Forage Into The Future #10
Climate Tech Cools Down, AI Heats Up, the SEC Eyes Crypto VCs, From Rivian's Mega-Deal to China's AI Patent Surge.
Welcome to another edition of "Forage Into The Future," your compass for navigating the ever-evolving frontier of tomorrow's tech. I'm Abhinav Srivastava, armed with an insatiable curiosity and a penchant for tracing out the most fascinating developments bubbling beneath the surface of innovation.
This time, we're delving into a veritable jungle of technological intrigue. First up, a bit of a head-scratcher: 🦄 Venture Capital & Private Equity seem to be experiencing a bit of a chill, like a penguin caught in a sudden heatwave. Speaking of heat, 🤖 Robotics is heating up faster than a kettle on a supernova, with everything from octopus-inspired suction cups to sustainable bots strutting their stuff. And of course, no future-gazing expedition would be complete without a peek into the ever-expanding universe of 🧠 Artificial Intelligence and the mind-bending possibilities of ⚛️ Quantum Technologies.
On to this, then!
🦄 Venture Capital & Private Equity
Sightline Climate (aka “CTVC”) also released their H1, 2024 report on CleanTech investment trends. You can access their report here. Some quick snapshots that jumped out to me:
After a quite strong showing in the past, the climate tech ecosystem, much like a rainforest after a fire, is showing signs of stress. Resources are scarce, competition is fierce, and it seems as if only the most adaptable will survive. The data is clear: a 20% decline in H1 2024 climate tech funding compared to the same period last year. Deal activity down 26%. Even the resilient early stage is feeling the pinch. Logic dictates a course correction.
Deal Volume Slump: 553 deals closed, a 26% drop from H1 2023. Growth funding and deals took a particularly hard hit, down 33% and 13% respectively.
Early Stage Wobble: Even seed funding slipped 12%, and deal count plummeted 30%.
Series B Cliff: A large cohort of climate tech companies is approaching the Series B funding stage, where they need hundreds of millions, if not billions, to scale. But investors are wary.
Flight to Quality: Despite the downturn, the average deal size between Seed and Series A increased 19%, indicating investors are seeking high-potential companies.
Sectoral / Vertical Trends?
Hot rocks and geologic hydrogen reach the funding surface. Significant mega-deals in Energy include EGS geothermal project developer Fervo Energy raising $244m in new funding led by Devon Energy, and Koloma racking up $246m in its Series B to locate reservoirs of naturally occurring hydrogen.
Rivian raise dwarfs all mega deals. While Rivian has graduated from the private markets (and off this chart), the EV automaker notably raised a $1bn unsecured convertible note from Volkswagen (reminiscent of the Tesla Daimler deal back in 2010). With an additional $4bn coming by 2026, the partnership between legacy automaker and EV challenger aims to pave the way for the next generation of software-defined vehicle (SDV) platforms.
Vertical Volatility: Within the sub-segments / verticals, some interesting developments - Built Environment and Carbon Management took a 40% tumble, but Energy showed resilience with a mere 7% drop.
Funding Gap Widens: Raising a Series B now takes 2.5 times longer than in 2021, leaving companies in limbo as they face higher expectations for revenue and commercialization proof.
Companies are also shifting Funding Strategies: Many companies are moving beyond VC funding, tapping into project finance and debt to fuel deployment. H2 Green Steel, for instance, combined a $372 million equity raise with a $4.5 billion debt raise.
What’s happening on the Investor Side?
Focus on Quality: The current funding environment favors companies with strong fundamentals, proven technology, and a clear path to commercialization.
Are we hitting a ceiling? Quarterly growth continues to slow down, with Q2’24 only growing by 2%, compared to 3% in Q2’23 and 5% in Q2’22.
Investor Activity:
Unique investors decline 44% across industries.
Repeat investors drop from 30% to 14% of all investors (H1'23 vs H1'24).
‘Energy’ Vertical leads the pack as it attracts most investors (173) surpassing Transportation in total investment.
There is a lot more. As I said, check out the report above if you are someone in ClimateTech.
