This week, I listened to two excellent podcasts dissecting the saga of Northvolt: "Northvolt - Epitaph"  by Redefining Energy  and "What Went Wrong at Northvolt?"  by Catalyst.  Both offered deep insights into what went wrong, often with overlapping and complementary points. But here’s the kicker— they both missed a crucial piece of the puzzle . Let’s break it down. What Went Wrong at Northvolt? 🏭 Too Fast, Too Big Northvolt tried to do it all—developing new chemistries, building multiple factories, materials production, and recycling—all at once. Catalyst  pointed fingers at investors for pushing a “go big or go home” mentality, while Redefining Energy  laid the blame squarely on top management. 💔 Culture Eats Strategy Catalyst  highlighted the Swedish consensus-driven work culture as a stumbling block, especially when managing a diverse workforce with many from Asian cultures. Meanwhile, Redefining Energy  emphasized poor operational procedures, which led to accidents and communication breakdowns. 📍 Poor Location Choice The North of Sweden might be scenic, but it’s not ideal for attracting top talent. The best R&D staff had to be based elsewhere, leading to a disconnect between R&D and manufacturing—a fatal flaw for any high-tech manufacturing operation. 🦓 The Zebra in the Clean Room In top-tier battery factories in Asia, electrode rolls are smooth as glass. Northvolt’s electrodes? Striped like a zebra. Poor quality control, coupled with subpar equipment and an unhealthy work culture, meant they couldn’t deliver quality products. And if you can’t make a quality product, it’s game over—unless you’re in consulting, of course. What Both Podcasts Missed 🧪 It’s Execution, Not Chemistry Both podcasts criticized Northvolt’s choice of NMC chemistry, calling it a strategic mistake. Here’s where I disagree. The problem wasn’t chemistry; it was execution. If Northvolt had reached even half of its capacity with good-quality cells and then failed to hit cost targets, we could argue the chemistry choice was flawed. But demand for NMC is still strong and won’t disappear anytime soon.  Would initially choosing LFP have saved them? Doubtful. Without mastering manufacturing, they’d still end up in the same mess. So, Bulldoze or Battery Factory? Success in scaling isn’t about buzzwords or bold strategies—it’s about execution. Investors and industry leaders need to focus less on hype and more on the nuts and bolts of making things work. I’ve enjoyed listening to both podcasts and hope you will, too! What are your thoughts? Drop your comments below and follow me for more climate tech scale-up insights! And just in case you’ve wondered - I side with the bulldoze option.💣 #Northvolt #BatteryIndustry #ScaleUp #Cleantech #EnergyTransition #Execution #eu #gigafactory

