This is

a change of the a change. This is exchanges at Goldman Sachs.

I'm Heath Terry of Goldman Sachs research.

Jake Stewart is off this week. Welcome to another

episode of our Venture Capital Horizon series where we use the lens of

venture capital to identify emerging technologies, business models, and

entrepreneurs. In our first episode we looked at the growth of a new field of medicine called computational biology.

And during a time when we are reminded daily of the critical role science plays in solving the world's biggest problems,

we're now going to dive into clean energy technology

and how sustainable power, energy storage, and decarbonization can help shape our future.

Clean energy technology has been a priority for governments and some corporations for a while.

But it's had a tricky relationship to venture capital.

As recently as 2013, we saw a nearly 40% decline in VC funding into the space following a number of high-profile venture-backed failures.

But that's changing. The European Commission's European Green Deal aims to reduce the EU's net carbon emissions to zero by 2050,

and by our economists' estimates could amount to 7 trillion of cumulative spending.

In ESG investing, growth in sustainable assets

increased by 34% between 2016 and 2018.

And venture is no exception.

$31 billion has gone into the category over the last three years,

a more than 130% increase over the prior three-year period.

One of the areas that has recently attracted growing interest in BC funding is nuclear energy.

Now of course nuclear energy has been around for quite some time and its history has been a complicated

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