Famed Internet analyst-turned-VC Mary Meeker (of Bond Capital / ex-Kleiner Perkins) has written her first report in over three years (close to 4, really!). It deals with the intersection of AI and Universities - who Meeker sees walking together in tandem. Meeker’s reports - which were once extremely detailed deep-dives into different technologies (though her core focus has been the Internet and ‘New Technologies’) often spanning upwards of 100 pages - are one of the most lauded and consumed reports across the VC / Startup ecosystem. After her hiatus, her recent report on AI & Universities is still short by her standards (at 16 pages). You can read it here. Key elements recapped:
The ‘AI x University’ Interplay:
Meeker draws parallels between the internet's disruption of media and other industries and the potential for AI to disrupt education. She argues that universities must adapt to this disruption or risk becoming irrelevant.
AI's ability to automate information processing and creative tasks will shift employer demand towards individuals with practical skills and a demonstrable return on investment (ROI). This necessitates a change in focus from traditional credential-based education to skills-based learning.
AI tools make vast amounts of information readily accessible, empowering students to become self-directed learners. Universities must adapt their teaching methods to leverage this shift and foster critical thinking skills.
The rapid pace of technological change, fueled by AI, will shorten the half-life of knowledge and skills.
Universities need to forge stronger partnerships with industry to provide students with real-world experience, access to cutting-edge resources (like GPUs), and insights into future workforce needs.
Here is what Meeker recommends to the Universities:
Embrace a Customer-Centric Mindset and view students as customers and prioritize their ROI, adapting offerings to meet evolving demands.
Develop ‘Lanes of Excellence’ & focus on building best-in-class programs in specific areas, attracting top talent, and cultivating a culture of excellence to differentiate themselves in a competitive market.
Invest in AI Infrastructure to secure access to significant computing power (like GPUs) for supporting AI research and development, potentially through partnerships with industry.
Foster Innovation and Adaptation by encouraging experimentation with new teaching methods, embrace technology, and create a culture that values agility and continuous improvement.
Amidst rapid change, universities must uphold their commitment to intellectual freedom, critical thinking, and preparing students for a world shaped by both the opportunities and challenges of AI.
💰 SEC Scrutinizes Crypto VCs: The SEC is investigating cryptocurrency venture capital firms for potential violations of securities laws, particularly around token sales and promotional activities. Specifically, they are looking into whether VCs received tokens at significant discounts before public offerings and then promoted those tokens to their investors, potentially constituting unregistered securities offerings or even "pump-and-dump" schemes. This crackdown could significantly impact how VCs operate in the crypto space. (Link to article)
(VC Funding Rounds involving LATAM-based Startups Q1, 2016 to date)
📉 Latin American VC Activity Slumps: VC activity in Latin America hit a six-year low in the first half of 2024, with deals and fundraising plummeting.
Only 142 deals were closed in Q2, the slowest pace since Q4 2018, with just $2 billion invested across 323 deals in H1.
Limited exits, with only 30 worth less than $36 million, and a pullback from US investors due to high-interest rates are contributing to the slowdown.
This regional slowdown contrasts with global VC trends, where activity increased 11% YOY to $94.3B in Q2.
💸 Industry Ventures Closes $900M Hybrid Fund: Industry Ventures has raised a massive new fund to invest in emerging managers, startups (Series B focus), and secondary stakes in early-stage funds. The fund, called Industry Ventures Fund XVIII, will allocate: (a) 40% to emerging managers, (b) 40% to direct investments, and (c) 20% to secondary purchases.
They're particularly bullish on AI-enabled businesses, citing the potential for "stronger-than-usual" returns.
Post this, Industry Ventures now manages over $8B in committed capital across all of its funds, of which $2.3B is dedicated to early-stage hybrid funds focusing on U.S. companies and managers.
💰 Forestay Capital Raises $220M for European and Israeli AI & SaaS: Forestay Capital has closed its second fund at its hard cap, reaching $220 million to target early-growth stage enterprise AI and SaaS companies in Europe and Israel.
The firm typically leads investments ranging from $10 million to $15 million and has already made two investments from the new fund: Israeli cybersecurity firm Veriti and engineering intelligence startup Neural Concept.
To date, the firm has backed 13 companies, the most notable of which are K2view, Nexthink, Scandit, and Wasabi. Three portfolio companies from Forestay's first fund reached unicorn status, with another two getting acquired at an average gross IRR of more than 50%.
🪖 J2 Ventures Raises $150M for Dual-Use Tech: Veteran-led J2 Ventures has secured $150 million for its second fund, focusing on dual-use technologies with applications in both civilian and military sectors, though they avoid direct defense tech. The firm, which invests in seed to Series A rounds with checks between $1 million and $5 million, prioritizes companies that can improve the lives of the 3 million US military personnel.
