This Week in MCJ (1/23/21)
This Week in MCJ (1/23/21)
Is the big influx of capital and talent into climate tech helpful or harmful to the cause?
Hey everyone,
Between the Biden White House, the TPG Rise Fund, USV Climate Fund, Breakthrough Energy Ventures’ new fund, the Amazon Climate Pledge Fund, and many more (like MCJ Collective!), it is clear the attention and focus on climate is heating up a ton in 2021 (no pun intended). To that end, we were proud this week to get this great write-up, which was some of the first outside coverage of what we are building here at MCJ.
Given all of the increased attention on climate action & climate tech, I asked this question on twitter this week, and it sparked what I believe is a really important discussion.
Some insiders in the twitter thread that followed see all of the increased attention and capital as an indisputably good thing. Others are more wary, due to some of the lessons learned (and PTSD) from the first cleantech wave, and some of the ripple effects that made things much harder in the last decade for the people that stuck around to do this important work.
From my seat (which is of course biased, as a newcomer), I think the more energy and attention the better. But I am eager to continue to unpack some of the important lessons learned and advice from insiders on how to get this right, and it is an area we plan to dig deeper into on the pod. We also welcome any thoughts on how people in the MCJ community are thinking about it, newcomers and veterans alike.
And finally, I’m working on trying to bring some perspectives to the pod (see below) that may be relevant to spur this important discourse 😁
Regardless, 2021 is shaping up to be a huge year for climate action, and I am here for it! Have a good week, everyone.
Jason
🎧 Episodes
Here’s this week’s episode, in case you missed it.
Episode 140: Mark Frayman, Head of BHP Ventures at BHP
BHP is an Anglo-Australian mining company that is based in Melbourne. One of the biggest mining companies in the world, they extract oil & gas and process minerals, such as coal, copper, and iron. Mark is part of the new Venture Investments group, which is the trading arm of BHP.
As the world hurtles towards the Paris Accord goals, mining companies are facing massive challenges, yet at the same time, are an essential part of the clean energy transition. It is fascinating to hear from Mark about how BHP is thinking about the next era of mining, what changes they believe need to be made in the industry as a whole, what steps they are taking as a company and their progress to date. And, of course, where the new Venture Investments group fits in, and how they are thinking about external innovation!
🗃Startup Series: From the Archives
As the MCJ team works through refreshing our longer-term content strategy, we will be releasing the audio from some of the prior Startup Series episodes on Thursdays, which have previously only been available via video to paying MCJ members.
Camus Energy, with Co-Founder and CEO Astrid Atkinson, was added in error last week before the audio was live. If you missed this episode, check it out here!
Startup Series Episode 19: Patch, with Co-Founder and CEO, Brennan Spellacy
Patch is a platform for negative emissions. Co-Founder & CEO, Brennan Spellacy, walks me through the gap he saw in the carbon market and why he started Patch. We talk about how Patch works, where he sees the future of the company, of carbon markets, and the best ways to address climate change.
I enjoyed our conversation, and it is a great one for anyone who is hoping to follow down a similar path!
💸Climate Tech Funding
Volta, the industry leader in commerce-centric electric vehicle (EV) charging networks, announced an oversubscribed Series D financing of $125 million. One of their major and existing investors is Energize Ventures. Check out why Energize Ventures is excited about Volta!
Rivian, an automaker developing vehicles, products, and services related to sustainable transportation, has closed an investment round of $2.65 billion. This round also included Fidelity Management and Research Company, Amazon’s Climate Pledge Fund, Coatue and D1 Capital Partners as well as several other existing and new investors.
Breakthrough Energy Ventures, the clean-tech venture capital fund led by Bill Gates, has raised $1 billion for a second round of investments after backing 45 startups with its first billion. The second fund will go to between 40 and 50 startups, and has a special focus on “tougher climate challenges” in greener steel and cement, long-haul transport, direct air capture, and hydrogen.
📚Startup Resources
Nneka Uzoh has launched GreenTech Noir - a community for Blacks in Diaspora working in the business of sustainability and climate tech. This platform was designed to support everyone from founders, to corporate leaders, to investors, and beyond.
👋 Welcome New MCJers!
Below are new members who joined the community and introduced themselves in the past week. You can learn more about them on #introductions, where you can welcome them to the community.
Paul Menti: Paul is excited to be part of the community and he works to build platforms to engage people to work towards a common goal. He is looking for high impact opportunities.
Simran Suri: An analyst at Equal Ventures, Simran is interested to learn about new areas of climate and sustainability to dive into specifically focused on clean energy, water, and ethically-made goods.
Kash Nouroozi: A student and product-minded software developer, Kash is looking to make an impact on climate and is excited to join the community to meet like-minded folks.
