Micah Kotch

Last week, I had the pleasure of moderating a discussion on navigating FOAK in climate tech at the Greentown Labs Summit in Boston (which had >600 people!!). Here’s a quick rundown of what was shared by Katherine St. James of Spring Lane Capital, Paris Smalls, PhD of Eden GeoPower, and Hannah Friedman of Planeteer Capital: 🌱 What is the definition of FOAK? We discussed how the term can be controversial - it's almost too general because it doesn't identify what kind of "First" FOAK refers to - first team project? First geography? First of a technology in a sector? First time for the integration of a system? It's also too specific because it has the word "first" in it, which can be anathema to later stage / project finance investors. 💰 Partnerships for Funding FOAK Projects We discussed how important it is to build a blended capital stack & use off-balance sheet capital for a project so you're not using the most expensive equity dollars to fund an infrastructure project with low-ish IRR. We also talked through being creative about using corporate partners to provide in-kind services or ink some agreement (at least an LOI) to attract this funding. 🏛 Role of Government We talked about how government capital is seen by investors & how it can be catalytic for FOAK. Government capital can provide validation that a startup has passed a rigorous diligence process by a third party - and incentives like grants or credits can help improve returns for the first project- but it's important to be doing this in conjunction with getting customer validation and to be able to present line of sight to competitive economics without concessionary capital. 👥 Advice for FOAK startups The panelists offered some very specific pieces of advice for startups going through FOAK: how to get creative with things like revenue sharing agreements or convertible notes, getting smart with project development early on (like with DeveloperU), being careful about using FOAK too liberally with certain investor groups, getting the right commercialization / FOAK talent in and around you early Huge thanks to the panelists and the team at Greentown Labs (Jill Kirkpatrick, Julia Travaglini, Aisling Carlson, etc you rocked it!!) for hosting this discussion on bridging the FOAK gap. Also immensely enjoyed the rest of the agenda. Check out the full recap & videos here: https://lnkd.in/d9ApYe9Y #ClimateTech #FOAK #ClimateFinance #ProjectDevelopment #GreenTech #CleanEnergy

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An example of the energy transition is the transition from local local local to local local micro grid when describing a desirable place to live.

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Data from the International Energy Agency (IEA) illustrates the current "readiness" of #ClimateTechs + their potential impact on carbon reduction. As shown, many techs are at an early stage of being able to have a material impact. Concerningly, some tech funds recently returned capital back to investors recently + closed their funds - citing inability to fund capital intensive techs, found in areas like ClimateTech. This in part may be contributing to the $2 trillion shortfall in ClimateTech, that Deloitte estimates. What this may mean for the future? - The migration of LPs to global, super VC funds within ClimateTech, given the large capital pools needed to fund tech development - Greater specialization from smaller funds, energizing more niche elements of the ClimateTech market - but also altering their / LP's risk profile - A greater role to be played by debt financing in funding growth entities at an earlier stage - impacting cashflow dynamics Will be an interesting space to watch moving forward. We at The Proptech Connection are constantly working with all parts of the Proptech ecosystem. From the leading LPs, funds, techs and adopters in market, providing an independent view. Reach out to us today to find out how we can help. #InvestorTrends #Strategy #Global Ivo van Breukelen Stuart Daun Kiki C. Ethan Ward

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The #solarenergy sector in the Commonwealth of Pennsylvania is growing; LandGate reveals the potential for 11 GW of additional capacity through planned/proposed projects. Beyond 46 existing utility-scale solar farms, hundreds more are in development, signaling unprecedented momentum in clean energy investment. More here: https://lnkd.in/gAHeUA6A

Stakeholder Collaboration Powers Charging Microgrid & Expansion Electrifying freight transportation hinges on effective stakeholder management. Microgrid-centric charging at truck stops and depots requires close collaboration between freight operators, truck stop owners, and turn-key EPC firms to streamline deployment and maximize value. Last article of 11 in US strategy with Rish Ghatikar: https://lnkd.in/g6adzrz9 Key Strategies for Success: • Build Partnerships: Engage freight operators to define charging needs and coordinate with EPC firms for modular, scalable microgrids. • Align Incentives: Leverage federal and state programs, like NEVI and the IRA, to reduce costs and encourage adoption. • Simplify Coordination: Standardize components and incrementally stage buildouts to manage regulatory and operational complexities. By working together, stakeholders can reduce costs, unlock new revenue streams, and drive environmental benefits. Microgrid charging creates shared value—improving air quality, reducing emissions, and enhancing community resilience—while aligning with the principles of Edward Freeman’s Stakeholder Theory. Effective collaboration is the foundation for sustainable, scalable freight electrification. Let’s make it happen.

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ComEd Hosting Capacity Map Now Updated Monthly to Enhance Interconnection Process for Solar Developers. “Our updated hosting capacity map provides developers every month with near real-time information about solar projects in the development queue, which is key to identifying the best available location to interconnect their project to our grid,” said Mark Baranek senior vice president of technical services, ComEd.” In October, ComEd received 2,250 new applications to interconnect with its electric system, which serves more than 4 million customers in northern Illinois. It was the seventh consecutive month with more than 2,000 applications to interconnect with ComEd’s grid, bringing the total applications received this year to 21,952, representing an all-time high for ComEd. Additionally, the 1,976 distributed energy resource (#DER) systems that ComEd completed in October represented 42 MW of DER generation capacity, a new one-month record. There are approximately 1,160 MW of DER interconnected to the ComEd system, including 460 MW from residential solar systems, 285 MW from community solar and more than 345 MW from commercial systems. ComEd estimates that solar power on its grid will grow to 2,700 MWs by 2030. #Solar #EnergyStorage, #CommunitySolar #DistributedEnergyResources #CEJA #CEJAworks

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Timely and topical as the Microgrid Knowledge 2024 conference wraps up today. Microgrids will be playing a greater role in our energy delivery systems- from centralized model to one that includes more distributed generation model for resilience and cost savings and meeting sustainability goals. Advanced internal combustion engines play a key backup role in Microgrids. As we like to say Microgrids deliver the renewable energy that you want with the reliability that you need.