🇪🇸 Seaya Launches €300M Climate Tech Fund: Spanish VC firm Seaya has closed its climate tech fund, Seaya Andromeda, at €300M, aiming to make 25 investments with checks ranging from €7M to €40M.
The fund will focus on Series A and later stages, targeting companies in Europe and Latin America working on solutions for climate change mitigation and adaptation.
💰 QuantumLight Backs Healthcare AI Startup: QuantumLight, the VC firm founded by Revolut CEO Nik Storonsky, has invested in healthcare startup Rad AI from its $200M debut fund.
While the investment amount was not disclosed, this marks QuantumLight's fourth investment this year, demonstrating their continued interest in AI-driven healthcare solutions.
🌱 The Westly Group Closes $100M Seed Fund for Sustainability: The Westly Group has closed a $100M seed fund focused on early-stage startups in energy, mobility, building, and industrial sectors. Purported focus on clean energy, electric transportation, sustainable buildings, and industrial decarbonization, aiming to back companies from seed stage to Series A.
🛡️ Ballistic Ventures Adds Cybersecurity Veteran: Cybersecurity-focused VC firm Ballistic Ventures has appointed Kevin Mandia, founder and CEO of Mandiant, as a general partner to guide investments and mentor portfolio companies.
🔥 Seed Stage Heating Up: Seed VCs are feeling the heat from bigger firms. Their solution? New "pro rata" funds designed to keep them competitive in later rounds. (TechCrunch)
🤖 Software Eating the VC World: 645 Ventures is celebrating 10 years in the game by embracing software to boost their seed-stage success rate. (Crunchbase)
The firm is using proprietary software to analyze data and identify promising investment opportunities, demonstrating how technology is transforming the VC industry itself.
💰 AI: VC Gold Rush or Bust? The race to invest in AI is on, but some VC firms are more exposed than others. (An analysis of the potential risks and rewards for VCs investing in AI, highlighting the importance of due diligence and a deep understanding of the technology.)
📉 Harvey Down but Not Out: After its acquisition plans fizzled, Harvey is back with a new, smaller fund backed by GV. The new fund, reportedly smaller than its previous $250 million fund, signals a more cautious approach for Harvey as it seeks to rebuild its position in the fintech space.
💪 The Rich Get Richer: Venture capital is becoming increasingly polarized reports WSJ. Interesting article where WSJ explores the factors driving this trend, including the concentration of capital among a few large firms and the challenges faced by smaller, emerging managers.
📈 AI Fuels VC Boom: Fueled by a surge in AI deals, US venture capital funding just hit a two-year high of $55.6 billion in Q2 2024, a 47% jump from Q1. Interestingly, bigger players (like a16z) are dominating while smaller funds are having a difficult time.
Despite the increase, exits (acquisitions/IPOs) are still struggling ($23.6 billion in Q2 vs $37.8 billion in Q1). However, I think this number will slowly begin to increase as the ‘BigTech’ players begins to consolidate.
💸 Bezos Cashes Out: Amazon's stock price hit an all-time high, and Jeff Bezos took the opportunity to sell $5 billion worth of shares. This sale is part of a pre-arranged trading plan.
💰 Funds on the Move: Ardian raises a whopping $3.2 billion for its sixth fund, while Curie.Bio secures $380 million for its second fund, demonstrating the continued appetite for VC investments. Additionally, KLAR Partners announced the first close of its fund (Fund II) at €870 million.
💻 Artificial Intelligence
🧠 Meta Opens Up Its AI Toolkit: Meta has released four new AI models to the public, providing developers with powerful tools to build innovative AI applications. These models include a "text-to-audio" model that can generate realistic audio from text prompts, a large language model for code generation, and two models for image segmentation and object detection. This move towards open-source AI could accelerate innovation and democratize access to cutting-edge AI technologies. (The link is directly for the research paper)
😂 ChatGPT: Funnier Than a Human? A study suggests that ChatGPT might be able to generate funnier jokes than humans. The study found that participants rated ChatGPT-generated jokes as funnier and more surprising than those written by humans, challenging the notion that humor is a uniquely human trait. This raises intriguing questions about the creative potential of AI and its role in entertainment and beyond.
