Siste episoder av Redefining Energy podcast

1. 188. US/Petrostate vs EU/Electrostate – a joint episode with Open Circuit28.07.2025 (00:32:08)

   On July 7th, Gerard and Laurent were invited to appear on the U.S. podcast Open Circuit, alongside Jigar Shah, Katherine Hamilton, and Stephen Lacey. It was an emotional reunion—Jigar and Katherine were part of the original Energy Gang, the very show that inspired us to create our own.We had a rich, two-part conversation. The first part revisited the Spanish blackouts, a topic we had already explored in Episode 185. The second part delved into Europe’s energy security and the evolving dynamic between “Petrostates” and “Electrostates”—the main focus of this episode.Twenty years ago, Europe and the U.S. shared a broadly aligned energy landscape. But the rise of American energy dominance has since driven a wedge between the two, contributing to today’s political fractures across the Atlantic.Together, the five of us explored the implications of this growing misalignment—and where we might go from here. It was a passionate and thought-provoking discussion.

2. 187. Texas: Power Surge or Power Splurge? - Jul2521.07.2025 (00:26:25)

   Texas is an oddity in the western electricity world: fastest growing load, ultra-low prices, crazy development of renewables. Texas consumes now more power than France, despite having only half the population. Prices are a factor 4 lower compared to 20 years ago. And 90% of additional load has been provided by Wind and Solar, despite the permanent attacks from the fossil fuel lobby.To make sense of the current situation in Texas, and also talk about the future, with unbelievable projections, full of AI and Datacentres, we have the pleasure of welcoming Arushi Sharma Frank.Arushi Sharma Frank is an energy policy expert with deep expertise in distributed energy resources (DERs) and virtual power plants (VPPs). She pioneered ERCOT frameworks for grid-integrated VPPs and the integration of batteries on the Grid, while at Tesla where she worked between 2020 and 2024. Arushi was a key architect of the Texas Public Utility Commission’s Aggregated DER pilot, enhancing grid resilience post-Winter Storm Uri.  The Lone Star State is at the crossroads: will the additional load arrive? Are the renewables in danger? Can fossil fuels make a come-back, or are we seeing this wrongly, as the new model suggest that it is all about flexibility.Finally, the best source for information on renewable energy in Texas is Doug Lewin: www.douglewin.com

3. 186. Power under Pressure: Fortum’s CEO on Datacenters’ growth and Russian Attacks (Eurelectric)14.07.2025 (00:24:31)

   Laurent had the pleasure and privilege of sitting down with Markus Rauramo, CEO of Fortum, during the Eurelectric “Power Play” conference in Brussels this June.  Fortum, the Finnish energy company also active in Sweden and Poland, finds itself right on the front line when it comes to tensions with Russia—not exactly your average utility boardroom drama.   The conversation kicks off with Markus’s recent election as President of Eurelectric, taking over from none other than Leo “the Great” Birnbaum, CEO of E.ON.We talk about the challenges Markus has faced so far, including how Fortum managed to steer through the stormy waters of the Ukraine war, and what’s ahead for the industry. Spoiler: it’s not all doom and gloom—there’s strategy, resilience, and some surprisingly good teamwork. Markus rolls out Eurelectric’s Manifesto centred on customers, security of supply and digitisation (AI).  Markus introduces his vice-presidential duo: Georgios Stassis (CEO of PPC) and Catherine MacGregor (CEO of Engie). According to him, it’s a well-balanced trio—think energy world’s version of the Avengers, but with spreadsheets and grid stability. He also gives kudos to Kristian Ruby, Secretary General of Eurelectric, and the Brussels team for their stellar behind-the-scenes work.The chat then shifts to the Baltics, one of the rare places in Europe where electricity demand is actually growing. Fortum’s been ahead of the game there too: Markus reveals they now have over 1.3 GW of capacity lined up and ready to power new datacenters.Of course, we couldn’t ignore the constant cyber-attacks and sabotage attempts coming from Russia. Markus shares how Fortum has learned to deal with them—let’s just say they don’t flinch easily anymore.  And finally, a public mea culpa: Laurent repeatedly referred to Finland as part of Scandinavia. A common slip-up. For the record: Finland is next to Scandinavia, but it’s not in it. The Finns are Nordic, not Scandinavian—but much like their neighbours to the west, they handled the mix-up with trademark cool. No sauna ban issued.  We thank Kristian Ruby and all the Eurelectric team for organising this recording and putting together such a great summit.

