FOAK at VDS 2025

At VDS 2025, I joined a panel on First-of-a-Kind (FOAK) projects — that messy moment when a technology leaves the lab and enters the real world.

The panel had three people, representing each side of a FOAK. First, and foremost, the investors view was delivered by Mirjam Terhorst, partner at Move Energy. Second, the engineering and technical side of a FOAK was represented by Carland Lopez, CTO of Aeroborn, And third was me, representing the bridge builder or consigliere — working on the business models, team structures, and partnerships that make FOAKs succeed.

Our panel was also a first-of-a-kind panel at VDS, where software projects usually take the main stage. Just before our panel, we had a panel on AI adoption in large corporations, which was as boring as it was crowded. Our panel was precisely the opposite - a sharp discussion with plenty of free seats. Which kind of illustrated the point that FOAKs are unglamorous and lonely!

We covered what FOAKs are and why they are difficult for investors, engineers, and managers. We also discussed how to streamline FOAK financing by reducing risks and getting creative with funding structures.

Laurent-Frederic Lohmann smoothly guided us through the panel and then dropped a bomb question, which he had kept quiet about during our prep session - what is the one thing the EU should do to speed up FOAKs in Europe? My answer - copy and paste the U.S. DOE Loan Programs Office—Large-scale, non-dilutive loans that back early deployments.

FOAK discussions are a recent feature of climate startup conferences. I only wish that there would be more of them and that they would focus not only on the most fascinating subject of financing FOAKs, but on a more critical one - the execution of a FOAK project. Because we need to learn to FOAK — and FOAK fast.