Greg Moran

I love stories like Samuel's about how he switched on to the need for the transition and found his pathway to having impact. Each of us has to find their own light switch and their own pathway. Prof Smil is such a troubling figure. Brilliant, charming, persuasive - yet he has used his skills to discourage us from working on what we all understand is a vast and daunting problem. All light switch, no pathway. For decades he propagated the Primary Energy Fallacy - the idea that renewable energy had to replace all "Primary Energy Demand", even though that is not a measure of demand at all: 2/3 of it is lost en route, mainly waste heat from burning coal, oil and gas. We need to provide energy services, we do not need to burn things. And he hasn't devoted 1% of his brilliance to explaining what we *should* do, rather than what we *shouldn't* do. OK, we get it, it's hard to change big systems fast. So where's the Smil plan? Even if we can't stop climate change dead in its tracks, we have to do the best we can. Every 0.1C matters. My light switch was seeing the damage being done to my beloved high mountain environments - glaciers disappearing, historic climbing routes becoming unusable because of rockfall as the permafrost melts. And my pathway was to help people understand in practice solutions - and not just renewables - that *could*, at least in theory, scale fast enough to make a difference. We now have enough manufacturing capacity to replace 5% of global electricity with solar every year. Soon to be 10%. If you put one grain of rice on the first square of the chess board, and two grains on the second square, you may not yet have enough to feed a Prof Smil, but we all know what happens next. So buckle up, listen to the Cleaning Up Podcast episode with Jenny, and even if you think you can't do much, you can. You could help someone else, early in their career, find their light switch and their pathway! And make sure you tell people your own light switch and pathway story. Narratives matter. https://lnkd.in/gTVyu4-3

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Last week Peak Energy announced its $55M oversubscribed series A, which Xora Innovation led, joined by lead seed investor Eclipse (Greg Reichow, Ryan Gibson), as well as TDK Ventures (Anil Achyuta), TechEnergy Ventures (Alejandro Solé), Doral Energy-Tech Ventures (Roee Furman), Lachy Groom, and Tishman Speyer (David Aron). Special thanks to 🌱🤝🌍 Anil Achyuta for the original introduction.   Peak is commercializing a new standard in grid-scale energy storage systems based on sodium-ion batteries. Peak’s market is benefiting from the twin tailwinds of renewables and AI, and the company has just the right founding team to scale at "ludicrous speed".   Landon Mossburg, Co-Founder and CEO, is one of the most phenomenal team builders we have had the privilege of backing. He brings deep experience in building battery gigafactories from his prior role as Chief Automation Officer of Northvolt, where he didn’t shy away from sleeping on factory floors for months in Northern Europe.   We have a special place in our hearts for entrepreneurs who have the grit to spend 10 years+ building deep tech startups from the foundational stage to commercialization. Cameron Dales, Co-Founder, President and Chief Commercial Officer, has done it not only once, but twice, at Symyx Technologies and Enovix (current market cap $2.65B).   Liam O'Connor O’Connor, Co-Founder and COO, previously scaled major portions of Tesla’s and Apple’s supply chains, flying over 500,000 miles a year when required. Liam has a deep understanding of what it takes to build resilient supply chains in hypergrowth mode, having previously scaled from <$5B to $40B in spend over a matter of a few years.   The climate tech sector is in need of more entrepreneurs who truly understand what building on a massive industrial scale means. We couldn’t be more excited that Landon, Cam and Liam have decided to apply their talents to enabling grid-scale energy storage.

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Iron-Air technology and emerging alternatives are set to transform multi-day energy storage. On August 13, Form Energy announced the successful pilot of their iron-air battery system, a breakthrough in multi-day energy storage technology. The global energy storage market is facing a critical challenge: how to store renewable energy for extended periods at a low cost. Advancements in materials science and increased investment in research have paved the way for new technologies like iron-air batteries. Iron-air batteries and other electrochemical solutions may be about to ‘pull ahead’ competing technologies to become the go-to solution. Other novel technologies are likely to emerge on the the success of Form Energy's iron-air battery pilot - the news may catalyze a wave of new projects in the long-duration energy storage space. https://lnkd.in/eyETivB4

