Episodes
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Tom Montag, CEO of Rubicon Carbon, joins us to discuss the world of carbon credits. Tom has had an illustrious career, previously serving as Chief Operating Officer at Bank of America, President of Global Banking and Markets, and a member of the executive management team. He joined Merrill Lynch as Executive Vice President and Head of Global Sales and Trading in 2008, just before its merger with Bank of America. Before that, he was with Goldman Sachs, co-heading the Global Securities Business and serving on its management committee. He currently serves on the board of directors of Goldman Sachs Group Inc. and is a board member of Northwestern University, NYU Langone Medical Center, the Hispanic Federation, Deschutes Land Trust, and the Japan Society. He is also a former BlackRock board member.
In this episode, we dive into why, after such an accomplished career, Tom chose to dedicate his next chapter to carbon markets. We have a fascinating conversation about the current state of voluntary carbon markets and how Tom views them in relation to the financial services industry when he started his career in the 1980s. We explore why carbon credits matter, the circumstances under which companies should use them, and the origin of Rubicon Carbon, including the role of TPG’s Rise Fund. Tom also discusses Rubicon's approach to bundled credit offerings and addresses some of the trust challenges facing the carbon markets today, as well as where he believes they are headed.
In this episode, we cover:
[2:19] Tom's financial background and career pathway to Rubicon [5:21] The state of the voluntary carbon market, including its size and growth potential[7:41] Parallels between the early derivatives market and the current carbon markets[11:41] Challenges around additionality, financial hedging, and trust in the carbon markets[13:41] An overview of Rubicon Carbon[20:55] Regulatory and compliance considerations around carbon markets[26:30] The need for more standardization and risk adjustment in the VCM[33:44] Examples of Rubicon Carbon's projects and partnerships[36:08] Role of oil and gas in the future of VCM[40:12] Bull and bear cases for the future of carbon marketsEpisode recorded on Aug 22, 2024 (Published on Nov 11, 2024)
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Hannan Parvizian is Co-founder and CEO of Exowatt. Exowatt turned heads earlier this year when it announced a $20 million Seed round with backers including Andreessen Horowitz, Atomic, and Sam Altman, the CEO of OpenAI. The company has developed a novel combined solution for energy generation and storage that concentrates heat from the sun, stores it as thermal energy, and converts it on demand to electricity.
They've primarily focused their go-to-market around the data center boom driven by AI and argue that their solution is purpose-built for the massive energy need of data centers. We were eager to hear from Hannan as the rapid increase in energy demand from hyperscalers and AI remains a huge topic in the energy space, especially as we work to transition away from fossil fuels while also meeting AI-fueled demand.
In this episode, we explore Hannan's insights on the limitations of "traditional" solar PV and lithium-ion battery storage in meeting these needs—and how Exowatt aims to bridge this gap.
In this episode, we cover:
[2:01] An overview of Exowatt[4:56] Exowatt's technology and approach[6:29] Reasons for pursuing a thermal energy storage solution[14:46] Hannan's previous startup experience[16:45] How Exowatt's Seed round came together[20:07] Response to skepticism about Exowatt's technology[24:41] Technical details on the Exowatt P3 system[29:09] Geographical and land use considerations[34:33] Comparison of Exowatt's approach to other thermal energy storage solutions[38:59] Exowatt's manufacturing and deployment strategy[41:48] Pricing and economics of the company's system[43:10] Current deployments and future growth plans[43:44] Hannan's perspectives on Exowatt's competitive advantages and challenges[46:02] Where Exowatt needs helpEpisode recorded on Oct 10, 2024 (Published on Nov 7, 2024)
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Missing episodes?
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By now, you’ve likely noticed our refreshed look. We’re evolving the show to focus on the inevitable impacts of climate change and the groundbreaking solutions shaping our future.
To kick off this next chapter our first guest on Inevitable is Tom Steyer, Co-executive Chair at Galvanized Climate Solutions, a multi-strategy investment firm focused exclusively on the climate transition. A little over a year ago, Galvanize announced the final close of its Innovation + Expansion Fund at over $1 billion, one of the largest climate venture funds ever raised. Tom is also the recent author of the New York Times bestselling book, "Cheaper, Faster, Better: How We'll Win the Climate War," and he wrote the Forward to Project Drawdown.
