The ZENERGY Podcast: Energy Leadership, Finance, and Technology

Climate change is driven by emissions from various human activities such as burning fossil fuels, manufacturing cement and steel, plowing soils, and clearing forests. These actions release carbon dioxide, methane, nitrous oxide, and fluorinated gasses into the atmosphere, which trap heat and contribute to global warming. Methane, particularly from cattle, rice fields, landfills, and fossil fuel operations, is a potent greenhouse gas that accelerates climate change. In addition to human activities, emissions also come from agricultural lands, industrial sites, and urban areas.

While much of these greenhouse gasses remain in the atmosphere, nature plays a crucial role in mitigating their impact. Natural processes like photosynthesis act as "sinks," absorbing and storing carbon in plants, soil, and oceans. Though significant amounts of emissions are absorbed by these natural reservoirs, most remain airborne, contributing to global warming. Addressing this imbalance requires enhancing the capacity of these natural sinks and reducing emissions at their source.

Jonathan Foley, Ph.D., a renowned environmental scientist, leads efforts to advance climate solutions as the Executive Director of Project Drawdown. Along with his colleagues, Project Drawdown has identified 93 technologies and practices that can significantly reduce greenhouse gas concentrations. Foley’s research has been highly influential, earning him recognition as a top global scientist in ecology and environmental science. His work has guided governments, organizations, and businesses in finding sustainable strategies to combat climate change and protect ecosystems.

[2:13] - Dr. Foley explains Project Drawdown and the mission behind their programs.

[4:06] - Using their “north star” and mission, Project Drawdown has strategies to get people excited and interested in climate action.

[7:14] - Only about 1-2% of Americans have climate solutions as their top priority.

[9:02] - Dr. Foley describes educating people about climate change in a large city versus in a rural area, and explains some surprising differences.

[12:25] - There’s no one approach or one right way to do things.

[13:43] - Meet people where they are, and with respect and humility.

[15:57] - Climate solutions not only improve the climate, but they have other domino-effect benefits like the creation of jobs.

[18:33] - Dr. Foley lists some of the practical and immediately actionable solutions he has seen recently.

[22:33] - Although new technologies can be exciting, Dr. Foley thinks that a lot of times, they are distractions from the real mission in climate action.

[25:02] - A climate solution now is more valuable than a climate solution ten years from now.

[29:03] - Policies are important, but in the United States, things have gotten sticky.

[32:43] - It’s not all doomsday. There is a lot of progress being made in climate change.

[34:46] - Dr. Foley shares some reflections of his past that may inspire others and serve as advice to those entering the field.

[40:22] - We live in the most opportunity-filled time in history. What will you do about it?

Dr. Michael E. Mann is a Presidential Distinguished Professor at the University of Pennsylvania, where he directs the Penn Center for Science, Sustainability, and the Media. He holds degrees in Physics, Applied Math, and Geology & Geophysics from UC Berkeley and Yale. His work focuses on Earth's climate system, particularly human-caused climate change, and he has played a significant role in the Intergovernmental Panel on Climate Change (IPCC) efforts.

Throughout his career, Dr. Mann has received numerous accolades, including contributing to the IPCC's 2007 Nobel Peace Prize, the Hans Oeschger Medal, and the Tyler Prize for Environmental Achievement. He is a Fellow of several scientific organizations and has authored over 200 publications and six books, including The Hockey Stick and the Climate Wars and The New Climate War.

The Department of Earth and Environmental Science at the University of Pennsylvania focuses on understanding the dynamic processes that shape the Earth and its environment. It offers a broad range of research and educational opportunities in areas such as geology, environmental science, climate change, oceanography, and paleontology. Faculty and students work collaboratively to study the Earth's systems, explore environmental challenges, and find solutions for sustainable development. The department emphasizes interdisciplinary approaches to address pressing global issues like climate change, resource management, and environmental degradation.

[2:13] - Dr. Mann shares his background and what he would be doing if he were not in the role he’s in.