4. 185. Blackouts - Jul2507.07.2025 (00:24:50)

   What Really Happened During the Iberian Blackout This Spring? And How Should We Make Sense of the Conflicting Reports?  To shed light on the events, Gerard and Laurent are joined by global energy expert Steve Berberich, who served as President and CEO of the California Independent System Operator (CAISO) from 2011 to 2020. Steve led CAISO through the August 2020 blackout in California and now serves as President and CEO of Onward Energy.  We begin by placing the Iberian blackout in a broader context—comparing and contrasting it with major grid failures from recent years: South Australia 2016, California 2020, Texas Uri 2021, Ireland 2024, Louisiana 2025 and of course Iberia 2025.  We examine both the long-term systemic weaknesses and short-term triggering events behind each case—identifying patterns, divergences, and the reforms that followed in their aftermath. Then we turn our full attention to Spain.   Unlike the other blackouts, the Iberian event did not stem from extreme weather. Instead, Steve—along with Gerard and Laurent—dives deep into the underlying structural vulnerabilities of the Spanish grid.  From regulatory gaps and design flaws to operational mistakes, we scrutinize the entire system and arrive at a set of clear, evidence-based conclusions.  Link to Gerard’s substack https://www.linkedin.com/pulse/spains-grid-blame-blackouts-bureaucracy-gerard-reid-tiqre/  Link to the Energy Institute Report https://www.energyinst.org/statistical-review

5. 184. Market dynamics and Pricing of Battery Materials - Jun2522.06.2025 (00:33:18)

   Six years ago, Simon Moores, CEO of Benchmark Minerals Intelligence shook the world in a now legendary testimony in front of the US Senate. Then, Simon predicted the exponential growth of batteries and the control that China was starting to exert of the supply chains.Fast forward today, we bring in, Caspar Rawles, Simon’s trusted lieutenant, and COO of Benchmark Mineral Intelligence to assess how Simon’s predictions panned out. What was prophetic and what never materialized. Benchmark Mineral Intelligence, a London-based Price Reporting Agency (PRA) founded in 2014, specializes in lithium-ion battery and EV supply chains, offering IOSCO-accredited price assessments, supply-demand forecasts, ESG analytics, consultancy, global events, and policy influence.It focuses on critical minerals and recently expanded with Rho Motion, valued at $500M. Caspar talks about the growth of BMI, about the importance of its agreement with ICE, and how he sees the future.Laurent and Gerard conclude on Lithium and Rare Earths. Not really what you expect.

6. 183. Energy Security from the front line: Eastern Europe and Renewables - Jun2515.06.2025 (00:27:24)

   Laurent remembers vividly his trip to Sofia Bulgaria in winter 2009 when the Russians had cut the gas for Bulgaria during a -15C winter. Russia was already playing hard ball because of (guess what) a financial disagreement with Ukraine. The blackmail lasted 3 weeks, and the poor Bulgarians were cutting the trees from their equivalent of Hyde Park or Central Park not to freeze to death.    Lots of progress has been made since then, and Eastern Europe is an emerging bright spot of development for Renewables. It is not just about Economics but also about Security of Supply. We bring in Dimitar Enchev, Cofounder & CEO Europe at CWP - a global renewable energy company, behind some of the largest projects in Southeast Europe.  CWP has been active since 2007 and developed the largest projects in Serbia, Bulgaria, Romania, including Europe’s largest onshore wind farm for 10 years – a 600MW project in Romania and has now partnered with Mercuria, one of the largest energy trading houses in the world. They discuss how Eastern Europe felt the largest blunt of Russia’s Energy War and how they have been accustomed to living, surviving and thriving with a hostile and aggressive neighbour, always prompt to weaponize energy. Is Europe “bringing a knife to a gunfight” when it comes to countering Russia?We explain how opportunities have risen from this difficult environment and how the decorrelation of wind and solar between the East and West of the Continent, and a continuous integration with the global European Grid creates significant investment opportunities. It is about Transmission, Resilience, Hybridization and digitization.

