Energytech Startups

00:00:00:03 - 00:00:28:21
Unknown
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00:00:28:23 - 00:00:47:15
Unknown
Welcome back to the show, everybody. I'm really excited today to have with me. A special guest are in Dumb Bhattacharya, who is, who just started his investment firm called Tailwind Futures. And it's a fund that has a very unique thesis. So I'm really excited to get into that today. Welcome to the show. Thank you very much Nadal.

00:00:47:15 - 00:01:14:00
Unknown
Thank you Jason, it's great to be here. Yeah. So before we you know, get into yeah maybe maybe that's a great place to start is tell us about the story of Tailwind Futures. What is your thesis and how did you come about deciding on starting this fund? Okay. Yeah. So, I so tailwind futures, first of all, like you know, quick one liner in terms of what we do, we are a venture capital firm, in early stage.

00:01:14:00 - 00:01:38:17
Unknown
We're a strategic fund and we're an ecosystem developer. And we focus on the area of climate adaptation and resilience, which is a unique, emerging thesis. And specifically, we focus on corporate resilience or enterprise level resilience technologies and innovation, where we invest and we invest across three different verticals. So we look at built environment and infrastructure, we look at supply chain resilience and we look at workforce resilience.

00:01:38:17 - 00:02:06:21
Unknown
So these are three verticals we invest across and across to use. We invest in you know, software, hardware, material science. We're pretty agnostic to the specific type of technology. Insurance is an important area obviously. So we look at ensure tech solutions as well. Within that. So anything that essentially, creates resilience within the corporate environment, within business sectors, within industries, in the face of physical costs and physical impacts of climate change, that are going on.

00:02:07:00 - 00:02:28:02
Unknown
Okay. A bit of my journey how I got to this, I spent 30 years, 30 plus years at Schlumberger at SLB. Across, you know, started as a field engineer in 1995, lived and worked across ten different countries, which is kind of the par for the course for, the oil for the global oil field, as you know.

00:02:28:04 - 00:02:54:02
Unknown
And across this time, I spent, time mostly on the business leadership side running different regional and global businesses for SLB. And then the last six years, I had the opportunity to work in the corporate venture capital side, running the corporate venture capital team. Really, incubating and, investing in energy transition technologies. Okay. So building up what was Schlumberger is, new energy business, right?

00:02:54:02 - 00:03:20:01
Unknown
So a lot of work around decarbonization, industrial decarbonization, critical minerals, clean power, looking at things like carbon capture, hydrogen, critical minerals, geothermal, long duration energy storage, etc., etc.. So, during this journey, as I was kind of getting to my 30 year milestone, I spent a lot of time with, founders, investors, spent a lot of time with the venture capital side.

00:03:20:03 - 00:03:46:19
Unknown
And I really wanted to step out and do something different. And for the last two years before I left, I was thinking about what would be the thesis on which to focus. So I spent a good amount of time researching that. And what I was doing is, instead of kind of rushing down into areas where everybody else was rushing down, I was trying to look a little bit ahead of the curve, looking downstream in terms of constraints and looking at capital and constraints.

00:03:46:20 - 00:04:06:13
Unknown
Okay. So generally capital tends to follow in our industry. There's a little bit of confirmation bias. So a lot of capital gets concentrated on a few themes. And I didn't necessarily want it to get kind of caught up in that. Not that there's anything wrong with that. There's, you know, we need capital for solving lots of problems.

00:04:06:15 - 00:04:26:08
Unknown
I wanted to look ahead of that and try to understand what is it that we are not seeing? Where is it that capital is not flowing enough and, looked at a few different challenges and adaptation. Resilience really stood up. Okay. Why did that stand out? First of all, you know, we spent a lot of time on decarbonization.

00:04:26:08 - 00:04:48:19
Unknown
Like, there are people who have spent their entire careers on decarbonization technologies, and it's been very clear over the last few years that this is a very, very tough problem to solve. And it is going to take time. It is going to take resources. And there are some very smart people working on this, okay. And I'm very happy to see, you know, a lot of the progress that has happened over the last few years in, in some of these very key technologies.

00:04:48:19 - 00:05:17:11
Unknown
And we're seeing some of these getting to commercial stage. But at the same time, when we kind of look at, the world around us. Okay. The there is a cost. Okay. In terms of that is adding up, right? From impact. So if you look at, extreme weather impacts, if you look at, natural disasters, and then if you just extend out to more systemic changes like extreme heat, sea level change, etc., then there is a near-term impact that we are already living through.

00:05:17:11 - 00:05:39:10
Unknown
So if you if you go back to any of the reinsurers, like in Munich Re or a UN, I mean, they published these numbers all the time. So these are available. The last 8 to 9 years of average physical losses globally is of the order of $300 billion. And the insurance payout on this number is about $100 billion a year.

00:05:39:12 - 00:06:00:05
Unknown
So two thirds of what is being lost to natural disasters and extreme weather is actually uninsured. So this is a pretty big, uninsured gap okay. Or insurance gap if you like. So that is a big number that kind of stands out. When you now project this number out and people have been making projections, you know, there are projections that this will grow three times.

00:06:00:05 - 00:06:19:06
Unknown
So we're going to be hitting close to $1 billion of physical losses within the next 10 or 15 years. And the insurance gap, if it stays around the 60%. So that's a very big number. Okay. So that's I think one big, number to kind of take away and just to take away. So it's it's not necessarily that insurance is covering more or less.

00:06:19:06 - 00:06:42:18
Unknown
It's just that uninsurable risk right now is that really what it is? Correct. I mean, if you kind of look at it, the risks are changing, the hazards are changing, and the risk modeling is not covering, some of these. So insurance in specific cases are moving away from markets or are just not covering certain things as they should because they don't have a way to cover it as they should write it as the business doesn't exist.

00:06:42:20 - 00:07:05:14
Unknown
So, or they need to come up with different tools that allow them to, you know, assess the risk better and cover that. Right. So this affects individuals, this affects governments, public funding, etc., etc.. Now this insurance gap, who does it impact? It impacts all of these players. Now where is the capital coming from into adaptation today.

00:07:05:16 - 00:07:39:21
Unknown
The capital to kind of hard on your infrastructure or diversify your supply chain today. If we go back to about 2023 numbers. So tailwind futures do the research work around that. About $1.4 trillion was being spent globally on adaptation and resilience. About half of that was coming from public funding from governments. Okay. And so $740 billion roughly a year, which is equivalent to what was being spent in renewable energy infrastructure around the world, which is more than what was being spent in upstream oil and gas, which is of the order of 550 to $600 billion a year.