[4:46] - Penn has a lot of interesting work going on and in the latest strategic vision has climate listed as number one as a situation to tackle.

[7:03] - Dr. Mann describes how he has balanced being a scientist and an advocate for climate communication in a challenging political landscape.

[9:13] - Science should be as objective as possible, especially when it comes to politics and policy.

[11:25] - We all have a right to know where presidential candidates stand when it comes to climate change.

[13:35] - Dr. Mann describes some of the challenges in communicating about climate change and where he focuses his outreach.

[17:12] - People tend to be trapped in self-reinforcing bubbles. The media is very divided.

[19:27] - There is evidence that there will be a tipping point in a majority acceptance and public support of climate change research and action.

[21:54] - Dr. Mann gives suggestions and advice to those looking to enter the field.

[24:09] - The four areas that are prioritized at Penn are Climate, Human Health, Democracy, and AI.

The Montgomery County Green Bank is a publicly chartered 501(c)3 nonprofit corporation dedicated to accelerating energy efficiency, renewable energy, and clean energy investment in Montgomery County, MD. They partner with the private sector to provide more affordable and flexible financing options for County residents and businesses for clean energy and climate-resilient projects. These projects save energy, lower greenhouse gas emissions, create healthy living and working environments, foster a more resilient economy and environment, and help the county achieve its environmental goals.

Laura Mondragon is the Director for Climate Resilience of the Montgomery County Green Bank (MCGB). She comes to the Green Bank with a professional background in international climate finance, with experience in designing, assessing, and implementing climate and sustainable finance programs with public stakeholders in emerging economies.

Prior to the MCGB, Laura worked at an international development bank supporting Public Banks in their actions transitioning to a net zero business model. She coordinated the technical assistance program related to climate risk management. She also supported the design and preparation of regional green bonds programs and worked with international climate funds and donors. Laura is from Colombia, South America and has lived in Montgomery County for 15 years.

Show Notes:

[2:56] - Laura shares her background and the differences she experienced in working on a global scale versus on local initiatives.

[4:52] - She has been able to deep dive into international issues, including Latin American countries which are very impacted by climate change.

[5:40] - Now working in Montgomery County, she gets her “hands dirty” and works on multiple facets of initiatives.

[7:20] - Although different, there are transferable skills between international and local work.

[9:53] - The Montgomery County Green Bank is the first green bank established in the United States. Laura explains funding.

[13:30] - Laura explains different partner programs and collaborations, and how to get in touch with the Montgomery County Green Bank.

[16:07] - Laura breaks down some of the goals of resiliency at the green bank, and how different partnerships are moving them forward.

[18:09] - To be able to achieve climate resiliency at a county level, they must be mindful of all stakeholders’ needs.

[20:35] - Knowledge is power for communities.

[22:05] - One major initiative is education in the community that allows small business owners and farmers access to resources that will improve their business.

[23:49] - What are some of the challenges faced in climate resilience initiatives?

[26:05] - Selling resiliency is tough because it is usually very reactive.

[28:33] - Reflecting from her experiences, Laura gives advice to those starting out.

Links and Resources:

The mission of the Maryland Public Service Commission is to ensure safe, reliable, and economic public utility and transportation service to the citizens of Maryland. Today’s guests are Chair Frederick Hoover and Commissioner Kumar Barve.

Frederick H. Hoover was appointed Chair of the Maryland Public Service Commission by Governor Wes Moore for a five-year term beginning on July 1, 2023. He most recently served as Assistant People’s Counsel in the Maryland Office of People’s Counsel, representing residential consumers of public utilities, retail energy suppliers and other entities before the Maryland Public Service Commission, courts and federal agencies. Chair Hoover served for more than seven years as director of the Maryland Energy Administration, responsible for coordinating energy policy for the state of Maryland. He subsequently held positions as director of both MEA’s Division of Energy Programs and Division of Renewable Energy. He is a former senior director of the National Association of State Energy Officials, where he directed the electricity policy program including the fuel and grid aspects of both transmission and distribution networks including modernization, renewable energy, and energy efficiency.

