Abstraction With Hunter Watkin
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- Business
If you’re interested in hearing how the world’s biggest problems are being tackled with tech, join Hunter Watkin as he learns out in the open with leading entrepreneurs, investors and experts who are building, funding and working with emerging technologies to change the way we live.
In each episode, Hunter and his guests break down what currently exists as opposed to what is aspirational when it comes to emerging tech, bringing to light the ways that people and companies are overcoming the obstacles that lie ahead.
Hunter is an investor at VC firm, Rampersand. Contact: hunter@rampersand.com
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S2: Carbon | E10: Is net zero a first-order problem?
Show Summary |
It's June 2023. You’re the Founder, CEO, or CFO of a company, and are under pressure to increase operating efficiency. How does carbon-related technology stack rank in priority against other items of expenditure?
I flipped the script and became interviewee for episode 10 of this carbon-focused series, sitting down with my colleague Abhi to talk about the progress made by Australia’s best carbon tech entrepreneurs and investors.
It’s a 30-minute birds-eye view of what I’ve uncovered through chats with Alex, Olympia, Charlie, Hannah, Katherine, Tegan, Mick, Anastasia, Mike, and James.
We discuss building an investment thesis on carbon, first-order problems, and the common traits of successful founders and companies.
Timestamps |
0:00 - Intro
1:00 - Abhi’s background and show overview
3:00 - How we think about building conviction in an area of technology
5:30 - Mapping the relationship between carbon and commercial problems
7:30 - Guests and the problems they solve
9:00 - Do businesses put their money where their mouth is with climate?
12:00 - Who feels the pressure of net zero targets?
14:30 - Where do the biggest opportunities lie in carbon markets?
17:00 - Challenged preconceptions
22:00 - Key traits of successful companies and founders
29:30 - Getting in touch with Hunter, Abhi and Rampersand
Series Guests |
Alex - https://www.linkedin.com/in/alex-logan-cecil/
Olympia - https://www.linkedin.com/in/olympiayarger/
Charlie - https://www.linkedin.com/in/charlie-macdonald/
Hannah - https://www.linkedin.com/in/hannah-mourney/
Katherine - https://www.linkedin.com/in/katherinemcconnell1/
Tegan - https://www.linkedin.com/in/tegan-nock-a4079499/
Mick - https://www.linkedin.com/in/mliubinskas/
Anastasia - https://www.linkedin.com/in/anastasia-volkova1/
Mike - https://www.linkedin.com/in/mikezim/
James - https://www.linkedin.com/in/jamesallston/ -
S2: Carbon | E9: James Allston – How software is driving the clean energy transition
Show Summary |
Episode 9 of this carbon-focused series is with Orkestra Co-Founder, James Allston.
Solar and batteries often provide a significant financial return when used in a commercial setting. However, James has little faith that with current software, humans can deploy clean energy at the level required to prevent our planet from warming a further 1.5 degrees.
That’s why three energy experts, James, Chris, and Michael, created Orkestra. Orkestra makes understanding the financial return on solar and battery projects incredibly easy, before helping businesses sell, install, track, and optimise these projects into the future.
Tune in to hear about the Orkestra solution and James’ hot takes on what the immediate future looks like for Australian and global businesses that rely on public energy markets.
Timestamps |
2:00 - Orkestra’s beginnings
7:00 - why Orkestra was born from people saying James’ consulting service was too expensive
9:00 - The tradeoff between educating customers and building a true product-led software business
12:00 - How does Orkestra fit into carbon markets and what impact does it actually have
14:30 - Orkestra’s customers and who benefits
17:30 - The value of in-front-of-the-meter, neighbourhood and behind-the-meter batteries
25:00 - Where in Australia is the best place to install solar at the home
28:00 - Impact of Russia / Ukraine on electricity prices here in Aus and why AEMO shut our energy markets down
30:00 - why pricing volatility and the movement to renewables actually drives a greater commercial pressure to adopt decentralised energy technology
38:00 - Orkestra’s focus on scope 1 and 2, and James’ thoughts on scope 3
40:00 - James’ perspective on what matters most to being a successful founder
Connect |
James’ Linkedin - https://www.linkedin.com/in/jamesallston/
Orkestra website - https://www.orkestra.energy/ -
S2: Carbon | E8: Mike Zimmerman - Funding Australia’s best deep tech
Show Summary |
Main Sequence partner Mike Zimmerman has an unrivalled Aussie climate tech investment CV. Notably, he’s an investor in companies founded by two previous podcast guests Anastasia (Regrow) and Tegan (Loam).
He has been a founder and led three venture-backed companies in AU/US, and reflects candidly in this episode on the mistakes he made as a founder, applying this to today’s capital raising environment.
We cover why Main Sequence warms to and is uniquely positioned to fund deep tech, why it has made certain investments, their unique ‘venture science’ model for supporting startups, and where Mike sees greatest opportunity for Aussie carbon tech solutions.
Timestamps |
1:30 - Mike’s journey to partner at Main Sequence
7:00 - Battle scars and lessons learned from founding Building IQ and working in a grow at all costs startup
8:30 - How Main Sequence invests and its unique love of deep tech
11:00 - Investing alongside government
12:00 - Working with the CSIRO
13:30 - Main Sequence’s unique practice of venture science
16:30 - Investing in the world leader for helping food companies source sustainable agriculture
20:00 - Investing in Loam Bio
24:00 - Where Main Sequence is spending a lot of its time deep diving
29:30 - Why Mike thinks Australia is a special place to launch climate tech companies
Connect |
Mike’s email - mike@mseq.vc
Mike’s Linkedin - https://www.linkedin.com/in/mikezim/
Main Sequence website - https://www.mseq.vc/ -
S2: Carbon | E7: Anastasia Volkova - Demistifying the ‘black box’ of supply chain emissions in agriculture
Show Summary |
Episode 7 of this carbon-focused series is with Anastasia Volkova, the founder of Regrow Ag.