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I want to share a great interview on the Real Vision platform. Their Global Macro series allows laymen such as myself to quickly grasp how macro factors are driving underlying market sentiment. What really stood out for me was part of the conversation around populism, its impact on markets and how that should drive investment principles over the next decade. Populism is contextualized as a political and economic movement driven by widespread public dissatisfaction with the status quo, particularly among the middle and lower classes. This dissatisfaction has been building over decades, driven by rising inequality, stagnant wages, and a perception that the economic system disproportionately benefits the wealthy elite. This in turn has led to significant shifts in the political landscape, with both the right and the left adopting more populist policies. This alignment of both sides towards populist economic policies reflects a broader shift in political dynamics. This aligned political outlook has driven expansive fiscal policies, such as increased government spending and stimulus measures. It also points to a rise in protectionism and de-globalization as populist governments seek to prioritize domestic industries and jobs over global trade. This spending can drive inflation, especially when combined with supply chain constraints and labor shortages. The argument presented is that while these policies might provide short-term relief to the middle and lower classes, they do not address the root causes of inequality and may lead to further economic imbalances. And here's the kicker...….. Historical Parallel: 1968-1982 was another era marked by high inflation, political unrest, and economic volatility, during which time real returns on equities and bonds were significantly negative. Are we in a similar period, where populist policies could lead to long-term market underperformance, particularly for traditional 60/40 portfolios? But then how do we account for S&P being up 21% in 2024? The thesis here revolves around how populist policies tend to lead to increased fiscal and monetary stimulus during election years. It cites historical data showing that, despite overall poor market performance during populist cycles, election years often see strong market returns due to government efforts to stimulate the economy and secure votes. This creates a short-term bullish environment within a broader bearish cycle. These bouts of populist policies rarely die out quickly and the expectation is that we are somewhere in year 4 of a decade long cycle. And my key take away - rely less on passive investments and start to focus increasingly on active investment strategies and, in my personal opinion, bitcoin!! Perhaps think of cycling out some part of the portfolio from ETFs and Mutual Funds into actively managed mandates?? Have a great week ahead. #GlobalMacro #MarketSentiment #Populism #WealthManagement #MonetaryPolicy

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Excited to see the 2024 Israel Energy Tech Landscape Map. The energy sector is ground zero for climate action, and Israel's "Impatient Innovation" approach is a game-changer. The map outlines over 300 energy tech companies who have taken part in the innovation to combat climate change. 40% of these companies are in late-stage developments, ready for VC investment and partnerships. This focus on disruptive solutions across the entire energy value chain, such as generation, storage, smart grids and more, positions Israeli startups as key partners in the global energy transition. Waste-to-Energy, Hydrogen, and Carbon Capture are just a few examples of how Israeli startups are tackling the full spectrum of challenges. How do you think VCs and investors can best support the continued growth and global reach of Israeli energy tech startups? Check out the full Landscape Map for a deep dive into each subsector here > https://lnkd.in/dfqbz7t2 #ClimateAction #VCs #ImpatientInnovation #IsraeliStartups

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Putting a price on carbon creates an economic incentive to reduce emissions. While there are important issues that need to be worked out to create robust, transparent and trustworthy carbon markets, they will become an essential market mechanism to accelerate the transformation of business and industry towards a low-carbon future. My colleagues James Socas, Maxwell Hummel and I present an overview of the current landscape and the investment opportunities arising from this trend in our new piece released during the World Future Energy Summit last week.

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🚀 Calling all adopters of #proptech and #construction tech: real estate developers, builders, and owner-operators, and more! 🌟 Big News! I’m thrilled to announce our partnership with Wells Fargo Innovation Incubator (IN2), co-administered by the U.S. Department of Energy’s National Renewable Energy Laboratory, to accelerate cleantech adoption. This is a first-of-its-kind initiative bringing public and private industry together to drive the digitization and decarbonization of the built environment with a focus on the adoption of startup technologies by end customers. I couldn’t be more excited to collaborate closely with IN² and NREL’s incredible teams to build the industry’s first Adoption Playbook, and the impact this program will have to catalyze more sustainable innovation implementation to our built world. Led by Program Manager Sarah Derdowski, NREL's team is backed by world-class research and a history of running successful incubators. 💡 If you're a forward-thinking organization that is seeking to innovate your real estate footprint, apply today. Adopters can receive up to $250,000 in grant funding to pilot cutting-edge technologies, while startups have the chance to scale and engage with major corporations. This groundbreaking program offers incredible opportunities for both adopters and startups to drive sustainability and innovation—and we're kicking it off this month! 🌍 With our team at Overlay Build, we will design the curriculum in partnership with IN² for corporate adopters through their Adoption Playbook. The playbook will prioritize pain points, identify innovation areas, and form peer groups for implementation strategies. Overlay will also develop due diligence criteria, help to determine the top startups for potential pilots, and form internal innovation working committees that will drive change. Additionally, Overlay will build a change management strategy to ensure practical evaluation and implementation of pilot projects, helping companies with significant real estate ownership reduce construction inefficiencies, costs, and carbon footprints. 🔍This initiative addresses the "missing middle" in technology adoption of built environment solutions—let's bridge that gap together. For more information or to discuss how you can get involved, feel free to reach out to me directly. 👉 Join us in shaping the future of the built environment! Adopters, apply here today: https://lnkd.in/eCRHCXfm #Sustainability #Cleantech #Innovation #BuiltEnvironment #IN2 #OverlayCapital #DigitalTransformation #Decarbonization #ESG #NetZero

