We all know that no single investment strategy—and no single asset class—is going to fund the climate innovation we need on its own. Moving real solutions forward takes multiple tools working together. That’s why I’ve long been drawn to catalytic capital and blended finance—using philanthropy to unlock risk-taking and bring more and different kinds of investors along. That’s what drew me to the work of Elemental Impact and Earthshot Ventures, two organizations founded by Dawn Lippert that are designed to move critical climate technologies from early validation to scale. Elemental uses philanthropic capital to de-risk and accelerate early solutions—but for those solutions to reach real commercialization, venture and private markets have to follow. That’s where Earthshot Ventures comes in, investing early in companies with a strong “why now.” Together, they direct capital into consequential companies to create impact at scale. In this episode, we’re joined by Dawn, along with Matt Logan, General Partner at Earthshot Ventures. We talk about how Elemental and Earthshot work together in practice, real examples of the companies and projects they’re backing, a new and innovative investment structure they’ve pioneered, and where they see climate investing headed in 2026—and beyond. This conversation kicks off a new deep dive series with Elemental Impact. Stay tuned for more, and if you’d like to find or propose future series ideas, reach out to us through our website. What You’ll Learn The Power of Catalytic Philanthropy: How a "slice" of philanthropic capital can act as the nucleus for a project, bringing in banks, corporates, and infrastructure funders.The dSAFE Innovation: How Elemental adapted the Y-Combinator SAFE note into a "Development SAFE" to reduce transaction costs and provide non-dilutive capital for early projects.Community-Led Scaling: Why the "human" half of the solution—customers, cities, and communities—is just as essential as the technology itself for climate tech to succeed in the real world.A VC Lens on Climate: How Earthshot operates as a returns-focused venture fund that only backs climate-positive companies, uses a proprietary outbound-sourcing engine to find founders before they’re fundraising, and targets “cheaper, better, faster—with greener as a co-benefit” business models.The 2026 Investment Frontier: Why Earthshot is doubling down on Space Tech for remote agriculture and wildfire monitoring, and why Robotics is a top category to watch for automating "dull, dirty, and dangerous" climate jobs.A Unique Partnership Model: How a service agreement and shared revenue between a non-profit and a VC fund creates a sustainable ecosystem for innovation. In today’s episode, we cover: 02:48 2025 temperature check05:39 Why Dawn started Elemental and then Earthshot07:39 Matt’s background and path into climate VC09:49 Earthshot’s thesis and sourcing–picking–winning–helping11:15 How Elemental and Earthshot are structurally linked13:34 Philanthropy, donor-advised funds, and recycling returns16:09 Nitricity case study – low‑carbon fertilizer18:21 The Development SAFE (dSAFE)21:31 Earthshot portfolio highlights – KoBold Metals, Etched & SuperCircle27:01 Workforce, community, and local impact30:31 Fervo Energy case study – rural apprenticeships33:46 Policy as alpha in AI, mining, and space35:48 2025 turbulence, donors, and investor caution38:00 Moving beyond solar/wind/EVs in philanthropy38:57 Mining, metals, and transition tradeoffs41:03 2026 outlook – AI, infrastructure, space, and robotics47:49 Optimism and “Audacity” for 2026 Resources Mentioned Elemental ImpactEarthshot VenturesNitricity – Low‑carbon, renewable-powered nitrogen fertilizerKoBold Metals – AI-powered mineral exploration for the energy transitionEtched – AI accelerator chips built specifically for transformer modelsSuperCircle – Circular logistics and recycling infrastructure for apparelFervo Energy – Next‑generation geothermal power developerHubble Network – Satellite network enabling direct-to-space Bluetooth connectivityARPA‑E (Advanced Research Projects Agency–Energy)International Energy Agency (IEA) Advanced Microgrid Solutions – Distributed energy storage Connect with Us Dawn LippertMatt LoganJason Rissman Elemental Impact Website: https://elementalimpact.com/Linkedin: https://www.linkedin.com/company/elementalimpact/ Earthshot Ventures Website: https://www.earthshot.vc/Linkedin: a...