Despite being the industry that manages and nurtures land, agriculture emits between 11 and 25% of global greenhouse gas emissions. Regrow uses a combination of remote sensing and ground truth data to help brands drive carbon insetting projects with upstream farmers and suppliers working on the land.
Anastasia’s remarkable story spans starting her business while completing a PhD, a very important acquisition that led to finding product-market fit, and more recently raising capital while her home country of Ukraine was invaded. Enjoy 7 years of insight packed into a 40-minute conversation on what businesses that rely on agriculture really need in order to mitigate climate risk in their supply chains and how it can be done in a scalable way.
Timestamps |
1:30 - Why businesses are the sustainable drivers of change and not-for-profits are limited in enacting enduring change
4:30 - The macro problem Regrow is addressing
5:00 - The problems of excess synthetic fertiliser on farms and why it exists
8:00 - Why you cannot manage without measurement
10:00 - Why you need a mix of ground truth, satellite and other tech to measure empower real-time decision making
14:30 - How brands using Regrow encourage adoption of the solution by farmers
18:30 - How Regrow helps customers understand and improve scope 3 emissions
23:30 - Why aggregate measurement of scope 3 rather than perfect, contract-level traceability of emissions is actually better
28:00 - Regrow’s biggest challenge: finding product-market fit
30:00 - The trade off between short-term v long term gains as a climate tech startup
34:30 - Regrow’s early adopters and bullseye Ideal Customer Profile
36:30 - Capital raising for Regrow as Ukraine was invaded
41:30 - What Anastasia will be doing when she retires
Connect |
Anatasia’s Linkedin - https://www.linkedin.com/in/anastasia-volkova1/
Regrow’s website - https://www.regrow.ag/
Anastasia’s recent blog on scope 3 -
https://www.linkedin.com/pulse/scope-3-spotlight-climate-action-anastasia-volkova-phd -
S2: Carbon | E6: Mick Liubinskas - The godfather of Australian climate tech
Show Summary |
Episode 6 of this carbon-focused series provides a bird's-eye view of the local climate tech ecosystem with the help of Climate Salad founder and local angel investor @Mick Liubinskas
We map the solutions to climate problems across the reduction and removal of emissions, adapting to our changing environment, and improving how we interact with nature.
Mick also explains why he believes that most Australian climate tech startups are fundamentally undervalued.
PS: Mick’s claim to superstardom is that he came up with the name ‘Startmate’. 😯
Timestamps |
2:30 - Mick’s background and going all in on Climate tech
4:30 - Climate Salad and climate tech angel investing
9:00 - The climate tech industry map and the four categories of impact
12:00 - Why corporates are investing directly in carbon reduction and removal solutions
15:00 - How corporates looking to understand and act on their scope 3 emissions
18:00 - Why climate problems can’t be solved with software alone
21:00 - What drives Mick’s assessment of investment opportunities
26:00 - What red flags to watch out for when it comes to climate tech investors
31:00 - Products helping corporates on the demand side of carbon markets
37 :00 - Mick’s new fund and helping climate tech companies expand internationally
39:30 - Getting involved with Climate Salad and connecting with Mick
Company Mentions |
Cecil - https://www.cecil.earth/
Emmi - https://www.emmi.io/
Enosi - https://enosi.energy/
Goterra - https://goterra.au/
Loambio - https://www.loambio.com/
Regrow - https://www.regrow.ag/
Ripe Robotics - https://www.riperobotics.com/ -
S2: Carbon | E5: Tegan Nock - The carbon-eating fungus for farmers
Show Summary |
In episode 5 of this carbon-focused series, we hear from former farmer and Loam Bio founder Tegan Nock. Loam Bio is introducing a “gateway drug” that gets growers hooked on building stable soil carbon into their cropping systems.
Fresh off a A$105 million Series B raise, Tegan shares how a simple seed coating could deliver a significant revenue opportunity for farmers while helping solve the problem of excess atmospheric carbon around the world.
We chat about what motivates farmers, carbon insetting, and why Tegan thinks farmers need to be careful about who they deal with when it comes to carbon credits.
Timestamps |
01:30 - Tegan’s background and the origin story of Loam Bio
4:30 - Macro problem
5:30 - The product(s) and how they are used
8:30 - Commercial incentive to use Loam Bio for farmers
11:00 - What does “stable” carbon mean and why does it matter
13:30 - The administration and requirements to convert stable carbon sequestration into a carbon credit
17:30 - Raising A$105m, traction to date and immediate goals
20:00 - The time it will take to prove the power of the ‘perfect’ fungus
25:00 - The things people try to get farmers to do on their farms
29:30 - Biggest problem in carbon markets
31:00 - Carbon insetting and ensuring farmers are careful of entering carbon credit contracts with companies
35:00 - Biggest wins
36:30 - Life outside Loam Bio
Connect |
Tegan’s Linkedin - https://www.linkedin.com/in/tegan-nock-a4079499/
Tegan’s Twitter -https://twitter.com/TeganNock
Loam Bio Website - https://www.loambio.com/