The missing capital for climate startups: more debt

The missing capital for climate startups: more debt

July 29, 2026 · 44 min

About this episode

Dimitry Gershenson discusses the role of specialized debt in supporting climate startups and the challenges of fundraising in the current economic climate.

Climate tech companies are often forced to rely on expensive equity to bridge the gap between government grant awards and the cash needed to get projects off the ground. But for founders building the physical infrastructure of the clean energy transition, dilutive capital isn't always the right tool. For many, it’s not even an option. Dimitry Gershenson, CEO and co-founder of Enduring Planet, is proving that a specialized approach to debt can fix that.  By underwriting government grants and providing working capital to climate startups, Enduring Planet is solving a critical, often-overlooked friction point in the transition. Its model, which hinges on operational efficiency and profitability, provides a blueprint for how climate-focused debt can scale without the pitfalls of traditional venture debt. But also, according to Dimitry, it isn’t always wrong to accept venture debt, contrary to widespread belief. In this episode, host Lara Pierpoint talks with Dimitry about the dynamics of climate debt, the "brutal reality" of fundraising in a volatile macro environment, and why Enduring Planet's approach to working capital is more critical than ever for the next generation of…

People in this episode

Host: Lara Pierpoint

Guest: Dimitry Gershenson

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Mentioned in this episode

Organizations: Enduring Planet, Latitude Media, Trellis Climate

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