Second week. Two countries. Countless conversations. My battery industry tour continued through Germany and the Netherlands, and here’s what I found: 🇩🇪 𝗚𝗲𝗿𝗺𝗮𝗻𝘆: 𝗖𝗮𝘂𝘁𝗶𝗼𝘂𝘀 𝗮𝗻𝗱 𝗦𝗵𝗮𝗸𝗲𝗻 The fallout from Northvolt continues to cast a long shadow. Local players are in a bind—fully aware of the cracks in their current strategies but unable to see a clear alternative. So, what’s the plan? For most, it’s doubling down on the familiar. The lack of bold vision is worrying. If we’re to close the gap with Asia’s battery giants, “business as usual” won’t cut it. 🇳🇱 𝗧𝗵𝗲 𝗡𝗲𝘁𝗵𝗲𝗿𝗹𝗮𝗻𝗱𝘀: 𝗛𝘂𝘀𝘁𝗹𝗲 𝗮𝗻𝗱 𝗩𝗶𝘀𝗶𝗼𝗻 The Dutch mood is entirely different, for all the right reasons. There’s an entrepreneurial energy that Germany seems to be missing right now. Using Eindhoven as a base for a week of back-to-back meetings—we met teams hustling hard: 💰 Securing funding (like CarbonX) 🏭 Preparing to scale up next-gen battery technologies (can't say yet who 🤫) 📜 Rolling out a clear national vision for their battery industry. Strategic players in the Netherlands are focused, determined, and committed to building a small but resilient local supply chain. The conversations were refreshing—this is exactly the kind of grit and clarity the EU battery sector needs. I’m glad to be supporting these efforts, bringing new solutions to the table. 🛣️ 𝗧𝘄𝗼 𝗪𝗲𝗲𝗸𝘀 𝗼𝗳 𝗟𝗲𝘀𝘀𝗼𝗻𝘀 𝗮𝗻𝗱 𝗠𝗶𝗹𝗲𝘀 Days packed with 2–3 meetings, broken up by long drives or short flights. Now I’m back in Istanbul. While Western Europe slows down for the holiday season, I’ll be here, using the quiet to plan for 2024. New year, new challenges, and new opportunities to help scale cleantech across Europe. 💬𝗬𝗼𝘂𝗿 𝗧𝗵𝗼𝘂𝗴𝗵𝘁𝘀? What do you think will drive the EU battery industry forward—vision, funding, or something else? Drop your thoughts in the comments, and follow me for more insights on the EU battery industry and all things cleantech! #BatteryIndustry #ScaleUp #Cleantech #EUIndustry #EnergyTransition #SupplyChain #Innovation

The world is juggling existential challenges: extreme weather, sentient AI, nuclear tensions, and the looming threat of another pandemic. It’s not clear which will claim the spotlight—or us—first. But here’s a question: if the magnitude of a problem is reflected by the books written about it, which would win? I found my answer last Friday in a Berlin bookstore. A dedicated stand for AI boasted dozens of titles, from dystopian tales to tech-savvy how-to guides. The climate section? Seven books. Six of them fiction. AI, clearly, wins the marketing and entertainment contest. And as a cyberpunk fan, I get it—AI makes for thrilling storytelling. Yet, the reality is that climate change is no less monumental than AI, perhaps even more so. But where’s the literary reflection of this? 🔮 𝗖𝗹𝗶𝗺𝗮𝘁𝗲 𝗙𝗶𝗰𝘁𝗶𝗼𝗻? It’s been decades since 𝘋𝘶𝘯𝘦 gave us a sweeping environmental epic. Kim Stanley Robinson’s works—like 𝘛𝘩𝘦 𝘔𝘪𝘯𝘪𝘴𝘵𝘳𝘺 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘍𝘶𝘵𝘶𝘳𝘦—are modern highlights of climate fiction, but the list is short. I struggle to name any other climate fiction, apart from 𝘡𝘰𝘥𝘪𝘢𝘤 by Neal Stephenson. 📖 𝗡𝗼𝗻-𝗙𝗶𝗰𝘁𝗶𝗼𝗻? 𝗦𝗽𝗮𝗿𝘀𝗲 𝗮𝗻𝗱 𝗦𝗽𝗼𝘁𝘁𝘆.
On the non-fiction front, climate, and energy transition books are few and often lack depth. Many are either overly simplistic or gloss over critical technical and economic nuances. That’s why I started reviewing the best of them on my blog. It’s a collection I’m constantly expanding. 💡 𝗬𝗼𝘂𝗿 𝗧𝘂𝗿𝗻
 What are your go-to books on climate change or energy transition? Fiction or non-fiction, I’d love to hear your recommendations. Drop your favorites in the comments—I’m always on the hunt for the next great read!
