Inevitable

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Startup Series: Recurrent Apr 27, 2023

Show notes

Scott Case is the CEO and Co-Founder at Recurrent, which provides EV battery reports for used EVs, helping consumers and dealers understand the residual health of the battery in a prospective purchase. Think of them as a Carfax report for EVs.

New EV sales have boomed since the launch of the Tesla Model 3 in 2018. A year later, roughly 1% of new sales in the US were EVs. And in 2022, that number had increased to over 5%. The used EV market therefore logically will follow a similar trajectory, with a 3-4 year delay.

In this discussion, Scott points out that a car can only be sold new one time but can be sold used many times over. Most of us have no experience buying a used EV because there just hasn’t been enough inventory. As that changes, so too will our used car buying experience. And when it comes to which factors to pay attention to, the battery's health rises to the top of the list.

Scott and Cody have a great conversation about what impacts an EV battery’s health, how Recurrent gets the data to make health assessments, how Scott sees the used EV market evolving, and even what make/model EV he drives. It’s a jam-packed episode with information that’s sure to be personally relevant to many of us in the coming months and years ahead.

In this episode, we cover:

[3:02] Scott's background and how he got started in the used EV market
[9:25] How Recurrent came to be
[13:51] The early days of figuring out the company's approach and business model
[17:54] An overview of the used EV market
[19:97] How to determine the quality of a used EV battery
[20:24] Recurrent's solution and battery assessment process
[24:49] Battery issues associated with EVs and environmental factors that influence performance
[30:11] Battery quality and price discrimination for used EVs
[32:48] Recent volatility and future market predictions
[35:19] How Recurrent's business model is adjusting and its plans for growth
[40:19] The dealer's role in EV sales
[44:45] Recurrent's progress to date and what's ahead

Get connected:
Cody Simms
Scott Case / Recurrent
MCJ Collective

*You can also reach us via email at info@mcjcollective.com, where we encourage you to share your feedback on episodes and suggestions for future topics or guests.

Episode recorded on April 21, 2023.

Enjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@ovr.vc.

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*Editing and post-production work for this episode was provided by The Podcast Consultant

Capital Series: Mark Robinson, WAVE Equity Partners Apr 26, 2023

Show notes

This episode is part of our new Capital Series hosted by MCJ partner, Jason Jacobs. This series will explore a diverse range of capital sources and the individuals who drive them. From family offices and institutional LPs to private equity, government funding, and more, we'll take a deep dive into the world of capital and its critical role in driving innovation and progress.

Today’s guest is Mark Robinson, Founder and Managing Director at WAVE Equity Partners, an impact investing firm that seeks to maximize returns for investors, growth for portfolio companies, and impact for all. WAVE achieves this goal by investing in sustainability innovators that tackle our greatest environmental challenges on a global scale.

Jason and Mark discuss the origins of WAVE, the timing of its launch, and some of the key lessons that Mark learned from Clean Tech 1.0. They also delve into why WAVE took a contrarian bet when it started and how its approach differs from other firms. Mark explains the company's investment stage, check size, sector focus, diligence process, and value-add post-investment. The episode also covers the industrial market landscape, where WAVE spends a lot of time. Jason and Mark explore various topics such as the ecosystem of founders, the regulatory and policy landscape, and the current capital environment.

In this episode, we cover:

An overview of WAVE Equity Partners
The firm's origin story and path to focusing on clean energy, food, water, waste and recycling
Early fundraising challenges for industrial solutions
Key lessons from Clean Tech 1.0
Changes in the ecosystem since WAVE got started and how the firm addressed them
What gets Mark up every day and the underlying decision to start the firm
The firm's investor makeup and LP shifts over time
WAVE's fund structure
Non-starters and the types of risk WAVE is comfortable taking
The balance of fundraising vs domain expertise when building a company
The role of the regulatory landscape and government funding when making investment decisions
WAVE's 6-month or longer diligence process
The firm's approach to defining and measuring impact
Mark's thoughts on doing things cleaner vs. reforming entire systems
The role of government support
Mark's wishlist for the future of the industrials market

Get connected:
Jason Jacobs
Mark Robinson / WAVE Equity Partners
MCJ Podcast / Collective

*You can also reach us via email at info@mcjcollective.com, where we encourage you to share your feedback on episodes and suggestions for future topics or guests.