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What a great program from GridLab. Taking the plunge into entrepreneurship can be daunting. Don’t let the fear win out. Support like this in the beginning is a great way to help with the transition. Kudos to GridLab

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Grid analysts challenge Bonneville Power’s pace in adopting advanced conductors--my latest for PV Magazine USA. As the White House encourages utilities to use advanced conductors to help interconnect new renewable generation, the federally-owned utility Bonneville Power is moving slowly to use the high-capacity conductors, analysts said. Mike O'Boyle, Casey Baker, Michelle Solomon #AdvancedConductors

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The digitization of distributed energy requires actionable, common sense data standards. Even more, it needs open source code based on those standards that can be applied by everyone to drive scale and catalyze network effects. The OB Alliance was established to achieve that vision. As the original author of the Orange Button standard, the SunSpec Alliance is thrilled to be part of this effort. #codetalks #BSwalks

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Just look at this panel of grid and energy system leaders! What topics should we explore?? #renewables #energy #energytransition #climate #grid #utilities #resiliency #climateweek

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Important feature on community solar in TIME magazine today! Kudos to Jeff Cramer, Coalition for Community Solar Access and to all the New York Solar Energy Industries Association members featured in the article. I heard a recurring theme in this video: to unlock community solar we just need to cut through red tape. Truer words have never been spoken! New York is a blue state drowning in red tape. Cutting red tape for community solar in NY means: ✅ Streamlining local permitting for community solar by creating statewide standards that apply to all community solar projects in NY. NYSEIA estimates that this would unlock up to 4.6 Gigawatts of low-cost solar power! ✅ Driving down utility interconnection costs with transparency, regulation, competition, and flexible interconnection. Why should New York rate payers overpay for clean energy when there are so many solutions right at our fingertips? ✅ Professionally implementing New York’s expanded freshwater protections in a manner that doesn’t derail solar development. New York is expanding the NYS Department of Environmental Conservation’s jurisdiction over wetlands on January 1st without clear guidance for how to permit solar on and adjacent to these wetlands. That’s 🍌🍌! Our ask is simple and abundantly reasonable: cart then horse, please 🛒 🐎 🙏 This are the kinds of issues we work on all day at NYSEIA. Hit me up if you have questions or want to get involved! New York State Executive Chamber New York State Assembly New York State Senate New York State Department of Public Service NYSERDA

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🚀 NECEC & the Massachusetts Clean Energy Center Lead the Way on MA Grid Mod Solution-Building 🚀 The energy sector is at a critical juncture, facing unprecedented challenges that demand innovative solutions. Matthew Casey at Latitude Media writes a compelling piece on how the conversations that NECEC and MassCEC are leading are critical steps to address strains on our aging infrastructure, like unprecedented peak demand, an influx of distributed energy resources, the rise of electric vehicles, and extreme weather events. Our recent co-hosted event series, “Transitioning to the Future Grid in Massachusetts,” tackled these issues head-on and workshopped potential solutions for Massachusetts. Key highlights include: 🔧 Cara Goldenberg from RMI discussed the outdated cost-of-service regulation (COSR) models and the need for performance-based regulation (PBR) to promote the adoption of Grid-Enhancing Technologies (GETs). 🔧  Massachusetts’ newly appointed Assistant Secretary of Energy, Josh Ryor, shared insights from Connecticut’s Innovation Energy Solutions program, emphasizing the need for accelerated technology evaluation and deployment. 🔧  A recurring theme was the importance of improving accessibility and transparency during policy development and reforming utility-incentive models and technology adoption frameworks. These discussions underscored a crucial takeaway: modernizing utility incentives and accelerating the deployment of GETs is essential for a sustainable energy future. Stay tuned for info on the next event in this series, happening on September 26! You can read the full article here:  https://lnkd.in/erdcJrjb #CleanEnergy #GridModernization #SustainableFuture #NECEC #MassCEC #EnergyInnovation #ClimateTech #FutureGrid

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Recent developments in grid modernization focus on enhancing grid reliability, resilience, and the integration of renewable energy sources. Innovations such as 'advanced reconductoring' are being explored to upgrade existing power lines for higher capacity, facilitating the transmission of electricity from renewable sources over longer distances. Additionally, there's a push towards creating a more resilient and responsive grid to accommodate the increasing demand from clean technology and AI.

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Exciting news - the report from the first-ever Utility Innovation Survey is now available! With input from nearly 220 innovation executives in the US utility industry, this report unveils the innovation landscape. Discover the top innovation #priorities, strategies for sourcing and #funding innovation, and the #power of partnering with startups. It is clear that #innovation is the key to driving the #clean #energy #future and that fostering #collaboration between #utilities, #startups, and #regulators will move the needle forward. Access the report here: https://lnkd.in/e4HG7nPS Register to participate in the 2025 Utility Innovation Survey: https://lnkd.in/ewzeq3aj Read our blog for summary insights: https://lnkd.in/eWwTdRyp Gerard Kelly Aaron Panzer Shun Sakaguchi Peter Delevett Alexina Jackson Adam Sledd Casey Kirkpatrick Aparna Narang Mital Kanabar, PhD, PEng Paul Michael

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