Eric Meyer

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

9

2 Comments

Should we abandon carbon markets? In my latest op-ed for ImpactAlpha, Carbon Solutions Group SVP Daniel Sadik and I argue for reform, not retreat. While concerns about transparency are valid, walking away from these markets would stall progress on decarbonization and cut off essential funding for social enterprises like BURN and BioLite—companies whose products improve lives and build climate resilience. The path forward is to ensure these markets deliver both measurable emissions reductions and meaningful benefits for the communities they aim to support. Read the full article to learn how we can get this right. https://lnkd.in/eZvt-rvb 

37

1 Comment

⛳ Emerging fund managers pulse check. PitchBook tracks over 10,000 funds that are raising money, with 45% being emerging fund managers (defined as firms with less than 3 funds). Despite a dip in available capital—down to 16% from the pre-pandemic 23%—these managers are finding creative ways to stay competitive, like partnering with larger firms. 💼 Joanna Drake (founder turned investor) shared how "wildly different" it is raising a fund versus for a startup. One key datapoint she shared on the fund side was how little feedback you get along the way (and the years you can wait for it). The “long-winded and challenging process to raise capital” inspired Drake and Ben Black to create RAISE Global, a community for emerging fund managers and the “forward-thinking LPs” who back them. (A decade later, several hundred emerging managers with AUM under $200m are on the platform) They've found the newest emerging managers are more diverse and geographically dispersed than Silicon valley, and more were able to crack the ceiling and raise larger $100m funds (although this is still a small % of the market, requiring partnership with larger funds at the late stage). ▶ And not a hugely surprising datapoint: A lot of action is in the sub $49 million range, where roughly 50% of emerging managers are raising. Theresa Sorrentino Hajer, Head of U.S. venture capital research at Cambridge Associates warns that past success isn't actually a strong indicator on it's own to assess emerging managers. We've had a valuation reset. And newer managers with investments during the 2019-2021 "party days", need to build relevant track record and play to their strengths. A lot of emerging managers are specializing (70% who applied for Raise had a thematic focus), and betting on getting in as early as possible in the startup's lifecycle (Raise: 31% at accelerator/ pre-seed stages, and 47% at seed stage). “Emerging managers have to compete on a different dimension,” Nick Moran from New Stack Ventures. You're no longer just dealing with capital. Emerging VC's need to be as innovative and nimble as the startups they invest in, having a unique thesis and insights. They also play a role at the top of the deal-flow funnel: helping larger firms find promising companies, so finding a thesis, sector or philosophy aligned partner at a larger firm is helpful. Onwards! #EmergingManager #Startups #VC

24

1 Comment

With daily headlines highlighting the accelerated pace of the energy transition, it is clear that we are in a new moment with shifting competitive dynamics and market realities. Here, Lisa Hansmann and I take stock of where we are in the transition, what has changed, and where we are going. And, we assess the implications of these changes on innovation and entrepreneurial communities, with a focus on the key challenges and their solutions that lie ahead in our path to energy abundance with the potential to decarbonize our economy, ensure energy and economic security and build prosperity. https://lnkd.in/e_Pp-7Ty  

62

1 Comment

"…if you look over a 10-year horizon, there's no question a shift toward renewables is happening; largely because it makes economic sense, not purely policy reasons." - Matthew Idema, Aurora Solar Despite market and political uncertainty, the Energize Capital NEXT #Climate #Software Summit made one thing clear: the #energytransition is not slowing down, and we have better tools than ever to make it happen. ✍️ Read our latest blog, Today in Climate: Insights from the Energize NEXT Climate Software Summit, here: https://lnkd.in/d_wMwsxw

18

Who doesn't love a good top 50 list?! Very excited to launch Congruent Ventures and SVB's inaugural 50 by 2050, focused on identifying the companies with the highest potential to drive carbon reduction over the next 25 years. I'm 100% certain that we've missed some amazing companies. I'm also 100% certain the companies on the list are awesome. Sadly, by our own methodology many or our incredible companies at Congruent didn't make the list (but suppose that is as it should be). Check out the report below. Live / interactive list here: https://lnkd.in/dYgCfEv8 Tim De Chant TechCrunch coverage here: https://lnkd.in/dkUJm_Sn The Congruent/SVB team collaboration was awesome Dan Baldi Eliza Cushman Marianne Wu Joshua Posamentier!

