Catch Neal Dikeman on The Power Connect Podcast talking about how we think about startup investing and how he got into this business. Part 1 of a 2-Part Series with the former wildly popular Texas sports radio talk show host Fred Davis, now turned energy podcaster. This may be the first talk I’ve ever done that I was a little afraid to listen to. Comment and share Fred Davis’ original LinkedIn post about the 50th episode of the Poser Connect Podcast.
Our Latest Investment in CCU Technology
Energy Transition Ventures continues its latest run of wins with the announcement of a seed investment in CCU technology, RenewCo2, a startup with novel low cost advantaged catalyst for Co2 electrolysis to chemicals. Check out the Rutgers University announcement of our RenewCo2 spinout. The company has since won $8 mm in grants and contracts from Breakthrough Energy Fellows, DOE, and commercial customers. Rutgers, ETV, and the founders are the only shareholders of a company with a technology we think can deliver zero carbon monoethylene glycol for plastics from Co2 as a feedstock at lower cost than the leading conventional process from fossil feedstock – a process owned by Royal Dutch Shell.
Portfolio Highlights: Ohmium and Dronebase
Our last investment green hydrogen electrolyzer startup, Ohmium, has announced over a GW of electrolyzer projects with customers on 3 continents since we invested earlier this year, on the back of the lowest cost PEM electrolyzer in the market
Check out our 1st portfolio company Dronebase’s new aerial scan and performance rating of every North American solar farm announced at RE+.
Macro Insights from Our 3Q Investment Memo
These numbers are insanely huge and rich. We’ve been investing assuming no government support was coming or needed, and then the IRA drops such a massive amount of capital into the cleantech sector that every investor and company in the world is scrambling to figure out how to access it. As an example, the new green hydrogen tax credit is uncapped, and we think it is higher than the cost structure/kg of Texas green hydrogen at scale. Let that sink in. To paraphrase one Asian ammonia customer – we’re interested in learning about Texas green hydrogen projects now that the IRA has hit, and discuss whether we should be exploring shipping from Texas and not Australia or the Middle East.
Further Reading and Insights
You might check out Jigar Shah at DOE (who used to blog for us at Cleantech.org way back in the day), talking about some of the IRA programs.
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