation to deployment constraint.
- Value accrues to tools that work with the installed base, not only greenfield infrastructure.
- Companies need technical narratives that explain where value sits between regulated incumbents, operators, and new demand.
Advisory perspective
The strongest businesses here have a technical edge that becomes more defensible as networks grow tighter, older, and more distributed.
Climate Risk & Resilience
Technical platforms addressing physical risk, adaptation, and infrastructure resilience
Climate exposure is increasingly an operational problem rather than a reporting category. The most promising platforms help asset owners, operators, and capital providers understand and act on resilience in practical terms, connecting scenario logic to real-world infrastructure constraints.
Core themes
- Physical risk analytics and scenario tools
- Operational adaptation for real assets
- Resilience planning for energy and industrial systems
- Decision support tied to infrastructure constraints
Market dynamics
- The best resilience platforms are specific about decisions, not just dashboards.
- Customers need scenario logic that connects to action, budget, and asset plans.
- Institutional buyers still need sharper language around what resilience software actually replaces or unlocks.
Advisory perspective
The strongest businesses here turn climate complexity into concrete operating or capital allocation decisions.
Climate-Tech, AI & Industrial Deep-Tech
Hard-world software and technical systems that need clear capital translation
Some of the most interesting AI and deep-tech companies are constrained by power, cooling, hardware, integration, and sector trust rather than by model quality alone. The focus is on companies that can explain that stack coherently to institutional audiences.
Core themes
- Simulation and applied AI for hard-world systems
- Industrial software with meaningful technical depth
- Power-aware compute platforms and infrastructure dependencies
- Foundational tools that need stronger technical translation for capital markets
Market dynamics
- Applied AI in industrial contexts wins when it respects system constraints, not when it abstracts them away.
- Compute economics increasingly need to be framed alongside energy and infrastructure realities.
- The capital story must reflect the stack, not flatten it into generic AI language.
Advisory perspective
The strongest teams here have their real advantage in system design, technical integration, and disciplined explanation.