Episode recorded on March 7, 2023.

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*Editing and post-production work for this episode was provided by The Podcast Consultant

Skilled Labor Series: Concrete Making with Alana Guzzetta Apr 24, 2023

Show notes

This episode is part of our Skilled Labor Series hosted by MCJ partner, Yin Lu. This series is focused on amplifying the voices of folks from the skilled labor workforce, including electricians, farmers, ranchers, HVAC installers, and others who are on the front lines of rewiring our infrastructure.

Today’s guest on Yin Lu’s Skilled Labor Series is Alana Guzzetta, a 15-year veteran of the concrete-making business. Alana started as an intern, worked her way up to being a lab technician, and now runs the R&D lab at Vulcan Materials. She has both a bachelor's and master's of civil engineering.

In this episode, Yin and Alana delve into the history of cement and how new technologies are disrupting an industry that dates back to the fourth century BC. They also discuss the environmental impact of cement, which is responsible for approximately 7% of total global CO2 emissions, a staggering number that highlights the significance of concrete as a material in the world and its carbon footprint.

Alana shares her insights on the latest innovations in concrete-making, including the use of alternative materials and carbon capture technologies. She also sheds light on the crucial role that research and development play in the industry, and what her job as an R&D lab manager at Vulcan Materials entails.

In this episode, we cover:

[3:06] Alana's academic journey getting into the concrete industry
[7:32] The difference between cement and concrete
[8:57] An overview of concrete and supplementary cementitious materials
[11:22] The carbon-intensive cement-making process
[17:53] Alana's role managing the concrete lab at Vulcan Materials
[19:30] An overview of Vulcan Materials
[23:29] A few example projects Alana has worked on with architects and startups
[25:00] What success looks like for Alana and her team
[29:38] Her experience working with CarbonCure
[32:04] A direct air capture project with Heirloom
[35:54] New technology in the cement industry including zero carbon cement and utilizing waste products
[41:07] Advice for people interested in working in the concrete industry

Get connected:
Yin Twitter / LinkedIn
Alana Guzzetta / Vulcan Materials
MCJ Podcast / Collective

*You can also reach us via email at info@mcjcollective.com, where we encourage you to share your feedback on episodes and suggestions for future topics or guests.

Episode recorded on March 8, 2023.

Enjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@ovr.vc.

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*Editing and post-production work for this episode was provided by The Podcast Consultant

Startup Series: MineSense Apr 20, 2023

Show notes

Today's guest is Jeff More, President and CEO of MineSense.

MineSense provides real-time, sensor-based ore sorting and data analytics for mines. The company recently announced a $42 million Series E round led by JP Morgan's sustainable Growth Equity Group. MineSense technology platform includes a set of sensors that go into a shovel bucket, and at the moment of extraction, help identify the makeup of ore and rock with each new scoop. This helps mines reduce the amount of low-quality rock sent to milling and processing, which also helps mining operations use less power and water.

Jeff and Cody dive into the state of mining today, MineSense's technology and how it's increasing efficiency. They also cover the company’s business model, and the adoption curves of software in the mining industry generally. And lastly, they talk about how mining is changing and how sustainability and climate factor into purchasing decisions around innovation. We've had a number of conversations on the pod recently about the state of metal supply chains, metal recycling, and related topics. But this is an excellent primer for how mining works generally and how MineSense is helping to drive optimizations into processes that have been in place for decades.

In this episode, we cover:

Jeff's background
The state of mining today and its challenges
Site selection and permitting process
The logistics behind setting up a new mine and long-term plan
What happens to waste
Environmental impact of the mining process
An overview of MineSense
The company's hardware and software
MineSense's focus on copper and other base metals
The company's value proposition of increased profits and sustainability
MineSense's business model
Jeff's predictions for the future of the mining industry
Advice for founders/CEOs as they navigate their go to market
MineSense's funding to date and how the business plans to capitalize moving forward

Get connected:
Cody Simms
Jeff More / MineSense
MCJ Podcast / Collective

*You can also reach us via email at info@mcjcollective.com, where we encourage you to share your feedback on episodes and suggestions for future topics or guests.