131

10 Comments

Have cost declines for renewable energy sources stopped? Accordingly to Lazard's most recent Levelized Cost of Energy (LCOE) report, costs are leveling out. https://lnkd.in/eJaA7VgG Lazard mentions that their cost range estimates have tightened because the high-end estimates have decline, and more interestingly, the low-end estimates have increased for the FIRST TIME EVER because of cost pressures. Many renewable sources are still less expensive or on cost parity (per MWh) compared to conventional energy. But, the era of consistent cost declines for wind, solar, and geothermal might be over. Despite this, I am optimistic because of new technologies and FOAK projects that are coming online. Continued innovation will solve our climate crisis!

1

Bringing that 8090 edge to NYC Climate Week. In case you missed: ☢️ Microsoft leading the charge to restart Three Mile Island to support growing Datacenter demand ⛽️ Brookfield Asset Management penning a 10-figure deal with Infinium to build next generation refineries ⚡️ Exowatt unveiling their P3 units to supply renewable baseload power to support ongoing AI Datacenter development It is now clear, the ideals of ClimateTech are being called to either a) elevate into industrial hyper-execution or b) die, and 8090 Industries will be there to back the Industrialists who hit their stride in this phase of technology evolution. To the Builders!

103

18 Comments

I congratulate Aepnus Technology, a deep-tech startup, for raising $8M to commercialize its National Science Foundation (NSF)-funded research work to develop an electrochemical platform to improve circularity and reduce emissions in battery supply chain chemicals, enabling GHG emissions reduction by an expected 3 gigatons by 2050. I congratulate Rhonda Shrader, Executive Director of UC Berkeley Haas Entrepreneurship & NSF I-Corps Bay Area. She is an inspiring instructor; I am so fortunate to be in her class during the Summer 24 #Icorps Cohort. I am an Industry Mentor (IM) to Professor Ratnesh Kumar and Professor Shawana Tabassum, PhD who are inventors of plasmonic metamaterial-based gas sensing technology, based on NSF-funded research. It offers an order-of-magnitude lower-cost alternative to techniques like gas chromatography-mass spectrometry (GC-MS) and Fourier Transform Infra-Red (FTIR). The technology helps with environmental compliance for GHG emissions in agriculture and manufacturing, Condition Monitoring of gases produced during process control in manufacturing plants, and monitoring of gases in Transformers (HW used in utilities - not the ones for implementing attention 😀). If you're interested in turning your NSF-funded research into a real-world product or service, consider the #Icorps program. It provides intense customer discovery training, where you'll interview 100+ potential customers in just seven weeks. This might sound grueling, but it's an invaluable experience. Remember, in startups, the founder is often the first salesperson. Understanding your customers' needs early on is crucial for success.

17

3 Comments

WE DID IT! After 2 years of pushing through the biggest downturn in VC in decades, Matthew Stotts 🌐 and I made it to the finish line with Fund I! We couldn't have done this without One Small Planet (Will Peterffy and Jack Wielebinski 🙏), Regen Network and Regen Foundation (Austin Wade Smith Gregory Landua and Will Szal), and a dozen other family offices and angels who believed that we can build a nature-positive economy utilizing our eye for software and our history as founders from day 1 A shout out goes to all of our founders (only four announced today, but watch this space - there are multitudes!) who trusted us enough to give us a spot on their cap table for this 10-15 year journey. This is the best job in the world, and it's because we get to work with people like you who have weird ideas in the best possible way. Using Bitcoin as anchor base load to decarbonize residential housing in America's most expensive energy market? Make every complex supply chain legible to machines so we can find and eliminate deforestation in commodity supply chains? Build deeply liquid environmental asset markets to price ecosystem services, on a blockchain, that no one needs to know is a blockchain? I'm so excited to get to work on this stuff for the next 10-15 years minimum, and to see what we can accelerate with our tiny fund in the next 5-6 years as we approach 2030 Onward! https://lnkd.in/gy3B-DFe

569

118 Comments

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

18

1 Comment

This is a crucial discussion on navigating BERDO. Building owners are required to report their energy and water data for the calendar year in ENERGY STAR Portfolio Manager and they must fulfill the 2024 BERDO Reporting. We look forward to learning from Tim Ashmore Adam Wellen and Hannah Payne at Decarb Boston on June 18th. See comments to join us! #BERDO #EnergyEfficiency #Sustainability

4

1 Comment

AI usage is leading to a surge in energy demand, becoming a major constraint (and catalyst) for the grid Todays grid doesn’t have the transmission infrastructure to meet these needs and solutions like nuclear could take decades This creates the opportunity for digital solutions to manage the needs of today Equal Ventures

19

2 Comments

In the work I do at Earth Finance, I see everyday that the large companies, with complex value chains and net zero strategies, require and rely on innovative technologies to achieve their goals. Being able to meet their need is vital not only to their success, but also for an emerging technology startup’s success. In this episode (our third which I think officially makes this a series 🤠), we talk basics of securing the business and trust of a large customer when they take a chance on your new tech and aim to scale it across their business.