7. 182. Broken grids and Datacenters load growth - Jun2509.06.2025 (00:32:15)

   We have recently witnessed spectacular black outs: South Australia 2016, Texas Uri 2021, California 2020-21-25 and Iberia 2025. We are not even mentioning fragile grids in the Global South.  We will do an episode on those blackouts later this year.The U.S. electrical grid, now over a century old, struggles to meet modern demands. Utilities are slow to adapt, and supply chains are congested, posing challenges for accommodating new load developments like datacenters and AI while ensuring reliable, affordable power for existing customers.Jereme Kent, an engineer with practical expertise, is tackling these issues head-on. As the leader of One Power (an Ohio-based industrial power company) Kent champions customer-centric, decarbonized power grids. One Power delivers innovative, renewable-focused energy solutions, empowering industrial clients to manage costs and emissions through on-site wind power, EV charging hubs, and other advanced infrastructure. This approach challenges the outdated utility model, embodying a "Utility 2.0" vision.A key innovation lies in transformer design: shifting from bespoke to modular, standardized systems to enhance efficiency and scalability. Kent also highlights the advantages of renewable energy, noting that power purchase agreements (PPAs) for renewables can extend up to 20 years, compared to just three years for gas. Additionally, small behind-the-meter batteries play a critical role in stabilizing energy supply and optimizing costs.Digital tools and software are another focus, where Kent offers unexpected insights, emphasizing practical, streamlined solutions over complex systems. He points to SMUD, a progressive utility in Sacramento, California, as a model for grid management. SMUD’s forward-thinking strategies have yielded impressive results, setting a benchmark for others to follow.In the realm of transformer technology, Kent advocates for "dumb simplicity," inspired by the German motto “Stumpf ist Trumpf” (simple is best). Surprisingly, he notes that animal interference, such as birds, is a leading cause of transformer failures, underscoring the need for robust, straightforward designs.To borrow from the Rolling Stones, “You can’t always get what you want, but you might just get what you need.” Kent’s pragmatic innovations are paving the way for a resilient, sustainable energy future.    We thank Abloco Energy, premier European lessor of mobile batteries, for supporting the show.

8. 181. “Hot Air” from Tony Blair - May2526.05.2025 (00:20:09)

   The Tony Blair Institute for Global Change (TBI) recently released a widely publicized report titled “The Climate Paradox”, which has garnered significant positive attention from outlets such as the Guardian, the BBC, the Financial Times, Bloomberg, and much of the European press.Beginning with the statement, “Climate action has reached an impasse,” the report, authored by Lindy Fursman (who holds a PhD in Sociology from UC Berkeley), outlines several key “facts” that have been effectively debunked by experts like Michael Liebreich in his Substack and Michael Barnard in Cleantechnica.The TBI concludes with a series of recommendations, the most prominent being the call to “accelerate and scale technologies that capture carbon, alongside significant investments in engineered carbon-dioxide removal technologies, including direct air capture (DAC) solutions”. To emphasize this message, the cover of TBI’s report features an image of Climeworks’ plant in Iceland. Climeworks, a Swiss engineering company with 500 employees, has received $800 million in equity and subsidies from major players such as Partners Group, the GIC (Singapore’s sovereign wealth fund), Baillie Gifford (an early investor in Tesla), Swiss Re, and Microsoft.However, last week, Climeworks faced a major setback when it was revealed that despite receiving substantial funding, the company had only captured 105 tonnes of CO2—not 105,000, but just 105 tonnes (less than a single flight London – New York) —despite the strong backing of tech giants like Stripe, Microsoft and Shopify.This revelation has sparked widespread concern and warranted a prompt discussion with Laurent Segalen, Gerard Reid and Michael Barnard to assess the implications. The conversation will explore the credibility of the TBI’s stance on energy, the broader potential of DAC, and whether this technology is, in fact, a case of "Deception, Amateurism, and Con."Links:Michael Liebreich substack:https://mliebreich.substack.com/p/why-tony-blair-needs-to-reset-hisMichael Barnard Cleantechnicahttps://cleantechnica.com/2025/05/05/tony-blairs-new-climate-reset-report-promotes-delay-not-action/https://cleantechnica.com/2025/05/15/climeworks-dac-fiscal-collapse-the-brutal-reality-of-pulling-carbon-from-the-sky/