Episode recorded on March 20, 2023.

Enjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@ovr.vc.

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*Editing and post-production work for this episode was provided by The Podcast Consultant

Capital Series: Grant Mulligan, AlTi Apr 19, 2023

Show notes

Today’s guest is Grant Mulligan, a Vice President at Alvarium Tiedemann (AlTi).

AlTi is a global wealth and asset manager that's in the business of turning powerful ideas into high-performing strategies and solutions. Whether they are individuals or institutions, foundations, or family-led businesses, AlTi offers its clients a connected ecosystem of advice, solutions, and investment opportunities from across their global network.

As an institutional investor, AlTi is serious about impact. And Grant focuses specifically on the firm’s net-zero strategies and nature-based solutions. This conversation takes a fascinating dive into their approach, their origin story, how they measure impact, and how they allocate capital across many different asset classes. We also discuss the types of clients who prioritize impact investing and how this landscape is evolving over the past few years and into the future. Tune in to learn more about AlTi's mission to create enduring value.

In this episode, we cover:

[3:00] An overview of Alvarium Tiedemann (AlTi) and where Grant sits in the firm
[7:12] The role of impact in AlTi's clients' decision making
[12:23] Grant's theory of change and work in wildlife biology
[17:56] What inspired him to transition upstream and join AlTi's mission
[20:45] A deep dive into the forthcoming wealth transfer
[25:21] How AlTi structures capital allocation
[29:39] AlTi's theory of change for overall climate sustainability, decarbonization tech, and nature-based solutions
[33:45] The role of changing perspectives on impact and asset allocation as a result of recent market fluctuations
[39:26] AlTi’s impact assessment process
[44:45] How Grant balances servicing existing client demand vs generating new demand
[53:34] The role of client recommendations in deploying capital
[57:12] Grant's thoughts on what's missing in impact investments
[1:00:37] Where philanthropic capital fits in

Get connected:
Jason Jacobs
Grant Mulligan / Alvarium Tiedemann
MCJ Podcast / Collective

*You can also reach us via email at info@mcjcollective.com, where we encourage you to share your feedback on episodes and suggestions for future topics or guests.

Episode recorded on March 8, 2023.

Enjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@ovr.vc.

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*Editing and post-production work for this episode was provided by The Podcast Consultant

Lucy Piper, WorkforClimate Apr 17, 2023

Show notes

Today's guest is Lucy Piper, Director at WorkForClimate.

WorkForClimate is a not-for-profit that provides individual employees with clear step-by-step playbooks to help influence and accelerate a company's decarbonization initiatives. Lucy and Cody discuss how climate change can be an intimidating topic and pushing for change inside your company can be risky. And yet it's clear that if the world's corporations don't change quickly to reduce emissions, the effects will be worse.

So how do we quickly help employees feel educated and empowered to push for change? WorkForClimate solution comes from its playbooks and programs. They've identified four key areas of change that employees can impact: energy, emissions, money, and influence. Lucy and Cody chat about each of these, why they matter, and some of the steps that WorkForClimate recommends employees take to maximize their collective influence. And one thing that isn’t covered, but nonetheless important is that when we take personal agency around climate change, it inspires more people to do the same, encouraging more and more. As organizations realize that these well-informed asks aren't coming from some radical minority, but rather from a significant amount of their employee base, that's ultimately what drives change.

In this episode, we cover:

[4:22] Lucy's climate journey
[7:39] Employees as influential stakeholders to drive climate initiatives within corporations
[12:45] The power of strength in numbers despite risks
[14:44] An overview of green teams
[15:57] How formally organized groups and sustainability professionals factor into WorkforClimate's playbook
[18:00] The areas WorkforClimate focuses on, including energy, emissions, money, and advocacy
[23:04] The issue of greenwashing
[25:46] An overview of WorkforClimate's playbooks
[29:12] Pros and cons employees have to grapple with to inspire corporate action
[33:00] WorkforClimate's emissions framework
[40:05] The type of companies best suited to collaborate with WorkforClimate
[47:15] The money category WorkforClimate addresses, including bank accounts, treasury, and retirement funds
[54:28] The role of corporate influence on policy

Get connected:
Cody Simms
Lucy Piper / WorkforClimate
MCJ Podcast / Collective

*You can also reach us via email at info@mcjcollective.com, where we encourage you to share your feedback on episodes and suggestions for future topics or guests.

