As the energy transition shifts from innovation to large-scale buildout, a new market is emerging for growth credit and hybrid capital. This piece outlines the opportunity in growth credit and hybrid capital to finance companies in the critical scale-up phase, where assets are tangible but traditional debt remains out of reach.

From the $370 million close of Galvanize Real Estate Fund I to breakthroughs in geothermal, AI infrastructure, and nuclear energy, this month’s update explores how capital and technology are accelerating the buildout of the climate economy.

The US is entering a new chapter in nuclear energy, driven by a simple reality, Co-Chair Secretary John Kerry argues in a new Semafor column: The shifting fundamentals of power demand have made it a necessity.