In 2020, Tom was a Democratic presidential candidate with a climate-focused policy agenda, and he participated that year on the primary debate stage alongside now President Joe Biden and now VP Kamala Harris, among many other notable Democratic party leaders. He's the founder of NextGen America, the largest youth voter organization in the USA, which he created in 2013. But Tom hasn't always been focused on the energy transition and climate change. In 1986, he founded Farallon Capital Management, a multi-strategy hedge fund that he ran for over 25 years and grew to hundreds of employees and $20 billion in assets under management. His story of having incredible success in one field and then feeling the inevitable pull to work on the biggest problem of our time is exactly the type of pathway that we plan to explore on this show.
*We recorded this episode live during Climate Week NYC, in front of a fantastic audience. We'd like to thank them for joining as well as the folks at ethic for lending their beautiful space and JP Morgan for helping to sponsor the event.
In this episode, we cover:
[4:55] Tom's book theme: "do the obvious thing"[9:58] Tom's book theme: "the status quo will not go on forever"[13:53] Energy is wealth and how we can collectively retire fossil energy with renewables[17:06] Tom's decision to dedicate his career to climate and his early pathway[21:34] NextGen and the org's origins[23:32] Sharpening your bullshit detector[25:03] What prompted Tom's 2020 presidential run[26:05] The catalyst to Galvanize[29:26] The firm's different focus areas and strategy[34:45] Tom's "five plus one" approach to investing[38:01] The model Tom would like O&G companies to take in the transition[40:45] Thoughts on the "climate war"[44:13] What happens when climate tech is no longer a category[46:56] Tom's thoughts on permitting halting clean energy progress[49:59] Rapid fire topics including China and India[53:13] Hyperscalers and AI[55:01] Tom's policy wish list[59:29] His call to action for listenersEpisode recorded on Sept 24, 2024 (Published on Nov 4, 2024)
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Climate change is inevitable. It's already here.
But at the same time, the energy transition–the rewriting of industries to be cleaner, more profitable, and more resilient–is also inevitable.
Join MCJ Managing Partner Cody Simms each week as sits down with experts across sectors to explore the groundbreaking innovations and extraordinary people shaping the transition of energy and industry.
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Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at [email protected].
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Today on My Climate Journey, we’re bringing back a familiar voice: Jason Jacobs, Founder and Venture Partner at MCJ. In this special episode, Cody and Jason reflect on the evolution of MCJ and its mission to drive climate innovation. While this is the last episode under the My Climate Journey name, don’t worry—the show isn’t going away. The format will stay the same, but a new name is coming soon. Cody and Jason share lessons learned, the ongoing need for collaboration, and gratitude for the community built along the way.
In this episode, we cover:
[1:57] Jason's early climate journey and where MCJ fits in the transition[4:15] How Jason's feelings about climate change have evolved [6:43] The nature of discussion around topics like climate change[9:19] Jason's updated role at MCJ[10:31] His hopes for the future of the firm [11:15] Advice for folks starting their own climate journeys[12:11] Jason's thoughts on the role of oil and gas in the transition [13:17] And the role of activism [14:47] Jason's thoughts on the category of climate tech and market forces[17:50] Our collective responsibility to address the systems problem [19:57] The role of the MCJ show going forwardEpisode recorded on Oct 22, 2024 (Published on Oct 31, 2024)
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Joselyn Lai is the Co-founder and CEO at Bedrock Energy. Bedrock uses geothermal energy to transform the heating and cooling of buildings.
We've covered geothermal on the show a few times, but Bedrock brings a unique approach. On one end of the spectrum, we've explored large utility-scale geothermal projects, which aim to drill deep to tap into underground steam vents for turbine-powered electricity generation. On the other end, we've featured companies that drill relatively shallow wells to create underground loops, providing ground-source insulation for residential heat pumps. Bedrock falls closer to this second category but goes deeper than most residential projects, using these techniques to power heat pumps for large commercial and industrial buildings.
We were interested to hear from Joselyn about the technology she's developed to pursue this opportunity, what market demand looks like, and how her solution compares against the HVAC status quo and commercial-scale air-source heat pumps.
