Inevitable

Jason Marks is the Co-founder and CEO at TELO. TELO is developing EV pickup trucks in the footprint of a Mini Cooper with a bed the size of a Toyota Tacoma and the power of a mainstream truck. They're focused on urban use cases for pickup trucks, whether that be a weekend adventurer who lives in a city or an organization whose employees need trucks for work in urban environments but are fed up with navigating giant vehicles through traffic, parking, and underground lots.We were eager to hear Jason’s perspective on why now is the right time to build an electric vehicle from the ground up, what makes TELO’s approach uniquely positioned for a significant market opportunity, and why existing truck manufacturers haven’t pursued this segment. Plus, we dive into the fascinating history of why today’s pickup trucks have become so massive in the first place.MCJ is proud to support TELO as an investor through our venture capital fund, backing founders like Jason who are reshaping industries to be cleaner, more profitable, and more resilient.In this episode, we cover: [2:26] Jason's background in automotive[4:37] An overview of TELO and its purpose[6:13] How pickups have grown significantly larger over the past 15-20 years[11:15] The current EV truck market[12:47] Truck density in urban environments and challenges[15:51] TELO's approach to building EV an pickup[17:58] China's EV phenomenon and landscape[23:08] Current US EV market[24:51] TELO's unique approach to EV pickups[28:09] The company's battery chemistry[29:49] TELO's progress to date[32:05] Big milestones Jason and his team are working towards including homologation[35:59] TELO's go to market[38:20] Jason's vision for the future of his business[39:24] TELO's latest Seed Round led by Neo[41:08] Where TELO needs help[41:44] Biggest surprises in building a vehicle companyEpisode recorded on Oct 4, 2024 (Published on Nov 21, 2024) Stay Connected with MCJ:Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@mcj.vc.

Mark Lundstrom is the founder and CEO of Radia.Radia is developing the WindRunner, the world’s largest aircraft, specifically designed to transport massive offshore wind turbine blades—some reaching the length of football fields—to onshore sites. This capability, termed "GigaWind," could redefine the scope and scale of onshore wind projects. Radia isn’t stopping at building these groundbreaking aircraft; they also plan to develop wind energy projects to catalyze the GigaWind transformation. This episode dives into Radia’s verticalized approach to addressing a major challenge in wind energy: the physical limitations of transporting turbine blades via the U.S. interstate highway system. By circumventing these constraints, Radia envisions a future where wind farms can reach unprecedented scales.In this episode, we cover: [2:13] Mark's background in aerospace [6:27] Logistics of wind turbines on land today[9:03] Onshore vs. offshore wind energy in terms of turbine size, logistics, and economics [14:04] China's wind energy generation[15:53] An overview of Radia's WindRunner aircraft [20:57] Radia's plan to become a power provider[24:07] Siting and permitting process for Radia's projects [28:23] Radia's progress to date [30:20] Capital stack needed to fund Radia's WindRunner[35:05] Radia's decision to come out of stealth[38:32] Who Radia wants to hear from and hire [39:43] How Radia's solution can address AI power demandsEpisode recorded on Sept 19, 2024 (Published on Nov 13, 2024) Stay Connected with MCJ:Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@mcj.vc.

