Three Takeaways from Startups at Summer 2018 Connex Investor Night
Working with entrepreneurs is at the heart of our work at the California Clean Energy Fund. Last year, we launched the CalSEED Fund, which has funded over $4 million across more than two dozen startup teams. Moreover, since the organization launched in 2004, we have funded over 50 companies, including companies such as Tesla and BrightSource Energy as part of our first fund.
What is Connex Investor Night?
One of the best parts of my role as Investment Manager is working with entrepreneurs as they prepare to pitch their technology and plans to grow. Every quarter a select group of our portfolio companies participate in our startup pitch event, Connex Investor Night. This summer, we held this event for the first time in Los Angeles. Terry Tamminen, CEO of the Leonardo DiCaprio Foundation set the tone for the night with an inspiring keynote speech. Six startups participated, including three from our portfolio as well as three portfolio companies from the Los Angeles Cleantech Incubator (LACI).
We were also fortunate to work with excellent partner organizations. Our partners for this event were Covington & Burling, LACI, Angeleno Group and Boundary Stone Partners. Furthermore, CalSEED is made possible by support from the California Energy Commission.
The presenting companies to the invited audience of investors, policymakers and industry members were:
- Solstice Energy Solutions: developing IoT and software for intelligent management of distributed energy resources, with an initial focus in emerging markets
- South 8 Technologies: an energy storage company which has developed a breakthrough new electrolyte chemistry for use in lithium batteries and electrochemical capacitors
- Arctica Solar: engineering and manufacturing durable, high performance solar air heaters
- AVM: developing electric vehicles for commercial applications, including a first product — an all-electric EV shuttle — that is capable of charging in under 10 minutes
- CLEVR: building a turnkey intelligent LEV mobility platform
- MOEV: developing smart solutions for managing electric vehicle energy usage within microgrids
Three Top Event Takeaways
Innovation in Electrified Transportation is Thriving
Many of the startups that presented focused on opportunities in transitioning transportation toward being powered by electricity. MOEV, which has hardware and software products to support electric vehicle charging, is developing solutions that can balance EV charging demands with grid operations as well as distributed energy resources such as solar energy or battery storage. CLEVR is focused on integrating and managing low-carbon city transport systems such as shared scooters and bikes through a software platform. In addition, AVM discussed its 100% electric commercial vehicle product, utilizing lithium-titanate (LTO), a novel fast-charging and long duration battery chemistry.
New Startups are Working to Address Global Challenges
Addressing climate change requires a range of solutions tailored to specific markets and challenges.
One example is Nigeria, one of the world’s fastest growing countries. Solstice Energy Systems has developed SHYFT, an IoT and software platform that can displace polluting diesel generators with integrated clean energy solutions such as solar and battery energy storage. The firm’s Stanford-trained leadership is developing products that will make an impact in their beachhead market — the megacity of Lagos, Nigeria.
Moreover, South 8 Technologies, based in San Diego, has developed a technology that can be deployed globally to address improving battery performance in challenging parts of the planet, including deep-sea and aerospace applications.
Los Angeles Offers a Strong Ecosystem for Clean Energy and Transportation Innovation
Five of the startups that pitched at Connex Investor Night are based in Southern California. Startups in the market are supported by a strong supporting ecosystem. LACI counts AVM, CLEVR, and MOEV among its portfolio companies. Angeleno Group is a long-time investor in clean energy companies. Furthermore, Boundary Stone Partners features veterans of the energy policy world and is able to bridge the private and public sectors.
These strengths of Los Angeles are also showing themselves through a range of new initiatives. This past May saw the kickoff of the 2028 Zero Emission Roadmap, a partnership designed to reduce carbon emissions from transportation ahead of the 2028 Olympic Games in LA. The initiative’s leadership council includes the Mayor of Los Angeles, and senior leadership from organizations such as Southern California Edison, the Los Angeles Department of Water and Power and LACI. In addition, the new California Climate Cup prize competition launched this year through a partnership between LACI and the California Clean Energy Fund. Winners of the Cup will be announced at a finals event in Los Angeles, just prior to the announcement of the winners at the Global Climate Action Summit.
We look forward to continuing this series of events. If you are interested in joining our next event, join our email list!
Ken Alston is Investment Manager at the California Clean Energy Fund. Prior to joining the California Clean Energy Fund, Ken has spent time at the White House, U.S. Department of Energy, Simbol Materials, Penta Group, and Booz Allen Hamilton. He holds an MBA from the Stanford Graduate School of Business, and an MS in Environment and Resources from the Stanford School of Earth, Energy, and Environmental Sciences.
