Unplugging Russian Supply Will Boost Alternative Energy -Change Ventures
Russia’s war against Ukraine will fasten investments in alternative energy sources across the range, and the roll-out of new technologies will be much faster than earlier planned, Change Ventures’ partner Yrjö Ojasaar said in the NatureBacked podcast.
“I think solar, wind, those technologies are going to have a much faster roll-out, and more energy, more investment, more attention dedicated to them. And they’re going to be much faster in scaling,” Ojasaar said.
“So there are going to be positive impacts in the long run. And, of course, also with electric vehicles and alternative energy vehicles, and even, you know, cold fusion and things like that. They’re all going to get a boost from trying to unhook ourselves from the traditional petrochemical type of industries,” Ojasaar said.
“One more espresso, one more espresso.”
Many European countries have relied heavily on cheap Russian natural gas and oil supplies and hence are now struggling to unplug from the eastern pipelines.
“We’ve been really hooked on this cheap energy, but it’s been like getting energy from coffee. Instead of sleeping, exercising, and eating well, I’ll have one more espresso. One more espresso. You get this quick boost. And then you need another quick boost, and you need another quick boost. But how long can you keep going without changing the fundamentals?”
Change Ventures is a seed-stage venture capital fund based in the Baltic countries. Its climate-related investments include Kwota, Timbeter, Aerones, and Gelatex, but it has also invested in firms like Veriff and Printify.