🤖 AI for Good: Predicting Wildfires with Machine Learning: Scientists are leveraging AI and machine learning to develop more accurate wildfire prediction models. These models take into account factors like weather patterns, vegetation, and historical fire data to identify areas at high risk of wildfires. This technology could be crucial for mitigating the devastating impacts of wildfires by enabling earlier warnings, better resource allocation, and more effective prevention strategies. (Link to article)
🚀 Amazon Counts on 'Grit and Innovation' to Meet AI Surge: Amazon is doubling down on its AI efforts, recognizing the transformative potential of this technology. They are investing heavily in AI research and development, focusing on areas like machine learning, natural language processing, and computer vision. Amazon aims to integrate AI into its core businesses, like e-commerce and cloud computing, while also exploring new AI-powered products and services. (Link to article)
🇨🇳 China Leading Surge in Generative AI Patents: A UN report highlights China's dominance in generative AI patent filings, indicating their ambition to lead the world in this rapidly growing field.
China filed over 3,000 patents related to generative AI in 2023, more than double the number filed by the US, highlighting their focus on securing intellectual property in this strategically important area. This trend raises concerns about the potential for an "AI divide" between China and the West.
More than 38,000 GenAI inventions were filed by China between 2014-2023 versus 6,276 filed by the United States over the same period. That is 6x the U.S. filings! South Korea came in third, on 4,155, followed by Japan on 3,409.
Image and video data dominated the GenAI patent filings, with nearly 18,000 inventions over the decade under review, followed by text, and speech/music with nearly 13,500 inventions each.
WIPO's report also found that GenAI patents using molecule, gene and protein-based data were growing rapidly, with nearly 1,500 inventions since 2014, and an average 78-percent annual growth over the past five years.
🤫 Privacy Meets AI: Synthetic data is exploding as businesses seek AI training data that doesn't compromise user privacy. Gartner predicts a whopping 75% adoption by 2026! This means companies can train their AI models on data that mirrors real-world scenarios without exposing sensitive personal information. Talk about a win-win for innovation and privacy!
🧠 Brain-on-a-Chip Breakthrough? Scientists have built a physical system that can learn complex tasks without a traditional processor.
This breakthrough utilizes a network of memristors, electrical components that "remember" their history, to mimic the learning capabilities of biological neurons.
Is this the first step towards truly intelligent hardware with applications in AI, robotics, and beyond?
🏙️ Cool Roofs Beat Green Roofs: Forget rooftop gardens, white roofs are the future of urban cooling! A new study reveals that white roofs are more effective at combating urban heat islands than green roofs or solar panels, potentially impacting urban planning and climate change mitigation strategies.
📉 Bay Area Layoffs Surge: Tech layoffs in the Bay Area have spiked to their highest level in over a year, indicating that the industry's downsizing trend is far from over. This surge in layoffs is attributed to a confluence of factors, including over-hiring during the pandemic, economic uncertainty, and a slowdown in tech spending, with potential long-term consequences for the region's economy.
For Older People Who Are Lonely, Is the Solution a Robot Friend? New York is experimenting with ElliQ, a robotic companion designed to engage in complex conversations and activities, aiming to reduce loneliness and improve the well-being of elderly residents. However, the initiative also raises concerns about data privacy and the potential for over-reliance on technology for social connection.
Artists stand up for their rights against AI threats: Artists are mobilizing to protect their work and livelihoods from the potential threats posed by AI technologies, including copyright infringement, job displacement, and the devaluation of human creativity. This highlights the growing tension between technological advancement and the rights of creators in the age of AI.
How generative AI is trying to rip the screaming soul out of the Enlightenment: This article critiques the potential negative impacts of generative AI on the core principles of the Enlightenment, such as reason, individuality, and human agency. It argues that the uncritical embrace of AI could erode these values and lead to a less enlightened future.
YouTube Now Lets You Request the Removal of AI Content That Impersonates You: In response to concerns about AI-generated deepfakes and impersonations, YouTube has introduced a new policy allowing users to request the removal of videos that use AI to realistically depict them without their consent.
We Need to Control AI Agents Now | Automated bots are about to be everywhere, with potentially devastating consequences: This article stresses the urgent need for comprehensive regulations and ethical guidelines for AI agents, highlighting the potential risks they pose to society, including job displacement, algorithmic bias, and the erosion of privacy. It calls for proactive measures to ensure that AI agents are developed and deployed responsibly.
OpenAI was hacked, revealing internal secrets and raising national security concerns — year-old breach wasn't reported to the public: This report reveals a previously undisclosed security breach at OpenAI that occurred a year ago. The breach exposed sensitive information, including source code and user data, raising concerns about the security of AI systems and the potential for misuse by malicious actors.