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Proud Investor Alert! Congratulations to itselectric Tiya Gordon Nathan L. King on raising $6.5M to expand operations and accelerate curbside EV charging across seven US cities in 2024. This fresh funding will bring itselectric’s affordable and accessible EV infrastructure to some of the densest urban areas in the country with key deployments directly supporting Uber’s goal of helping rideshare drivers go electric. itselectric’s chargers are installed and maintained at no cost to cities, utilities, or property owners and help build the infrastructure that will allow gas cars to be replaced with EVs. Halogen Ventures Jesse Draper Ashley Balla Adriana Gadala-Maria Ochi Jessica Robertson The bonus: property owners earn passive income – aligning climate action with urban living, making cleaner, greener cities a reality 🌿🔌 Read more by Irina Ivanova at Fortune Magazine on post attached. #EVCharging #ClimateAction #goelectric #driveelectric

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For now, making money in utility scale energy storage is about speed to market, service, and taking advantage of demand irregularities and the inefficiencies inherent in renewable power generation. Smart investors are purchasing and deploying established battery technology rather than chasing novel materials or chemistries that have lengthy roads to commercial acceptance. Hopefully, everyone ultimately wins, but the best investments today involve derisked technology #practicalenergyinvesting #bridgeenergytechnology #energyefficiency

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I find it hard to believe that with millions of EVs entering the market and the proliferation of AI compute that PGE is actually going to have excess capacity in 2040 without any additional generation from 3rd parties. I am also curious if there are enough transmission lines and if PGE views that as someone else’s problem. Maybe they are planning on AI and ACTUAL figuring it all out! https://lnkd.in/gybsMmaw

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Key Investment Highlights from The Seraphim Space Index Q2 2024 🌌 Let's take a closer look at the key highlights from the latest quarter: 💰 $8.5bn invested in TTM to Q2 2024 👩‍💻 174 deals in Q2 2024 🛰 $2.4bn invested in Q2 2024 🤝 385 deals in Q2 2024 compared to 320 in Q1 2024 🚀 Space Pioneer closed the biggest deal of $208m in Q2 2024 💲 Average deal size is $18m ◾ Median deal size is $5m in Q2 2024 Check out the full Index here - https://lnkd.in/d-vf-mVN

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Data from the International Energy Agency (IEA) illustrates the current "readiness" of #ClimateTechs + their potential impact on carbon reduction. As shown, many techs are at an early stage of being able to have a material impact. Concerningly, some tech funds recently returned capital back to investors recently + closed their funds - citing inability to fund capital intensive techs, found in areas like ClimateTech. This in part may be contributing to the $2 trillion shortfall in ClimateTech, that Deloitte estimates. What this may mean for the future? - The migration of LPs to global, super VC funds within ClimateTech, given the large capital pools needed to fund tech development - Greater specialization from smaller funds, energizing more niche elements of the ClimateTech market - but also altering their / LP's risk profile - A greater role to be played by debt financing in funding growth entities at an earlier stage - impacting cashflow dynamics Will be an interesting space to watch moving forward. We at The Proptech Connection are constantly working with all parts of the Proptech ecosystem. From the leading LPs, funds, techs and adopters in market, providing an independent view. Reach out to us today to find out how we can help. #InvestorTrends #Strategy #Global Ivo van Breukelen Stuart Daun Kiki C. Ethan Ward

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In early June 2024, I had the pleasure of participating in a fireside chat with Amy Rotman during the 121 Mining and Investor Summit. We talked about Nucleation Capital and our thesis revolving around the importance of nuclear energy as a tool in the energy transition. I described some of the new technologies being developed or refined to make nuclear systems that are able to serve the needs of a much larger customer base than the one served by monopoly electric utility companies that wanted huge central station power plants. Industrial heat and electricity production on a smaller scale are driving forces leading developers to configurations that allow higher operating temperatures at lower pressures. We also talked about the business model innovations being pursued, including the idea of companies that build, own and operate fleets of nuclear reactors while selling heat and power under long term power purchase agreements. https://lnkd.in/ecg-grGx