 #ClimateChange #EnergyTransition #BookRecommendations #Sustainability #AI #Cyberpunk

This week, I’ve been crisscrossing Europe, meeting with battery industry players. Naturally, every single conversation has touched on the “N” word. Yes, Northvolt . The mood? Mixed. On one hand, somberness . Many companies are deep in fundraising mode, now saddled with an extra task—convincing investors that they’re not destined for the same fate as Northvolt. On the other hand, relief . There’s a sense that Northvolt’s struggles might finally wake investors up. Perhaps they’ll stop throwing billions at “disruptive” startups that have no clue how to manufacture at scale. The industry doesn’t need more glossy pitch decks; it needs well-thought-out scale-up strategies and operational expertise. This weekend, I’m in Berlin . If you’re around, let’s grab a beer and chat batteries (or anything else!) 🍻 Next week, my EU battery odyssey continues. I’ll be meeting more industry players and gathering fresh insights. Stay tuned—there’s plenty more to unpack in Europe’s battery revolution. #BatteryIndustry #ScaleUp #Northvolt #Cleantech #EnergyTransition #StartupGrowth #BerlinMeetUp

Running a lithium-ion battery manufacturing company made me question whether we needed a Chief Sustainability Officer (CSO). I couldn’t quite pin down a job description at the time, but I had a nagging feeling we did. Now, after diving into the role of CSOs across industries, I see how this position is evolving—and why it’s critical, even as its future in the C-suite might be uncertain. 📚 I read "Chief Sustainability Officers at Work"  by Chrissa Pagitsas in 2023. It is a collection of interviews with 24 CSOs from major corporations like Netflix, Coca-Cola, HP, and BlackRock. Some interviews are heavy on corpo-speak, but many provide practical insights into what CSOs actually do and where they add value. How the Role of CSOs Evolved The journey of corporate sustainability can be divided into three stages:1️⃣ Philanthropy : At first, sustainability was about doing good for the sake of reputation.2️⃣ Marketing & Risk Management : Then, it became a tool to enhance brand value and manage risks.3️⃣ Strategic Core : Today, sustainability is becoming the cornerstone of business strategy, driving long-term thinking and shaping product development, supply chains, and investor relations. Sophia Leonora Mendelsohn of Cognizant captures this evolution perfectly, but others like Steve Waygood of Aviva Investors take it further: sustainability is a lens through which companies can think and plan decades ahead—something many regulators, politicians, and business leaders struggle to do. Key Misconceptions About CSOs A common misconception is that CSOs simply add costs to a business. The reality? Smart sustainability initiatives create tangible value: Lower Costs : Amazon reduced its packaging weight by 36%, cutting waste and costs. Better Products : Kevin Hagen of Iron Mountain highlights how ESG considerations lead to faster, cheaper, and more customer-aligned products. Investor Confidence : Post-COVID, ESG mentions in investor calls jumped from 1% to 20%, according to Heidi DuBois of AEA Investors. Sustainability is no longer optional—it’s essential for attracting capital. Where Does the CSO Fit? Here’s where the job gets tricky. CSOs participate in almost all business processes: 🌍 Supply chain management ⚡ Energy sourcing 🎯 Product development 💼 Investor relations Some report directly to CEOs, while others sit under COOs or CFOs, particularly as ESG reporting becomes more formalized. But there’s a debate about whether the CSO role should even exist long-term. At BlackRock, they argue that sustainability, if material to the business, should sit with the board of directors . Marisa Buchanan of JP Morgan Chase says it best: “Forget titles—no job description ever fixed in the sustainability field.”  A CSO role can be critical when a company is just starting its ESG journey. Over time, though, sustainability may become so embedded in operations that the role fades, leaving strategic oversight to the boardroom. The Future of Sustainability Leadership While the CSO role may change or even disappear, the need for sustainability oversight won’t. ESG principles are reshaping industries, driving innovation, and influencing investment decisions. I read this book almost two years ago, and since then, I’ve been following sustainability professionals on LinkedIn. What I’ve noticed is that much of their time and effort seems to be spent on reporting —creating and managing ESG disclosures rather than actively driving change. So here’s my question for you: Is the day-to-day reality of being a CSO more like what this book describes, or is it 90% paperwork and compliance?  Let’s discuss! #Sustainability #ESG #Leadership #CorporateStrategy #GreenBusiness #CleanTech #FutureOfWork

