New Sun Road, P.B.C.’s Post

WEEKLY NEWS ROUNDUP 🗞 Welcome back to your weekly news in the industry from #PiperComm! ⚡ Executive Director Cortney Piper wrote a blog celebrating the Tennessee Advanced Energy Business Council's 2024 accomplishments and Tennessee’s leadership in the energy sector. She highlights how the state is seizing opportunities through federal investments, industry growth, and a thriving cleantech ecosystem - while showcasing TAEBC’s role in empowering businesses, entrepreneurs, and communities to drive innovation. Read the blog: https://lnkd.in/g-4R3u9m 🌟 In a recent update, Chroma Energy Group reflected on an exciting and transformative 2024. From defining their core values and building a strong team culture to completing impactful projects like the McGhee Tyson Solar Installation and Poplar Bend Flats, Chroma has laid the foundation for even more significant achievements ahead. With a 45% growth in their team, Chroma continues to innovate and enhance its capabilities. It’s been a year of growth, success, and commitment to sustainability. Read more about Chroma’s 2024 year in review: https://lnkd.in/eRW6qhvn 💡 Every year, LaunchTN hosts Innovation Week, which gathers trailblazers, entrepreneurs, founders, researchers, and more in Nashville for a series of programs highlighting the state’s entrepreneurial successes. The event grew out of LaunchTN’s continued efforts to increase the visibility of startups and innovation across the Volunteer State. Stay tuned for more details and registration information: https://lnkd.in/gWCY8P3Y That’s all for this week! Follow Piper Communications for weekly news in the industry updates.

🌍 Incredible news for the Yale innovation ecosystem, New Haven, and the state of Connecticut! Yesterday at ClimateHaven, U.S. Representative Rosa DeLauro and U.S. Senator Richard Blumenthal joined ClimateHaven CEO Justine Lee to announce $1.5M in federal funding to expand clean energy entrepreneurship in Connecticut. Startup founders Nadia B. Ahmad (Yale PhD student) of Mudder AI and Conor Rooney PhD ’24 of Oxylus Energy showcased the groundbreaking technologies they’re advancing with ClimateHaven’s support.

📢 Exciting News from ClimateHaven! 🌱✨ Mudder AI’s founder, Nadia B. Ahmad, had the honor of joining U.S. Representative Rosa DeLauro, U.S. Senator Richard Blumenthal, and New Haven Mayor Justin Elicker to celebrate ClimateHaven’s receipt of $1.5M in federal funding to expand clean energy entrepreneurship in Connecticut. This transformative funding, secured through the U.S. Department of Energy’s EPIC Program and Congressionally Directed Spending, will empower startups to accelerate impactful climate technologies. 🌍⚡ A big thank you to ClimateHaven CEO Justine Lee, our fellow founders, and the incredible leaders and partners who are driving innovation in climate tech. Together, we are paving the way for a resilient, low-carbon future! 💚

Join our discussion tomorrow

Last week, Zachary Lee (李惠翔) joined an esteemed panel for INSEAD Private Equity Club (IPEC) alongside Christopher Quek, CAIA, CFA (Managing Partner, TRIVE), Akhil Jain (Director of Private Equity, Fullerton Fund Management), and Hiu Tung S. (Associate VP, Mandala Capital) as our moderator, to discuss "Accelerating Impact: Investment Pathways for a Net-zero Future." Here are a few key takeaways 👇🏼 The most exciting climate tech startups combine innovation with solid business models to drive real-world impact. Some examples include: 🌱 #Nature-Based Solutions – Utilizing LiDAR and satellite technology to transform the 120 million hectares of rainforest in Southeast Asia into a monetizable asset class. 🔋 #Energy Storage – Exploring alternative, cost-effective energy storage mediums to decarbonize challenging sectors, like agriculture. 🚢 #Mobility – Beyond EVs and EV enablers: we’ve backed a robotics company that reduces emissions by cleaning ship hulls of algae, seagrass, and slime. While different lenses are needed to look at different types of climate tech startups, generally we may apply two distinct lenses: 1️⃣ #BusinessModelInnovation: The tech should work from day one. The test is on whether the business model can be more efficient to disrupt the incumbents – higher growth, greater efficiency and stronger cash flow in the long term. In the near term, we look at traction to find product-market fit. 2️⃣ #DeepTech: Generally will expect to be looking at scientific papers when at TRL 2-4. Only when they are being tested in the real-world environment, then we can safely say that they have reached TRL 5. 💼 #Impact vs. #Returns – How do we prioritize both? There was once a trade-off between impact and returns, but no longer. Today, wind and solar are cheaper than fossil fuels, and EVs are reaching cost parity with traditional ICE vehicles, and energy storage density and battery cost will continue to decrease. When pitching, #narrative matters. For example, pitch impact differentiation to DFIs, and the climate sector’s growth potential differentiation to family offices. 💡Why Has Climate #Adaptation Lagged? Historically, adaptation investments like sea walls, drainage, and public health have been seen as public goods, primarily funded by governments. Unlike booming areas like EVs and agrifood, adaptation ventures are fewer and harder to measure in terms of impact, but where there is a large opportunity for impact in Southeast Asia. Thank you to INSEAD for having us as a part of the Annual INSEAD Asian PE & VC Conference! ➡️ If you are working on a tech-enabled solution across climate sectors in Southeast Asia, get in touch with us: https://lnkd.in/gS4ChSst