Zed Debbaut: Zed is an MD working in the digital health strategy space. He is interested in the intersection of healthcare and climate mitigation. He is looking for entrepreneurial opportunities to drive culture shift.
Sam Buhlmann: Sam supports fellow founders with business development. He looking forward to connecting with the MCJ community.
Brett Jurgens: Brett is a serial founder and runs a CEO-led angel investment fund. He is looking for opportunities to make a bigger impact in climate tech through investing. Brett is excited to join the community!
Tom Shields: A partner at AgFunder and former software engineer, Tom is excited to be part of MCJ and interested in connecting with food and ag-related companies.
Peter Wortsman: Co-founder of Greener Beans, Peter is based in the UK and would love to connect with investors, tech development, data analysts, and sustainable food brands. He is also excited to meet more of the MCJ community.
Emily Steinberg: Emily is leading the Sales Performance team for Sunlight Finacial. She is also the co-chair on the advisory council for the Nature Conservancy of New York. She is looking forward to being part of MCJ.
Bland Painter: Bland is a commercial real estate developer. He joined MCJ to learn, meet new folks, and explore opportunities to invest and work in renewable energy.
Michael Luo: Michael is currently a PM looking to start something in the clean energy space. he is passionate about business, ROI, and the environment. He is excited to be part of MCJ.
Marcus Lehmann: Marcus is the co-founder and CEO of CalWave Power Technologies. He is looking forward to meeting more MCJers and being part of the community.
Charles Du: A former Product Manager, Charles is looking to transition into the climate tech space. He is thrilled to be part of MCJ and learn more from the community.
Patrick FitzGerald: Patrick is an energy lawyer who is looking to refocus on sustainability. He was told about MCJ through many leaders of climate and is exicted to be a part of it.
Joel Wishkovsky: A serial entrepreneur and angel investor, Joel focuses on healthcare, cryptocurrency, and deep tech. He is interested in exploring what opportunities exist in the climate space. He is excited to learn more from the community.
Ivo Stranic: Ivo is a Stanford Mechanical Engineering PhD with energy storage experience at Tesla. He is eager to work in renewables and meet others with similar interests.
Matt Ewing: Matt has spent the last 20 years working in climate and policy, with non-profits, and electing climate forward candidates. He is looking to get inspired and find people who share his passions.
Scott McCue: Scott has worked in education form for the last two decades. He is on a professional sabbatical and interested in working in non-profit management and education within sustainability. He is excited to be part of MCJ.
💼Climate Jobs
Here are some jobs shared by members of the MCJ community that we think might be of interest to you. Many of these opportunities and the MCJers who shared them can be found in #climatejobs in the MCJ Slack. Check out this google doc for the jobs from this week!
📰🎧Recommended Reading/Listening
Below are recently published articles and content that we find interesting and/or that were shared by fellow MCJers.
Washington Post is tracking President Biden’s environmental actions. Keep up to date as our new President forges his own legacy!
Grist details how the climate movement blossomed during the Trump era. Check out what the last four years have done to kick start the movement into overdrive in this article: Backlash to the Future.
The New York Times dives into the effectiveness of Direct Air Capture. Businesses Aim to Pull Greenhouse Gases From the Air. It’s a Gamble. tries to determine if the solution could help us get to our climate goals or hurt us in the long run.
Is there anything Moms can’t do? The Washington Post highlights Science Moms, a $10 million educational campaign to engage mothers, created by a new group of parent scientists. Check out the article: Female Scientists focus on a secret weapon to fight climate change.
The Financial Times unpacks the environmental damage of the meat industry as the world calls for change and transparency. Read Emiko Teranzono’s article Big Meat.
📌Community Board
News from members of the MCJ Community. MCJers mentioned can be DMed in the MCJ Slack.
💼 Amy Duffour, Principal at Prime Impact Fund, is seeking referrals for a summer investment operations internship.
🏦 Ravi Mikkelsen, co-founder & CEO of Atmos Financial, recently announced the launch of his company’s consumer savings account. 100% of deposits go towards financing clean energy and regenerative agriculture businesses. Ravi welcomes all to sign up and share feedback.
🙋♀️ Lyndall Schreiner is building out a coaching program to support leaders in the climate space. She would like to interview folks that may be experiencing a range of challenges and asks those that fit this profile to schedule time with her.
🎟 Climate Events
Indigo Ag presents the #IndigoCarbon Challenge Awards with Jason Jacobs (Thursday, January 28th at 5 pm ET)
Don't miss the virtual #IndigoCarbon Challenge Awards! Registration here → http://indigo.bz/ccawardstw. Find out the winners of the challenge that called for innovators to develop ag solutions to address #climatechange + see an interview with Geoffrey von Maltzahn and, our own Jason Jacobs.
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