Climate Tech Is Getting Funded. Just Not for Climate.

Entrepreneurship promises freedom. But building a company can also create more obligations, more complexity, and more people with a say in how you spend your time.After 17 years as an entrepreneur, I’ve learned there are really two kinds of freedom: freedom from and freedom to.Seven things you’ll learn in this episode:Know which freedom you want. Freedom from constraints is different from freedom to build the life and work you want.Entrepreneurship creates obligations. Customers, employees, investors, and growth can reduce freedom even as the business creates options.Optimize beyond salary. Flexibility, impact, autonomy, and relationships can matter more than maximizing compensation.Customers become bosses. Leaving a traditional boss doesn’t mean nobody gets to tell you what to do.More success can mean more complexity. Growth creates choices, but every new choice can bring another responsibility.Design the business around your life. Entrepreneurship is a tool, not the goal itself.Choose freedom to. The more powerful version of freedom may be the ability to pursue meaningful work, control your time, and build long-term relationships.Read more here:https://entrepreneursforimpact.substack.com/p/entrepreneurship-freedom-to-or-freedom—More stuff:Join our private CEO peer group in energy, infrastructure, industrial tech, and climate tech:→ entrepreneursforimpact.comJoin 40,000+ and read our free Climate CEOs newsletter:→ entrepreneursforimpact.substack.comListen to similar Climate CEOs podcast episodes:→ What 45 Climate CEOs Are Teaching Me About Leadershiphttps://podcasts.apple.com/ca/podcast/what-45-climate-ceos-are-teaching-me-about-leadership/id1561411048?i=1000793617370→ The 40-Year VC Lesson: Relationships Beat Transactions | Brad Feldhttps://podcasts.apple.com/us/podcast/the-40-year-vc-lesson-relationships-beat-transactions/id1561411048?i=1000788666377&l=ar→ "Give First" Mindset: VC Investor Lessons That Catalyzed 4,500+ Startups | Brad Feldhttps://podcasts.apple.com/us/podcast/give-first-mindset-vc-investor-lessons-that-catalyzed/id1561411048?i=1000722651181My 100 rules for living the good life (that I keep breaking)→ https://entrepreneursforimpact.substack.com/p/100-rules-i-try-to-live-by-and-oftenHelp our podcast guests and leave a rating or review on Apple or Spotify.→ Thanks in advance!Join 97,000+ and take my course, Renewable Energy & Green Building Entrepreneurship:→ coursera.org/learn/renewable-energy-entrepreneurship

What if AI could analyze terabytes of satellite, climate, grid, and subsurface data with a single question?Lium is building an AI operating system for the physical world that helps scientists, engineers, and businesses extract insights from massive datasets without spending months building data infrastructure.https://www.lium.aiGuest bios:Ryan Thill is co-founder of Lium, an entrepreneur with a background in environmental science and technology. He previously worked at Workday, Procore, and Box, and brings experience in enterprise software, AI, and business development.Josh Knutson is co-founder of Lium and a serial entrepreneur and a former mental health clinician turned technology founder who has worked across healthcare, data engineering, and AI, combining technical expertise with a passion for environmental impact.Both have built and sold companies.Company summary:Lium is developing a cloud-based operating system that connects AI agents to massive, complex datasets across climate, energy, natural resources, and other physical-world industries. Its technology enables users to analyze satellite imagery, weather patterns, electric grids, seismic data, and subsurface resources without extensive coding or data migration. Applications include geothermal exploration, carbon sequestration, flood risk, and grid intelligence.Seven things you’ll learn in this episode:Domain expertise is the AI moat. Frontier models will improve, but proprietary knowledge and specialized workflows remain valuable.Move the intelligence, not the data. Connect AI to existing datasets instead of spending 12–18 months migrating them.Make experts more powerful. Let scientists and engineers build AI workflows without becoming software developers.Choose markets systematically. Find industries where complex data, expensive decisions, and specialized expertise intersect.Turn research into products. Convert scientific code and published research into reusable AI tools.Fail faster. Entrepreneurship rewards rapid experimentation, learning, and the willingness to confront obstacles.Get out of your head. Meditation and short walks can help founders manage stress, gain perspective, and make better decisions.–Extra stuffJoin our private CEO peer group in energy, infrastructure, industrial tech, and climate tech:→ entrepreneursforimpact.comJoin 40,000+ and read our two-minute Climate CEOs newsletter:→ entrepreneursforimpact.substack.com/My 100 rules for living the good life (that I keep breaking)→ https://entrepreneursforimpact.substack.com/p/100-rules-i-try-to-live-by-and-oftenListen to similar Climate CEOs podcast episodes:→ The $8B Utility Blind Spot: From Helicopters to AI | Overstoryhttps://podcasts.apple.com/us/podcast/the-%248b-utility-blind-spot-from-helicopters-to-ai-overstory/id1561411048?i=1000761375819→ Climate AI: TIME’s Best Invention + First Prediction Engine for Earth | Bellwetherhttps://podcasts.apple.com/us/podcast/climate-ai-times-best-invention-first-prediction-engine/id1561411048?i=1000694819077→ AI for Energy Regulation: VC-Backed + Tech for Open Data | HDatahttps://podcasts.apple.com/us/podcast/ai-for-energy-regulation-vc-backed-tech-for-open-data/id1561411048?i=1000675533997Help our guests and leave a rating or review on Apple or Spotify.→ Thanks in advance!Join 97,000+ and take my course, Renewable Energy & Green Building Entrepreneurship:→ coursera.org/learn/renewable-energy-entrepreneurship