In this episode, we cover:
[2:24] Overview of Bedrock Energy and its geothermal approach[4:03] How Bedrock’s methods differ from other geothermal generation techniques[5:15] Joselyn's journey to founding Bedrock Energy[8:14] Focusing on the existing HVAC market[13:18] Integration of geothermal systems into commercial buildings[16:57] Overview of Bedrock's underground geothermal technology[22:18] On-site footprint of Bedrock’s geothermal solutions[29:32] Proprietary software and drilling innovations for efficient deployments[31:29] Understanding Bedrock’s early customer base[34:26] Challenges related to geology and labor shortages[38:58] Collaborating with utilities for enhanced grid benefits[43:57] Bedrock Energy’s progress and milestones so farAdditional episodes:
Residential Geothermal with Dandelion EnergyStartup Series: QuaiseEpisode recorded on Oct 3, 2024 (Published on Oct 24, 2024)
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Erica Nemser is CEO at Ardent, a Series A stage startup that's aiming to help drive industrial decarbonization by developing and selling membranes to perform point source carbon capture.
Point source capture differs from direct air capture in that it's focused on concentrated greenhouse gas emissions coming right out of the flue of an industrial system, as opposed to direct air capture (DAC), which attempts to capture emissions from ambient air. Ardent, formerly Compact Membrane Systems, has been operating for 30 years, but its pivot to carbon capture and tech startup status is recent.
In this episode, we discuss how Ardent’s technology stands out in the point source capture field, the industry's varied approaches to decarbonization, and how Erica’s leadership has guided the company's transformation.
In this episode, we cover:
[2:11] Rebranding from Compact Membrane Systems to Ardent[3:53] Ardent's membrane-based carbon capture solution and how it differs from other technologies [6:29] Erica's background and how it has informed her leadership at Ardent[7:37] Ardent's go-to-market strategy of partnering for scale[12:15] The company's hypothesis around facilitated transport membranes [13:05] An overview of Ardent's approach to industrial carbon capture [18:01]: Ardent’s low-energy membrane systems for carbon capture[19:50]: Overview of Ardent’s membrane system setup[23:03]: Addressing concerns about prolonging fossil fuel use with carbon capture[25:11]: Erica’s perspective on diverse solutions for industrial heat[32:06]: “Carbon Capture as a Service” explained[37:20]: Agricultural sector's interest in carbon capture[45:51]: Ardent’s global presence and talent searchEpisode recorded on Aug 1, 2024 (Published on Oct 17, 2024)
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Molly Yang is CEO and co-founder of Hgen, a company that develops clean hydrogen to decarbonize heavy industry. Specifically, they are working on alkaline electrolyzer technology to make it have higher efficiency and higher power density, which they claim will allow them to produce hydrogen with a smaller footprint and lower cost, using a modular, mass-manufacturable design.
Based in Los Angeles, Hgen has raised capital from Founders Fund, Fontinalis Partners, and Seven Seven Six among others. Prior to starting Hgen, Molly was on the Product team at Tesla, where she led initiatives across Tesla's industrial and residential energy products. Her co-founder and childhood friend, Colin Ho led actuation & power system for Starship and propulsion components for Crew Dragon at SpaceX.
In this episode, Molly and Cody talk all about Hgen's origin story, technology and market. Toward the end of the conversation, she offers her thoughts to other climate tech startup founders and climate tech investors about how to approach a market.
In this episode, we cover:
[3:13] Molly’s background at Tesla and her motivation for starting Hgen[6:09] Exploring different solutions for hard-to-abate sectors[8:30] Hgen’s focus on distributed hydrogen production through alkaline electrolysis[9:24] Comparing alkaline vs. PEM electrolyzers[14:16] The challenges and advantages of alkaline electrolyzers[16:10] Targeting markets that use hydrogen today and displacing gray hydrogen[22:10] Various use cases for hydrogen[25:06] Hgen’s progress and business model[27:49] Hgen is hiring![28:08] How different investors view hydrogen[34:25] Molly's advice for entrepreneursEpisode recorded on July 11, 2024 (Published on Oct 10, 2024)
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Russell Kenneth DeGraff spent 18 years as a staffer on Capitol Hill, including 12 years as the Chief Climate and Technology Advisor to Nancy Pelosi, notably during her second term as Speaker of the House. He was, as they say in the room where it happened when negotiating the landmark climate legislation of the last few years, including the Inflation Reduction Act, the Infrastructure Investment and Jobs Act, and the CHIPS and Science Act. This is a special conversation going deep into the backstory of how things work in Washington and how these once-in-a-generation climate policies came to be realized.
