On November 21st, Berkeley Haas hosted the second annual Climate Solutions Fund (CSF) Pitch Day — a flagship event where MBA student teams act as real-world investment managers, presenting climate-tech and sustainability investment opportunities to industry judges. The energy in Spieker Forum was high as students, alumni, mentors, and investors gathered to support and evaluate solutions that could shape the next generation of sustainable infrastructure and carbon-reducing technologies.

What is CSF and Why It Matters

Launched in Fall 2024, CSF gives students hands-on responsibility managing a multi-asset-class private investment fund. Instead of hypothetical case studies, students source actual deals, perform due diligence, model economics, and pitch to real investors. The goal is to funnel capital toward “hard-to-finance” climate solutions — projects that tend to sit between early-stage venture capital and large infrastructure funds, including clean energy assets, decarbonized manufacturing, regenerative agriculture, water systems, and novel climate technologies.

Update from 2024 Investment Winner

We started the day with an update from last year’s winner, Caelux, who updated us on their perovskite technology and the company’s expansion since last year, including their first commercial shipment in July.

Lynda Negron, Former CSF Student and Scott Graybeal, CEO of Caelux

2025 Finalist Teams in the Spotlight

This year’s Pitch Day featured four finalist teams, each presenting a distinct climate-tech investment thesis:

  • Sage Geosystems — geothermal power + energy storage
  • ZymoChem — bio-based alternatives to fossil-derived polymers & nylon
  • MyLand — algae-based soil-health and regenerative agriculture inputs
  • Emrgy — updated water infrastructure via advanced hydropower and trenchless systems

The semi-finalists were:

  • Silvec — novel RNA vaccines to protect agriculture against diseases that are  exacerbated by climate change
  • X-Energy — modular nuclear reactors
  • VEIR — advanced conductors and cooling systems for data centers, utilities, and electricity generators
  • Fourth Power– thermal energy-storage

Highlights from the Presentations

  • Sage Geosystems seized the atmosphere early with a compelling narrative around the growing demand for firm, clean power — especially in the context of rapid data-center expansion and annual solar capacity additions. Their thesis argued that next-gen geothermal, paired with energy storage, could deliver reliable, dispatchable clean energy with strong long-term contracts.
  • ZymoChem addressed the massive environmental footprint of polymer-derived everyday products. Their “drop-in” plant-based substitutes for super-absorbent polymers and engineering-grade nylon aim to reduce carbon emissions, microplastic pollution, and reliance on petroleum feedstocks — all while fitting existing supply chains.
  • MyLand proposed a regenerative agriculture solution centered on microalgae-based soil amendments. By improving soil health and crop yields, they aim to reduce fertilizer and pesticide use, with potential benefits for water usage, carbon sequestration, and long-term soil resilience.
  • Emrgy tackled aging water and hydro-infrastructure with scalable distributed hydropower and modern “yellow-iron” canal and trenchless rehabilitation machinery — a sector often overlooked by typical venture funds but critical for climate adaptation and water-system modernization.

Across teams, judges noted strong underlying theses, thoughtful unit-economics modeling, and clear awareness of real-world execution risks.

Sofi Trexler, Iliana Griva, and Rachael Abayomi pitch an investment in Sage Geosystems.

Fireside Chat: Big Picture from Industry Leaders

The event also featured a fireside chat with a distinguished guest: Colin le Duc, founding partner at Generation Investment Management. In conversation with faculty and students, le Duc reflected on two decades of sustainable investing and shared key lessons:

  • Long-term, research-driven investing remains fundamental. Short-term hype can be seductive, but true value (and impact) comes from conviction, patience, and deep diligence.
  • Sustainability is now central to global finance. As systemic climate risks mount, institutional asset owners are increasingly allocating capital to resilient, impact-oriented strategies.
  • Real transparency matters. He highlighted new data-driven tools — including emissions-tracking satellites and Earth observation systems — that exceed traditional corporate ESG reporting in accuracy and accountability.

Le Duc encouraged students to move beyond narrow ESG taxonomies and develop a systems-level mindset, recognizing sustainability as inseparable from financial fundamentals.

Judges’ Feedback: Where Each Proposal Landed

The panel of judges—representing UC Investments, CalSTRS, Capricorn Investment Group, and DCVC—offered detailed critique and encouragement of the student pitches:

  • For MyLand, judges praised the memo and presentation structure but requested deeper clarity on break-even timelines, valuation assumptions, and evidence connecting soil-impact claims to measurable reductions in fertilizer and pesticide use.
  • The ZymoChem team earned high marks for addressing a large plastics problem with a diversified product-line strategy, though judges asked for a clearer articulation of the company’s technological differentiation and a more dynamic upside scenario.
  • Sage Geosystems impressed with its clean-power thesis and potential carbon impact; judges expressed curiosity about key partners, permitting timelines, and the evolution of the storage business.
  • Emrgy was recognized for tackling critical but underfunded infrastructure needs; judges asked for greater detail on international equipment sales, PPA conversion rates, and revenue sustainability over the next 24 months.

Overall, the judges underscored the rising sophistication of this year’s cohort which continued to exceed expectations and raise the bar for the Climate Solutions Fund program.

Wendy Pulling of UC Investments and Joakim Mahlberg of CalSTRS served as judges for the day.

A Growing Legacy of Impact Investing at Haas

In her closing remarks, Dean Jenny Chatman celebrated the achievements of all teams and reaffirmed Haas’s leadership in sustainable finance. She recognized the generous alumni and donors who have made the Climate Solutions Fund possible, including early supporters who helped launch the Sustainable and Impact Finance Initiative.

As the audience mingled over lunch, students and professionals reflected on CSF Pitch Day as a cornerstone of experiential learning – one that blends rigorous academic training with the real-world practice of climate investing.

And the Winner Is…Sage Geosystems!

After careful deliberation, the judges awarded the $300,000 CSF investment to Sage Geosystems. Their geothermal + storage thesis, backed by strong sector tailwinds and a credible long-term revenue model, resonated most with the judges’ vision for scalable, high-impact climate investing. The team joined faculty, judges, and peers on stage for a celebratory moment marking the second official investment from the grantmaking fund.

The winning team is presented with the giant check! (From left to right, Dean Jenny Chatman, students Finn Kuhl, Sofi Trexler, Iliana Griva, and Rachael Abayomi, CSF Faculty Todd Evans and Matt Price)

What’s Next

CSF cohorts in future semesters will build upon this year’s work, bringing new sectors, new strategies, and the same mission: mobilizing meaningful capital toward climate solutions.