00:07:39:21 - 00:08:05:08
Unknown
Right. If you now go back and look at how much corporations were spending within that, it was of the order of a 10th of that, probably about $60 billion a year. Right. So very little coming from actual private funding or corporate funding. So there's a big investment gap that we identified there. So that was one of the reasons we wanted to look at tailwind features to be catalytic towards private capital mobilization in that space.

00:08:05:10 - 00:08:39:09
Unknown
The second big reason, that kind of I looked at the space was because, there's, as I talked about, a bit of concentration of capital towards some of the technological revolutions that are taking place in our space. I data centers, so much of happened, so much happening in that. And there's rightfully so, such a big infrastructure boom taking place in that space when you kind of look downstream of that, once again, there's physical constraints to how fast we can build some of this infrastructure and that physical constraint.

00:08:39:09 - 00:08:59:15
Unknown
When you start looking into reality, a lot of people are talking about power and grid, okay. And that's obviously a big, constraint that a lot of people are working on trying to solve that. But then there's also water and you don't hear as much about water infrastructure or water stress, happening. There's also around critical minerals.

00:08:59:15 - 00:09:20:19
Unknown
And while there is a lot of work going on in critical minerals, there is still a gap when it comes to supply demand on certain critical minerals as we kind of look, look forward, are in the supply chains of these. So that was another big area. Okay. The, the cost, the gaps are constraints. And I think the third area was how we look at business resilience.

00:09:20:21 - 00:09:43:00
Unknown
The business resilience, so far people have been looking at it as only I have an extreme weather effect. I have assets that are exposed and therefore I only need to look at asset integrity. But at the same time, when you start thinking about systemic changes, then you also have to think about if you are an infrastructure builder, the operating environment within which that asset will operate for the next 30 years.

00:09:43:01 - 00:10:09:06
Unknown
Okay, so you have to look at not only, the physical impact on the asset, but the operating performance of the asset over the time for which it's being built, the contractual exposures market risk in terms of pricing, and also how well are you set up to address some of the gaps we talk about, like insurance. Right. So we need to look at business resilience and business risk in a much more holistic way.

00:10:09:07 - 00:10:35:15
Unknown
So that was the third area. So these are the three things that kind of really spoke to me about the space. And at the same time, I felt we are at the cusp of so much of groundbreaking technology, whether it's AI, material science, etc., that we can innovate our way out of this, or at least in a large part, we can find solutions to this and that's what really took me into this space to, first of all, I came across great partners.

00:10:35:15 - 00:10:55:05
Unknown
So, partner up my partner, Emily Mazur Karate, who founded Tailwind Futures three years ago. She comes from a climate finance background, ex entrepreneur, and, you know, we started working together 18 months ago on setting up the strategy and the thesis of this, down the road, we were joined by Osama Idriss, a corporate venture capital guy.

00:10:55:05 - 00:11:26:20
Unknown
I remember him, he's on Chevron, right? He used to be at Chevron, Siemens and then EDF. Okay. So, you know, Osama came and joined us and he's now working with us as a partner as well. So between the three of us, we have a very diverse team. Very, you know, diverse in terms of the experiences that we bring to the table and our thought processes and, and, you know, we set out to build up the fund, raise capital, invest in early stage technologies to make adaptation and resilience and space.

00:11:26:22 - 00:11:49:09
Unknown
No. I find it super fascinating. When you first spoke about it would mean Earth X, because I was like, this is the type of fund I don't find in Texas because, we focus a lot more on growth, on, you know, even though we're not a tech city, but investors are more likely to fund I, or SaaS because that's just what you fund.

00:11:49:11 - 00:12:11:20
Unknown
And resilience and adaptation, the way you're talking about is more about managing the cost in some way, and it's less about like a growth story that you usually sell in VC. So how did you go about, you know, getting investors on board, right when it's it's a different mindset. So great point. Thank you for bringing it up because I'm going to counter that okay.

00:12:11:22 - 00:12:36:04
Unknown
So yes, the first impression you have when you start talking about physical cost and, loss prevention, the first thing that comes to your mind is resilience is all about loss prevention. Okay. How can I fix my cost? Because you're talking to me about insurance. You're talking to me about, you know, hardening my assets. Okay, so you can play defense or you can play offense.

00:12:36:06 - 00:12:54:21
Unknown
Okay. You get to choose. So you actually have three options. You can do nothing okay. And say every one of these hits is just a one time hit. And I'm going to take it on my first point. So you can you can put in soccer metaphors as much as possible today okay. So I'm just kidding. In soccer we don't say play defense or play offense because you know you play total football.

00:12:54:23 - 00:13:13:22
Unknown
So you're playing defense and offense in that same time. Right. But but again I was talking more in terms of American football, playing defense and offense. But there's the other angle where you don't do anything right. You can be a corporate player who says, I'm going to take this as it comes, as the hit comes, and we'll deal with that.

00:13:14:03 - 00:13:35:09
Unknown
Or you can play defense and say, okay, this is all about, you know, this is all about, loss prevention, okay? Which is essentially finding those areas where you have vulnerabilities and making sure that you don't have have losses. That's a good place to approach it. But the other side of it is you have tremendous opportunity.

00:13:35:11 - 00:14:02:13
Unknown
Okay, on the back of this to create a growth story, where does that come from? Let's say let's say you're an infrastructure builder and you are building your infrastructure based on forward looking models. In terms of climate, you're building your 30 year infrastructure or 50 year infrastructure on the basis of using technologies like digital twins, where you can actually quantify the impact of climate on specific assets, specific locations, in terms of how those will behave.

00:14:02:15 - 00:14:29:22
Unknown
Okay, you have an edge on top of, ahead of others who are building differently. If you are looking at adopting, you're a data center builder, okay. And you do advanced design based on some of the technologies that are coming out where you're really able to have very high degree of energy efficiency or very high degree of, let's say, you know, better cooling, for example, performance or power performance or more power resilience.

00:14:30:00 - 00:14:55:20
Unknown
These are all resilience technologies that help you build a better solution. And lead to a better outcome. Okay. As we go forward and as the physical constraints get more and more apparent, okay, then the demand for these kind of solutions will grow. Okay. Similarly, if you're talking about water stress, there's new technologies coming out that help you, regenerate water or reproduce water at lower energy.

00:14:55:22 - 00:15:29:13
Unknown
Intensities. Okay. Which is absolutely critical. There are new products coming out in the insurance market that help you cover your risk. Okay. And parametric models that trigger off of specific, events. And it allows if you're a small business or a medium sized business, allows you to get faster access to cash flow. Right. So all of these things are growth stories, because the people offering these technologies and solutions are going to see growth as the climate regime changes, as the operating environment changes.