🇨🇳 Huawei & Wuhan Xinxin: Chipping Away at US Restrictions: Huawei is teaming up with Wuhan Xinxin to develop high-bandwidth memory chips, despite US restrictions on their access to advanced chipmaking technology. This partnership underscores Huawei's determination to overcome US sanctions and become self-sufficient in critical technologies like semiconductors. It is also reflective of China's broader ambitions to become a global leader in chipmaking.
🏆 Alibaba's Large Language Model Tops Hugging Face Rankings: Alibaba's language model is making waves on Hugging Face's global rankings, demonstrating its advanced capabilities in natural language processing. This achievement highlights China's growing prowess in AI research and development and its potential to challenge the dominance of US tech giants in this field.
🤖 Robotics
🤖 Japan's Robot Workforce Grows: West Japan Railway unveils a humanoid robot specifically designed for railway maintenance tasks, showcasing the potential for robots to address labor shortages and improve safety in demanding industries. This robot, 12m tall with its multi-jointed arms and dexterity, is capable of handling tasks like painting, vegetation management, and even carrying heavy equipment, demonstrating the advancements in robotics for infrastructure maintenance.
🐙 Octopus Tech: Suction Cups on Steroids: Researchers are taking inspiration from the remarkable gripping abilities of octopuses to create a next-generation robotic suction cup. This innovative gripper utilizes a combination of soft materials and fluids to mimic the octopus's ability to conform to different shapes and textures, creating a strong and versatile grip. This technology could revolutionize how robots interact with the world, opening up possibilities in manufacturing, logistics, and even healthcare.
🤖 Sustainable Robotics: Leveling Up Sustainability (5 Scale System?): The field of robotics is embracing sustainability not just by using robots for green tasks, but by rethinking their design and lifecycle. This includes using 3D-printed and biodegradable materials for robot construction, developing robots that can be powered by renewable energy sources, and even creating robots capable of self-repairing, reducing waste and environmental impact.
💪 Collaborative Robots Get to Work: Industry Ventures, known for its focus on emerging tech, participated in a $100 million Series B funding round for Collaborative Robotics, highlighting the growing interest in robots designed to work alongside humans in various industries.
💡Semiconductors & Materials Sciences
🌎 Mass production may soon make ultra-large nano transparent screens accessible to everyone: A breakthrough in nanotechnology could revolutionize the display industry, making ultra-large transparent screens commercially viable and affordable. These screens, known as Nano Transparent Screens (NTS), offer adjustable transparency and can be produced at a lower cost than existing technologies, potentially transforming applications ranging from digital signage and interactive displays to augmented reality and beyond.
⚡ Energy Harvesting on a Chip: Researchers have made a significant breakthrough in energy harvesting with a novel material that could power the next generation of miniaturized devices. This development paves the way for self-powered sensors, wearable electronics, and micro-robots by enabling energy generation on a chip level, reducing reliance on batteries and external power sources.
🖨️ Edible QR Codes? The Future of Food is Here: Researchers have developed a 3D printer capable of creating edible QR codes and other intricate designs on food. This innovation could revolutionize the culinary world, enabling personalized food creations, interactive dining experiences, and new possibilities for food labeling and traceability.
🔋Next-Gen Batteries: Hold My Sulfur! All-solid-state lithium-sulfur batteries (ASSLSBs) could be the future of energy storage. But, their kryptonite? Sulfur and lithium sulfide being non-conductive. A new liquid-phase synthesis method is changing the game, creating a supercharged cathode that could make ASSLSBs a reality. High-capacity, long-lasting energy storage, here we come!
💧 Novel 3D Stretchable Electronic Strip Could Spark New Possibilities for Wearable E-textiles: Researchers have created a novel 3D stretchable electronic strip that could revolutionize wearable electronics and smart textiles. This breakthrough material combines flexibility, conductivity, and durability, allowing it to be seamlessly integrated into clothing and other fabrics.
💨 Carbon Capture Breakthrough? Researchers have developed a new catalyst that could be a game-changer for carbon capture and storage technologies. This innovative catalyst, designed to capture carbon dioxide directly from industrial emissions like those from smokestacks, is highly effective even in harsh conditions and resistant to common contaminants that hinder other catalysts. This breakthrough could be instrumental in reducing greenhouse gas emissions and mitigating climate change.