Tom Montag, CEO of Rubicon Carbon, joins us to discuss the world of carbon credits. Tom has had an illustrious career, previously serving as Chief Operating Officer at Bank of America, President of Global Banking and Markets, and a member of the executive management team. He joined Merrill Lynch as Executive Vice President and Head of Global Sales and Trading in 2008, just before its merger with Bank of America. Before that, he was with Goldman Sachs, co-heading the Global Securities Business and serving on its management committee. He currently serves on the board of directors of Goldman Sachs Group Inc. and is a board member of Northwestern University, NYU Langone Medical Center, the Hispanic Federation, Deschutes Land Trust, and the Japan Society. He is also a former BlackRock board member.In this episode, we dive into why, after such an accomplished career, Tom chose to dedicate his next chapter to carbon markets. We have a fascinating conversation about the current state of voluntary carbon markets and how Tom views them in relation to the financial services industry when he started his career in the 1980s. We explore why carbon credits matter, the circumstances under which companies should use them, and the origin of Rubicon Carbon, including the role of TPG’s Rise Fund. Tom also discusses Rubicon's approach to bundled credit offerings and addresses some of the trust challenges facing the carbon markets today, as well as where he believes they are headed.In this episode, we cover: [2:19] Tom's financial background and career pathway to Rubicon [5:21] The state of the voluntary carbon market, including its size and growth potential[7:41] Parallels between the early derivatives market and the current carbon markets[11:41] Challenges around additionality, financial hedging, and trust in the carbon markets[13:41] An overview of Rubicon Carbon[20:55] Regulatory and compliance considerations around carbon markets[26:30] The need for more standardization and risk adjustment in the VCM[33:44] Examples of Rubicon Carbon's projects and partnerships[36:08] Role of oil and gas in the future of VCM[40:12] Bull and bear cases for the future of carbon marketsEpisode recorded on Aug 22, 2024 (Published on Nov 11, 2024) Stay Connected with MCJ:Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@mcj.vc.

Hannan Parvizian is Co-founder and CEO of Exowatt. Exowatt turned heads earlier this year when it announced a $20 million Seed round with backers including Andreessen Horowitz, Atomic, and Sam Altman, the CEO of OpenAI. The company has developed a novel combined solution for energy generation and storage that concentrates heat from the sun, stores it as thermal energy, and converts it on demand to electricity.They've primarily focused their go-to-market around the data center boom driven by AI and argue that their solution is purpose-built for the massive energy need of data centers. We were eager to hear from Hannan as the rapid increase in energy demand from hyperscalers and AI remains a huge topic in the energy space, especially as we work to transition away from fossil fuels while also meeting AI-fueled demand.In this episode, we explore Hannan's insights on the limitations of "traditional" solar PV and lithium-ion battery storage in meeting these needs—and how Exowatt aims to bridge this gap.In this episode, we cover: [2:01] An overview of Exowatt[4:56] Exowatt's technology and approach[6:29] Reasons for pursuing a thermal energy storage solution[14:46] Hannan's previous startup experience[16:45] How Exowatt's Seed round came together[20:07] Response to skepticism about Exowatt's technology[24:41] Technical details on the Exowatt P3 system[29:09] Geographical and land use considerations[34:33] Comparison of Exowatt's approach to other thermal energy storage solutions[38:59] Exowatt's manufacturing and deployment strategy[41:48] Pricing and economics of the company's system[43:10] Current deployments and future growth plans[43:44] Hannan's perspectives on Exowatt's competitive advantages and challenges[46:02] Where Exowatt needs helpEpisode recorded on Oct 10, 2024 (Published on Nov 7, 2024) Stay Connected with MCJ:Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@mcj.vc.