The Term Sheet is the backbone of your future offtake agreement. It outlines key terms in plain language and, while not legally binding, sets the foundation for everything that follows. Here’s why it’s crucial: 📜 What is a Term Sheet? It’s where you define the who, what, when, and how of your offtake deal—pricing, volumes, delivery terms, and more. Once terms are agreed upon, changing them later is almost impossible without damaging your credibility. 🎯 Key Focus Areas During Negotiation 1️⃣ Pricing Mechanisms: Decide if pricing will be fixed, indexed to market rates, or cost-plus margins. A wrong choice can crush your margins. 2️⃣ Volume Commitments: Be clear—take-or-pay, conditional offtake, or firm volumes? Nail it down now. 3️⃣ Delivery Terms: Address logistics—who ships, where, and what happens if deadlines slip? 4️⃣ Quality Standards: Define measurable criteria for your product and include the full certification process if required. 5️⃣ Timelines: Set deadlines for signing the binding agreement and transitioning to the offtake phase. 💡 Why It’s Critical The Term Sheet is like a gentleman’s agreement—everyone expects you to stick to it. Mistakes here will haunt you later, and changing terms after this stage can erode trust and derail negotiations. 📈 Pro Tips • Know Your Value: Push for fairness understanding your partner’s priorities. A strong negotiation now sets the stage for smoother dealings later. • Keep Lawyers in Check: Use plain language and involve your legal team, but don’t let them take over. They’ll craft better binding terms when they’ve seen how you and your client align. 🔗 Your Next Move? If you’re approaching the Term Sheet stage, don’t wing it. This is where your maximum value lies. DM me to discuss your strategy, or visit my blog for more insights on mastering off-take agreements. #Cleantech #ScaleUp #TermSheet #OfftakeAgreements #BusinessNegotiations #StartupGrowth

I recently came across an article about Climate First VC’s collaboration with Honda, exploring the pros and cons of working with strategic investors. While I agree with their points on the benefits and challenges for startups (and could write another post or ten on that), their take on why strategic investors invest in startups doesn’t quite match my experience. Here’s my breakdown. What Strategics Say They’re Doing The article lists all the obvious reasons, like 1️⃣ Financial Returns – Because startups are cash cows? Unlikely. No corporation I know thinks startups are any good for generating returns. Core business is always better. 2️⃣ Net Zero Goals – If only press releases counted as emissions reductions. But startups make for a convenient smokescreen. 3️⃣ Hedging Regulatory Risks – Plausible in theory, rarely actionable in practice. Regulators don’t care about startups. 4️⃣ 21st Century Leadership – Corporations rarely think startups can teach them anything, despite evidence to the contrary. 5️⃣ Speed to Market – This is more about speed to market for existing corporate products that no one wants to buy. These reasons sound great on paper, but they’re mostly about optics. Now, let’s talk reality. The Real Reasons Corporations Invest in Startups: 1. Synergy (aka Captive Customer Play) “Synergy” is the corporate buzzword for turning your startup into their profit center . When strategics say they want “synergy,” what they mean is that your startup will buy their products and services. Often, at inflated prices. 2. Public Relations & Greenwashing Need to look innovative or green for shareholders, regulators, or the media? Just point to a climate tech investment. Whether or not the startup succeeds is secondary; the PR value is immediate. 3. Individual Champions, Not the Corporation Every now and then, there’s a visionary  manager in a corporation—someone who truly believes in the potential of startups and fights to make things happen. But here’s the catch: it only last as long as the manager stays in their role. The second they move on, that “strategic alignment” melts faster than your pre-seed investors lists. Should You Work with Strategics? Absolutely— but know what you’re signing up for. Strategic investors can bring funding, visibility, and connections that startups can’t achieve on their own. However, understanding their true motivations is essential to avoid traps and maximize the value of the partnership. Final Thought: Strategic investors can be powerful allies or high-maintenance partners, so which one was yours? Drop your war stories in the comments. If you're navigating strategic partnerships, reach out! I’ve been on both sides of the table, and I’m happy to share what I’ve learned. #ClimateTech #StartupLife #StrategicInvestors #Partnerships #GreenTech #Innovation #ScaleUp #CorporateStrategy

You’ve got your NDA signed, your MOU is in place, and now it’s time to step things up with a Letter of Intent (𝗟𝗢𝗜). The LOI is the milestone where your relationship with a potential offtake client shifts from polite interest to a focused effort—without binding commitments just yet. Here’s what you need to know: 📜 𝗪𝗵𝗮𝘁’𝘀 𝗮𝗻 𝗟𝗢𝗜?