In this episode, we cover:
Russell's background and path to Capitol HillHis roles in congressional offices, including work with Congressman Mike Doyle and Speaker Nancy PelosiThe challenges of passing legislation in a closely divided SenateNegotiating and passing major climate policies like the Inflation Reduction Act, and the role of the House Select Committee on the Climate CrisisA case study on negotiating solar canalsDynamics of working with key senators, such as Joe ManchinRussell's current work with Stanford and HarvardReflections on January 6, the political climate, and the 2024 presidential electionAdvice for getting involved in electoral efforts to support climate actionRisks of losing recently passed climate policies if Democrats lose control of CongressWhy climate change is inherently a political issueEpisode recorded on Aug 6, 2024 (Published on Oct 7, 2024)
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This My Climate Journey podcast episode was recorded in front of a live audience at the Ion during Houston Energy and Climate Startup Week.
Zach Dell is the Co-founder and CEO of Base Power Company. Base aspires to build a reliable and affordable home energy service powered by distributed batteries. Their technology supports the grid during times of peak need and protects customers during outages. They claim to do this at a fraction of the cost of other solutions. Base is serving live customers in Texas and claims to be the only electricity provider to offer a home battery, monthly energy service, and installation, all in one with no requirement of rooftop solar.
MCJ is a proud investor in Base via our venture capital fund. The company recently raised a $68 million Series A round via Valor Equity Partners, Thrive Capital, and others in which we participated. In this episode, we dig into Zach's journey, the origins of Base, and what he sees as the path ahead for distributed storage and home energy as he builds a vertically integrated business in this enormous space.
In this episode, we cover:
[2:47] Zach's background and journey into entrepreneurship, with a focus on solving energy and climate problems[7:57] How he landed on batteries and met his co-founder, Justin Lopas[14:05] Base's residential approach in Texas [22:00] The company's business model and role in the energy market [25:03] Base's ideal customer [27:30] The battery's current and future manufacturing strategy [31:00] Zach's key learnings from starting a business[32:18] Base's company culture and who they're looking to hire[36:46] How Base could grow into other energy sectors [40:00] Zach's vision for the futureEpisode recorded on Sept 10, 2024 (Published on Oct 3, 2024)
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*This My Climate Journey podcast episode was recorded in front of a live audience at the Ion during Houston Energy and Climate Startup Week.
Our guest is, Vicki Hollub, CEO of Occidental Petroleum (Oxy), a century-old oil and gas company employing over 12,000 people globally with a market cap near $50 billion. Recently the company has made significant investments into what they refer to as “carbon management” technologies including the acquisition of Carbon Engineering, a Direct Air Capture (DAC) company, in 2023 for $1.1 billion. Oxy is commercializing Carbon Engineering’s technology through its 1PointFive initiative and aims to deploy 70 DAC facilities by 2035. These efforts include recently receiving draft permits from the EPA for Class VI Injection wells, enabling the permanent geologic sequestration of CO₂, an advance market commitment from Microsoft to purchase 500,000 metric tons of carbon removal, and an award from the US Department of Energy for up to $500M to build a 1M ton per year facility.
The conversation covers a lot of territory. Vicki acknowledges climate change and its effects on extreme weather and natural ecosystems, while also stating that Oxy does not view the energy transition as a shift away from oil and gas. Instead, she describes a future where oil and gas exploration could become carbon-negative through advancements in enhanced oil recovery (EOR), a technology that uses CO₂ to extract fossil fuels from otherwise depleted wells.
This is a notable interview for MCJ as Vicki is the first oil and gas CEO we’ve had on the show. We believe it’s important to understand how a company like Oxy, which has a very large greenhouse gas emissions footprint, thinks about its future plans. We also know that many who listen to this show are interested in Oxy’s DAC efforts and their perspective on the future of the technologies and markets around it.
Vicki became CEO in 2016, the first woman to lead a major American oil company. We are grateful to Katie Mehnert of ALLY Energy for connecting us with her for this conversation.
