Technology start-up founders and investors trying to change the way energy is sold, and generated, say they are digging in to ride out a global squeeze in valuations, which has seen some highly-backed companies laying off staff in droves.

A growing band of local companies, falling under an umbrella term of “climate tech”, has emerged in recent years, with some raising significant funding. However, growing caution in investment markets is leading to concerns some could struggle to survive long enough to achieve their ambitious aims.