BYE, FOSSIL FUELS. HELLO, ENERGY TRANSITION!
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It is safe to say that the past few months have not exactly been smooth sailing for the fossil fuel-driven industries. In fact, it became apparent very quickly into the pandemic that Oil & Gas would be one of the worst-hit. While the initial fall in prices was quick and devastating for many, the oil giants seem to be more and more open to renewables and clean technologies. The likes of Shell, BP, and Eni have not only joined others in supporting ventures before but are now changing the narrative in their internal operations to become net-zero businesses. While some O&G companies are doubling down on oil infrastructure, others are changing their focus and definition of themselves to Energy and Energy Transition companies.
However, although the pandemic's impact on the Oil & Gas caused turmoil around the topic, the widespread concerns were more about the panic than addressing more holistic, macroeconomic long-term effects. This topic is explored in great detail in Quartz's field guide "Fossil fuels go bust", which encompasses a five-article series on how the coronavirus changed the future of fossil fuels. The articles comment on eye-opening statistics:
- There are only 2 oil companies in the Top 100 of the S&P 500 in 2020 compared to 12 only 10 years ago
- The oil industry is experiencing major recruiting problems, especially among young people as 44% find the career path "unappealing"
- The Oil and Gas sector, once worth a combined $3 trillion, is now worth less than Apple
Not coincidentally, all of the research seems to have one unifying idea: fossil fuel era seems to be coming to an end.
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 #LetsTalkEnergy in Numbers
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We are very humbled by the engagement we have seen since launching our #LetsTalkEnergy live interviews. It has been a strong start to an initiative that came about during these turbulent times, yet we are continuing to build something that we see will be even greater and recurring in the future. We initiated Energy Tech Network as a complement to our annual Energy Tech Summit to foster the dialogue on the sustainable energy transition virtually and become a go-to platform for Investors, Entrepreneurs, and Corporates innovating in the future of Energy and Mobility.
We already see collaborations coming about, as well as discovery and notice of new technologies within the network, and are looking forward to investors and companies connecting with all these entrepreneurs in a meaningful way. We believe the New Energy Challengers initiative will enable these founders and their technologies to be noticed sooner (we know we are busier than ever in engaging these companies at such a scale!).
#LetsTalkEnergy hosted numerous interesting discussions over the month of June. To name a few, Tomas Kebla of Contrarian Ventures had a chat with Frederico Bilelo Gonçalves from EDP Ventures, while Partner Tomas Kemtys had an informative (yet entertaining!) discussion with Michael Granoff, the founder and Managing Director of Maniv Mobility. Aside from these, the Energy Tech Network's team continuously updates the agenda to discuss a wide range of topics with the most active and experienced investors in the Energy Tech and Mobility space. You can find the full virtual sessions' history and agenda here.
Why You Should Join Us
Energy Tech Network is a unique digital platform gathering innovators, companies, investors and corporates dedicated to accelerating sustainable energy transition to net-zero emissions through technology innovations.
With hundreds of energy tech & e-mobility Investors and Companies already on board, Energy Tech Network is an essential community to leverage your business presence in the market.
Know a speaker who would be willing to share his or her experience in Energy Tech or Mobility? Express your interest here and we will be excited to schedule a discussion shortly.
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 Contrarian Ventures Reading List
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Chris Sacca returns to venture capital with clean energy firm
💸 New fund focuses on startups with technologies to reduce CO2 emissions, remove carbon from the atmosphere, and actively cool the planet
🛢️ Shell, BP, and Eni continue to be vocal about becoming net-zero energy businesses
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 Big Moves in the Market
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⚡ The acquisition would strategically complement other Microsoft's IoT security services
🔋 This next-generation technology will unlock longer ranges and faster charging times in electric vehicles
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