00:15:29:15 - 00:15:54:08
Unknown
And that would be playing offense in the sand saying, hey, I'm not just looking at loss prevention. The person who's adopting these technologies is going to have a competitive advantage in the market. The person who's selling this technology is going to see growth okay. And that's where we're trying to get to. Yeah, I think if you you also just think about and I love this thesis because if you think about like the last 18 months of the the current political environment, like the boogeyman in the room has been FEMA.

00:15:54:12 - 00:16:13:23
Unknown
Right. And there's, there's even talk about some point about disbanding. And when you say who's investing in resilience? And, hardening, kind of, the US, like, you think it's either states or it's like a national organization like FEMA who's going to come in and kind of help. And there's a clear pullback in in that in the US today.

00:16:14:00 - 00:16:31:00
Unknown
And so if 90% of funds being spent were historically governments in the US is like 25% of the world economy. You look at this and you go, oh, government spending is is is going to decrease. It's no longer in favor from the current political environment. You know, the smart companies will look at this and say, oh, this is the opportunity to get ahead.

00:16:31:05 - 00:16:49:09
Unknown
Someone who's not paying attention are going to be the ones left behind. All right. Because that that safety net is if no one's been noticing it, it's gone. Right. And so you the I definitely see that, that trend of like the the funds are going to shift in terms of who the virus and, and this is the time to come in and offer those kind of competitive products.

00:16:49:09 - 00:17:19:19
Unknown
So it's yeah, it's a interesting dynamic, especially to be in today where I'm sure everyone is trying to figure it out. And that's the opportunity to make money. Right? Absolutely. Absolutely. So and, you know, talking about government spending, you know, the 2022 number of 740 billion, right. That was a global number. I can't remember the US number, but I mean, as this problem progresses, okay, you can't keep having more and more government spending in this, right?

00:17:19:19 - 00:17:40:19
Unknown
I mean, there is going to be a limit, okay. And that limit will be different in different countries. Right. But there are countries that are at the leading edge of this impact, like, you know, we're talking about the US here. But if you go out to Far East Asia, sub-Saharan Africa, South Asia, India, you know, where I'm originally from, you know, extreme heat, sea level rise.

00:17:40:19 - 00:18:03:00
Unknown
These are real things. Resilience. I do not have to explain to a single potential investor from any of these regions what resilience means. I do not have to explain, what adaptation means. Okay? They know it, and, you know, they're keen to get ahead of the curve on that. Yeah. So government spending in all of these countries is also limited.

00:18:03:02 - 00:18:22:21
Unknown
Okay. Government spending here in the US is limited, as we have seen. And it has drawn back. Okay. So capital has to step in there. And what we're trying to show the case is that this is not just playing defense. Capital can step in here and make a good return on that, create high growth businesses and create opportunities.

00:18:22:21 - 00:18:44:15
Unknown
And we have made six investments at the moment within our, fund. So we did the first close in January, and we've made six investments. And I'm super excited about all six of them because I think each one of them are unique in their way. Prove our thesis. And when I talk to you about these companies, I mean, you tell me that one of them is not going to grow.

00:18:44:17 - 00:19:02:00
Unknown
No. I would love to actually dive into some of them. And, you know, to get into some concrete examples of what this can look like. Yeah. So it'd be great if you could share. Share like decks, man. Obviously is is long time champion. And so I'd love to hear about like, your thoughts around them since I think a lot of our audience would be aware of them.

00:19:02:04 - 00:19:21:15
Unknown
Yeah, absolutely. I would love to talk about decks. Matt. It's, it's a friendly neighbor, company for everyone. So, let me let me, just take one step back and explain it a little bit. The framework of how we invest. So, as I mentioned, we invest across, built environment and physical infrastructure, supply chain and workforce resilience.

00:19:21:15 - 00:19:43:12
Unknown
And within these three categories we look at three types of solutions. So what are we essentially looking for. We're looking for solutions that help us predict or compute better okay. So we're talking about AI high performance compute, better sensors edge IoT devices etc., etc. in one category. Why? Because this will help us get a better handle on future risk.

00:19:43:14 - 00:20:04:09
Unknown
I'm not talking about now modeling solutions for based on past historical data. We need to look forward. So how do we make it more whatever predictions we're making, forecasting we're doing, how do we make it more hyperlocal? How do we make it asset specific. So those predictive models, the second category of solutions we look at are really, those that are physically mitigating risks.

00:20:04:09 - 00:20:34:05
Unknown
So hardware deep tech solutions. So we're talking about advanced materials like decks Matt. Talking about solutions around water harvesting solutions around, extreme heat okay. Radiative passive cooling, these kind of solutions. So this is where you're physically doing something to actually mitigate. Okay. And the third type of solutions now with the benefit of having, you know, better prediction and better mitigation, the third type of solution is we should be able to build better insurance products for the market that address gaps in the market.

00:20:34:07 - 00:21:02:07
Unknown
And this is where risk transfer comes in. So risk prediction, risk mitigation, risk transfer across these three areas of infrastructure supply chain and workforce. So now within that context let's say let's talk about next Matt. Houston area company. So Dick's Matt. We invested in Dex. Matt. Because supply chain resilience, is part of our thesis within supply chain, we look at critical materials and critical minerals.

00:21:02:09 - 00:21:27:11
Unknown
Now, copper has a huge, you know, supply stress as we kind of look into the future, huge demand growing even before data centers become a thing. Copper, copper was under stress. And, we believe, so, Dex, Matt produces, from carbon nanotubes, produces this material called Galvin. And Galvin has very high conductivity, high strength, lightweight flexibility.

00:21:27:12 - 00:21:50:07
Unknown
Magic material. Right. But. And what they have done is amazing. They have brought down the cost of producing Galvin. They are they've scaled up production. So today, Dex, Matt's beachhead market first entry market is automotive, aerospace and data centers, where they can replace copper and internal signal wires. Okay, this is not just a 1 to 1 replacement of copper.

00:21:50:07 - 00:22:23:11
Unknown
This is also a huge performance enhancement over copper in an environment where heat is a concern, the property of the material, actually the conductivity improves with heat. Okay. So the property of the material is actually better for the specific design that we're talking about. Right? So, so, Dex, Matt, we believe that, as it scales up, we'll be able to step into other use cases as well, and not just for copper, because it has also structural strength.

00:22:23:11 - 00:22:46:08
Unknown
So therefore maybe in some cases a case of steel or aluminum. So as well as Dex, Matt is going to be hitting new, cost benchmarks for Galvin. It's going to be opening up newer, newer markets. Okay. And that how does that help us in copper supply chain. Obviously replacement material. And you're not talking about replacing the whole of the copper supply chain.