In this episode, we cover:
[03:28] Navigating the trust gap between O&G companies and the public[06:42] Vicki's early career path[08:32] The O&G boom in the Permian Basin in the mid-2000s[11:18] Vicki's path to becoming the first female CEO at Oxy[17:15] Changing dynamics and priorities while running a complex company like Oxy[18:00] How Vicki pitched Warren Buffet to invest in Oxy and navigated the impacts[21:11] How Oxy attracts and retains talent, plus generational differences[26:36] Challenges and opportunities Oxy sees in the energy transition[30:45] Navigating urgency relative to long-term planning[34:01] How the transition of innovation and legacy businesses could play out[44:36] Oxy's focus on carbon management, including direct air capture[49:55] Challenges in scaling DAC, including partnerships and funding[53:46] Vicki's thoughts on achieving a net-zero carbon barrel of oil[59:44] Her perspectives on the future of the oil and gas industry and its evolutionEpisode recorded on Sept 11, 2024 (Published on Oct 1, 2024)
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The election cycle can feel overwhelming for the average person who is climate-concerned, but not deeply political enough to understand where and how to plug in. If you have money to give, where should it go? If you have time to contribute, what should you do? We could think of no better group than the experts we have here to help walk us through it.
Tiernan Sittenfeld is the Senior Vice President of Government Affairs at LCV or the League of Conservation Voters, among many other things. LCV assigns every member of the U.S. Congress with a national environmental Scorecard, which is a handy tool for tracking their voter record on issues related to climate change.
Caroline Spears is the Executive Director at Climate Cabinet, which she describes as Moneyball meets climate policy. Climate Cabinet analyzes local climate and governance data to uncover high-leverage races and candidates across thousands of local offices. Caroline joined us previously on the pod a few years ago for a deep dive about her journey and her work.
Eliza Nemser is the Co-founder and Executive Director at Climate Changemakers, a modern climate advocacy network built for busy, productive people. They help individuals take productive climate action through action playbooks, issue briefings and hour-of-action co-working sessions. Eliza is also a repeat guest on the show.
A few disclaimers: One, this episode tends to be pretty pro-Democrat. Some of that comes from top-of-the-ticket sentiment such as former President Trump's withdrawal of the U.S. from the Paris Climate Agreement. Some of it comes from the most recent experience in Congress where the Inflation Reduction Act faced a 51 to 50 vote in the Senate that was evenly split down party lines with Vice President Harris breaking the tie. This is not to say that all Democrats are strong on climate. The Inflation Reduction Act nearly died many times inside the Democratic Party before it passed. And if you look up and down Congress and even farther into state and local politics, there are a wide range of LCV scores for Democratic candidates and there are some Republicans who are strong on climate issues as well. The second disclaimer is that climate is a huge topic. We didn't take time in the episode to talk about what it means to be a "climate voter."
We've learned one thing over the years, that you should never assume that climate-concerned people always agree on solutions. We intentionally didn't spend time going deep into the pros and cons of different policy platforms. And yes, there is an argument to be made that natural gas is a bridge fuel and that replacing coal aggressively with gas will help our emissions problem. But this episode is meant for people who already know they want to see progress around clean energy deployment across our economy and want some ideas on how to get involved in the election cycle.
*Watch the MCJ Collective member hub for a special Ask-Me-Anything session with Climate Changemakers.
In this episode, we cover:
[5:00] Intro to Tiernan and LCV[6:16] Intro to Caroline and Climate Cabinet[7:30] Intro to Eliza and Climate Changemakers[9:02] Climate stakes in this election[15:30] House and Senate race importance[21:30] Climate's political divide[28:45] House stakes this cycle[34:30] Texas election outlook[39:20] Key states to watch[42:17] Climate champion governors[44:13] LCV candidate scoring[47:15] Supporting candidates financially[57:22] How to participate and engage[1:08:21] Improving accessibility and outcomesEpisode recorded on Aug 30, 2024 (Published on Sept 16, 2024)
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Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at [email protected].
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Doug Bernauer is the CEO and Co-founder of Radiant. Radiant is developing a portable nuclear micro-reactor to replace diesel generators. They raised a $40 million Series B in 2023 led by a16z, after previously raising capital from investors including USV, Founders Fund, and DCVC. They're targeting the development of a portable, mostly self-contained, one-megawatt nuclear reactor that is roughly the size of a shipping container.
