The financing from HSBC is expected to support climate tech start-ups to create a range of new solutions.
These include EV charging, battery storage, sustainable food and agriculture, and carbon removal technologies.
HSBC aims to support climate tech innovation to scale, supporting early-stage companies and providing capital for first-of-a-kind demonstration projects, including through its $100m investment in Breakthrough Energy Catalyst.
The firm aims to deepen its support for the ecosystem of clime tech innovation.
Barry O’Byrne, CEO of global commercial banking at HSBC said: “Access to finance is critical for early-stage climate tech companies to create and scale real-world solutions. We are already working with some of the most exciting companies at the forefront of climate tech, from seed to global scale-up. With HSBC’s global reach, in-house climate tech expertise, and newly launched Innovation Banking proposition, we can offer these pioneer companies unrivalled support.”
On 18September 2023, Racquel Oden was named head of wealth and personal banking at HSBC USA.
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In this position, Oden will be in charge of the HSBC wealth management, global private banking, and retail divisions in the US.
She will start working at the bank in December.
Also, HSBC Holdings’ Saudi Arabia branch appointed two new managing directors and co-head of investment banking.