9. 180. The KKR Energy formula - May2519.05.2025 (00:27:26)

   KKR is a Private Equity giant whose involvement in the Energy/Infrastructure sector has grown bigger over the decades. Energy/Infrastructure investments now represents approx 10% of their global Asset under Management of c.700bnUSD.KKR’s approach combines several strategies which are developed in different vehicles from run of the mill yield funds to more risky platforms. Since the beginning of the decade, KKR has invested billions in the acquisitions of assets in the sector (Zenobe, Avantus, Albioma, Contour Global, Actis, Ignis, SMS, Acciona, Encavis, EGC, Eni biofuels) plus a special agreement to develop AI with ECP.Laurent and Gerard have the pleasure and privilege to invite Emmanuel Lagarrigue, Partner and co-head of Global Climate at KKR, who co-runs this global effort. Prior joining KKR in 2022, Emmanuel had a 27 years stellar career at Schneider Electric where he ended up leading the Group Strategy. Under his tenure, Schneider Electric’s shares grew tenfold.What is KKR’s strategy, how can it provide returns in this volatile environment, how to foster synergies inside its portfolio, where are the next big trends they are looking at? Emmanuel also discusses how private markets and public markets differ when it comes to asset valuations, how to deal with volatility, how much energy growth will be triggered by datacenters and finally what he thinks about Hydrogen and ”Green Premiums”.A ”tour de force” from one of the most prominent Energy investor on the planet.

10. 179. The future of the Auto Industry: Winners, challengers and zombies - May2512.05.2025 (00:31:15)

    On one hand, tariffs are causing significant disruption in the global automotive industry. On the other, the electric vehicle (EV) market continues to surge, seemingly unaffected. According to the latest Q1 2025 data from Rho Motion, 4.1 million EVs were sold globally in Q1 2025—a 29% year-over-year increase compared to Q1 2024. Growth is particularly strong in China (+36%), followed by Europe (+22%) and North America (+16%).To help make sense of these opposing dynamics—and to assess which OEMs are likely to lead or fall behind—Laurent and Gerard have brought in a top-tier expert: Michael J. Dunne. Michael is the CEO of Dunne Insights LLC, a San Diego-based firm specializing in electric vehicles, autonomous driving, and battery supply chains. With over three decades of experience, Michael has held prominent roles including President of General Motors Indonesia and Managing Director of JD Power China. He is also the author of American Wheels, Chinese Roads (2011), and the host of the podcast Driving With Dunne.Key Insights from Our Conversation:China: BYD reigns supreme, followed by legacy brands, tech giants, and emerging players.Japan: Toyota, the shogun of the market, stands tall—while the rest struggle to keep up.Korea: A tale of strong potential under threat.Germany: VW appears stuck in reverse, Mercedes feels increasingly "Chinese," and BMW navigates a narrow path.USA: Stellantis, Ford, and GM—industries in limbo, often described as “zombies.”The Wild Card: Tesla. With Elon at the helm, anything is possible—genius or chaos.Across all regions, we forecast who the likely winners are, who may barely survive, and who seem destined for the dustbin of history.

11. 178. Delivering the Wind Reset - May2505.05.2025 (00:26:25)

    Laurent and Gerard sit down for an in-depth (and at times fiery) conversation with Ben Backwell, Chair of the Global Wind Energy Council (GWEC), to unpack the current state of the wind industry. Ben joins from Brazil, where preparations for COP30 are already underway.As GWEC has just released its flagship Global Wind Report 2025—a must-read for anyone serious about the energy transition—they reflect on wind power’s progress. While the sector has continued to grow, it's been outpaced by solar and storage, grappling with supply chain bottlenecks, technical hurdles, and an all-out culture war driven by fossil fuel interests and political headwinds.The discussion covers the recent struggles of the U.S. offshore wind sector.We also dive into China’s meteoric rise, now dominating two-thirds of the global wind market with players like Goldwind, Envision, Windey, and Mingyang—now surpassing Western stalwarts such as Vestas, Siemens Energy, and GE Vernova.Despite the noise and negativity—what Laurent refers to as “the enemies of freedom”—there’s reason to stay hopeful. Wind remains a cornerstone of clean, secure, and locally sourced energy in many regions.Check out the full Global Wind Report 2025 from GWEC here: https://www.gwec.net/reports/globalwindreport