20 recent climate, industrial, and energy tech fundraises teach us new lessons: Sell into AI infrastructure, national security, resource scarcity, and hard economics. Climate impact can still be enormous. But for now, it might belong in the appendices.Seven things you’ll learn in this episode:AI is creating a second climate capital market. Data centers need enormous amounts of power, creating new customers and capital for energy technologies.National security can unlock climate technologies. Resilient energy, domestic manufacturing, batteries, nuclear, and critical minerals increasingly have strategic value beyond carbon.Scarcity may be more investable than substitution. Solving shortages in power, copper, lithium, and infrastructure can be easier than convincing customers to buy a new green alternative.Cost parity is now the floor. Investors increasingly expect climate technologies to compete without relying on customers paying a green premium.Climate companies can tap non-climate budgets. AI, defense, manufacturing, and infrastructure spending can create much larger pools of capital.Bottlenecks create businesses. The companies removing constraints around power, minerals, manufacturing, and infrastructure may capture disproportionate value.The strongest climate thesis may survive without climate. Customers can buy for cost, reliability, security, or scarcity while emissions reductions become the consequence rather than the pitch.Read more:https://entrepreneursforimpact.substack.com/publish/post/211462467--More stuff:Join our private CEO peer group in energy, infrastructure, industrial tech, and climate tech: → ⁠⁠⁠entrepreneursforimpact.com⁠⁠⁠ Join 40,000+ and read our free Climate CEOs newsletter: → ⁠⁠⁠entrepreneursforimpact.substack.com⁠⁠My 100 rules for living the good life (that I keep breaking)→ https://entrepreneursforimpact.substack.com/p/100-rules-i-try-to-live-by-and-oftenListen to related Climate CEOs podcast episodes:→ The Climate Investments Unlocking the Next 100 Projects:https://podcasts.apple.com/us/podcast/the-climate-investments-unlocking-the-next-100-projects/id1561411048?i=1000792745961→ Can AI Find the Next Billion-Dollar Lithium Deposit? | Atana Elements:https://podcasts.apple.com/us/podcast/climate-ceos/id1561411048→ Critical Minerals: $20M for AI-Driven Mining in Nickel, Lithium & Silver Discoveries:https://podcasts.apple.com/us/podcast/critical-minerals-%2420m-for-ai-driven-mining-in-nickel/id1561411048?i=1000703979931Help our podcast guests and leave a rating or review on Apple or Spotify. → Thanks in advance! Join 97,000+ and take my (possibly free) course, Renewable Energy & Green Building Entrepreneurship: → ⁠⁠⁠coursera.org/learn/renewable-energy-entrepreneurship⁠