 An LOI is a non-binding document that formalizes the 𝗶𝗻𝘁𝗲𝗻𝘁 𝘁𝗼 𝗲𝘃𝗲𝗻𝘁𝘂𝗮𝗹𝗹𝘆 𝗱𝗲𝘃𝗲𝗹𝗼𝗽 𝗮𝗻𝗱 𝘀𝗶𝗴𝗻 𝗮 𝗯𝗶𝗻𝗱𝗶𝗻𝗴 𝗰𝗼𝗻𝘁𝗿𝗮𝗰𝘁. Tactically, it is 𝗮 𝗽𝗹𝗮𝗻 𝘁𝗼 𝗱𝗲𝘃𝗲𝗹𝗼𝗽 𝗮𝗻𝗱 𝗮𝗴𝗿𝗲𝗲 𝗼𝗻 𝗮 𝗧𝗲𝗿𝗺 𝗦𝗵𝗲𝗲𝘁. It sets a clear 𝘁𝗶𝗺𝗲𝗹𝗶𝗻𝗲 for both parties to negotiate and finalize the Term Sheet, which will serve as the foundation for the eventual offtake agreement. Treat it like a plan, that sets a timeline and resources to develop key terms of your future binding agreement. 🛠 𝗪𝗵𝗮𝘁 𝗚𝗼𝗲𝘀 𝗜𝗻𝘁𝗼 𝗮𝗻 𝗟𝗢𝗜?
 1️⃣ 𝗜𝗻𝘁𝗲𝗻𝘁: State the goal—agreeing on a Term Sheet that outlines the main terms of a future offtake agreement.
 2️⃣ 𝗧𝗶𝗺𝗲𝗹𝗶𝗻𝗲: Define clear deadlines for completing due diligence, drafting the Term Sheet, and locking it in. Don’t be too hasty. Allow for plenty of time. 
 3️⃣ 𝗦𝗰𝗼𝗽𝗲: Specify what areas the Term Sheet will cover, like product specs, volumes, pricing mechanisms, and delivery terms. You don’t need to be super specific, as additional terms may come up in negotiations. 
 4️⃣ 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝗶𝗲𝘀: Assign roles for the work ahead, ensuring everyone knows who is accountable for which tasks. Pay attention to information sources - who will provide what information. 💡 𝗪𝗵𝘆 𝗜𝘁 𝗠𝗮𝘁𝘁𝗲𝗿𝘀
 The LOI isn’t just another piece of paper—it’s a roadmap. It ensures both parties are aligned on timelines and expectations as you work toward the Term Sheet. It also gives your corporate partner an instrument to muster more corporate resources for the deal, showing that both sides are committed to making progress. 📈 𝗣𝗿𝗼 𝗧𝗶𝗽
 Use the LOI to lock in your partner and set the negotiation pace. There is not much substance in the LOI, but a solid LOI makes pushing the Term Sheet discussions smoother. 🔗 𝗬𝗼𝘂𝗿 𝗡𝗲𝘅𝘁 𝗦𝘁𝗲𝗽?