00:22:46:13 - 00:23:26:16
Unknown
But this is a huge Tam. So if you address a certain use cases these are we're still talking about very massive markets. But at the same time what it does is it takes away the upstream risk of finding new resources, extracting resources. You know, if it takes 15 years and several tens of billions of dollars to bring a new copper mine online, those, you know, 15 years and several tens of billions can do a lot to scale up a production of a Dex Matt line, for example, and the midstream risk of having to ship that all the way to China to process and then bring back, you know, you also short circuit that

00:23:26:16 - 00:23:43:05
Unknown
now you can produce that material closer to your end point of view. So you're addressing both upstream and midstream. Hence you're removing supply chain risk. So that's an example of a supplemental material that reduces supply chain risk. I'm curious like where do they get the I assume it's it's mostly carbon. It's the primary material. And then there's some doping in it.

00:23:43:05 - 00:24:00:15
Unknown
But I mean, where does the carbon come from? Is it in the air or do you pull it out, like plant fire. This is, so from natural gas. Okay. If you do pyrolysis of natural gas that produces solid carbon, and that produces hydrogen, for example, there are a lot of companies around here who are producing hydrogen from pyrolysis.

00:24:00:15 - 00:24:22:10
Unknown
The byproduct of that is solid carbon. And depending on the process, if you get the right process, some providers can actually tune that byproduct to produce very high grade carbon nanotubes. The market of carbon nanotubes. This is the highest, the highest valued product. You can produce, of solid carbon, but it's the smallest market as well. Yeah.

00:24:22:10 - 00:24:42:18
Unknown
Okay. And what Dex mat solution can do, it can actually blow up the carbon nanotubes market. So that's a is it a feedstock for carbon nanotubes. And it reduces natural gas naturally. But the Dex process creates the nanotube. So that's what you said earlier. So the x max process follows the carbon nanotube production. So they start from high grade carbon nanotube suppliers.

00:24:42:20 - 00:25:02:05
Unknown
They take that they do their own proprietary process and creates Galvin out of that okay. Got it. Got it. Okay. So they produced, carbon nanotubes also they sourced I know they sourced the sources. What would cause the nano to market to explode as if there was a down. There's a demand. Yes. Yeah. You could put domestic domestically in anywhere basically.

00:25:02:05 - 00:25:20:18
Unknown
When, when not if that's made a successful then the car is gonna blow up. Yeah. You guys should really have Brian him here as well. Yeah okay. Yeah. Yeah. He's an amazing speaker. Yeah. So so next Matt is, you know, one company, for example. I'd love to talk about our latest investment. We did, like, three weeks ago.

00:25:20:20 - 00:25:58:23
Unknown
Allium engineering. Okay. So Allium is out of, Boston, Massachusetts. Two MIT nuclear materials scientists, went out to solve a really, really massive problem. And and infrastructure resilience today, which is, steel corrosion. So if you look at the rebar guys, if you look at infrastructure and just drive down any of the bridges or bypasses and you see all the corrosion within, within the infrastructure that is accelerating and it's accelerating especially fast and coastal areas with coastal infrastructure because of seawater invasion, okay, or subsidence or, you know, many other reasons.

00:25:58:23 - 00:26:22:19
Unknown
Right? Flooding. So, storm surges, okay. As, as you're having in many places, parking lots are getting corroded and there's a huge amount of money being spent on, parking lots upgrade because of corrosion within those, because of flooding. So the solutions that you have today, which some dots are implementing are getting corrosion resistant. Rebars. And how do you get corrosion resistant today?

00:26:22:19 - 00:26:58:11
Unknown
The incumbent solution is you get a pure stainless steel rebar, which is very expensive. But last 100 years, or you get a epoxy coated rebar, which lasts about 20 to 30 years, but is very unreliable because it, you know, the epoxy can break and then you end up having corrosion anyway. So what? Steven Gopal and Sam McAlpine, the co-founders of Allium, have done is so they have taken their process from cladding nuclear reactors to create a laser deposited stainless steel cladding around carbon steel rebars.

00:26:58:13 - 00:27:21:07
Unknown
So just the the thin outside is the expensive, outside is the expensive stuff, but they do it in a way, and an automated process where it's laser deposited creates the right metal to metal bond, and in reality they do it on the steel pellets and then they do the process, and then they do the hot rolling process. And even it goes through the hot rolling process and it still stays intact.

00:27:21:09 - 00:27:38:00
Unknown
Right. So that's the beauty of the process. So they've managed to actually go out there and build infrastructure. So this is not a this is not a pilot or demonstrator. You actually have a bridge in California and you have a pier in Florida, okay, that has been built with this infrastructure. And engineering firms are now putting that in.

00:27:38:00 - 00:27:57:13
Unknown
So they just had a oversubscribed round series A we participated in that. So we're super excited about that. Yeah. And that is really common sense. Real technology. Yeah. Yeah. And you know why it sounds common sense to me. Because, you know, a word that I haven't heard you use, but that comes to mind again and again. It's like, this is what sustainability is about, right?

00:27:57:13 - 00:28:17:05
Unknown
Like it's about building things for the long term. Correct. And often I find, especially when it comes to infrastructure here in the US, we build houses that only last 20, 30 years. Whereas you go to Europe and you know, your houses last hundreds of years, that you're buildings you're living in that have been there, but you don't build houses like that here because you're going to break it down.

00:28:17:05 - 00:28:36:21
Unknown
It's made out of wood. And I gotta say, you live in Texas. You know, you kind of go to the northeast. You have not much different, obviously. Yeah. I mean, I'm talking about you're talking about obviously Texas Northeast is different. Like, you know, so it's also about like built, you know, it just makes common sense because why don't you build something and when it comes to you know, steel infrastructure too, why don't you build it?

00:28:36:23 - 00:28:53:13
Unknown
Because it's going to corrode at some point, but you're building it. And I think the reason why we don't do it in many places is because you're looking for short term gains and not thinking about the long term. Yeah, yeah. Thanks for listening. If you're a fundraising now or know someone who is, I want to tell you about saffron.

00:28:53:16 - 00:29:17:06
Unknown
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00:29:17:08 - 00:29:41:02
Unknown
Yeah yeah. So I think, you know thinking resilience will force you to think about about these kind of things. You're talking about buildings and built environment. So one of our companies class three technologies, we invested with them in August of last year, was spun out of Arup, the engineering and design firm, and, essentially. So we worked with Powerhouse Ventures, in that span out.