Your CRM probably contains millions of dollars in imaginary revenue.Climate tech and energy startups often mistake customer interest for buying intent. “Really interesting” and “this fits our decarbonization strategy” feel good, but they don’t pay the bills. This episode applies lessons from The Mom Test to help founders separate compliments (like your mom would make) from real demand and build an evidence-based pipeline, not an optimistic one.Seven things you’ll learn in this episode:Interest isn’t intent. A compliment from a prospect is not evidence of demand.Diagnose before you pitch. Spend more of the first meeting understanding the customer’s problem than explaining your technology.Quantify the pain. If the customer can’t put a dollar value on the problem, solving it may not be urgent.Find the budget. Innovation teams may love your technology without having authority or money to buy it.Identify the real buyer. Learn who controls the budget and who ultimately signs off.Demand commitment. A credible opportunity should produce a concrete next step, not another “let’s stay in touch.”Audit your pipeline ruthlessly. Revenue forecasts built on enthusiasm instead of budget, authority, urgency, and commitment are mostly fiction.Read more:https://entrepreneursforimpact.substack.com/p/the-sales-mistake-that-kills-climate--More stuff:Join our private CEO peer group in energy, infrastructure, industrial tech, and climate tech: → ⁠⁠⁠entrepreneursforimpact.com⁠⁠⁠ Join 40,000+ and read our free Climate CEOs newsletter: → ⁠⁠⁠entrepreneursforimpact.substack.com⁠⁠My 100 rules for living the good life (that I keep breaking)→ https://entrepreneursforimpact.substack.com/p/100-rules-i-try-to-live-by-and-oftenListen to similar Climate CEOs podcast episodes:→ The $1.5 Billion Solar Heat Project Replacing Fossil Fuels | GlassPoint: https://podcasts.apple.com/us/podcast/the-%241-5-billion-solar-heat-project-replacing-fossil/id1561411048?i=1000797249318→ The $440M Bet to Reinvent Climate Innovation | NY Climate Exchange: https://podcasts.apple.com/us/podcast/the-%24440m-bet-to-reinvent-climate-innovation-ny/id1561411048?i=1000796086419→ "Give First" Mindset: VC Investor Lessons That Catalyzed 4,500+ Startups | Brad Feld: https://podcasts.apple.com/us/podcast/give-first-mindset-vc-investor-lessons-that-catalyzed/id1561411048?i=1000722651181Help our podcast guests and leave a rating or review on Apple or Spotify. → Thanks in advance! Join 97,000+ and take my (possibly free) course, Renewable Energy & Green Building Entrepreneurship: → ⁠⁠⁠coursera.org/learn/renewable-energy-entrepreneurship⁠

What if AI could find billion-dollar critical mineral deposits hiding in forgotten geological data?Atana combines oil-and-gas geology, proprietary datasets, and AI to discover and de-risk lithium and other critical mineral resources faster.Company bio:Atana uses AI, data science, and subsurface expertise to discover and de-risk overlooked critical mineral deposits. The company has secured 1.5 million acres of mineral rights and is initially focused on lithium, with plans to expand into other critical minerals.Guest bio:Tom Wilson is CEO of Atana and previously helped scale direct lithium extraction company Lilac Solutions through its Series C. His background spans oil and gas, geology, critical minerals, technology, and project development.Seven things you’ll learn in this episode:Borrow from adjacent industries. Proven oil-and-gas tools can transform mining.Proprietary data can be the real AI moat. Models improve quickly; unique datasets are harder to replicate.Look for stranded assets. New technology can make overlooked resources valuable.Own the upside. Atana secures mineral rights instead of merely selling technology.De-risk, then sell. Match each project stage with the right cost of capital.Make good decisions quickly. Speed often beats waiting for perfection.Do 10% more. Small extra efforts compound across work and life.--More stuff:Join our private CEO peer group in energy, infrastructure, industrial tech, and climate tech: → ⁠⁠⁠entrepreneursforimpact.com⁠⁠⁠ Join 40,000+ and read our free Climate CEOs newsletter: → ⁠⁠⁠entrepreneursforimpact.substack.com⁠⁠My 100 rules for living the good life (that I keep breaking)→ https://entrepreneursforimpact.substack.com/p/100-rules-i-try-to-live-by-and-oftenListen to similar Climate CEOs podcast episodes:→ Critical Minerals: $20M for AI-Driven Mining in Nickel, Lithium & Silver Discoveries | Earth AI https://podcasts.apple.com/us/podcast/critical-minerals-%2420m-for-ai-driven-mining-in-nickel/id1561411048?i=1000703979931→ Lithium Extraction: 40% Lower Costs with Electrochemistry | Lithios:⁠⁠ https://podcasts.apple.com/us/podcast/a-new-way-to-extract-lithium-from-americas-hardest/id1561411048?i=1000754012245→ Sustainable Mining: Microbes Extract Copper & Lithium | Endolith:⁠⁠ https://podcasts.apple.com/us/podcast/sustainable-mining-microbes-extract-copper-lithium/id1561411048?i=1000711847281Help our podcast guests and leave a rating or review on Apple or Spotify. → Thanks in advance! Join 97,000+ and take my (possibly free) course, Renewable Energy & Green Building Entrepreneurship: → ⁠⁠⁠coursera.org/learn/renewable-energy-entrepreneurship⁠