 If you’re preparing to draft or negotiate an LOI, I can help you navigate the process and set yourself up for success. Let’s make sure you get to the Term Sheet phase with confidence. Message me for insights on scaling cleantech, and don’t forget to follow me here or visit my blog for deeper dives into off-take strategies. #Cleantech #ScaleUp #OfftakeAgreements #LOI #TermSheet #StartupStrategy #BusinessGrowth

It’s an old joke but one that hits close to home for anyone following the hydrogen space. Yesterday, I listened to one of the clearest, most insightful podcast episodes on hydrogen yet. Yoann Berno sat down with Ben James, who delivered a simple yet razor-sharp explanation of hydrogen's role in the energy transition. 𝗛𝗲𝗿𝗲’𝘀 𝗺𝘆 𝗺𝗮𝗶𝗻 𝘁𝗮𝗸𝗲𝗮𝘄𝗮𝘆:
 Hydrogen isn’t just about science or policy. Like real estate, there are three main criteria for project success: 𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻, 𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻, 𝗮𝗻𝗱 𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻. 𝗪𝗵𝘆 𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻 𝗺𝗮𝘁𝘁𝗲𝗿𝘀: • 𝗘𝗻𝗲𝗿𝗴𝘆 𝗰𝗼𝘀𝘁𝘀 𝗱𝗼𝗺𝗶𝗻𝗮𝘁𝗲: Half the cost of green hydrogen comes from electricity. Producing 1 kg of green hydrogen requires about 50 kWh. If you want that kilogram to cost $1, you need electricity at 1.5 cents per kWh. So you need to locate your hydrogen production closer to the cheapest energy source you can find. • 𝗧𝗿𝗮𝗻𝘀𝗽𝗼𝗿𝘁 𝗸𝗶𝗹𝗹𝘀 𝗺𝗮𝗿𝗴𝗶𝗻𝘀: Hydrogen is notoriously tricky (read: expensive) to transport. Unless you’re making ammonia for local fertilizer markets, you’re likely better off producing hydrogen near the point of consumption. But first, check if there is a cheap energy source nearby. Projects like ATOME , led by Olivier Mussat, whom I've interviewed for my own podcast, get this right. They focus on areas with ultra-cheap renewable energy and local demand for ammonia. The result? Reduced shipping costs and a business model that stands a chance in the real world. Hydrogen projects that overlook energy costs or transport constraints aren’t likely to succeed—unless, of course, their investors are obscenely rich and love burning cash. 🎧 If you want 24 minutes of pure hydrogen clarity, I highly recommend the episode of The Climate Insiders with Yoann Berno and Ben James. 

And if you’re navigating green hydrogen projects or energy transitions, let’s chat. Follow me here and check out my website for more insights into cleantech and scaling innovative businesses. #HydrogenEconomy #EnergyTransition #Cleantech #GreenHydrogen #Sustainability #Innovation #ScalingStartups

If you think green tech is fading, take a look at the Q3 figures from Pitchbook. VC investments in green tech surged 50% in Q3 2024 compared to Q2, reaching a massive $6.4B. Here’s where the money is flowing: 💸 𝗤𝟯’𝘀 𝗚𝗿𝗲𝗲𝗻 𝗧𝗲𝗰𝗵 𝗗𝗮𝗿𝗹𝗶𝗻𝗴𝘀: 1️⃣ 𝗛𝘆𝗱𝗿𝗼𝗴𝗲𝗻: The juggernauts Mobii Green Energy (Taiwan) and China Hydrogen Energy Technology raised $3B between them.
 2️⃣ 𝗚𝗿𝗶𝗱 𝗜𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲: Pulled in a solid $1.2B.
 3️⃣ 𝗗𝗶𝘀𝗽𝗮𝘁𝗰𝗵𝗮𝗯𝗹𝗲 𝗘𝗻𝗲𝗿𝗴𝘆 (nuclear fusion and fission): $818.9M.
 4️⃣ 𝗜𝗻𝘁𝗲𝗿𝗺𝗶𝘁𝘁𝗲𝗻𝘁 𝗥𝗲𝗻𝗲𝘄𝗮𝗯𝗹𝗲𝘀: Just shy of $500M. For the year so far, 2024’s total green tech deal value stands at $15B, poised to surpass 2023’s $18.3B total. On a trailing 12-month basis, here’s how sectors rank: 🔥 𝗩𝗖’𝘀 𝗟𝗼𝗻𝗴-𝗧𝗲𝗿𝗺 𝗙𝗮𝘃𝗼𝗿𝗶𝘁𝗲𝘀: 1️⃣ 𝗚𝗿𝗶𝗱 𝗜𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲: $6.3B.
