Start Up Energy Transition (SET)'s post


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👀 Planning to build a First-of-a-Kind (FOAK) facility to test your product's scalability? Here's your roadmap to secure that crucial funding. In the #climatetech sector, First-of-a-Kind (FOAK) is an important milestone for hardware start-ups. It represents the crucial transition from a conceptual idea to a commercial technology. Specifically, FOAK often refers to pilot plants or facilities that serve as real-world testing grounds for your innovative solutions. 💰 Building a FOAK is no small feat, often requiring between $10M to $30M for a small-scale plant, according to Extantia. Convincing VCs to invest in such capital-intensive projects can be tough, but the landscape is changing. Investors are increasingly recognizing that software solutions alone can't tackle the physical challenges posed by the climate crisis. In fact, 10% of total climate tech investment in Europe now goes to these start-ups, according to Sifted analysis. 🚀 Consider the recent win of Dutch battery innovator LeydenJar, a 2022 #SETAward finalist. They've recently landed €30 million in European Investment Bank financing, to scale up their silicone anode battery technology with the launch of their first production facility, "Plant One." Ready to make your FOAK dreams a reality? Here are some tips from Yair Reem, partner at Extantia to get you started. More on FOAKs and why they're essential in climate technology 👉

More on LeydenJar's tech 👉

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