👶 If fintech and sustainability had a baby…
Your 3-minute summary of climate tech, startups, better habits, and deep work.
Good morning, folks.
In today’s 3-minute read, we’ll cover these juicy nuggets:
🏆 $370B for climate solutions — LFG!
💰 30 women investors in foodtech and climate tech startups
🎙️ 2 climate podcasts — $375M of growth equity | $20M for iron cathodes
👶 If fintech and sustainability had a baby…
🧡 Taxes — Why you should give them a big warm hug.
Enjoy.
Chris
🏆 $370B for climate solutions — LFG!
No — that’s not “Looking For a Group” from the beer pong days.
And yes — that “F” can stand for a lot of things.
But, Let’s Freaking Go!
The Inflation Reduction Act has been signed into law.
Here are some climate-related highlights from JD Supra.
The extension of the Production Tax Credit (“PTC”) and the Investment Tax Credit (“ITC”) for renewable energy projects (such as wind, solar, geothermal, biomass, hydropower) that begin construction before January 1, 2025.
The expansion of the definition of ITC-eligible energy property to include storage (but this does not include transmission-related property).
A new PTC for solar property and extension of PTC for geothermal projects.
The extension of the 45Q carbon oxide sequestration credit for projects beginning construction before January 1, 2033. This tax credit amount would also be increased and the minimum capture requirements would be significantly reduced.
The creation of a PTC and an ITC that are neutral with respect to technology would be available beginning in 2025 through the later of (a) 2032 or (b) the year certain emissions thresholds are achieved after which the applicable credit will phase down (45D).
The Bill also creates and expands certain credits including:
Clean Hydrogen Fuel Credit (45V);
Zero-Emission Nuclear Power Production Credit (45U);
Advanced Manufacturing Production Credit (45X);
Clean Fuel Production Credit (45Z);
Renewable Fuels Credits; and
EV and Charging Infrastructure Credits.
The Bill provides for a “direct pay” option for most of these tax credits, but such an option would be largely limited to certain tax-exempt and governmental entities. However, there would be limited and time-based exceptions to this restriction for the (i) Clean Hydrogen Fuel Credit (45V), (ii) 45Q tax credit, and (iii) Advanced Manufacturing Production Credit (45X).
🎙️ 2 climate podcasts — $375M of growth equity for new energy companies, $20M for smarter iron-based battery cathodes.
Here are two of my recent podcasts from Entrepreneurs for Impact.
Show these guys some love. Give’ em a share on social. 💘
Lime Rock New Energy invests private equity capital out of its first $375M fund into maturing companies focused on renewable energy products and services, energy efficiency for industry and the built environment, and transportation electrification.
Mark Lewis is a Managing Director with Lime Rock New Energy, with responsibility for investment sourcing, execution, and overall fund management. He currently serves on the board of directors of EPE, Qmerit, and Smart Wires. Previously, he was the President of TAE Technologies, Inc., the world’s largest and most advanced fusion energy technology development company; CEO of ONEnergy, a diversified energy services company involved in energy retailing, commercial and industrial energy efficiency and distributed solar projects; Managing Director at MissionPoint Capital Partners, an environmentally driven investment firm focused on financing the transition to a lower-carbon economy; and head of Global Business Development at GE Energy where he was involved in over $15 billion of transactions.
Listen to the podcast — Mark Lewis, Managing Director of Lime Rock New Energy:
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Mitra Chem is solving three problems:
Shifting the Western electric vehicle and energy storage industries' battery portfolio towards safer, cheaper, and cleaner iron-based battery cathodes
Building production capacity in the USA to offset production asset overconcentration in China
Accelerating by >90% the lab-to-market timeline for a portfolio of battery materials through a proprietary machine learning advantage
Vivas Kumar is the co-founder and CEO of Mitra Chem. Previously, he was a senior manager in Tesla's Battery Team, where he was the lead commercial negotiator for strategic contracts representing billions of dollars in aggregate multi-year spend along the battery materials supply chain (the company's largest BOM category). Throughout his career, he has conducted commercial negotiations and handled partnerships with executive and senior government counterparties in North America, Europe, Latin America, and Asia-Pacific. Vivas earned degrees in engineering at Rice University and an MBA at Stanford Graduate School of Business.
Listen to the podcast — Vivas Kumar, CEO of Mitra Chem:
💰 Power + mission — 30 women investors in foodtech and climate tech startups.
Shout to Food Hack for putting this list together.
Below are 10 of the 30 women investors.
I don’t want to steal all of Food Hack’s thunder. So, get all the deets here.
Ayna Arora, Impact Investor
Ba Minuzzi, Founder and CEO, Umana
Beatriz Franco, Partner, Portfolia
Camille Bossel, Co-Founder, FoodHack
Eva Sommer, CEO, Fermify
Gili Elkin, Founding General Partner, ICI Fund
Heather Courtney, CEO, Alwyn Capital
Mariliis Holm, Co-Founder, Sustainable Food Ventures
Melissa Facchina, General Partner, Siddhi Capital
Shayna Harris, Managing Partner, Supply Change Capital
👶 If fintech and sustainability had a baby…
Curious?
Me, too.
Explore more with this market map from WhiteSite (fintech research provider) and their detailed summary of the map here.
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Or take a look at it this way — fintech providers (right) vs. various climate goals (left).
🧡 Taxes — Why you should give them a big warm hug.
I came across this in my morning meditations and thought you might like it.
It comes from the Daily Stoic by Ryan Holiday.
Taxes are inevitable part of life. There is a cost to everything we do.
As Seneca wrote to Lucilius, “All the things which cause complaint or dread are like the taxes of life—things from which, my dear Lucilius, you should never hope for exemption or seek escape.”
Income taxes are not the only taxes you pay in life. They are just the financial form.
Everything we do has a toll attached to it.
Waiting around is a tax on traveling. Rumors and gossip are the taxes that come from acquiring a public persona. Disagreements and occasional frustration are taxes placed on even the happiest of relationships. Theft is a tax on abundance and having things that other people want. Stress and problems are tariffs that come attached to success.
And on and on and on.
There’s no reason or time to be angry about any of this.
Instead, we should be grateful.
Because taxes—literal or figurative—are impossible without wealth.
So what are you going to focus on? That you owe something, or that you are lucky enough to own something that can be taxed.
That’s all, y’all.
Make it a great week, because it’s usually a choice.
Chris
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Dr. Chris Wedding
Founder and Chief Catalyst, Entrepreneurs for Impact
We help CEOs and investors tackle climate change with mastermind peer groups, online courses, newsletters, and podcasts
🌎 P.S. Are you ready to get better at startup fundraising?
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