36

3 Comments

Thanks so much, Ty Findley, for having me as a guest on Heavy Hitters: The Digital Industrial Podcast! It was great to chat about: 🏭 Our launch of the Industrial Renaissance practice at Bain Capital Ventures that builds upon our investments in scaled companies like Kiva, ShipBob, FourKites, Inc., Vention and MaintainX and many emerging seed and Series A companies. ✨ The tailwinds that are converging and creating a perfect ecosystem for innovation including unprecedented technological advancements, compounding geopolitical and environmental pressures, public and private alignment, and the new wave of talent entering the space. 🤠 Core insights from 20 years of investing in founders transforming the physical world - namely that the key is still software! https://lnkd.in/eJGR9TkB

114

1 Comment

It is an exciting day for climate action. Sustainability Roundtable, Inc.’s Net Zero Consortium for Buyers (NZCB) just announced today that seven world-leading companies have signed an aggregated virtual power purchase agreement (VPPA) with Southern Company for renewable energy credits produced by the 180 MW Phase II portion of the Millers Branch Solar Facility in Haskell County, Texas. This long-term aggregated procurement enables the financing and development of the new 180 MW project owned by SPC. The project is expected to achieve commercial operation in Q2 of 2026 Cisco, Juniper Networks, Bio-Rad Laboratories, Cadence Design Systems, IDEXX, PTC, and a Fortune 100 healthcare company joined this agreement, which democratizes access to the commercial and environmental benefits of utility-scale renewable energy by making procurement accessible to a broader range of enterprises. This aggregation is one of the largest peer-buyer organized aggregations to date globally. Today's announcement reflects the fact that the NZCB has achieved 86% of its goal of causing a gigawatt of new renewable energy capacity before 2025. Reaching NZCB’s gigawatt goal would generate enough energy to meet the annual average electricity needs of more than 200,000 U.S. homes while helping mitigate commercial Scope 2 emissions across the business operations of corporate buyers. This transaction demonstrates how the NZCB offers a breakthrough model for commercial collaboration in causing utility-scale renewables, beginning in North America and Europe. 

53

10 Comments

Series A or B wondering when to bring in a VP of Finance or CFO? It’s a crucial decision that can shape the future of your company. At this stage, financial leadership is not just about managing numbers but also scaling processes, securing funding, and driving strategic growth. My colleague Paul breaks down key signs that it’s time to hire and indicators for choosing between VP of Finance and a CFO #FinanceLeadership #CFO #StartupGrowth #SeriesA #SeriesB #NextGenLeadership

6

A SAFE and convertible note had a baby and Wilson Sonsini Goodrich & Rosati was the midwife- out popped the D-SAFE! 👶🏽🎉 A new #climatetech funding instrument was announced by Elemental Excelerator last week. One of the company’s main goals is to support smaller, up and coming companies during the awkward “Scale Gap” phase between #VC funding and natural growth. It’s called the #DSAFE (Development Simple Agreement for Future Equity) and it aims to aid the process by giving companies a small amount of cash to overcome initial risks and expenses during the developmental stages of a product launch or company. How does it work? D-SAFE has a redemption clause meaning companies can choose to have their payments offered as a loan or convert to equity at the investor’s discretion. Funders and companies will have clear communication and expectations about where the money is going and how it will be applied to either the company or the projects at hand. Financiers and companies will work together with more #transparency, and that’s a great boon for #startups and VC alike. As of this month, Elemental has already invested using D-SAFE in eight different companies, including Dimensional Energy and Origen — both companies investing in innovative and out-of-the-box solutions to environmental issues! Seems like a win-win on the surface. What do you all think about the D-SAFE? Alfredo Coppola Momoka Ueda Tim Wagner Stephen D. Torres Olya Irzak Natsuho Toyama Noriya Tarutani Shin Ogawa

15

6 Comments