12. 177. The Transatlantic Power Cable: from concept to reality - Apr2528.04.2025 (00:35:30)

    There's been a great deal of excitement and curiosity surrounding the idea of a Transatlantic Interconnector. So, as co-founders, Laurent Segalen, Gerard Reid and Simon Ludlam have decided to release a special episode to bring our listeners up to speed on where things currently stand.While we can’t dive into our discussions with governments and system operators—those are protected by NDAs—rest assured, those conversations are very much underway, as you might expect. To put this episode together, we have brought in a range of perspectives:First, you'll hear an excerpt from a conversation with John Pettigrew, CEO of National Grid, on the Aurora Unplugged podcast last October, where he discusses the potential of ultra-long interconnectors.Next, we feature an interview with Laurent on the Jolts podcast from this February.That’s followed by a deep dive into the technical aspects with Cornelis Plet, Global Head of HVDC at DNV.We then explore the legal landscape with Silke Goldberg, partner at Herbert Smith Freehills and one of the world’s foremost legal experts in this area.And finally, we wrap up with a conversation between the three co-founders, where Simon Ludlam lays out the key steps ahead in the coming months and Gerard engages with investors.We hope this gives you a clearer picture of what has been accomplished so far—and what lies ahead on this ambitious journey.A lot of information, reports and data are available on www.nato-l.org

13. 176. Renewables are dominating the Electrification of an Energy-hungry world (with Ember) - Apr 2514.04.2025 (00:31:19)

    As we start receiving data for the year 2024 in terms of Energy Production and Consumption, it is time to have a forensic analysis of the global Energy Complex in 2024.Last month we had the always comprehensive IEA Global Energy Review, and now to go deep into Electrification, we just received the Ember's sixth Global Electricity Review. We brought in two of its three authors: Dr Katye Altieri and Nicolas Fulghum to discuss the main finding. We’re sorry Euan Graham, the third author, could not join.Here are the key findings:Electricity growth is twice as fast as Energy GrowthThe world electricity consumption grew by the size of Japan (last decade it was annually the size of Brazil)80% of that additional demand is met by renewablesDemand drive is led by Cooling, Heating, Transportation and DatacentersWorld surpasses 40% clean power as renewables (incl. hydro and nuclear) see record riseSolar is the main driver of renewables growth, with generation doubling in three years And more findings in this comprehensive episode.Thank you, Ember Energy.Link to the report: https://ember-energy.org/latest-insights/global-electricity-review-2025/--------------Other reports mentioned during the show:IEA Report: https://www.iea.org/reports/global-energy-review-2025IRENA Report: https://www.irena.org/Publications/2025/Mar/Renewable-capacity-statistics-2025

14. 175. Capitalizing on the Infrastructure giants’ Blind Spots - Apr2507.04.2025 (00:29:39)

    Capitalizing on the Infrastructure giants’ Blind Spots: How can a specialised PE fund thrive under the new US Administration?The Energy Transition encompasses more than just power and AI. We have chosen to explore the niche yet crucial areas of waste gas, biofuels, sustainable aviation fuel (SAF), and emissions capture.At the heart of this journey is Cresta, a $2 billion specialist fund positioned at the intersection of Private Equity and Infrastructure. Chris Rozzell, the fund's Managing Partner, shares insights on how a fund focused on industrial sectors can thrive in underappreciated sub-sectors like mid-stream infrastructure—areas often overlooked by larger, more traditional funds.By adopting a strategy akin to a scavenger's approach, Cresta has capitalized on these opportunities. Chris also discusses the impact of the new US administration on his investment thesis and why choosing the Zag when everyone else is choosing the Zig has proven to be highly profitable.While the Energy Transition is multifaceted, it is also fraught with blind spots. Cresta stands as a prime example of how industrial expertise can drive meaningful decarbonization efforts.The discussion in this podcast is for informational purposes and should not be relied on as investment advice or an offer to sell or a solicitation for an offer to buy any securities. Any opinions expressed are those of the speaker and are subject to change. Listeners should not make investment decisions based solely on the information in this podcast.