00:29:41:02 - 00:30:14:20
Unknown
And we participated in the round with them. So class three technology specifically looks at commercial real estate, built environment. And they have a software SaaS platform that has very strong physical, engineering, you know, structural and resiliency models. So if you're building a commercial real estate portfolio and you want to analyze specific climate risks based on the location and the type of infrastructure you're building, they have physical models that actually help model that, and they can come back and tell you what exactly the hazard is.

00:30:14:22 - 00:30:33:10
Unknown
They can go ahead and help you model mitigation for that. Okay. And, and this platform is now available for commercial real estate. And it it's, it's going to a growth phase on that as well. Because commercial real estate is really seriously looking at climate risk in terms of their existing portfolios and new projects that they're going to do.

00:30:33:16 - 00:30:53:14
Unknown
Yeah. So in commercial, they do have to think that long term. Yeah. In a, in a in a different way than residential. Yeah. Yeah yeah yeah I mean we've got yeah. Three other companies on the existing portfolio quickly going through it. So field factors, company based out of Netherlands, they've done projects in Netherlands and Spain and now coming into, Mexico.

00:30:53:16 - 00:31:19:05
Unknown
So they do, rainwater harvesting and processing and along with that, stormwater processing as well. And they can do large infrastructure projects. So they have their own proprietary, bio filter, which runs with a digital control system to make sure that the processing is done in the right way. We have, cryogenics, which is a, company out of UK.

00:31:19:06 - 00:31:40:20
Unknown
Just to show that we're not forgetting the workforce. I remember I mentioned workforce, so we have workforce that is exposed to extreme heat and heat shocks is a growing problem. Okay. Heat strokes. So cryogenics has a device that does not require power or water. And you go into remote locations, whether it's in the middle of the Permian, you're working on a rig crew and you're exposed to extreme heat.

00:31:40:22 - 00:32:02:04
Unknown
So if somebody has a heat stroke you can put up to put on the cryogenics vest, you, you know, connect a cylinder of CO2, it creates cooling, core body cooling. And the core body cooling is at the right rate. So your body doesn't go into cold shock on the other side. So their device is going to go into FDA clearance in Q4, and it's going to be available in the US next year.

00:32:02:08 - 00:32:18:18
Unknown
Yeah. And I was going to ask what's unique about these guys, because I've seen 3 or 4 people trying to do jackets and they're all doing like glycol and freezing it. Yes, the like throughout the day. But this is a remediation. This is a remediation thing. And and you can store the cold. Yes. You know because it's CO2 is it's CO2 you know, and it's portable, very poor.

00:32:18:18 - 00:32:40:03
Unknown
So this is the kind of thing think about it as a defibrillator. Yeah. Okay. In future you should have it looks like this in the truck and on the rig, on the construction site, on the mining site available, to help. So it's not preventative. It is. It's health recovery. Okay. In sports, for example. Right. And of, sixth company in our portfolio is whole new.

00:32:40:05 - 00:33:03:19
Unknown
It's a University of Hawaii, startup. They do flood monitoring. So they have these low cost, small footprint flood, monitoring devices connect into a data and prediction platform. And, so they're installed in, and they have installed base in Florida across the East Coast. But I'm really, really happy to say they just got qualified in the Texas Dir for early warning systems.

00:33:03:21 - 00:33:30:20
Unknown
So they're one of the qualified solutions, that anybody in Texas, they already have a commercial proposal now, approved and negotiated. So anybody in Texas can kind of step up and go ahead and install early warning systems and fast track the procurement process. So these are all real solutions we've invested in. So I heard three things. I heard, you not only invest all the way across the U.S from Boston away, but you also are sourcing companies out of Europe.

00:33:30:20 - 00:33:51:20
Unknown
So how does how does that work with, I think you're here and your partners in, California. California? Yeah, both of them. Yeah, yeah. So how do you get access all across? Yeah. So, it's our network, right? So, I mean, we are visiting Europe, you know, once in a while, but otherwise we have our network in the sense I've worked in corporate ventures and in SLV.

00:33:51:20 - 00:34:15:15
Unknown
So I have network in Europe. My partner Emily, she has a strong network in Europe because when she ran her company for 27, in the space of climate data analytics, she had customers across Europe as well, who she maintains connection with, the European ecosystem and the same thing with the Canadian ecosystem, and also through some of the consulting work, and the research work we have done, we have also focused on, Europe and Canada.

00:34:15:17 - 00:34:41:09
Unknown
So it's really maintaining the network. The deal flow comes. It's a still a global world out there, right, in terms of the venture world. So yeah, you know, we at Energy Tech Cipher, we work very closely with founders and help them, get access to the right investors. And then we talk to a lot of investors, too, and we're, you know, building this, extensive database of all these emerging technologies.

00:34:41:11 - 00:35:00:11
Unknown
Deal. And, you know, when we talk to investors and we try to find out what what is the biggest challenge for you in terms of finding the right companies for you to invest in? How would you answer that question for you, particularly, you know, having work with your experience in SLB and also with what you're doing now?

00:35:00:13 - 00:35:19:01
Unknown
Yeah, I think, there are lots of great ideas out there. Okay. And when we're looking for the right company to invest in, we're looking at well beyond ideas or, well beyond the science. Okay. So we're looking at, on the technology front, we're looking at something that has been that has gone through the initial scientific risk.

00:35:19:01 - 00:35:41:04
Unknown
And you have, a product ization done. Okay. Somebody has thought through the right product market fit. And what that what does that product look like? Okay. So the scientific risk is gone. The team is really, really important for us. So especially the founder is really, really critical. So we spend a lot of time with the founder making sure we understand the founder or the CEO.

00:35:41:05 - 00:36:13:18
Unknown
Sometimes it's the founder is not the CEO, in which case we look at the interaction of the team, okay. Is the team set up to, be able to scale this and convert this into a business? Okay, so that's, super important to us as well. And and then is the team flexible enough as the business grows to be able to bring in additional capabilities, especially when you're looking at deep tech, you know, the capabilities you have to add in the team as you go forward is about, you know, complex project execution or project development.

00:36:13:18 - 00:36:43:00
Unknown
Those kind of capabilities. So are they flexible? Are they open to that? Track record, you know, is another thing we look at. And then, who else is investing? What is the coalition of investors Co-Investors Strategic Partners who are ready to kind of take this forward, especially once again, if it's deep tech, you need to have partners who are ready to kind of go, go along with the ride, okay, and spend time on this.

00:36:43:01 - 00:37:12:06
Unknown
So, I think we look at a multitude of these things and I think specific to resilience tech, we're very focused on looking at because the and this is our focus and our fund because we are so focused on corporate resilience. Because remember when we started we we're trying to catalyze private capital, corporate capital. So we're really focused on B2B businesses or corporate businesses and there's a lot of, startups working on the B2B space.