By now, you’ve likely noticed our refreshed look. We’re evolving the show to focus on the inevitable impacts of climate change and the groundbreaking solutions shaping our future.To kick off this next chapter our first guest on Inevitable is Tom Steyer, Co-executive Chair at Galvanized Climate Solutions, a multi-strategy investment firm focused exclusively on the climate transition. A little over a year ago, Galvanize announced the final close of its Innovation + Expansion Fund at over $1 billion, one of the largest climate venture funds ever raised. Tom is also the recent author of the New York Times bestselling book, "Cheaper, Faster, Better: How We'll Win the Climate War," and he wrote the Forward to Project Drawdown.In 2020, Tom was a Democratic presidential candidate with a climate-focused policy agenda, and he participated that year on the primary debate stage alongside now President Joe Biden and now VP Kamala Harris, among many other notable Democratic party leaders. He's the founder of NextGen America, the largest youth voter organization in the USA, which he created in 2013. But Tom hasn't always been focused on the energy transition and climate change. In 1986, he founded Farallon Capital Management, a multi-strategy hedge fund that he ran for over 25 years and grew to hundreds of employees and $20 billion in assets under management. His story of having incredible success in one field and then feeling the inevitable pull to work on the biggest problem of our time is exactly the type of pathway that we plan to explore on this show. *We recorded this episode live during Climate Week NYC, in front of a fantastic audience. We'd like to thank them for joining as well as the folks at ethic for lending their beautiful space and JP Morgan for helping to sponsor the event. In this episode, we cover: [4:55] Tom's book theme: "do the obvious thing"[9:58] Tom's book theme: "the status quo will not go on forever"[13:53] Energy is wealth and how we can collectively retire fossil energy with renewables[17:06] Tom's decision to dedicate his career to climate and his early pathway[21:34] NextGen and the org's origins[23:32] Sharpening your bullshit detector[25:03] What prompted Tom's 2020 presidential run[26:05] The catalyst to Galvanize[29:26] The firm's different focus areas and strategy[34:45] Tom's "five plus one" approach to investing[38:01] The model Tom would like O&G companies to take in the transition[40:45] Thoughts on the "climate war"[44:13] What happens when climate tech is no longer a category[46:56] Tom's thoughts on permitting halting clean energy progress[49:59] Rapid fire topics including China and India[53:13] Hyperscalers and AI[55:01] Tom's policy wish list[59:29] His call to action for listenersEpisode recorded on Sept 24, 2024 (Published on Nov 4, 2024) Stay Connected with MCJ:Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@mcj.vc.

Climate change is inevitable. It's already here. But at the same time, the energy transition–the rewriting of industries to be cleaner, more profitable, and more resilient–is also inevitable.Join MCJ Managing Partner Cody Simms each week as sits down with experts across sectors to explore the groundbreaking innovations and extraordinary people shaping the transition of energy and industry.   Stay Connected with MCJ:Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@mcj.vc.

Today on My Climate Journey, we’re bringing back a familiar voice: Jason Jacobs, Founder and Venture Partner at MCJ. In this special episode, Cody and Jason reflect on the evolution of MCJ and its mission to drive climate innovation. While this is the last episode under the My Climate Journey name, don’t worry—the show isn’t going away. The format will stay the same, but a new name is coming soon. Cody and Jason share lessons learned, the ongoing need for collaboration, and gratitude for the community built along the way.In this episode, we cover: [1:57] Jason's early climate journey and where MCJ fits in the transition[4:15] How Jason's feelings about climate change have evolved [6:43] The nature of discussion around topics like climate change[9:19] Jason's updated role at MCJ[10:31] His hopes for the future of the firm [11:15] Advice for folks starting their own climate journeys[12:11] Jason's thoughts on the role of oil and gas in the transition [13:17] And the role of activism [14:47] Jason's thoughts on the category of climate tech and market forces[17:50] Our collective responsibility to address the systems problem [19:57] The role of the MCJ show going forwardEpisode recorded on Oct 22, 2024 (Published on Oct 31, 2024) Stay Connected with MCJ:Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@mcj.vc.

Joselyn Lai is the Co-founder and CEO at Bedrock Energy. Bedrock uses geothermal energy to transform the heating and cooling of buildings. We've covered geothermal on the show a few times, but Bedrock brings a unique approach. On one end of the spectrum, we've explored large utility-scale geothermal projects, which aim to drill deep to tap into underground steam vents for turbine-powered electricity generation. On the other end, we've featured companies that drill relatively shallow wells to create underground loops, providing ground-source insulation for residential heat pumps. Bedrock falls closer to this second category but goes deeper than most residential projects, using these techniques to power heat pumps for large commercial and industrial buildings.We were interested to hear from Joselyn about the technology she's developed to pursue this opportunity, what market demand looks like, and how her solution compares against the HVAC status quo and commercial-scale air-source heat pumps.In this episode, we cover: [2:24] Overview of Bedrock Energy and its geothermal approach[4:03] How Bedrock’s methods differ from other geothermal generation techniques[5:15] Joselyn's journey to founding Bedrock Energy[8:14] Focusing on the existing HVAC market[13:18] Integration of geothermal systems into commercial buildings[16:57] Overview of Bedrock's underground geothermal technology[22:18] On-site footprint of Bedrock’s geothermal solutions[29:32] Proprietary software and drilling innovations for efficient deployments[31:29] Understanding Bedrock’s early customer base[34:26] Challenges related to geology and labor shortages[38:58] Collaborating with utilities for enhanced grid benefits[43:57] Bedrock Energy’s progress and milestones so farAdditional episodes:Residential Geothermal with Dandelion EnergyStartup Series: QuaiseEpisode recorded on Oct 3, 2024 (Published on Oct 24, 2024) Stay Connected with MCJ:Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@mcj.vc.