15. 174. Live from Cambridge – Laurent and Gerard with Pr. David Cebon on Electrifying trucks31.03.2025 (00:30:42)

    Early March, Gerard and Laurent were invited by the Cambridge University Energy Technology Society (CUETS) for a live session of Redefining Energy.In front of hundreds of attentive students, they had a comprehensive debate with Pr. David Cebon about the Electrification of Trucks. What are the issues (technical, economic) and what are the proposed solutions from Electric roads to batteries?We enjoyed sharing with an enthusiastic crowd at St John's College, Cambridge and give a special thanks to Max Krefting for the flawless organisation.  A memorable evening for all participants.

16. 173. The politization of Critical Materials - Mar2524.03.2025 (00:33:28)

    The XXIst century economy will be powered by 'critical minerals' such as lithium, nickel, cobalt, and rare earths. China has spent the past 20 years building a dominant position across the supply chain for these metals.The rest of the world is finally waking up to the economic and geopolitical challenges that this presents and is actively trying to secure the supplies of critical minerals by creating non-Chinese supply chains.Gerard and Laurent sat down with Richard Tite, Chief Investment Officer of TechMet, a critical minerals investment company that is partially owned by the U.S. Government through a series of equity investments by the U.S. International Development Finance Corporation (DFC). TechMet’s portfolio currently includes 10 projects across North America, South America, Africa, and Europe, that produce, process, and recycle critical minerals.How does it work? What are the costs? Can China be countered? Does it succeed?Are Critical Minerals truly critical? They are certainly polarizing.

17. 172. The new age of Energy Security, Flexibility, and Resilience (with Eurelectric)17.03.2025 (00:24:37)

    Laurent welcomes Kristian Ruby, Secretary General of Eurelectric, to discuss Energy Security, Resilience and Flexibility though the impact of E-Mobility.Energy Security has become a critical issue, especially with the recent sabotage of undersea cables in the Baltic Sea by Russian and Chinese vessels, extreme weather events knocking out a third of the Irish Grid, and Russia’s ongoing attacks on Ukraine’s energy infrastructure.Kristian shares the story of his harrowing visit to a power plant in Ukraine, where DTEK engineers are bravely working through air raids every day to keep the lights on. The conversation expands to cover all aspects of Energy Security as we enter the Age of Electricity, exploring both cyber and physical measures that can be taken to protect energy systems.The discussion also touches on the latest advancements in E-Mobility, including how Vehicle-to-Grid (V2G) technology can provide additional security and offer consumers a chance to earn more revenue.Eurelectric represents a strong, forward-thinking industry that exemplifies resilience and solidarity in the face of challenges.  Join us at Power Summit Brussels 3 and 4 June to discuss those topics and many othersHome - Eurelectric Power Summit 2025

18. 171. PPAs and Tolling: lessons for the future - Mar2503.03.2025 (00:26:12)

    It has become a tradition to welcome Luca Pedretti, Co-Founder of Pexapark, to the show to discuss the evolving PPA market, especially now that Pexapark has released its annual State of the Market report.Laurent and Gerard are joined by Luca to highlight the key insights from this year’s findings:Corporate PPA demand remains stable, but with new entrantsMore deals, but smaller sizes: The number of transactions increased by 16% (+37 deals), even as total volumes declined.Innovative deal structures on the rise: Hybrid models, such as solar-wind PPAs, multi-buyer/portfolio arrangements, and cross-border agreements, are gaining traction, offering enhanced flexibility and risk-sharing.The continuous rise of 24/7 energy with the need to track and trade GoOsWe also delve into the topic of negative prices, capture prices, and their implications. The conversation extends to Pexapark’s predictions for 2025.Additionally, we explore the growing role of batteries, new tolling agreements, and their impact, along with how batteries are increasingly incorporated into PPAs.Finally, we turn our attention to the US market, discussing Pexapark’s first acquisition of a US company, Renewafi, marking a significant step in Pexapark’s american expansion.    Link to Report: https://pexapark.com/pexapark-renewables-market-outlook-2025/Link to Renewafi: https://www.renewafi.com/