00:37:12:06 - 00:37:38:00
Unknown
And, there's a lot of startups working on, impact and community, which is extremely important for us. We have a whole of society model that we work on when we that we've developed, from the point of view of impact, which is we believe by building strong, resilient corporations, we're also building strong, resilient communities because there is a interdependence between communities and corporations where they work.

00:37:38:00 - 00:37:58:14
Unknown
Right. So we we chose to focus on this through corporation corporate resilience to build resilient communities. Right. So we really want to make sure that the solutions we're investing in are corporate focused. You know, those that the corporate partners can go and adopt and implement and scale and deploy. So those are some of the things that we are looking for.

00:37:58:19 - 00:38:18:21
Unknown
Yeah. So if we were to kind of dig further into, you know, there's some stuff you said that can be like quantitative, but then a lot of it is qualitative in terms of like the team right in the, founder team dynamics and things like, you know, are they going to be able to pivot? So how would you actually go and judge that?

00:38:18:23 - 00:38:37:06
Unknown
Because, you know, usually, you know, how much time do you spend actually getting to know the founders and the company and how they operate that allows you and gives you confidence that this is something that I want to invest in, or it's a team I want to invest in. Yeah, I think typically we're investing in companies where it's possible to assess that, okay.

00:38:37:06 - 00:38:56:01
Unknown
And in cases where it's too early, we're actually spending a lot of time with a few companies in the really early stage where we're helping them through some of that, and we're spending time with them and sometimes we're the first ones at the table working with them. And we're not just transactionally looking at them and saying, do I invest in this or not?

00:38:56:02 - 00:39:15:23
Unknown
Yet we're trying to see the potential of this, what they're doing and saying, hey, this can grow into something big. This is solving a big problem. Okay, the juice is worth the squeeze, as they say. And, we should spend some time with them and help them through this process. And then that allows us to also look at the dynamics.

00:39:15:23 - 00:39:40:12
Unknown
And so we are dedicating time in building that in the really early stage as well. Okay. There's a couple of cases where it is literally a, a, a thesis or a thought process in someone's head. And sometimes we're having weekly calls or biweekly calls with them and saying, how do you think about this as a product? What would be your first customer or how, you know, how would you monetize this?

00:39:40:12 - 00:39:58:20
Unknown
So trying to help them kind of get through that. And then in that process we are able to, make some of those judgments as well. So it's about relationship building. It's about. Absolutely. And sometimes it can take you two years to decide if you want to invest in that company, but you're still absolutely talking to them. This has been, my pet peeve throughout the process.

00:39:58:20 - 00:40:17:04
Unknown
Like, I when I was at SLV as well, I used to hate being told by a capital advisor that this company is raising around and around closing in three weeks. So, you know, okay, time to decide. Yeah. Then it's going to take us six months and three weeks, you know, because I need to build a relationship. And the same thing continues into here as well.

00:40:17:04 - 00:40:41:02
Unknown
And it's even more here because we're looking at really early stage stuff. Right? Yeah. So, we have a podcast that's going to opposite of this where we, interview founders who raise capital. And one of the themes that's come up, the last probably 4 or 5 sessions is, is this theme of team. And I think one of the hardest things to get feedback on is what, you know, capital allocators like yourself think of a team.

00:40:41:05 - 00:41:04:14
Unknown
And it's always the like most important thing. And probably the least amount of feedback is given to a CEO, or founder on if you think they're DApps on the team or if it's even just the wrong CEO. And, I'm curious how you, you know, when you're engaging, when you're investing someone like, how do you how would you coach a founder to say, sorry, but your team is not good?

00:41:04:17 - 00:41:20:07
Unknown
Like you have the wrong people at the table. And here's what you need to do to not qualify. But like, yeah, clearly, you know, the technology needs to see the light of day, but you got to get the right people around the table. And I, I suspect the reason it's hard to get that feedback is because it's it's about people.

00:41:20:09 - 00:41:38:13
Unknown
Yeah. I think you can't give that feedback on day one. Yeah. Or meeting one or even meeting three. And that's depends on the founder in terms of how soon you can have that open conversation with him or her. Right. And you also have to do it with a lot of respect in the sense being a founder is tough, you know?

00:41:38:13 - 00:42:01:18
Unknown
I mean, you have the passion, you have the drive. You need to have the guts. You need to have you have to slog it, especially these days. Right. So, within that context, you have to spend the time to try to understand where he or she is coming from as well. And then it's like you put all of that into a bucket, and then you make your judgment call saying, is this the right time for me to go and have this conversation with the person?

00:42:01:19 - 00:42:21:15
Unknown
And it also depends on the stage. Sometimes the conversation could be, hey, your team is great for what you're doing now. Yeah, but I think you should think about if you go when you when you meet this milestone, you know, the, the challenges you're going to face is going to scale up. And this is the kind of person you're going to need for that stage.

00:42:21:15 - 00:42:50:21
Unknown
Right? The earlier we can engage, we can have those conversations. And frankly speaking, coach ability is also a trait, right. And if the person is not coachable, then it's a it's a judgment call once again. Right. But otherwise, again, there's no remedy for I mean, the best remedy is being early. Yeah. Okay. And building that early relationship without the relationship, we can't have those conversations.

00:42:50:21 - 00:43:11:20
Unknown
Right. Yeah. And the best founders I've seen have been, very open to receiving that help and relying on that help. And at times there have been cases where they'll step aside and have a professional CEO come in and run the business beyond a certain stage. And, and those companies tend to do well. Yeah. With the right team in place.

00:43:11:20 - 00:43:24:19
Unknown
Yeah. And I'm not saying it has to happen every time. I think the struggle is as a founder, you know, especially if you watch the founders who raise money, they always go out like we have the best team in the world for this, and they're awesome and I love them. And you kind of have to do that as a CEO.

00:43:24:21 - 00:43:42:08
Unknown
And you also are pitching like the team you've built when you present for investment. And it's it's very hard to go back and say, well, actually here the gaps right here are the gaps we have today and the gaps we have. Mauro. Yeah. And and I agree, you got to get the relationship to a certain point where you feel comfortable being honest.

00:43:42:08 - 00:44:02:00
Unknown
Like, I know there's a hole in the organization here, but I totally get why you get into the situation where, you know, one person's really pushing a vision of like, why they're awesome. And it's hard to give that kind of direct feedback. And it's it's almost, just a mismatch in how we have to communicate, like one of finance things like getting going.