We've been focusing more on nuclear energy lately, exploring whether the US could reclaim its position as a global leader. With bipartisan support reflected in recent legislation like the ADVANCE Act signed into law by President Biden, there are signs of progress, but significant challenges remain.
In this episode, Doug discusses these challenges and delves into Radiant’s technology, use cases, fuel, and more.
In this episode, we cover:
[02:28]: Radiant's micro-reactor technology and applications [04:21]: Use cases for one-megawatt reactors, including disaster relief [06:36]: Description of Radiant’s reactor[10:26]: Cooling technologies used by Radiant[12:20]: Radiant's connection with Idaho National Lab's Pele design [13:40]: DOE and DoD funding for Radiant's nuclear technology[17:02]: Customer models and sales strategies for nuclear reactors [20:43]: Nuclear Regulatory Commission (NRC) approval processes for operating reactors [21:57]: Doug’s hopes for future regulatory parity with diesel generators [24:18]: Supply chain for High-Assay Low-Enriched Uranium (HALEU) fuel [28:38]: Challenges of NRC processes for micro-reactors [32:24]: Demand signals from remote and military applications for micro-reactors [35:31]: Current financing status and future fundraising plansEpisode recorded on Aug 8, 2024 (Published on Sep 12, 2024)
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Jeff Chapin is the Co-founder and Chief Product Officer at Haven Energy. Haven aims to make it easier for homeowners to install home battery systems, including choosing the right battery, permitting and installation, tax credits, and virtual power plant setup. Haven recently began offering bundled installation of solar and batteries. Jeff has seen scale before as he and his co-founder, Philip Krim, previously co-founded and grew the one-time darling, direct-to-consumer mattress company, Casper. Jeff has a long-time background in design at IDEO and credits this experience with training him for the context switching that's allowed him to move across very different industries, sectors, and technologies.
In this episode, we talk about consumer demand for batteries, how Haven works, the wonky and esoteric net metering regulations in California where Haven is prioritizing their go-to-market, and why Haven added solar to their offering recently.
In this episode, we cover:
[02:08]: Jeff's design-driven journey from IDEO to Casper[06:18]: Applying design thinking to home energy[08:45]: Retrofitting batteries to existing solar systems[11:30]: Challenges in the battery installation market[15:28]: Customizing battery options and customer incentives[21:35]: Installation process and energy management[26:03]: Financial benefits and tax credits[28:15]: Changes in net metering for rooftop solar[34:46]: Growing demand for solar and battery setups[41:06]: Series A funding and growth strategy for HavenEpisode recorded on Jul 23, 2024 (Published on Aug 29, 2024)
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Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at [email protected].
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Matt Soule is the CEO and Co-founder of Parallel Systems.
Parallel Systems is re-imagining how goods can be transported via rail by building automated battery-electric freight rail vehicles. These vehicles resemble box cars that can drive independently and form on-the-fly connections with each other to create mini trains. According to Matt, the goal is not to upend existing rail freight use cases but to rethink what’s possible on current rail infrastructure to address use cases traditionally managed by trucking.
Before founding Parallel Systems, Matt spent 13 years at SpaceX as an engineering leader in avionics. Parallel Systems has raised around $50 million from investors, including Anthos Capital and Congruent Capital. The conversation begins with a 101 primer on railways, a topic not previously covered on the show.
In this episode, we cover:
[2:31] Matt's background in rocket engineering[6:14] Energy efficiency: rail vs. trucks[7:31] History of US rail transportation[9:22] Rail industry ownership and subsidies[11:21] Rail transportation's environmental impact[14:44] Rail's challenges, especially for short trips[17:23] Industries using rail transport[18:53] Rail for non-critical and luxury use cases[23:05] Overview of Parallel Systems' self-assembling trains[28:37] Benefits of battery electrification in rail[31:21] Cost comparison: Parallel Systems vs. traditional rail and trucking[34:14] Current pilots and safety considerations[39:08] Expansion plans for new geographies[40:29] Business model: selling vehicles to railroads[44:08] Future of locomotives in the rail industryEpisode recorded on July 30, 2024 (Published on Aug 22, 2024)
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Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at [email protected].
