“2-BULLET TUESDAY” Newsletter — ​ $240M for EV Chargers, $620B for Energy Storage, Giving Tuesday. vs. Cyber Monday, & 2-Hour Job Search

Chris Wedding, PhD
Jul 30, 2019 · 4 min read
Photo by Federico Beccari on Unsplash

Hey there,

We hope you enjoy our most recent 4-minute digest on clean energy, finance, business tips, trivia, and (attempts at) humor.

Quote for the day:
From Star Wars — [Luke:] “I can’t believe it.” [Yoda:] “That is why you fail.”

  • Food for thought: You can’t hide from the truth. Or if you do, it’s at your own risk. I know I’ve certainly ignored the facts of a struggling venture in the past. I let them fail too late. The truth can set you free, even if it’s a pain in the arse.

Now what?

Have a great week.

Chris Wedding, PhD

Managing Director, IronOak Energy Capital

Founder, Invest for Impact Academy


CLEAN ENERGY FINANCE

EV CHARGING
ChargePoint Raises $240M:
57,000 EV Chargers Globally

  • ChargePoint has raised over $500M since its founding in 2007. The latest round was a Series H, and 18 months ago their Series G added $125M. (Gulp) This year, competitors such as Volta raised $35M from GE Ventures, Invenergy, and others, while Ample raised $31M from Shell Ventures and others. This is all very exciting; maybe it’s time for the champagne. However…The implied exit valuation needed to achieve the high equity multiple return expectations of VC investors make me want to find some anti-stress herbs. (The Chinese kind…what kind were you thinking?) Plus, many utilities, motivated by the increased revenue they’d see, want to invest and own EV charging themselves — $700M+ example here (Greenbiz).With their cost of capital being far lower than VC firms, one might conjure up the image of Goliath trying to sit on top of David. | Source: VentureBeat (Paul Sawers)

ENERGY STORAGE INVESTMENT
Battery Sector to See $620B by 2040:
Bloomberg Sees Big Growth

  • That’s $620B of new investment over the next 22 years, globally. That’s nothing to sneeze at. This is partly driven by their expectations that large-scale lithium-ion storage costs fall another 52% by 2030, on top of their79%+ cost decline since 2010. The problem is that today, most batteries only get paid for 1–2 types of benefits they create, yet they are capable of up to 13 benefits (see graphic from RMI below). When more of these revenue sources can be realized, we are likely to see the pace of this $620B really take off. |Source: Bloomberg NEF (Veronika Henze)

PRODUCTIVITY & BUSINESS

OUR SPENDING PRIORITIES
Cyber Monday vs. Giving Tuesday:
Which Won?

  • Nothing says America like newly concocted holidays. (How about Jan. 1, National Hangover Day, or Jan. 3, National Fruitcake Toss Day?) I’ll give you one guess re: which holiday took in more money last year…The loser took in just 5% as much as the winner. Americans spent $7.9B on Cyber Monday, but gave just $380M on Giving Tuesday. As they say, Christmas is the giving season. (It’s never too early to start planning.) Skepticism aside, charitable giving in the U.S. reached an all-time high last year at $410B. | Sources: Fast Company (Ben Paynter) | CNET (Ben Fox Rubin, Carrie Mihalcik)

JOB HUNTING
The “Two Hour” Job Search:
Tips to Boost Your Odds of Success

  • Outside of IronOak, my work as a professor at UNC and Duke University gives me a chance to talk about career paths a lot. One of my most frequent recommendations is this book from fellow Duke colleague Steve Dalton: The 2-Hour Job Search. If you’re a frequent reader of the newsletter, you’ll see a theme: My other love is the 4-Hour Work Week. Both are, let’s say, indicative vs. literal. Here’s a blog about how it works. [Guidance for] a new job could be a great Christmas gift.

For More Information:

INVESTMENT BANKING| Renewable Energy, Cleantech, Smart City, and Mobility — www.ironoakenergy.capital

MASTERMINDS & EXECUTIVE EDUCATION | Renewable Energy, Startups, & Impact Investing — www.investforimpact.academy


Chris Wedding, PhD

Written by

#Startups #Energy #ClimateChange — Mastermind Coach (Entrepreneurs for Impact). #Finance (IronOak). Professor (Duke, UNC). Newsletter. chrisweddingphd.com

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