00:44:02:05 - 00:44:27:22
Unknown
Right? Yeah. Yeah, yeah. No. Exactly, exactly. And you know, not not in current portfolio, but in the past, we've been in situations where, you know, also the board and, and the, well, board primarily also matters. So you also have to build that relationship with the board that it's not just you're a minority holder, so you can't just go and kind of push your own vision on this.

00:44:27:22 - 00:44:45:19
Unknown
So you have to make sure that you're going, with other shareholders on the board in some of these discussions and getting every everyone else's point of view in this as well. Yeah, yeah. Do you also fine. You guys, since you've invested in some companies outside of the US to that there's like cultural differences on how companies pitch.

00:44:45:21 - 00:45:06:15
Unknown
You know, in America we're trained to be more this is the best brand like you know, and we have to exaggerate and we have to really sell ourselves. Whereas, you know, I find Europeans don't really do that. I don't think Texans do that. Yeah, that's I, I don't want to single out any specific country, but yes, there is a difference inside and outside the US.

00:45:06:20 - 00:45:30:09
Unknown
Okay. There's a very clear difference inside. And outside the US. I would say kind of goes both ways in the sense probably people could be a little bit more aggressive or ambitious in some of them. Or aspirational, aspirational is the right word. Okay. You know, when I'm, when I'm talking to, a very early stage company, I'm looking for two things.

00:45:30:09 - 00:45:49:23
Unknown
Okay, in certain technologies. Right. I'm looking for what's the potential of this technology like? Think of it as a platform. Where else can it apply and where is the maximum potential on that? But I'm also looking for in the near term, what is your narrow focus? What is the product you're going to go with now, and how are you picking that right.

00:45:50:00 - 00:46:16:14
Unknown
And if you're only talking about the now and you're not talking about the big picture, then that's a red flag in the sense, okay, are you thinking big enough. And if you're only talking about the big picture but you haven't really gotten to. And now then that's a huge red flag because that means you're dispersed. Right. So I think that right balance you know you know thinking horizontal but you know, executing deep, those two things are really important.

00:46:16:14 - 00:46:35:03
Unknown
And probably where you see the difference is there. Like here, we probably tend to talk a lot about the big picture, how big the market is. And you know, and how I'm going to get a hockey stick growth. And probably when you kind of work somewhere else. Yeah they acknowledge the market, but they're really focused on what they're looking at now.

00:46:35:03 - 00:46:50:11
Unknown
And the fact that it's not going to be a hockey stick growth. So it's you know, how steep is the curve that it really boils down to that. Okay. I think, like we're struggling with this a little bit where like sometimes we're looking at our feet of like what what's our value proposition today or what are we doing today.

00:46:50:16 - 00:47:09:03
Unknown
Yeah. Versus you do need to like look up and say, no, this is this is the value proposition. We want to have. And and this is a discussion we're having with an energy tech as well as like, how do we you know, you want to communicate both because you have the current customers. You're serving the current customers. But you want to show them the place you want to take them.

00:47:09:07 - 00:47:36:18
Unknown
Yeah. And it's it's very hard to, to navigate. Yeah. And so I fully appreciate the challenge. Yeah. Yeah. No, I mean, it is, it is. Yeah. Yeah. Interesting. Yeah. Do we want to talk about, Sorry. Yeah, I know, I yeah. So maybe talk us through, like your process today of, like, where do you think you find the best companies?

00:47:36:18 - 00:47:58:06
Unknown
Because, you know, oh, investors tell us that, there's no lack of deal flow because your company's coming at you. Yeah, but where do you, you know, in terms of quality, you know, like, LinkedIn is full of, you know, as soon as you put investor on there, I'm sure you're getting bombarded with a lot of pitch decks and stuff, like how how do you sort through all of that?

00:47:58:06 - 00:48:18:13
Unknown
Are you currently using a I'm just curious, you know, what investors are doing? I think what we do, first of all, is we build these thematic, kind of thematic, thematically. What are we trying to achieve here? Right. Okay. So I talked about these three broad categories in terms of infrastructure, supply chain and and and workforce.

00:48:18:13 - 00:48:41:19
Unknown
Right. But then within each of these we have themes in terms of what are we trying to solve here. So let's take infrastructure. Water. Water is a critical aspect okay. So within water now, now that's an easy statement to make. But I actually consider water is a critical aspect. No matter what scenario you follow into the future, whether it's fully fossil fuel or fully electrified, there is a water stress right now within that.

00:48:41:21 - 00:49:09:23
Unknown
Then we look at how are people trying to solve water challenges? Are they using any advanced membrane, metal organic frameworks, any type of solvent, you know, or are they using any other type of, you know, technology or process? And, so we try to look at when we're looking at deep tech solutions, we try to go in and see, first of all, fundamentally, does this deep tech solution, does this make sense?

00:49:09:23 - 00:49:28:00
Unknown
Will it scale? Where is it coming from? Who invented this? Okay. Is the person talking about it, qualified to talk about it? Okay. Are we talking to the founder in this case or the science is, You know, the scientist who kind of invented this? And is that person paired with someone who knows how to scale this up?

00:49:28:02 - 00:49:50:20
Unknown
Okay, industrialization becomes important, right? So in that case, when we're looking for companies, more often than not, we are we end up looking at something coming out of a good university or research lab, because you really need to look at the pedigree of the material where it's coming from, whose lab is it coming from, and then the people who are combined there.

00:49:50:20 - 00:50:19:22
Unknown
So that's really critical. Similar. I think that theme kind of goes across most, deep tech, solutions, advanced materials solutions. Right. I mean, think about the market coming out of Rice University from Professor Matteo Pascal's lab. I mean, that's a great pace. I mean, immediately you start off from a place of of confidence, right? We've seen similar solutions in another theme that we are addressing in built environment and infrastructure, which is extreme heat.

00:50:20:00 - 00:50:48:08
Unknown
Okay. So in extreme heat today, everyone is addressing, active cooling systems, Hvac. So how can I make Hvac more efficient? There's, 3 or 4 different types of passing passive cooling solutions, which are extremely energy efficient, which can create, which can, which can essentially, combine to with active cooling solutions and significantly bring down, energy requirement.

00:50:48:09 - 00:51:10:15
Unknown
Okay. I'll mention a couple of them. One is on my theme of coming from great places is a company named Sky cool. And the Bay area, material was invented out of Stanford. And again on the theme of when we were talking about teams, you know, great founders combined with a professional CEO coming from a, built environment background, combined.

00:51:10:15 - 00:51:33:03
Unknown
And we believe they have a great approach to kind of how they're trying to solve this problem. Okay. And in this case, they have passive radiative cooling technology, which, is rejecting the infrared portion of the heat, and therefore it's creating a 10 to 15 degree cooling. You know, without actually spending a lot of energy.