 2️⃣ 𝗖𝗹𝗲𝗮𝗻 𝗙𝘂𝗲𝗹𝘀: $6.1B.
 3️⃣ 𝗜𝗻𝘁𝗲𝗿𝗺𝗶𝘁𝘁𝗲𝗻𝘁 𝗥𝗲𝗻𝗲𝘄𝗮𝗯𝗹𝗲𝘀: $5.1B. 𝗪𝗵𝗮𝘁’𝘀 𝗖𝗮𝘁𝗰𝗵𝗶𝗻𝗴 𝗠𝘆 𝗘𝘆𝗲? * 𝗚𝗿𝗶𝗱 𝗜𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗥𝗶𝘀𝗶𝗻𝗴: It’s great to see VCs finally pouring money into grids. With intermittent renewables growing fast, robust grid investments were inevitable. This is the next big frontier. * 𝗖𝗹𝗲𝗮𝗻 𝗙𝘂𝗲𝗹𝘀: Let’s just say I wouldn’t park my money there. But hey, it’s their cash, and they’re free to lose it however they like. * 𝗡𝘂𝗰𝗹𝗲𝗮𝗿’𝘀 𝗖𝗼𝗺𝗲𝗯𝗮𝗰𝗸: Fusion and fission both saw strong momentum in Q3. Fusion is the classic ultra-long-term VC bet (15+ years), while fission is proving its potential for near-term growth. Curious? Check out the nuclear section of my blog for a deeper dive. 🛑 𝗔 𝗙𝗶𝗻𝗮𝗹 𝗥𝗲𝗺𝗶𝗻𝗱𝗲𝗿: Northvolt, crowned in the Pitchbook report as the #1 VC-backed clean tech energy company with $6.8B raised, shows that even the biggest players aren’t immune to failure. A billion-dollar Series C doesn’t guarantee a happily-ever-after. 💬 Let me know what you think of these numbers. Are VCs making the right bets, or are we headed for another wave of “Clean Fools”? Follow me here or head over to my blog for more insights on cleantech investments, energy transitions, and scaling startups. 🌍 #GreenTech #VentureCapital #EnergyTransition #Hydrogen #Renewables #NuclearEnergy #GridInfrastructure #StartupFunding

Last week, Northvolt became the talk of the town—and not in a good way. Billions invested. Big ambitions. Bigger headlines about its struggles. But let’s get real: 𝘀𝘁𝗮𝗿𝘁𝘂𝗽𝘀 𝗳𝗮𝗶𝗹. Even those that secure billions of euros. That’s the game. Investors knew the risks, and they’ll take the hit. Layoffs? Unfortunate, but not unique to startups. Just ask VW. Northvolt aimed high and couldn’t make it work this time. So what? Here’s the deal: 𝘁𝗵𝗶𝘀 𝗶𝘀 𝗻𝗼𝘁 𝘁𝗵𝗲 𝗲𝗻𝗱 𝗼𝗳 𝘁𝗵𝗲 𝗘𝗨 𝗯𝗮𝘁𝘁𝗲𝗿𝘆 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆. Northvolt’s stumble is not a death knell; it’s a wake-up call. It’s a signal that the EU’s battery ecosystem needs to rethink the fundamentals: - 𝗛𝗼𝘄 𝘁𝗼 𝗯𝘂𝗶𝗹𝗱 𝗳𝗮𝗰𝘁𝗼𝗿𝗶𝗲𝘀. - 𝗛𝗼𝘄 𝘁𝗼 𝗱𝗲𝘃𝗲𝗹𝗼𝗽 𝗱𝗲𝗲𝗽 𝗺𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴 𝗸𝗻𝗼𝘄-𝗵𝗼𝘄. - 𝗛𝗼𝘄 𝘁𝗼 𝘀𝗰𝗮𝗹𝗲 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝘆, 𝗻𝗼𝘁 𝗷𝘂𝘀𝘁 𝗾𝘂𝗶𝗰𝗸𝗹𝘆. Next week, I’ll be touring Europe, meeting with industry players across the battery value chain. Sure, we’ll talk about Northvolt. But most of our focus will be on solutions. 𝗛𝗼𝘄 𝗱𝗼 𝘄𝗲 𝘀𝗰𝗮𝗹𝗲 𝗘𝗨 𝗯𝗮𝘁𝘁𝗲𝗿𝘆 𝗺𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴? 