DOE Office of Technology Transitions reposted this
Chief Commercialization Officer, Director of the Office of Technology Transitions at the U.S. Department of Energy (DOE) and Working Parent @poweredbyDOE
NYC Climate Week was pretty awesome. 100k climate warriors at 900 events to figure out how to tackle climate change. A few key themes: 1. We need to work together to collectively invest in the first *ten of a kind*. We are hoping someone else acts but as we wait for each other, the clock ticks. We ALL need to collectively take the risk for the first ten of a kind if we want to start moving down the cost curve. Everyone - from EPCs, government, philanthropy, publicly traded companies (the offtakers), VCs, traditional banks, insurance companies and you! 2. So why can’t we act faster? We all are following the traditional way of doing things, dictated by IRRs, ROIs, NPVs, WACCs…. hurdles made up by an investment committee… but new technologies can’t meet these numbers because they are not yet at scale. Just like GPAs are an artificial construct made up by professors on what deserves an “A”, what is defined as investible is also made up by humans. We have to lower these hurdles for technologies still in the demonstration and early deployment phases or we will fail the biggest exams in our lives. And if we fail, we will need to tell our kids that we could have made a difference but we didn’t act. 3. We are running out of time…. Just like our senior theses, we had a lot of time when we were first given the assignment, but as we wait, the work doesn’t decrease, we just have the same amount of work to do in a much smaller amount of time. Sooooo - all of you climate warriors out there (and yes that is you!) it is time for you to act and to disrupt how you do things so you aren’t paralyzed by inaction. We have disrupted ourselves at the U.S. Department of Energy (DOE) - bringing private sector thinking into our house to put public-private partnerships on steroids. This is a new DOE who has used the $500B from BIL/IRA to catalyze the $23T in the private sector in a way that’s never been seen. Every $1 from DOE has led to $6 from the private sector. So…. if we can innovate in a government agency, you can too! We believe in you.. So tomorrow think about what you can disrupt within your organization to move faster and bolder 🥰 If you’re not sure where to start, the DOE Office of Technology Transitions (also affectionally known as the OTTers) has disruptive tools to help. The Pathways to Commercial Liftoff www.liftoff.energy.gov and Adoption Readiness Levels https://lnkd.in/e5b86sRM Thanks to those who hosted our dialogues and we look forward to your actions! Nasdaq, Google, Microsoft, Howden, Open Society Foundations, Builders Vision, Goldman Sachs, Deloitte, Sightline Climate (CTVC), Women and Climate, Newlab, OPPENHEIMER FOUNDATION, CarbonSmart,Terra Talent VC, Elemental Impact, Nest Campus, Salesforce, Flowcarbon, Goals House, Soros Economic Development Fund, CREO, The Geneva Association, Hewlett Packard Enterprise, LabStart. #energy #technology #invest