Europe's clean technology ambitions have suffered a setback with the bankruptcy filing of Northvolt AB, a once-prominent battery startup in the region. This development raises concerns about Europe's ability to compete with the US and China in the tech sector, particularly in addressing climate change.
The collapse of Northvolt highlights a gap in experience and execution within Europe's clean tech industry, despite the availability of capital and ambition. As Europe grapples with its economic standing and commitment to combat climate change, it may need to consider seeking external assistance to strengthen its clean tech initiatives.