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📢 Some big news this week that marks another pivotal step in the evolution of carbon markets… The Biden administration, led by Treasury Secretary Janet Yellen, will be unveiling the first broad US government guidelines on the use of carbon credits as part of decarbonization strategies. It’s a much needed step that will promote high-integrity carbon markets, and boost corporate confidence in using carbon credits. The Bloomberg article's sources suggest the upcoming framework will align with the government’s stance that: “voluntary carbon markets have a role in reaching net zero, as long as they promote high-integrity emissions reductions and channel meaningful amounts of capital into nature-based projects today as well as carbon-removal technologies in the future.” And that is the key. There is no silver bullet for the climate crisis. Whatever the critics may say about carbon credits, more transparency, clarity and official endorsement on their use will serve to unlock billions of much needed corporate dollars for carbon projects. Couple this news with recent initiatives by major tech companies like the Symbiosis Coalition of Google, Meta, Microsoft and Salesforce and we’re starting to stride in the right direction. Read more and sign up for the live stream: https://lnkd.in/ddDRA8yd #carbonmarkets #carboncredits #naturalcapital #climateaction #breakingnews

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It was a pleasure to join Bloomberg Surveillance and discuss the current state of the energy market and Quantum Capital Group’s role as one of the largest private capital providers to the global energy industry.   Thank you Lisa Abramowicz, Jonathan Ferro, Annmarie Hordern, Yahaira Jacquez and the entire Bloomberg Television team for having me on the show. Looking forward to being back in the studio soon!   Watch our discussion below:   #EnergyInvesting #Bloomberg #EnergyTransition

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Tail End Capital Partners has invested in a GP-led continuation vehicle, managed by Kian Capital Partners, providing liquidity and additional growth capital to Kian's investors in SPATCO Energy Solutions. SPATCO is one of the nation's leading fueling infrastructure solution providers quadrupling EBITDA under Kian's ownership since 2020. Tail End's Mike Blume said that SPATCO is a strong investment because SPATCO's solid management team along with Kian have spent the last few years putting the team, systems, and growth plan in place. SPATCO is a market leader in a highly fragmented and resilient industry, giving us confidence that the company can continue to execute on the playbook already in place. Full press release: https://lnkd.in/eYz2qvng #sponsorledsecondary #gpledscondary #continuationvehicle #lmm #lowermiddlemarket #pe #privateequity #indpendentsponsor #secondary #secondaries #liquidity #secondarymarket #buyout #controlbuyout

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🚀 While the world grapples with access to baseload energy for compute, we've been proud to watch 8090 Industries portfolio founders Hannan P. and Jack Abraham of Exowatt quietly build. 🤯 Today, Exowatt unleashes a new dawn for the energy industry with unveiling P3s - with the ability to generate electricity at scale at just a $0.04 LCOE and with entirely baseload renewable tech. That’s lower than the cost of most fossil fuels and doesn’t account for subsidies. The company has already amassed a 1.2 GW backlog, worth $Billions from mega tech hyperscalers, energy giants and data center companies. Renewable energy can power the data centers of the AI era, and Exowatt founders Jack Abraham and Hannan P. are building that future. We're honored to be backing Exowatt alongside Sam Altman, Andreessen Horowitz, Felicis, Atomic, Overmatch Ventures and Climate Capital. Read more about their launch today here: https://lnkd.in/gZDKZdk8 cc Kerem Ozmen Wes Mendenhall Filip Vurdelja Haluk Sabanci Dincer Grant Brown Ishan Meswani Garuth A. Andrew Irwin Shilpa Patel

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Mining accounts for 4-7% of global GHG emissions, and we're going to need a lot more metals on the path to deep decarbonization. The upshot? The future low-carbon economy will be much less extractive than today's fossil-based regime, but we need novel modes of extracting and refining minerals to unlock new metal supply while reducing the industry's environmental impacts. One avenue? Biological approaches are coming to the fore. Jackie Kossmann and I recently dug into biomining and penned our thoughts on opportunities and challenges in the sector. CC: Congruent Ventures #biomining #mining #copper #climatetech https://lnkd.in/gihzfPHY

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