Industrial heat consumes more energy globally than electricity, yet it remains one of the hardest parts of the economy to decarbonize.GlassPoint has spent nearly two decades figuring out how to make solar heat cheaper than burning fossil fuels at industrial scale.Company bio:GlassPoint is an industrial heat company using concentrated solar thermal technology and molten-salt storage to deliver low-cost, 24/7 process heat. Its projects serve energy-intensive industries including aluminum, mining, ethanol, pulp and paper, and oil and gas, with projects ranging from hundreds of megawatts to gigawatt scale.Guest bio:Rod MacGregor is the founder and CEO of GlassPoint and a five-time venture-backed entrepreneur with an IPO among his previous companies. He founded GlassPoint to tackle industrial heat, which accounts for roughly 26% of global energy use.Seven things you’ll learn in this episode:Why industrial heat is not “hard to abate” so much as “too cheap to abate.”Why customers buy decarbonization technology for economics and energy security, not primarily climate.How putting giant solar mirrors inside greenhouses dramatically reduced GlassPoint’s capital and operating costs.Why combining mature technologies can be more powerful than inventing everything from scratch.How GlassPoint stores solar heat in molten salt to supply industrial steam day and night.Why startups should dominate one application and industry before expanding into adjacent markets.Why entering Middle Eastern markets requires years of local presence and relationship building, not fly-in sales.--More stuff:Join our private CEO peer group in energy, infrastructure, industrial tech, and climate tech: → ⁠⁠entrepreneursforimpact.com⁠⁠ Join 40,000+ and read our free Climate CEOs newsletter: → ⁠⁠entrepreneursforimpact.substack.com⁠My 100 rules for living the good life (that I keep breaking)→ https://entrepreneursforimpact.substack.com/p/100-rules-i-try-to-live-by-and-oftenListen to similar Climate CEOs podcast episodes:→ The Climate Investments Unlocking the Next 100 Projects: ⁠https://podcasts.apple.com/us/podcast/the-climate-investments-unlocking-the-next-100-projects/id1561411048?i=1000792745961⁠→ 7 Lessons for Hard-Tech Startups | Vanessa Chan (Time100 List):⁠https://podcasts.apple.com/us/podcast/7-lessons-for-hard-tech-startups-vanessa-chan-time100-list/id1561411048?i=1000791062281⁠→ The Climate Tech Map: Where Capital and Innovation Are Still Missing | Speed & Scale, Doerr Capital:⁠https://podcasts.apple.com/us/podcast/the-climate-tech-map-where-capital-and-innovation/id1561411048?i=1000787128813⁠ Help our podcast guests and leave a rating or review on Apple or Spotify. → Thanks in advance! Join 97,000+ and take my (possibly free) course, Renewable Energy & Green Building Entrepreneurship: → ⁠⁠coursera.org/learn/renewable-energy-entrepreneurship⁠

Climate change may be one of the biggest forces reshaping the global economy, yet we still treat climate collaboration like a pop-up event. The New York Climate Exchange wants to change that with a $440M first phase on Governors Island that brings business, universities, government, and innovators together year-round.Guest bio:Sanjayan Muttulingam is CEO of the New York Climate Exchange and former CEO of Conservation International. A scientist, conservation leader, and former CBS News contributor, he has spent his career connecting climate science, capital, business, and public engagement.Company summary:The New York Climate Exchange is building a global climate hub on Governors Island, minutes from Wall Street. Its planned mass-timber, geothermal, and solar-powered campus will combine research, education, workforce development, business collaboration, and convening space, with ambitions to eventually inspire similar exchanges in cities worldwide.—Seven things you’ll learn in this episode:1. Build for permanent problems. Don’t treat enduring challenges like pop-ups.2. Sell opportunity, not fear. Customers need a reason to want the future.3. Make the economics work. Impact without profitability won’t scale.4. Execution beats commitments. Ambition is easy; delivery is hard.5. Ask for help. Do your homework first, then make the ask.6. Protect your top three. Let lesser priorities fall off the list.7. Think in decades. Build around forces that outlast short-term cycles.—Four more things:Join our private CEO peer group in energy, infrastructure, industrial tech, and climate tech: → ⁠entrepreneursforimpact.com⁠Join 40,000+ and read our free Climate CEOs newsletter:→ ⁠entrepreneursforimpact.substack.comMy 100 rules for living the good life (that I keep breaking)→ https://entrepreneursforimpact.substack.com/p/100-rules-i-try-to-live-by-and-often⁠Help our podcast guests and leave a rating or review on Apple or Spotify.→ Thanks in advance!Join 97,000+ and take my course, Renewable Energy & Green Building Entrepreneurship:→ ⁠coursera.org/learn/renewable-energy-entrepreneurship

