, Columnist
Plug Power and Lordstown Show Trust Is a Precarious Thing
Equity markets will play a vital role in funding clean technology. But investors must be able to rely on what companies tell them.
Clean energy.
Photo: Bloomberg
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Overhauling the world’s industry, power systems and transport to halt the climate crisis will require hundreds of billions of dollars of new investment. Happily, the equity markets have been in a mood to write large checks.
High valuations are helping clean-tech companies attract vast amounts of capital to fund their ambitions. Special purpose acquisition companies, which raise money from investors and then find a company to merge with and take public, have further greased the money machine.