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Katie Siegel is CEO and Co-founder at Flipturn. Flipturn is an EV charging management platform for fleets and we're diving into the electrification of trucking.
At the beginning of 2024, the Advanced Clean Fleets law came into effect in California creating a number of mandates for zero emissions vehicle adoption in the trucking space. And the law impacts any fleet doing business in California, so there are nationwide implications.
Cody and Katie dig into this as well as the impacts on various types of trucks and routes. As fleet managers begin to anticipate compliance, they're realizing that understanding and managing charging will need to become a core competency for them. All of a sudden, things like power procurement and efficient energy usage will become a huge part of the equation for running a business that moves goods around. Flipturn raised a seed round in 2023 from Accel and Katie brings hands-on experience into the company after having previously grown her career through IPO at Samsara, a leader in telematics and Internet of Things, connectivity services for trucking and logistics.
In this episode, we cover:
[01:48]: Flipturn’s mission to electrify trucking and enhance fleet management[02:28]: Katie's journey from Samsara to founding Flipturn[03:39]: From telematics to EV infrastructure innovation[05:14]: Transportation's role in pollution and the shift to electrification[07:19]: Focus on electrifying last mile delivery and drayage[10:25]: Differences in EV charging needs for delivery vans vs. drayage trucks[17:23]: Flipturn’s software for efficient fleet charging[19:00]: Strategies for setting up fleet charging stations[22:21]: Challenges and solutions in vehicle electrification[27:32]: Integrating truck OEMs with charging networks[30:06]: How fleets choose charging software[33:23]: Hydrogen vehicles in new zero-emissions law[35:12]: Evolving challenges in the trucking industryEpisode recorded on Jun 27, 2024 (Published on Aug 15, 2024)
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Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at [email protected].
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Julia Strong is the Executive Director of Symbiosis Coalition. Announced in early 2024, Symbiosis Coalition is an advanced market commitment from Google, Meta, Microsoft, and Salesforce to purchase up to 20 million tons of nature-based carbon removals.
The forestry credit space has faced challenges over the last couple of years, prompting interest in how Julia and these large tech companies collaborated to stimulate activity in the sector. Conversations about forestry should be relatively straightforward, considering forests, along with oceans and soil, are natural carbon sinks. Preserving and restoring forests is crucial, yet the complexity surrounding forestry credits always brings new insights. We’re grateful to Julia for sharing more about the formation of Symbiosis Coalition, criteria for high-quality credits, barriers to bankability, and more.
In this episode, we cover:
An overview of Symbiosis CoalitionThe formation of the coalitionJulia's background in nature-based solutionsCriteria for high-quality forestry carbon removal projectsCounterfactuals in forest protection vs restorationRegions for reforestation effortsMotivations for landownersThe role of project developersBarriers to bankability and how Symbiosis is approaching themPotential financing and perceived riskSymbiosis' quality criteria: conservative accounting, durability, social and community benefits, ecological integrity, and transparencySymbiosis' mangrove restorationWorking with local and indigenous communitiesGoals for Symbiosis' transparencyJulia's podcast Solving Climate NaturallyEpisode recorded on July 9, 2024 (Published on Aug 12, 2024)
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Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at [email protected].
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Joe Daniel is a Principal on the Carbon-Free Electricity Team at RMI.
Our topic today is coal, specifically the "non-economic dispatch" of coal. This phenomenon occurs when coal-fired power plants deliver power to electricity grids even when their electricity is not the most cost-effective option, thereby disrupting the "merit order" of electricity dispatch. This complex topic is explored with Joe's help, as he provides insights into this intricate issue. The US electric grid is notoriously difficult to understand, and there may be moments when the conversation becomes challenging. However, Joe and Cody consistently strive to make the concepts clear and accessible.
The complexity of the system contributes to the problems Joe highlights. Information asymmetry creates economic friction, which disadvantages renewables, despite their general economic superiority. Joe's work at RMI involves developing and deploying quantitative tools, such as RMI's Economic Dispatch Hub, which he will discuss. These tools aim to accelerate affordable and equitable utility de-carbonization pathways.
