09 February 2024

HSBC partners Google Cloud to back climate tech firms

Written By FinTech Alliance

HSBC partners Google Cloud to back climate tech firms

HSBC has joined forces with Google Cloud to offer venture debt financing options to climate technology companies.

IN BRIEF:

- The Google Cloud Ready - Sustainability validation programme is designed for companies with solutions available on Google Cloud that help customers achieve sustainability goals

- Under the new partnership, these firms will be offered access to HSBC’s specialist climate tech finance team to explore venture debt financing options.

- The deal has already seen HSBC put together a financing package for LevelTen Energy, which provides renewable transaction infrastructure for buyers, sellers, advisors and financiers in the clean energy economy.

What does this mean?

Natalie Blyth, global head, commercial banking sustainability, HSBC, says: “By combining financing support, cloud technologies and connectivity to partners across our combined footprints, we will help climate tech vendors accelerate their growth, and develop the solutions we urgently need at scale.”

Read more here.

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