Episode recorded on March 22, 2023.

Enjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@ovr.vc.

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*Editing and post-production work for this episode was provided by The Podcast Consultant

Startup Series: Syzygy Plasmonics Apr 13, 2023

Show notes

Today's guest is Trevor Best, CEO and Co-founder at Syzygy Plasmonics. Syzygy is rethinking how chemicals are produced and pioneering a new technology that energizes chemical reactions via light. Their photocatalyst technology came out of the lab at Rice University. Toward the end of 2022, the company announced a $76 million Series C financing led by Carbon Direct Capital and a number of significant strategies in the energy, oil and gas, and automotive sectors.

During the episode, Trevor and Cody delve into various topics, including Trevor's background, traditional petrochemical methods of chemical production, and the fortuitous discovery that led him and his co-founder to commercialize their cutting-edge technology at Syzygy. The discussion also covers the various chemical pathways that Syzygy is currently pursuing, such as zero-emissions hydrogen, low-emissions hydrogen, syngas, and methanol.

In this episode, we cover:

[2:46] Trevor's background and Syzygy's origin story
[7:37] The relationship between fossil fuels and the chemical industry
[9:48] Other emerging alternatives in the space
[11:39] Origins of Syzygy's photochemistry technology and its implications
[20:59] Syzygy's decision to focus on hydrogen pathways
[24:32] An overview of dry reforming
[27:40] The company's business model
[30:14] Sygyzy's scale-up progress and plans for the future
[36:47] How Syzygy balances adding new capabilities to its reactors
[42:09] Trevor's thoughts on the future and where Syzygy needs help

Get connected:
Cody Simms
Trevor Best / Syzygy
MCJ Podcast / Collective

*You can also reach us via email at info@mcjcollective.com, where we encourage you to share your feedback on episodes and suggestions for future topics or guests.

Episode recorded on March 6, 2023.

Enjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@ovr.vc.

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*Editing and post-production work for this episode was provided by The Podcast Consultant

Capital Series: Jacqueline van den Ende, Carbon Equity Apr 12, 2023

Show notes

This episode is part of our new Capital Series hosted by MCJ partner, Jason Jacobs. This series will explore a diverse range of capital sources and the individuals who drive them. From family offices and institutional LPs to private equity, government funding, and more, we'll take a deep dive into the world of capital and the critical role it plays in driving innovation and progress.

Today’s guest is Jacqueline van den Ende, founder and CEO of Carbon Equity.

Carbon Equity pools capital to provide individuals with access to world-class private equity funds, while their team of experts handle the research, management, and investment work. Their approach allows investors to build a diversified portfolio of climate startups and scaleups.

In this episode, Jacqueline and Jason delve into Carbon Equity's origin story, their unique approach, and what sets them apart in the industry. They discuss the firm's journey so far, the challenges they've encountered, and the exciting trends that they believe will drive progress in the field. They also examine how Carbon Equity fits into the broader climate capital stack, as more funds and limited partners enter the space.

In this episode, we cover:

[2:20] An overview of Carbon Equity
[4:41] How Jacqueline's original idea for climate investing came about
[9:19] Carbon Equity's focus on the mass affluent market today
[13:55] How they raised early funds and who they targeted
[17:50] Differences between US vs Europe investor limitations
[21:27] Carbon Equity's diligence process
[28:12] The firm as a diversification provider
[30:57] Jacqueline's thoughts on sector expertise and mission alignment
[35:25] Carbon Equity's milestones since January 2021
[39:59] The firm's plans for thematic funds
[46:02] Some of Jacqueline's key learnings from her journey and the difficult questions she's asking
[50:31] An overview of MCJ's journey and funding progress to date
[53:22] Who Jacqueline wants to work with and her parting words, including job opportunities with Carbon Equity

Get connected:
Jason Jacobs
Jacqueline van den Ende
MCJ Podcast / Collective

*You can also reach us via email at info@mcjcollective.com, where we encourage you to share your feedback on episodes and suggestions for future topics or guests.

Episode recorded on March 23, 2023.

Enjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@ovr.vc.

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*Editing and post-production work for this episode was provided by The Podcast Consultant

Will Steger, Polar Explorer Apr 10, 2023

Show notes

Today's guest is Will Steger, an educator, activist, photographer, and polar explorer. Will is a prominent spokesperson for the preservation and understanding of the Arctic and is the creator of the Will Steger Foundation, which exists to educate and empower people to engage in solutions to climate change.

Will was the fourth person ever to have reached both Earth's poles. He led the first confirmed dogsled journey to the North Pole in 1986. In 1989 and 1990, he led the first dogsled traverse of Antarctica, a 3,471-mile journey, to raise awareness of the need for international cooperation to ban mining and oil exploration in Antarctica. This journey became a worldwide media phenomenon, leading to meetings with multiple global heads of state.

Will and Cody talk about how he built and leveraged his platform, the current priorities of his foundation, his childhood, how he started exploring, and how he's seen the world change in his lifetime, both physically and in terms of the understanding of and support for climate action. Lastly, they talk about survival, how Will manages to do it in the bleakest moments of an expedition, and how he thinks humans will do it in the face of climate change.

In this episode, we cover:

[2:15] Will's early expedition to Antarctica which gained global recognition in 1986
[7:45] An overview of the Antarctic Treaty and Will's experience with diplomacy and building awareness and cooperation among global leaders
[10:15] Reflections on his first trip to the Antarctic and landing on the Larsen A Ice Shelf
[12:40] An overview of the Will Steger Foundation
[15:58] His work to bring climate into school curriculums and the shifting youth attitudes toward the topic
[20:58] Will's upbringing and early interest in exploration
[26:40] How he got involved with dogsledding and an overview of working with dogs
[29:30] Will's first journey to the North Pole in 1986
[33:16] An overview of Will's new Steger Center for Innovation and Leadership
[34:28] Observations that have been most effective in helping people understand the implications of climate change
[42:14] How to follow Will's travels at https://stegercenter.org/

Get connected:
Cody Simms
Will Steger
MCJ Podcast / Collective

*You can also reach us via email at info@mcjcollective.com, where we encourage you to share your feedback on episodes and suggestions for future topics or guests.

Episode recorded on March 13, 2023.

Enjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@ovr.vc.

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*Editing and post-production work for this episode was provided by The Podcast Consultant

Skilled Labor Series: Recycling with Dylan Welch Apr 06, 2023

Show notes

Today's guest is Dylan Welch, Plant Manager at AMP Robotics.

Dylan grew up in the foothills of California and Arizona, before going to school in Colorado. He’s had quite a non-linear career path. Dylan started his career building custom motorcycles out of his garage and then became a carpenter and subcontractor, before joining the team at AMP Robotics, where he oversees facility operations. AMP Robotics develops and deploys AI and robotics technology that enables a recycling facility to drive efficiencies across its sorting process, lower the cost of its operations, and produce higher-value commodities. As proud investors of AMP Robotics via our MCJ venture funds, we’ve excited to share yet another perspective from the company and learn about Dylan’s personal journey. In this episode, we learn a lot from Dylan the recycling industry, and how Dylan applied his interest towards a career addressing the waste problem.

In this episode, we cover:

Dylan's early interest in machinery and his professional background
His career path as a carpenter, contractor, and running a recycling plant
An overview of AMP Robotics and how Dylan landed his current role
A deep dive into recycling and its shortcomings
Dylan's day-to-day experience running a secondary MRF (materials recovery facility)
How he interacts with folks outside of the plant
Dylan's perspectives on how automation can close the staffing gap in the recycling industry
How Dylan combined his personal interests with his role at AMP Robotics
Advice for people interested in learning how systems work but aren’t sure where to start

Get connected:
Yin Twitter / LinkedIn
AMP Robotics
MCJ Podcast / Collective

*You can also reach us via email at info@mcjcollective.com, where we encourage you to share your feedback on episodes and suggestions for future topics or guests.

Episode recorded on January 11, 2023.

Enjoyed this episode? Please leave us a review! Share feedback or suggest future topics and guests at info@ovr.vc.

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*Editing and post-production work for this episode was provided by The Podcast Consultant

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