In this episode, we cover:
[2:42] Joe's background and work at RMI[4:25] Seasonality and cyclical trends in coal usage[6:20] Operation and flexibility of coal plants[10:05] Merit order and prioritizing resources based on cost[12:25] Types of resources and their cost ranking[16:01] Dispatching resources and electricity sources[21:03] Non-economic dispatch of coal and cost impacts[25:02] Public utility commissions' role in regulation[29:23] Need for transparency and market price signals[33:31] Smooth energy transition and coal's future role[39:09] RMI's role in providing expertise and assistance[40:30] Cost implications and solutions for non-economic dispatch[43:49] Public engagement in utility commission hearings[46:16] Policy and local engagement in clean energy adoptionEpisode recorded on July 18, 2024 (Published on Aug 4, 2024)
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Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at [email protected].
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Siva Yellamraju is the Co-founder and CEO at Fourier.
Fourier's mission is to make hydrogen universally accessible with on-site and on-demand production. Fourier is not Siva's first startup, it's his fourth. He sold his last company to Apple the one before that to Google and the one before that to Polycom, so he knows a thing or two about entrepreneurship.
Fourier is barely two years old and they raised a seed round in mid-April led by General Catalyst. They've largely operated in stealth. In fact, there's nothing on their website at fourier.earth other than their thesis statement for starting the company, so we were excited to learn from Siva about why he transitioned from a very successful entrepreneurial career in software to tackle a business in the energy sector. We were also eager to learn specifically about what Siva’'s building in distributed hydrogen and what he's learned from the process thus far.
In this episode, we cover:
[2:01] Siva’s entrepreneurial background[4:46] His decision to work on climate and energy [7:35] Customer pain point understanding [12:44] Potential use cases for distributed hydrogen, including power backup solutions and data centers[15:04] Approaching hydrogen production as a data problem[21:47] Customers working with Fourier as part of a broader movement around clean energy [24:01] Potential use cases for distributed hydrogen, including power backup solutions and data centers[27:14] Advantages of hydrogen over batteries for long-term storage and heavy transportation [33:20] Geographic markets for hydrogen deployment; the US, Germany, India, and Indonesia[35:33] Fourier's success to date and plans for commercial rollout [37:12] The goals for Fourier's pilots in the US and India [40:16] Siva's learning curves in building an energy company [42:29] Potential for India to become a leader in hydrogen[44:21] The name behind Fourier [45:34] Fourier's current capital and hiring needsEpisode recorded on July 25, 2024 (Published on Aug 1, 2024)
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Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at [email protected].
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Japan is important to consider on the global energy stage. The country’s emissions footprint is considerably smaller than China and the U.S. While Japan's energy footprint isn't growing as rapidly as India's, it’s still the fifth-largest emitter of any country globally, with emissions representing roughly three to 4% of the global total. Japan's energy system is heavily fossil fuel-based, especially after it cut nuclear power generation from roughly one-third to zero in the aftermath of the 2011 Fukushima incident.
Today we're diving into the Japanese energy economy and decarbonization efforts with Isshu Kikuma. Isshu has been with Bloomberg New Energy Finance since 2018, and up until last month his role there was Japan Energy Analyst. He just switched his focus to the energy storage world, but clearly brings a wealth of knowledge on Japan, energy, and decarbonization.
We've been doing these geo tours on the pod for a while, covering countries like China, India, Brazil, and Kenya. Just check out our pod archives at the links below.
In this episode, we cover:
Japan's current power mix and heavy reliance on fossil fuels Decrease in nuclear power generation after the Fukushima incidentThe country's share of renewablesChallenges and potential of offshore wind in JapanPrograms and initiatives to encourage emission reductions, including the feed-in tariff schemeThe structure of Japan's power grid and interconnections between regionsThe role of industry in energy use and emissions reductionJapan's emissions targets Market-based levers and consumer programs in Japan, including the RE-100 initiative and EV subsidiesJapan's funding of coal power plants in other Southeast Asian countriesClimate change impacts on Japan and resiliency efforts The role of battery energy storage in Japan's power gridGeothermal and more✈️ Travel With Us:
China’s Role in the Global Energy TransitionNarendra Taneja on India’s Energy PoliciesDr. Carlos Nobre’s Roadmap for Brazil’s Climate FuturePowering Up KenyaEpisode recorded on June 4, 2024 (Published on July 22, 2024)
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Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at [email protected].
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