𝗛𝗼𝘄 𝗱𝗼 𝘄𝗲 𝗲𝗻𝘀𝘂𝗿𝗲 𝗶𝘁𝘀 𝗹𝗼𝗻𝗴-𝘁𝗲𝗿𝗺 𝘃𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆? Northvolt’s story is a chapter, not the whole book. And it’s a chance for the EU battery industry to learn and grow. 💬 What do you think? Is this a blip or a broader lesson for cleantech scaleups? Let’s discuss. And if you’re working on scaling up in cleantech, 𝗿𝗲𝗮𝗰𝗵 𝗼𝘂𝘁! #BatteryManufacturing #Cleantech #EUIndustry #EnergyTransition #ScalingUp #Startups #Innovation #Sustainability

Two years ago, I had crypto miners knocking on my door. We were discussing not some of the latest cryptocurrencies but the energy supply for mining, specifically - solar and nuclear.  They weren’t asking for solar farms or nuclear power connections out of love for the planet—they just wanted 𝗰𝗵𝗲𝗮𝗽 𝗸𝗪𝗵. Fast forward to today, and Bitcoin hits an all-time high. Like it or not, demand for crypto isn’t going away anytime soon.  📈 With annual energy consumption equivalent to Poland’s (150 TWh), crypto’s hunger for power is a major climate topic. Some argue it should be banned outright. But here’s the thing: banning crypto misses the point entirely. 𝗖𝗿𝘆𝗽𝘁𝗼 𝗲𝘅𝗶𝘀𝘁𝘀 𝗯𝗲𝗰𝗮𝘂𝘀𝗲 𝗶𝘁 𝘁𝗵𝗿𝗶𝘃𝗲𝘀 𝗼𝘂𝘁𝘀𝗶𝗱𝗲 𝗴𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗰𝗼𝗻𝘁𝗿𝗼𝗹𝘀. You might as well tell bees to stop making honey. 🐝   So, what’s the solution? 𝗦𝗶𝗺𝗽𝗹𝗲—𝗰𝗹𝗲𝗮𝗻 𝗲𝗻𝗲𝗿𝗴𝘆. The same playbook applies to every energy-intensive industry. Crypto miners don’t care where their energy comes from, as long as it’s cheap. And guess what? Solar and wind are already the cheapest sources of electricity. I would even argue that crypto mining is good for the clean energy industry, as it creates demand, that can be filled with cheap solar and wind.  Within a few years, the entire crypto ecosystem could be fully decarbonized—powered by renewables, and most likely, solar panels made in China.   Let’s look at what clean energy players are doing in this field. Take Elon. Love him or hate him, the man backs his projections with action. He’s not just a commentator (X notwithstanding) —he’s a 𝗽𝗹𝗮𝘆𝗲𝗿. And aside from Tesla and Powerwall, his projects include, yes, crypto - the Dogecoin. You might roll your eyes at Bitcoin’s energy use, but its miners are players too. They’ll follow the money, and the money says 𝗴𝗼 𝗴𝗿𝗲𝗲𝗻.  🌱 💬 What’s your take—crypto: climate villain, or just another industry waiting for the renewable revolution? Drop your thoughts in the comments, and let’s discuss.   #Crypto #Bitcoin #CleanEnergy #Renewables #SolarPower #EnergyTransition #ClimateChange #Sustainability #Cleantech