Electricity is the ultimate “flex-fuel”- capable of being generated from a range of sources - including low-cost renewables combined with energy storage - and with a range of uses: stationary power & heat, digital, and mobility. All sharing the same infrastructure.
Very large market trends are driving this move to electrification: cost, resiliency, decarbonization, safety, efficiency.
Combustion processes that have defined our energy use for the last 100 years are in the final stages of their product lifecycle - we aren’t going to be doing things in 100 years the way we did them 100 years ago.
We see a sustained battle between electrical and biological pathways, with electrification winning in many cases by providing superior flexibility. We see biological advantaged in non-combustion, non-fuel source applications.
Electrification technology cost reduction benefits from scale from other industries: e.g. tech, automotive. Don’t bet against silicon and lithium.