00:51:33:05 - 00:51:58:20
Unknown
Second approach to solving problems like this, we find it's right here in Houston as a company named Helix Earth. We spoken to, you know, Rwandan team are doing a great job there where it's a technology that came out of NASA. Once again, you have to look at where is the technology coming from? Liquid desiccant solution, which, you know, they're reducing the humidity of the air before it goes into the Hvac stage and therefore improving the energy efficiency.

00:51:58:22 - 00:52:35:08
Unknown
Right. So, we really look at where the technology is coming from in those cases. There are other themes, where, let's say we're looking at we've looked at companies that are working in the wildfire space, and there's a few companies that have people who have real experience in having worked in that space, either ex firefighters who have come in, combined with people who are, you know, coming from the technology background and building a solution, like there's a company, and okay, I'm mentioning a few companies, that come to my mind, but there are many, many out there.

00:52:35:08 - 00:52:59:11
Unknown
Right. So, but there's a company named Silo Plan, for example, which is, you know, built by, firefighters plus technology and product people who are combining, to start being able to map, the, the high risk pathways of fire propagation in urban environments. So then that allows you to do better emergency resource management as you kind of do that.

00:52:59:13 - 00:53:24:15
Unknown
Okay. Similarly, we're seeing solutions, in the space of, insurance, there's a great company out of Austin named adaptive. My Gullane team, they've built a great company, and they're building parametric solutions, addressing, power outages. Okay. That are last less than 24 hours today. There isn't coverage for small and medium sized businesses.

00:53:24:15 - 00:53:46:20
Unknown
And they have built a parametric product for that. And they're building a few other solutions as well around that. They're building a, parametric insurance platform. So. And in this case as well, it's a founder who is coming from the industry and building this up. Right. So I think the track record of the founder is important when we are selecting these companies.

00:53:46:22 - 00:54:11:20
Unknown
In the case of deep tech, where it's coming from, whose lab is it coming from, and is it paired up with the right team in the case of AI or compute? Also, it matters a lot where the people are coming from. That's the starting point, I would say, and then the team. So if you if you meet a founder in the elevator, what advice would you give him or her, to pitch to you the right way so that it like, gets your interest?

00:54:11:22 - 00:54:30:19
Unknown
If I'm meeting the person for the first time in an elevator. I don't like elevator pitches. I hate the elevator pitches. But I will ask them to, set up a meeting, at least a 30 minute meeting to talk through the first time. I hate elevator, but what would make you decide that you're going to take that meeting?

00:54:30:19 - 00:54:52:12
Unknown
It's worth the meeting. Worth the meeting because. Because I'm sure people like you get approached all the time at conferences and events. Yeah. I think, specifically, I mean, first thing is fit with our offices, okay? We're very, very rigid. Not to say rigid, but we're very focused on the thesis that we've picked. And does it fit into one of the themes and within those themes, how does it fit with our research in those themes?

00:54:52:14 - 00:55:14:12
Unknown
So that's a pretty quick kind of assessment. Okay. And then, yeah, in that elevator pitch, I wouldn't expect to go deep into a diligence or something. But yeah, I would say at that point really looking at fit with thesis and and theme and. Yeah, yeah, I mean, mean you think about, you know, usually we talk about Houston as an energy transition capital.

00:55:14:13 - 00:55:48:20
Unknown
But I'm curious when you think about, resilience, like, what are ways that, like, Houston as an ecosystem could show some leadership, especially since you're here. Yeah, yeah. No, I, I think, the technologies that we're scaling up have, you know, similar challenges in their scale up journey, especially the deep tech ones, once again, as we see on decarbonization or oil and gas, in many cases, you're going to have to build processes and design and scale up, and you need that engineering capability, that manufacturing capability that exists here.

00:55:48:22 - 00:56:25:04
Unknown
Okay. This is this is kind of the center of that capability. So I think that's a really important one. But, you know, that's very similar to some of the other kind of VC pitches. I would say. I don't want to say fortunately, but unfortunately we have all of the use cases here. Okay. Unfortunately we have all of the use cases here where we need to apply resilience tech, whether it's extreme heat, flooding, early warning systems, water systems, water systems, you know, urban design, built environment, corrosion.

00:56:25:04 - 00:56:49:04
Unknown
I don't think we have fire risk. I think we're good on that one. Well, Texas, Texas, Texas has. Okay. Texas has had some pretty massive wildfire last year. Really. Right. Yeah. So if you go beyond Houston, like look at the broader, you know, broader Texas environment, I think there's pretty much every single, every single product or every single, area we're focusing on.

00:56:49:04 - 00:57:16:03
Unknown
There's applications and use cases here. So I would think that within Houston ecosystem, there should be quite a lot of, focus on becoming resilient. Today, people are using the word resilience a lot. Most of the times when people are talking about resilience, they're talking about in the context of power and grid. Yep. Power and grid, because it's important for data centers, I think it's important to look beyond that into other constraints as well.

00:57:16:05 - 00:57:37:15
Unknown
And and I think this is where, you know, we're really happy to I'm here in Houston. So really happy to talk to any corporate partner, any anyone who is interested in the topic to learn more, to kind of, explain where that can fit in. Yeah. What's the best way to reach reach you for founders and for other partners?

00:57:37:17 - 00:57:57:03
Unknown
Yeah. I mean, LinkedIn is probably the easiest way. And, you know, I'm on LinkedIn and then Tailwind Futures is on LinkedIn as well. And we're constantly publishing newsletters and reports and, work that we're doing. We're doing a lot of work with, people who are more closer to our ecosystem, like, investors and prospective investors.

00:57:57:03 - 00:58:18:13
Unknown
We're doing executive briefings on each of these topics and pipeline briefings, but also we're doing broader events like at San Francisco Climate Week. We did a event around, built environment resilience and really focusing on these two areas of insurance, insurer ability as well as technologies that you can apply to to improve, built environment, risk.

00:58:18:13 - 00:58:39:00
Unknown
Right. Similarly, we'll be doing events throughout the year, New York Climate Week and, you know, some of the other events as well. So, you know, stay tuned to our Tailwind Futures, LinkedIn page and our website and, on LinkedIn, please reach out. And, yeah, that's probably the easiest way. Yeah, yeah. Well, thank you so much for coming here.

00:58:39:00 - 00:58:55:17
Unknown
And thank you for what you're doing in helping our societies become more resilient. So definitely thank you. Thank you very important. You know, not only, I'm sure you enjoy doing this, but it definitely has an impact on our society. Absolutely. Yeah. Thank you. Thank you, sir. Thank you.