Tech companies have spent the past decade or more developing innovations that can be applied to old-world industries where structural impediments to technology adoption have only recently been broken down by the advent of incredibly powerful mobile devices. Now, these industries are at the heart of the president’s plan to build back better, and the hundreds of billions of dollars that are earmarked to make America great again will, either directly or indirectly, be a huge boost to a number of startups and large tech companies whose hardware and software services will enable much of the work the Biden administration wants done.
“The climate-oriented investment in Biden’s new plan would be roughly ten times what came through ARRA,” wrote Shayle Kann, a partner with the investment firm Energy Impact Partners. “It would present a huge opportunity for a variety of climate tech sectors, ranging from clean electricity to carbon management to vehicle electrification.”