19. 170. Why is the electricity Supercycle unstoppable? Gerard in Davos24.02.2025 (00:26:29)

    As urgent calls for climate change action continue, an energy supercycle is underway, driven by the increasing need for electrification and digitalization, particularly in high-growth sectors like AI and data centers. Securing a reliable, affordable, and sustainable energy supply to meet this demand is crucial.At the 2025 World Economic Forum Annual Meeting at Davos, Hitachi, Ltd. Executive Chairman Toshiaki Higashihara and Hitachi Energy CEO Andreas Schierenbeck, with Elisabeth V. Vardheim (Statnett) and Gerard Reid (Alexa Capital), participate in a panel discussion on 22 January 2025 to explore the parallels between today’s energy landscape and offer insights into how global stakeholders can drive change to address the climate crises.In summary, how to turn couch potatoes into ironmen.   Laurent’s conclusion is that Davos is a perfect microcosm to capture CEOs’ Zeitgeist. And when you hear a global consensus, like 4 years ago on Net Zero and Climate and this year on AI… then it is probably time to SELL.  This event is part of the Davos Accredited Programme. Full video here https://www.youtube.com/watch?v=vIXafAbc1gc

20. 169. 2025 State of play in the battery universe - Feb2517.02.2025 (00:29:34)

    2024 has been another exceptional year for the battery industry. We have invited Aaron Wade to discuss the various technological and economic aspects of this rapidly expanding universe. Aaron is a rising star in the battery world. Not only is a key member of the Volta Foundation, but he is also Business Development Lead at Gaussion, a U.K. start up that improves charging capacities in batteries.The Volta Foundation just released its monumental 516 pages report, covering industry, technology, research, government policy, standards. It is a must read for anybody in the industry.Link to the Volta Foundation report: https://volta.foundation/battery-report-2024With Aaron, we talk about the pivotal role of China, the evolution of the supply chain (do we have enough minerals? Spoiler Alert: Yes), the chemistries, the form factors, recycling and second life. We discuss industry consolidation among the leading suppliers. We dive into the rise of LFP, the divergence between EV and ESS industries, and the expected evolutions of technologies (sodium ion, solid state, semi solid state), Finally we debate about the prices of cells, packs and systems.A great conversation to assess the current state of play in this ultra dynamic sector.------------------------  Beside the Volta Foundation, the 2 must read reports which came out a few weeks agoEmber when it comes to Electricity European Electricity Review 2025Nat Bullard when it comes to Climate and Decarbonisationhttps://ember-energy.org/latest-insights/european-electricity-review-2025/https://www.nathanielbullard.com/presentationsAaron Wade is the Business Development Lead for Gaussion, enhancing battery performance through magneto-enhancement, and a project director for the Volta Foundation. He was previously the head of battery costs at CRU, helping clients understand the ever changing world of battery cost and technology. Aaron has a PhD from University College London, researching the degradation of battery chemistries using X-ray imaging.  Gaussion develop magnetic-enhancement components as a bolt-on for all batteries, unlocking faster charging and longer lifetimes. The solution is chemistry and form factor agnostic, and can result in up to 6x faster charging and up to 8x longer lifetimes.

21. 168. "Invest where it hurts!" - Laurent at Pexapark03.02.2025 (00:17:31)

    While Gerard Reid was at Davos, schmoozing with world leaders, Laurent Segalen was invited by Luca Pedretti on the Pexapark podcast. They had a conversation around where to invest in the Energy Transition. Laurent has designed a typology of possible investments from the least desirable to the essential. 1)      Aspirational2)      Shoehorn3)      Compliance4)      Profitable5)      SalvationLaurent describes his numerous investments and how this framework has helped him deliver consequential returns.