Kumar P. Barve was appointed to the Maryland Public Service Commission in May 2023 by Governor Wes Moore, to fill out a term ending in June 2024. He was later appointed to a new five-year term to begin July 1, 2024. Prior to his appointment, he had served in the Maryland House of Delegates since 1991, holding leadership roles including Chair of the Environment and Transportation Committee, Majority Leader, and Chair of the Montgomery County House delegation. While in the General Assembly he worked on issues including environmental regulation, energy generation and conservation, and greenhouse gas reduction. Notably, he was the first Indian-American in the country to be elected to a state legislature.

[2:31] - The mandate of the Public Service Commission is to maintain reliable, safe, affordable, essential utility services to all customers and oversee the impact.

[4:43] - Chair Hoover and Commissioner Barve describe how the Maryland Brighter Tomorrow Act aligns with the state’s overall energy goals.

[9:27] - The energy generation mix is a large complicated process.

[12:40] - There’s a greater use of digital products to control energy usage in the home. Homes have become more efficient.

[13:55] - Eventually there will be a situation where houses, buildings, and cars will be building, storing, and using energy simultaneously.

[14:40] - The United States is currently re-industrializing.

[17:58] - It is part of their responsibility to ensure that the investments that are made by the utility company are made across their distribution system.

[19:27] - Commissioner Barve describes the efforts made and the state’s legislature to aid low and moderate income individuals in Maryland.

[20:30] - Utility companies do not make money off of selling electricity.

[22:38] - Chair Hoover shares the feedback they receive when engaging with utility companies as it pertains to renewable energy.

[24:24] - This is an open and transparent process.

[26:40] - How have prices evolved over the last decade and where are they trending?

[29:55] - Both Chair and Commissioner share what excites them about the work they do.

[32:14] - Both share advice to those who are entering the industry.

The New York City Comptroller’s office works to promote the financial health, integrity, and effectiveness of New York City government, in order to strengthen trust, secure a thriving future for all New Yorkers, and build a more just, equitable, and resilient city. Led by an independently-elected citywide official, the Comptroller’s office provides checks and balances needed to hold City government accountable for budgeting wisely, investing responsibly, operating efficiently, acting fairly, living up to its obligations and promises, and paying attention to the long-term challenges we face together.

John Adler became the Chief ESG Officer at the New York City Comptroller’s Bureau of Asset Management in January 2022, where he oversees initiatives related to environmental, social, and governance (ESG) impacts on pension fund investments. His responsibilities include corporate governance, diversity, equity and inclusion, climate change, workers’ rights, and integrating ESG into the investment process. Previously, John was Director of the Mayor’s Office of Pensions and Investments under Mayor Bill de Blasio and spent 23 years in the labor movement, most recently leading the SEIU’s Retirement Security Campaign and co-founding the Georgetown Center for Retirement Initiatives.

[1:50] - John shares his background and how his career path has led him to his current role as the Chief ESG Officer.

[4:00] - John discusses the primary focus areas at the Comptroller’s Office.

[6:55] - His previous experience serving under Mayor de Blasio gave John a lot of knowledge to prepare for the work he’s doing now.

[11:02] - For making the case for ESG, there were challenges that have evolved over time.

[12:31] - ESG has become much more widely accepted in the business world as a way to appropriately evaluate business risk.

[16:04] - Managers are committed to ESG and climate change, but they don’t want to get in the crosshairs of anti-ESG.

[17:38] - Critics believe their criticism serves them politically.

[19:09] - Fiduciary duties are taken very seriously.

[20:27] - John shares some examples of efforts that have represented ESG’s values.

[24:27] - John discusses another example of union representation.

[26:54] - There is a four component implementation plan to move forward towards climate change goals.

[28:39] - The most difficult challenge is identifying private market dedicated strategies to invest in climate solutions.

[31:21] - There’s a drive in the economy right now for climate solutions.