♻️ How to Increase the Rate of Plastics Recycling: While recycling is widely adopted, actual rates remain low. MIT researchers studied PET recycling (common in bottles) and found that while systems and deposits are in place, collection and sorting infrastructure, along with consumer behavior, are bottlenecks. They suggest focusing on these areas, rather than just material science, to make a bigger impact.
🚀SpaceTech & Exploration
🚀 SpaceX's Starship Aces Key Test: SpaceX's Starship, poised to be the most powerful rocket ever built, has successfully completed a static fire test of its engines. This critical milestone brings Starship closer to its highly anticipated maiden orbital flight, a pivotal step in SpaceX's ambitions to enable human exploration of Mars and beyond.
☁️ Amazon's Spy Cloud: In a move raising eyebrows in the cybersecurity world, Australia has chosen Amazon to build a custom cloud server to store its top-secret military intelligence data in a contract worth US$1.3 billion. This decision highlights the growing reliance on commercial cloud providers for even the most sensitive government information, raising questions about data security, sovereignty, and potential vulnerabilities.
🛰️ China's BeiDou Gets a Boost: Not to be outdone in the space race, China is significantly upgrading its BeiDou Navigation Satellite System. This upgrade aims to enhance the system's accuracy and global reach, positioning BeiDou as a formidable competitor to the US Global Positioning System (GPS), and also underscores China's growing technological prowess and its ambitions for global leadership in space-based navigation and positioning technologies.
⚛️ Quantum Technologies
📡 Quantum Communication's Future: A new study explores the evolution and future potential of "quantum-secure" communication technologies. This research analyzes three generations of quantum communication, examining patent development, projecting future growth, and comparing international research strategies. The study suggests that quantum communication is poised for significant advancements, with implications for secure data transmission, cryptography, and network security.
Bonus: WEF Study on the same lines: here.
🔓 New Open-Source Software for Quantum Cryptography is Greater Than the Sum of Its Parts: In from the University of Waterloo’s ‘Institute for Quantum Computing’, this new open-source software aims to bridge the gap between theoretical and experimental research in quantum cryptography by providing researchers with a powerful tool to simulate real-world scenarios and accelerate the development of secure communication systems.
🔑 Offline/online attribute-based searchable encryption scheme from ideal lattices: Researchers are developing new encryption schemes based on lattice-based cryptography, which is believed to be resistant to attacks from quantum computers. This particular research focuses on creating a more efficient and secure way to search encrypted data, addressing limitations in existing lattice-based searchable encryption schemes.
🧬 BioTech & Genomics
🧬 Microsoft Dives into DNA Data Storage: Microsoft is partnering with Twist Bioscience to explore the potential of DNA as a revolutionary data storage solution. With its incredible density and longevity, DNA could potentially store vast amounts of data for thousands of years in a compact and durable format. This partnership highlights the growing intersection of biotechnology and data storage as we grapple with the ever-increasing demands of the digital age.
💻 Quantum Computing for Drug Discovery: IBM and Moderna are joining forces to leverage the power of quantum computing for accelerating the development of mRNA medicines. This collaboration aims to harness quantum computers' ability to perform complex calculations and simulations to design and optimize mRNA sequences for vaccines and therapeutics. This partnership represents a significant step towards unlocking the potential of quantum computing in revolutionizing drug discovery and healthcare.
💉 Curie.Bio Secures $380 Million Fund (See section 1 on VC/PE): Curie.Bio, a life sciences investment firm, has raised a substantial $380 million for its second fund, indicating strong investor confidence in the biotech sector. This fund will likely fuel further investment in cutting-edge biotech startups developing novel therapies and healthcare solutions.
🩸 Needle-Free Blood Draw Gains Traction: J2 Ventures, known for backing dual-use technologies, has invested in Tasso, a company developing a painless, needle-free blood draw device. This technology, originally designed for military medics in the field, has significant potential for broader healthcare applications, making blood collection easier and more accessible for patients and healthcare providers.
⚡ Energy & Sustainability
(A brief look at how EV companies that went public have fared over the years. Out of 10 companies, half have already gone bankrupt, and filed under Chapter 11 proceedings. Of the remaining lot, some are barely surviving, having depleted massive amounts of public capital as they trade for pennies on the dollar [such as Nikola & Faraday Future])
⛏️ Argentina's Lithium Boom: A new lithium production plant, a joint venture between French and Chinese companies, has been inaugurated in Argentina. This development underscores Argentina's strategic position in the global lithium triangle, holding vast reserves of this critical mineral used in batteries for electric vehicles and other technologies. The plant's opening signals the growing demand for lithium as the world transitions towards cleaner energy sources.
