EIP Weekly Reads
Energy Impact Partners is a strategic investment platform leading the energy transformation. And we read a lot. Here are some of the key stories making the rounds with us this week.
The Biden/Harris Administration has begun to roll out their team for climate and energy across the new Office of Climate Policy, DOE, and EPA. Plus - Richard Glick has been named FERC Chair.
In mobility, Apple is targeting car production by 2024 and Proterra and EVgo are getting SPACed. Sunlight Financial is also going public via SPAC, continuing the 2020 trend where the majority of deals (and close to half the proceeds) in the IPO market came from SPACs. Here's a good piece summarizing what is fueling the SPAC market. SPAC.
Storage is going big. Out friends at AGL have announced a framework with Fluence and Wartsila for one gigawatt of energy storage. Plus, Fluence joins the energy unicorn club and is now valued at $1B after their most recent round.
We loved this analysis from Recurve on the performance of Ohmconnect during the summer heat wave - and the unfortunate challenges with properly compensating demand response. Full report here.
Chart of the week, courtesy of my colleague James Sprinz: the addition of Tesla to the S&P 500 has boosted expected 5-yr EPS growth for consumer discretionary to 83% annualized. That translates into 20x earnings over the next 5 years.
Welcome to a few new faces on the EIP team, Albert Abaunza and Daniel Giordano!
Adam James is the Chief of Staff and Senior Vice President at Energy Impact Partners. You can find him on Twitter, LinkedIn, or theoretically in person around NY.