22. 167. The future growth of LNG - Jan 2527.01.2025 (00:33:13)

    As the price of gas and LNG (Liquified Natural Gas) becomes a key factor for the value of the world’s energy, we have decided to bring in a top gas expert to explain where the market is and how is it going to evolve.Seb Kennedy is a leading market analyst and Founding Editor of Energy Flux (www.EnergyFlux.news), an independent newsletter that analyses global gas and LNG markets through the lens of Europe's energy transition.We review the numerous phases that the market has faced since the beginning of the decade, COVID, post COVID, Russia-Ukraine. We delve into the incredible expansion of US Exports capacity, with 8 terminals now operational and a forecasted growth of another 50% by the end of the decade.We analyse how the market is inherently volatile, which make long term investment difficult but still inside a band. If the LNG gets too high, then consumers will switch; if it gets too low, then some capacity will be shelved.  We focus on Qatar, the world’s lowest cost producer, which will continue to grow no matter what. Seb anticipates a surplus in the coming years with massive extra capacities coming on the market from USA and Qatar. But the role of Iran and Russia, which hold the largest reserves, remain a huge uncertainty. Europe’s attitude towards LNG is a complex web of contradictions, between decarbonisation, security and affordability of supply, and global geopolitics.  In conclusion, a strategic source of energy, but difficult to apprehend.

23. 166. Green Equities Performance: Core vs Periphery - Jan 202513.01.2025 (00:30:28)

    For the first episode of 2025, Gerard and Laurent have the pleasure of welcoming Shanu Mathew. Shanu is a Senior Vice President at Lazard Asset Management and Portfolio Manager/Analyst on US Sustainable Equity.  We are going to analyse the performance of “Cleantech” Equities throughout 2024 and discuss what to expect for 2025. Let’s be honest: 2024 was an annus horribilis for “Core” Cleantech with major indices (S&P Global Clean Energy Index) down 20%. But 2024 was also an exceptional year for “Periphery” (or adjacent) Cleantech with companies like Siemens Energy and GE Vernova being star performers.Why such a divergence between “Core” and “Periphery”? What fundamentals are sustaining such trends? Beside interest rates, political uncertainties, competition of China, there are some green shoots that certain segments have better captured than others.And of course, we are talking about load growth and the rise of datacenters. A rising tide lift all boats, and Core Cleantech having been so much slaughtered in recent years due to past excesses, we foresee a positive rebalancing in 2025.Overall, a very vast panorama of how the market values the future of the Energy Transition.

24. 165. Our Predictions for 202502.01.2025 (00:27:03)

    Happy new year to all our listeners. It has become a tradition for the first episode of the year: Gerard, Laurent and Michael present their 2025 Predictions in the Energy Transition.Here are the predictions that were made a year ago.1) Stellantis will outsource its EV production in China2) Politics: Elections in 2024 could derail the Energy Transition3) Oversupply of everything energy related – Prices are going down4) Stronger top-down governance of Transmission and Interconnection5) The return of Clean Energy shares6) China will gain massive international market in Wind and EVs  Winner for best predictions is Michael Barnard, and the loser is Laurent (as usual)  And here are our 6 predictions for 20251) Oil production down in the US in 20252) Oil prices will hit 40USD/bl in 20253) Geopolitics, stressed supply chains and Energy bonanza will bring a more innovative and better world4) A bloodbath for Hydrogen in the Transportation sector5) Record installation of Solar (700GW), EVs (20m) and Batteries (200GWh)6) The end of all financial products labelled ESG, Climate and Carbon  We wish all our listeners an excellent year 2025 and we love you all.

25. 164. 2024 Wrap up: Successes, Surprises and Shocks23.12.2024 (00:17:47)

    Merry Christmas. This is our last Episode of the Year where Laurent and Gerard summarise what impressed them, surprised them and shocked them. AI, Hydrogen, Renewables, USA vs Europe vs China, Climate. What worked, what did not work.2024 is a year that will be remembered at pivotal in so many aspects. We salute our friends, our influencers and unveil our book of the year: “The coming wave” by Mustafa Suleyman, not purely about Energy, but about the digital transformation that is revolutionising the world.Laurent and Gerard wish our listeners wonderful year end celebrations and… Buckle up for 2025.