Today I’m sharing a conversation where the tables are turned: I was a guest on the Supercool podcast with my friend Josh Dorfman, the cofounder of climate tech startup Plantd.We get into:Why I built Entrepreneurs for Impact, and what I’ve learned from working closely with 45 investor-backed CEOs.What climate and energy CEOs are struggling with right now, from fundraising and customers to hiring and scaling.Why the leadership style that gets a company started often won’t get it through the next stage.What I learned from moving between environmental science, private equity, entrepreneurship, and teaching at Duke and UNC.How 25+ years of meditation has changed the way I think about ambition, stress, leadership, and performance.And why did I create a cartoon version of my photo for this episode? I don't really know.Check out more episodes with Josh at Supercool:https://podcasts.apple.com/us/podcast/supercool/id1758404839--Extra stuffJoin our private CEO peer group in energy, infrastructure, industrial tech, and climate tech: → entrepreneursforimpact.comJoin 40,000+ and read our free Climate CEOs newsletter:→ entrepreneursforimpact.substack.comMy 100 rules for living the good life (that I keep breaking)→ https://entrepreneursforimpact.substack.com/p/100-rules-i-try-to-live-by-and-oftenHelp our podcast guests and leave a rating or review on Apple or Spotify.→ Thanks in advance!Join 97,000+ and take my course, Renewable Energy & Green Building Entrepreneurship:→ coursera.org/learn/renewable-energy-entrepreneurship

Most climate investors ask which project offers the best return. A better question: Which investment makes the next 100 projects easier, cheaper, and faster?This episode explores the Transition Acceleration Framework developed by CalSTRS, Generate Capital, and Rhodium Group, and why catalytic capital can have an impact far beyond a single project.Seven things you’ll learn in this episode:Why the best climate investment may be the one that unlocks the next 100 projects.How catalytic capital can lower costs and risks for future projects.Why first-of-a-kind projects often fall between venture capital and infrastructure finance.How early projects can build supply chains, workforce, permitting pathways, and customer confidence.Why different stages of commercialization require different types of capital.How investors can measure impact beyond the emissions reduced by a single project.Why the biggest opportunity may be funding the transition from 0 → 1, so conventional capital can fund 1 → n.Read more here:https://entrepreneursforimpact.substack.com/p/where-does-the-next-climate-dollar--Are you a VC- or PE-backed CEO building in energy, infrastructure, or climate tech?Join 50 CEOs, plus 50 investors and post-exit founders, who help each other make better decisions on capital, strategy, scaling, and leadership.See if the CEO community is a fit → entrepreneursforimpact.comGet smarter on energy, infrastructure, and climate tech in 2 minutes.Join 40,000+ professionals getting practical insights on startups, investing, commercialization, strategy, and leadership.Get the free newsletter → entrepreneursforimpact.substack.comHelp more people find this podcast.If this episode was useful, take 20 seconds to follow the show or leave a rating on Apple Podcasts or Spotify. It helps bring these conversations to more entrepreneurs, investors, and executives.

Roughly 70% of U.S. substations were built before modern digital technology. Now AI, renewables, batteries, and EVs are forcing a century-old grid to become something fundamentally different.Company bio:NovaTech Automation provides automation, monitoring, and control technology for electric utilities, with equipment in roughly 25% of U.S. substations. Founded in 1979, the family-owned company helps utilities modernize aging infrastructure while integrating increasingly complex power sources and loads.Guest bio:Conrad Oakey is CEO of NovaTech Automation and the second generation to lead the 45-year-old company. A Duke MBA, he has helped expand the business while navigating utility sales, acquisitions, succession, and technological change.Seven things you’ll learn in this episode:Why the grid must shift from “plan and predict” to “sense and respond.”Why 4% power-demand growth changes the economics of grid innovation.How to sell new technology into deeply risk-averse utilities.Why customer pull matters more than technically elegant innovation.How a $10K product can expand into a $100K integrated solution.Why buying an established business can beat starting from zero.Why NovaTech kills roughly 98 of every 100 product ideas.--Are you a VC- or PE-backed CEO building in energy, infrastructure, or climate tech?Join 45 CEOs and 45 investors and post-exit founders who help each other make better decisions on capital, strategy, scaling, and leadership.See if the CEO community is a fit → entrepreneursforimpact.comGet smarter on energy, infrastructure, and climate tech in 2 minutes.Join 40,000+ professionals getting practical insights on startups, investing, commercialization, strategy, and leadership.Get the free newsletter → entrepreneursforimpact.substack.comHelp more people find this podcast.If this episode was useful, take 20 seconds to follow the show or leave a rating on Apple Podcasts or Spotify. It helps bring these conversations to more entrepreneurs, investors, and executives.