[32:22] - Pension funds are not big enough to adequately address the climate change challenge we are all facing. We need to collaborate.

Elemental Excelerator is a nonprofit investor focused on scaling climate technologies with deep community impact. They bring more than a decade of experience across the climate sector, with an active and maturing portfolio of more than 150+ companies. Elemental fills two gaps fundamental to addressing climate change: funding projects for climate technologies in communities, and embedding equity and access into climate solutions. They invest in transformative technologies to create a system change for a more resilient, equitable future.

Amir Chireh Mehr is the Senior Investment Director at Elemental Excelerator. He is responsible for managing all aspects of transactions over the investment lifecycle at Elemental, from investment strategy formulation and origination to execution and asset management. His expertise and responsibilities extends to fundraising and building partnerships with investors, leveraging these relationships to enhance outcomes for climate-focused companies with the potential to catalyze meaningful decarbonization pathways across communities.

In this episode, Amir shares the company’s investment approach and the impact of the Greenhouse Gas Reduction Fund. He also discusses promising trends as well as advice and common pitfalls of entrepreneurs seeking financing.

[1:56] - Amir shares his background and what motivated him to join Elemental.

[4:30] - Elemental began with an interest in applying for a grant with the Greenhouse Gas Reduction Fund and it caught Amir’s eye.

[6:42] - Amir explains some of the investment criteria they look into when deciding on what projects to invest in.

[9:08] - They have to evaluate the quality of the cash flow relative to the investment type.

[12:09] - The Greenhouse Gas Reduction Fund is $27 billion that was set aside to capitalize not-for-profit institutions to provide low cost capital.

[14:35] - It’s been a challenging process for Elemental Excelerator to apply and navigate the application for the Greenhouse Gas Reduction Fund.

[17:12] - The idea was to use government dollars but to marry that with the efficiency of private sector approaches and methods.

[19:17] - For entrepreneurs, the program requirements are pretty straightforward, but certain things can seem a little complicated.

[21:57] - Amir shares some of the challenges in applying and some of the ways projects receive financing.

[23:23] - If an entrepreneur would like access to these types of dollars, they need to have an eye for reframing things through the lens of structured finance.

[26:50] - Amir describes some of the promising trends in the industry and some of the areas that are seeing a lot of forward momentum and advances.

[28:21] - Follow where the opportunity is. We need new business models and solutions.

[30:53] - You have to dutifully manage your scarce cash, but also have a line of sight in building your business in such a way that you’re meeting the needs of stakeholders.

The URBAN-X platform provides tailor-made programming, connections and resources to early-stage founders. Founders in their portfolio tackle some of the toughest challenges that cities face today as they confront a new climate reality.

As mechanical engineer, Tristan Bel first designed packaging machines, medical equipment, and consumer goods, and then managed products and operations for a non-profit organization. He moved to New York City in 2010 to focus on innovation and early-stage entrepreneurship, co-founded Topager (urban farming) and Sitrep (urbanism studio) and grew hardware tech incubator NYDesigns into a bustling hub, selecting and coaching over 35 startups. At URBAN-X Tristan shapes and manages the accelerator and MINI Impact programs, and enjoys writing about it all on medium.

In this episode, Tristan describes URBAN-X’s Accelerator Program and what they look for when selecting companies for the cohort. He also gives great tips on how to make the perfect pitch, tools on how to fundraise, and how the Accelerator Program helps founders navigate government funding in an ever-changing political environment.

[1:58] - Tristan shares his background as an engineer and how he found his way to his current role as Program Director at URBAN-X.

[3:30] - URBAN-X is connected to MINI. Tristan explains how and why URBAN-X was founded.

[5:45] - Tristan shares some of the success stories and innovations of companies working in the Accelerator Program. He describes what the program entails.

[7:40] - There are certain qualities that are heavily considered when looking through applicants and deciding what companies to accept.

[9:27] - They are very selective with the hundreds of applicants they receive and only select 12 to 14 based on trends and interests in bettering cities.

[12:02] - One area the Accelerator Program helps founders with is fundraising.

