Rick Klau

Excited to be heading to Aggie Square tomorrow for the MIX event and to be part of a conversation about what resilient, community-focused energy actually looks like in practice. In my recent post, I dove into why the microgrid market is set to nearly triple and why utilities and communities are starting to view microgrids as complete energy alternatives, not just temporary stopgaps—looking forward to carrying that discussion into the room with founders, policymakers, and partners who are building what comes next. BoxPower #Batteryenergystorage #Reliableenergy #Microgrids #Sacramento

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AB 942, a bill aimed at reducing the growing cost burden on non-solar electricity customers, has passed the Assembly Committee on Utilities and Energy. Authored by Assemblymember Lisa Calderon, the bill seeks to reform California's rooftop solar incentive framework, requiring new owners of properties with existing solar systems to adopt the state's Net Billing Tariff. Additionally, it would eliminate the California Climate Credit for solar users, a move proponents argue will reduce the financial burden on non-solar customers and align energy costs. However, the bill faces opposition from a diverse coalition of housing and business organizations, who argue it undermines housing equity, retroactively breaks contracts, and penalizes low- and middle-income homeowners. Critics also warn that the bill would introduce unnecessary uncertainty into housing transactions and raise utility bills for hard-working families. Opponents further argue that the bill would punish the very people California encouraged to invest in solar energy, and could severely weaken consumer trust in government. The debate highlights a deeper divide over the root cause of rising electricity rates, with proponents focusing on solar subsidies and opponents highlighting unchecked utility infrastructure spending. The bill's passage marks a significant development in California's clean energy trajectory, with concerns over the impact on consumer trust and the stability of solar investments at the forefront. #ab942, #solarenergy, #energyinequity, #housingequity, #cleanenergy https://lnkd.in/gn2Qjbpn

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  From CTV Updates The latest news from the ClimateTech world  Three breakthrough technologies just hit major milestones: Energy Vault's 57 MW battery system went live in Texas ahead of schedule, Anax Power is harvesting clean energy from pipeline pressure alone, and Captura opened their first US manufacturing facility for ocean carbon capture. Learn More: https://lnkd.in/gRe2TDYJ  

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Google just closed a $4.75 billion acquisition of a renewable energy developer. We're not talking about a PPA or a pledge here. Acquisition! Intersect had $15 billion of assets in operation or under construction: 2.2 GW of solar, 2.4 GWh of battery storage, and a pipeline of co-located energy parks built specifically to sit next to data centers and generate power behind the meter. Google bought the whole development machine. This is the first time a Big Tech company has acquired a major renewable energy developer outright. Every hyperscaler energy deal before this was a purchase agreement... Google decided that wasn't fast enough. The model Intersect built to co-locate the data center with the generation asset, bypass the interconnection queue entirely, and own both sides of the meter compresses the timeline from project announcement to live compute from years to months. Google's Haskell County, Texas energy park went from announcement to operational in under a year. Same day, Google also announced a new Michigan data center with 2.7 GW of new grid resources committed. Two moves with a singular thesis: stop waiting on infrastructure you don't control. TPG Rise Climate, the seller, immediately spun the remaining grid-tied assets into a new independent power producer called IPX Power. $12 billion in total enterprise value unwound and redeployed in a single transaction. The exit multiple that just printed for a clean energy infrastructure developer is going to start appearing in a lot of LP decks this week. #AI #EnergyTech #AlInfrastructure

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The DOE funding pullback is clarifying for climate tech investments, not catastrophic. The Department of Energy's decision to return over $13 billion in unobligated clean-energy funds has spooked founders who built capital strategies around grant timelines. Reality check: this is a policy reprioritization toward fewer discretionary grants and longer timelines, not a sector shutdown. What hasn't changed: projects with real economics still get funded. The Loan Programs Office continues approving disbursements for revenue-generating projects—manufacturing scale-up, grid infrastructure, nuclear restarts. DOE's Mine of the Future initiative and critical minerals programs remain active, supporting technologies that secure domestic supply chains. At MFV Partners, we stayed disciplined while others chased 2021-2023 IRA momentum. Those bets are struggling now. We focused on energy deep tech that works without subsidy dependency—solutions that pencil out regardless of administration. Our portfolio reflects this: Conifer builds rare-earth-free powertrains using ferrite magnets, directly addressing supply-chain bottlenecks while improving power density and enabling cleaner HVAC and mobility applications. SUN Mobility operates battery-swapping infrastructure for commercial fleets across India, Africa, and Southeast Asia—accelerating EV adoption in emerging markets while delivering ROI through better asset utilization. We have several other companies in stealth building similar economics-first solutions that drive real climate impact. What founders should do now: Use grants to derisk R&D where available, but build your scale path around customer pilots and project finance. Treat supply-chain resilience as a product feature. Prove the economics: predictable throughput, demonstrated reliability, and numbers that work with conservative assumptions. The fundamentals haven't changed. Electrification and grid modernization are productivity upgrades—lower costs, higher availability, better payback. That's where capital flows, regardless of headlines. We're continuing to invest actively in energy and electrification deep tech. If you're building solutions with strong unit economics that accelerate the energy transition, reach out. https://lnkd.in/gUfdzRXH https://lnkd.in/gNGm9zyM

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Definitely recommend reading the recently released "Climate Capital Reset Project" report, by friends Will Coleman Daniel Firger Bill Tarr and Builders Vision. I wrote about it, and some key lessons in light of recent dramatic events, in my latest Forbes column. I've been investing for more than two decades and I've never seen such a significant market shift so quickly. This is not a time for more-of-the-same from climate investors and capital allocators. Dramatic events call for dramatic shifts, and those who adapt too slowly will fall by the wayside. https://lnkd.in/ekbY69Hp #climateinvesting #privateequity #venturecapital #capitalallocators #wealthmanagement

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Montana’s Legislature recently passed community solar legislation with broad bipartisan support. Why? Because the benefits are tangible: - Lower utility bills - Local jobs - Greater grid resilience - Energy independence for rural communities Washington should take note: voters and local leaders aren’t debating whether clean energy makes sense—they’re asking how fast we can get it built. Montana is the latest example that smart, locally driven renewable energy policy is not just possible—it’s popular. #CommunitySolar #RenewableEnergy #BipartisanLeadership #EnergySecurity #RuralDevelopment https://lnkd.in/gJTtGh29

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California's climate disclosure laws are now in action. What does this mean for your business? Last week, CARB unanimously passed Senate Bills 253 and 261, which require large companies doing business in California to publicly disclose emissions and climate risks. Reporting starts in 2026. What excites me about these mandates is what they will reveal over time. When climate-related financial risks are consistently disclosed and compared across industries, the cost advantages of early decarbonization investment will become impossible to ignore. Companies that have already reduced their emissions exposure will show up differently on the balance sheet - not as idealists, but as better-managed businesses. Regulation doesn't just create accountability; it creates visibility. And visibility, ultimately, creates the business case. Read more about the laws here: https://lnkd.in/e2JYyv8A

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