🌎 BYD's Global EV Push: Chinese electric vehicle giant BYD is undeterred by market slowdowns and trade tensions, opening a new factory in Thailand as part of its ambitious global expansion plan. This move signifies the growing demand for EVs worldwide and highlights BYD's commitment to becoming a dominant player in the global EV market.
⚡ Nuclear's Price Stability Advantage: Proponents of nuclear power are emphasizing its stable pricing as a key advantage in the ongoing energy debate. Unlike renewable energy sources like solar and wind, which can be subject to price fluctuations due to weather patterns and other factors, nuclear power offers more predictable and consistent energy costs over the long term.
⚡️ Simulations Provide Models for a Resilient and Sustainable Electric Grid: Researchers at the University of Texas at Austin are developing sophisticated simulations to optimize the performance and longevity of electrical grids. These simulations are crucial for designing more resilient and sustainable energy infrastructure to handle the increasing demand for electricity, integrate renewable energy sources, and withstand disruptions from extreme weather events.
💡 Microgrids Empower Communities: Small-scale, localized electricity grids known as "microgrids" are gaining popularity, particularly in Australia. These microgrids, often powered by a combination of renewable energy sources and energy storage systems, offer greater resilience and energy independence for communities, particularly those in remote or disaster-prone areas.
🚗 EU Slaps Tariffs on Chinese EVs: Trade tensions between the EU and China escalate as the EU imposes significant tariffs on imported Chinese electric vehicles. The EU argues that these tariffs are necessary to counter unfair subsidies provided to Chinese EV manufacturers, which they claim distort the market and harm European competitors. This trade dispute underscores the complexities of the global EV market and the challenges of balancing economic competitiveness with environmental goals.
🔋 LG's Battery Breakthrough? LG Energy Solution is aiming to commercialize a game-changing battery technology by 2028 that could shake up the electric vehicle industry. While details are scarce, this technology is rumored to involve solid-state batteries or a significant advancement in lithium-ion battery technology, potentially giving LG a competitive edge over rivals like Tesla and Chinese battery manufacturers. This will give LG a strong edge in a time marred by intense competition in the EV battery market and the race to develop safer, more efficient, and longer-lasting batteries.
🇨🇳 Chinese EVs Disrupt Australia: The influx of affordable Chinese electric vehicles is transforming the Australian car market. Chinese brands like BYD and MG are gaining market share by offering competitively priced EVs with attractive features, putting pressure on established automakers to accelerate their own EV offerings. However, this shift also raises questions about the long-term implications for the Australian auto industry (and their competitiveness as well as self-sufficiency going forward) and supply chains.
☀️ What fuel made from the sun could do for the planet: This article delves into the potential of solar-derived fuels, also known as solar fuels, to transform energy production and significantly reduce our reliance on fossil fuels. Solar fuels, created using solar energy to convert water and carbon dioxide into hydrogen, methane, or other fuels, offer a promising pathway to a more sustainable and carbon-neutral energy future.
☀️ Producing fuels from 1,500 degrees of solar heat: world’s first plant opens in Germany: Germany takes a major step towards sustainable fuel production with the inauguration of the world's first plant capable of producing fuels using concentrated solar heat. This groundbreaking facility uses an array of mirrors to focus sunlight, generating intense heat that drives chemical reactions to produce hydrogen and other fuels.
☀️ From daytime irrigation to selling surplus energy: Optimizing the use of solar energy in irrigation communities: This piece explores the transformative potential of solar energy in revolutionizing agricultural practices, particularly irrigation. By powering irrigation systems with solar energy, farmers can reduce their reliance on fossil fuels, lower operational costs, and even generate surplus energy for sale back to the grid.
🏁 NASCAR Goes Electric: In a surprising but welcome move towards sustainability, NASCAR, the iconic motorsports league, has unveiled its first-ever electric race car. This move signals a potential shift in the traditionally fuel-guzzling world of motorsports towards embracing cleaner and more sustainable technologies. While it remains to be seen how this electric vehicle will perform on the track, it represents a symbolic step towards a greener future for the sport.
And there you have it! Until next time.