[16:17] - The pitch is a key component in fundraising. Tristan shares some tips on how to present the story without being too technical.

[18:32] - Tristan explains how they guide entrepreneurs in acquiring their first customers.

[20:04] - How important are unit economics?

[22:34] - Karan and Tristan discuss batteries and market trends.

[24:01] - Political changes are constant. There are some things to consider.

[25:40] - There are some organizations that are easier to get funding from than others.

[27:29] - Electric vehicles have been trending and growing significantly, but there are still problems to be solved.

[29:39] - Be ready for a marathon, not a sprint. There’s a great community ready to welcome you. Do something that is important to you.

To stave off the worst effects of the climate crisis we must leverage our greatest ally, the ocean. To do so with the speed needed to meet this moment, we need to build companies—with repeatable, scalable business models—that can achieve global impact. This is our collective challenge, and our great opportunity.

Dr. Julie Pullen is an oceanographer and meteorologist focused on climate resilience, earth system prediction, AI, and climate tech. She is currently a founding partner and Chief Scientist at Propeller Ventures, an ocean climate solutions VC fund, and previously served on the leadership team at Jupiter Intelligence, a climate risk analytics startup. Her academic career includes a decade as an ocean engineering professor at Stevens Institute of Technology, a joint appointment with the Department of Energy, and a Fulbright Visiting Professorship in the Philippines. She also has a background as a Navy oceanographer and has held fellowships at Stanford and the Department of Homeland Security.

Dr. Pullen is a member of the U.S. Climate Security Roundtable, served on the National Academy of Sciences committee for the National Climate Assessments, and co-authored a chapter of the New York City Panel on Climate Change report. She has held leadership roles in both the American Meteorological Society and The Oceanography Society. Dr. Pullen holds a Ph.D. in physical oceanography, a master’s degree in applied mathematics, and a bachelor’s degree in physics and math.

This episode will make you want to get up and take action.

[2:11] - Dr. Pullen began her career as a professor of ocean engineering. She describes the transformative experience that created a shift in her work.

[6:08] - Propeller Ventures was created by a team of colleagues identifying what fell into the areas of climate solutions.

[10:49] - With the scale and scope that is needed to adapt to climate change, there will never be enough money. There have to be ways to expand climate solutions.

[12:47] - Timing really matters. The fund was fortunate enough to grow at a time when people were ready and willing to contribute.

[13:31] - The ocean has buffered us from the full brunt of climate change. Our whole climate rests on the ocean.

[15:37] - Propeller has invested in several companies to date. Dr. Pullen shares how they were able to find the first few companies to invest in and what she is enthusiastic about in the works.

[18:06] - Dr. Pullen describes some of the areas they have been able to shine a light on as opportunities and innovations at Propeller.

[20:21] - The community is leaning into quantifying biodiversity.

[21:37] - AI tools are extremely exciting in meteorology projections.

[24:26] - Propeller invests in companies that are leveraging AI tools in innovative ways.

[25:55] - We are at a point where novel ideas are able to make a big difference and ensure that we are leaving no stone unturned.

[28:19] - As a former educator, Dr. Pullen is able to connect with scientists in a unique way.

[31:23] - How is new technology developed and invested in at Propeller?

[35:47] - Reflecting on her career and the careers of her former students, Dr. Pullen shares some advice for those seeking experience in this industry.

NY Green Bank is a New York State-sponsored investment fund dedicated to filling financing gaps in clean energy and sustainable infrastructure markets. Their investments contribute to greenhouse gas emissions reductions, energy efficiency, clean energy generation, and the mobilization of private capital in key market sectors. 

NY Green Bank uses public capital to mobilize private investment into underserved green sectors, filling market gaps and advancing public climate targets, with the goal of enabling private investors to expand their sustainable infrastructure portfolios in a meaningful way. The green bank model has been active and growing for over a dozen years, with green banking institutions operating at the local, state, regional, and national levels, both as government-affiliated agencies and as independent non-profits.