Climate startups should definitely apply for this! The southeast has massive potential customers across #ag, #manufacturing, #mobility, #logistics, and #energy. Its grid is as dirrrty dirrrty as they come but utilities like Southern Company and others are experimenting with how to clean it (for the love of god get us off gas). And climate/energy/tech investors are growing in Atlanta. Shorewind Capital, Playground Global, Overline, Energy Impact Partners, Anzu Partners, and more all have a presence in town. Georgia Power Company is #doingthings and the folks Tennessee Valley Authority just up the road are turning the volunteer state into a hotbed of SMR and fusion test development. Beyond all of that, Miguel Granier is an absolute GOAT for early stage investing while Cox Enterprises has invested a heap ton of money into climate solutions (very quietly). All as Georgia Institute of Technology turns out some of the best talent in the country!!! Y’all check this thing out. You’ll be glad you did. #climatefinance #climatetech #climateaction #venturecapital #decarbonization

NEW: Rice is partnering with key stakeholders to bolster Houston’s role as a leader in innovation and entrepreneurship, with a focus on addressing the dual challenge of an energy-abundant and low-carbon future. The university is joining a new partnership to support climate tech solutions through Greentown Labs, North America’s largest climate tech incubator with locations in the Ion Houston District and Somerville, Massachusetts, near Boston. “The collaboration between industry, investment and academic institutions is central to the solutions we urgently need for innovation in the energy transition,” Rice President Reginald DesRoches said. “It’s part of Rice’s leadership in entrepreneurship and climate tech. We invite our higher education and research peers in Texas and Massachusetts to join us in this mission.” Chris Stipes reports: #energy #cleanenergy #greenenergy #energytransition #climate #climatetech #Houston #Texas #Boston #Massachusetts

Brimstone has been named to the 50 by 2050 list by Congruent Ventures and Silicon Valley Bank 🎉 For this inaugural report, experts from academia, finance, and the private sector selected 50 global companies poised to drive significant carbon reduction over the next 25 years. Chosen from a range of industries, including agriculture, energy, manufacturing, and materials, these companies share one crucial characteristic: a commitment to scaling highly ambitious technologies for meaningful global decarbonization. Brimstone is honored to be recognized alongside leading companies like Antora Energy, Commonwealth Fusion Systems, Form Energy, Redwood Materials, and many more. Learn more from TechCrunch: https://lnkd.in/gQv3Pn79 Check out the entire Congruent x SVB report here: https://lnkd.in/gFH42dNn #ClimateTech #Decarbonization #Innovation

Effective mission advocacy is crucial for organizations seeking to make a meaningful impact. Mission advocacy extends beyond addressing core organizational needs; it involves advocating for a regulatory environment that fosters innovation and deployment of technology. Connecticut has a track record of setting ambitious goals to grow industries like InsurTech, renewable energy, advanced technology, and precision manufacturing. However, challenges arise when stringent regulations impede progress, as seen in the case of solar energy development. Despite ambitious climate change goals, the state has some of the most entrenched and institutionalized NIMBYism in the country and faces significant opposition to clean energy projects. Many clients express frustration with these barriers. The key question is: what steps can be taken to address this issue effectively? Seeking out visionary leaders for investment and R&D organizations who are willing to drive practical change is crucial in overcoming these obstacles.

🌍 Largest Fundraises of American CleanTechs in 2024 Despite a slower year for cleantech funding, several American startups in the CleanTech space have defied the odds, securing record-breaking investments and driving innovation toward a sustainable future. These companies are leading the charge in transforming energy, transportation, and carbon capture solutions, showcasing resilience and commitment to a greener tomorrow. Here are the largest fundraises in 2024: - Intersect Power, led by Sheldon Kimber: $1.827 billion - Sila Nanotechnologies, Inc., led by Gene Berdichevsky, Alex Jacobs, and Gleb Yushin 🇺🇦: $1.255 billion - Form Energy, led by Mateo Jaramillo and Yet-Ming Chiang: $1.220 billion - BETA TECHNOLOGIES, led by Kyle Clark: $1.204 billion - Ascend Elements, led by Mike O'Kronley: $1.126 billion - Pacific Fusion, led by Will Regan: $900 million - Twelve, led by Nicholas Flanders, Etosha (Eee-tah-sha) Cave, and Kendra Kuhl: $798 million - Redaptive, Inc, led by Arvin Vohra and John Rhow: $526 million - Monarch Tractor, led by Praveen Penmetsa: $214 million - Heirloom, led by Shashank Samala: $203 million The American CleanTech sector remains a beacon of innovation, tackling pressing climate challenges head-on with scalable, impactful solutions. 🌱 🔗 For a deeper dive into these transformative ventures, check out our full article (link in comments). #CleanTech #Sustainability