Erica Nemser is CEO at Ardent, a Series A stage startup that's aiming to help drive industrial decarbonization by developing and selling membranes to perform point source carbon capture. Point source capture differs from direct air capture in that it's focused on concentrated greenhouse gas emissions coming right out of the flue of an industrial system, as opposed to direct air capture (DAC), which attempts to capture emissions from ambient air. Ardent, formerly Compact Membrane Systems, has been operating for 30 years, but its pivot to carbon capture and tech startup status is recent. In this episode, we discuss how Ardent’s technology stands out in the point source capture field, the industry's varied approaches to decarbonization, and how Erica’s leadership has guided the company's transformation.In this episode, we cover: [2:11] Rebranding from Compact Membrane Systems to Ardent[3:53] Ardent's membrane-based carbon capture solution and how it differs from other technologies [6:29] Erica's background and how it has informed her leadership at Ardent[7:37] Ardent's go-to-market strategy of partnering for scale[12:15] The company's hypothesis around facilitated transport membranes [13:05] An overview of Ardent's approach to industrial carbon capture [18:01]: Ardent’s low-energy membrane systems for carbon capture[19:50]: Overview of Ardent’s membrane system setup[23:03]: Addressing concerns about prolonging fossil fuel use with carbon capture[25:11]: Erica’s perspective on diverse solutions for industrial heat[32:06]: “Carbon Capture as a Service” explained[37:20]: Agricultural sector's interest in carbon capture[45:51]: Ardent’s global presence and talent searchEpisode recorded on Aug 1, 2024 (Published on Oct 17, 2024) Stay Connected with MCJ:Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@mcj.vc.

Molly Yang is CEO and co-founder of Hgen, a company that develops clean hydrogen to decarbonize heavy industry. Specifically, they are working on alkaline electrolyzer technology to make it have higher efficiency and higher power density, which they claim will allow them to produce hydrogen with a smaller footprint and lower cost, using a modular, mass-manufacturable design.Based in Los Angeles, Hgen has raised capital from Founders Fund, Fontinalis Partners, and Seven Seven Six among others. Prior to starting Hgen, Molly was on the Product team at Tesla, where she led initiatives across Tesla's industrial and residential energy products. Her co-founder and childhood friend, Colin Ho led actuation & power system for Starship and propulsion components for Crew Dragon at SpaceX.In this episode, Molly and Cody talk all about Hgen's origin story, technology and market. Toward the end of the conversation, she offers her thoughts to other climate tech startup founders and climate tech investors about how to approach a market.In this episode, we cover:[3:13] Molly’s background at Tesla and her motivation for starting Hgen[6:09] Exploring different solutions for hard-to-abate sectors[8:30] Hgen’s focus on distributed hydrogen production through alkaline electrolysis[9:24] Comparing alkaline vs. PEM electrolyzers[14:16] The challenges and advantages of alkaline electrolyzers[16:10] Targeting markets that use hydrogen today and displacing gray hydrogen[22:10] Various use cases for hydrogen[25:06] Hgen’s progress and business model[27:49] Hgen is hiring![28:08] How different investors view hydrogen[34:25] Molly's advice for entrepreneursEpisode recorded on July 11, 2024 (Published on Oct 10, 2024)  Stay Connected with MCJ:Cody Simms on LinkedIn | XVisit mcj.vcSubscribe to the MCJ NewsletterEnjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@mcj.vc.