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Helping climate technologies take off: Data modeling and start-up financing for carbon neutrality

10/11/2025

WU studies look at data-based pathways and recommendations for net-zero emissions

Achieving the goals of the Paris Climate Agreement will require innovation at record speed: Three-quarters of the required carbon emission reductions rely on technologies that are not yet mature. Two recent studies carried out at WU Vienna University of Economics and Business show how data-based models and targeted public and private investments can help to get climate technologies off the ground and counteract global warming.

Progress in climate technology does not happen by chance

The analysis of data from past climate-tech startups and their funding patterns helps identify the factors that enable new ventures to scale effectively. These insights also inform the modeling and development of emerging technologies such as direct air carbon capture and storage (DACCS). Ultimately, successful climate innovation requires coordinated financing mechanisms that combine public funding with strategic corporate expertise.

Together with international co-authors, Prof. Kavita Surana from the WU Institute for Data, Energy, and Sustainability has developed a model for predicting the market adoption of technologies in very early stages. The example used was DACCS, a process for capturing CO2 from the air. The team linked historical empirical data on the adoption of earlier technologies, such as solar power or natural gas infrastructure, with indicators for the early adoption of innovations in the energy market.

Depending on the assumed growth pathways, the potential of DACCS varies considerably, ranging from 0.2 to 4.9 gigatons of CO₂ removal per year by 2050.

  • If DACCS grows as quickly as photovoltaics, this could mean a breakthrough for carbon neutrality.

  • If the growth pathway is similar to that of fossil fuel infrastructures, the impact will remain significantly lower.

These immense differences have strategic implications for policy and investment: fast scaling requires capital, planning security, and policy support.

As Prof. Surana sums up, “With data-driven models, we can not only better assess whether a technology can scale but also what conditions are needed for technologies to scale.”

Up to 155% higher success rates: What climate tech startups really need

Prof. Surana and her team also investigate the financing dynamics in the climate tech sector. She has looked at over 2,900 US startups specializing in clean energy and climate technologies during the period from 2005 to 2020. Among other things, she measured how different sources of financing affect a startup’s chances of success:

  • Public grants play a crucial role in the early high-risk phases, gaining a foothold in the market, and filling investment gaps.

  • Additional corporate investments from the energy, mobility, or industrial sectors play an important role in consolidating and accelerating startup success:

Startups that received both public funding and corporate investments turned out to be 155% more likely to achieve successful IPOs or acquisitions.

  • Purely private investments without a relevant industry background resulted in a less pronounced success boost of merely 78%.

The bottom line: Progress in climate technology is the result of well-targeted, data-driven decisions and strong alliances between government, research, and business.

Watch the full video (5 min.):

The studies:

General references (excerpt):

WU matters. WU talks.

  • To watch Prof. Surana´s lecture and discussion on “Clean Energy. Local approaches and globally aligned action” click here.

Press contact

Christina Maria Bachmaier

Science Communication

Tel: +43-1-313-36-4973

Email: christina.bachmaier@wu.ac.at

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