Kaitlin Butler is a Vice President on NY Green Bank’s Investment and Portfolio Management team where she supports the origination, evaluation, and execution of scalable clean energy and efficiency project investments across New York State. Prior to joining NY Green Bank, Ms. Butler was on the investment team at Mobility Capital, supporting deal sourcing and execution, fundraising, and impact measurement for next-generation transportation solutions. She is also a 2021 Clean Energy Leadership Institute Fellow in the inaugural New York CELI cohort, aiming to advance the just energy transition in New York and beyond.

[2:45] - Kaitlin describes what NY Green Bank is and what they are focused on.

[3:45] - Before her work at NY Green Bank, Kaitlin found herself working in investment banking.

[5:05] - One key objective of NY Green Bank from the start has been to close financing gaps.

[7:41] - Kaitlin walks us through the process of lending and financing projects and shares how they are working to close financing gaps.

[10:17] - Kaitlin shares that they are very excited about the Storage Roadmap and incentives by NYSERDA.

[12:34] - One of the ways to get started with NY Green Bank is by speaking with Kaitlin and through a portal on their website.

[14:33] - There are some exciting changes in IRA legislation that impact tax equity.

[16:50] - A great idea can come from any developer. NY Green Bank reviews all applications.

[18:32] - Every time a transaction is closed, it is published on the NY Green Bank website. Kaitlin shares what other metrics are available to view.

[20:58] - NY Green Bank is not here to compete with private capital.

[22:34] - In the climate space, Kaitlin is most excited about recent federal fund mobilization.

[24:17] - Don’t start with skills, start with values.

[25:36] - There are tons of resources and organizations to help learn climate finance and a lot of opportunities since there is so much work to do.

Transitioning the global car refill supply chain to electric will take decades of focused and intense work to solve the fundamental engineering challenges required to generate, store, transmit, and distribute electricity for a global fleet of electric cars. The mission is to decarbonize and electrify transportation by powering all of EV charging.

Quincy Lee, Co-Founder and CEO of Electric Era, started his professional career as a mechanical engineer at SpaceX. Applying the skills he learned for spacecraft to the climate challenge here on Earth, Quincy is on a mission to make electric vehicles fast-charging, ubiquitous, and affordable. At Electric Era, Quincy and his team have built a modular electric vehicle battery and smart charging system that enables the easy implementation of charging stations at gas stations and convenience stores.

In today’s interview, Quincy shares why he founded Electric Era and why it was during a global pandemic. He has such a unique model that he describes in this conversation and provides advice and motivation for fellow entrepreneurs and rising entrepreneurs in the climate space. The company has seen many challenges, but they have always been able to overcome them through perseverance and implementing a plan.

[1:46] - Quincy shares his background and the motivation he had to start Electric Era.

[3:43] - The idea of following his passions and following his heart led him to developing Electric Era during the pandemic.

[5:00] - We will make major shifts in climate when we follow our heart and put in the work that serves others.

[7:24] - The pandemic did not make starting a business very easy. Quincy describes the early challenges he experienced in launching and creating value with Electric Era.

[9:22] - Similarly, Karan began the podcast from across the world during the pandemic.

[11:40] - For some, finding a passion is a challenge.

[12:59] - Technology makes things possible, but without the fire and drive, there is no action.

[14:35] - The best founders are those with perseverance.

[16:49] - Quincy shares some of the challenges he experienced throughout the last few years in growing Electric Era.

[18:23] - After working at SpaceX for 6 years, Quincy learned a lot of amazing strategies that he was able to implement at Electric Era.

[20:25] - Quincy shares some of the examples of the innovative charging stations they have built in places throughout the country.

[22:48] - Decarbonization is only one part of the goal.

[24:48] - Quincy explains how their charging stations work.

[26:56] - If you are a retailer that wants to modernize your station, reach out to Electric Era. There are different models that will work for your business.

[28:15] - There are so many companies that are doing this work. Technology will pull us through the “doom and gloom”. The progress is going in the right direction.