In this episode of the Clean Power Hour, host Tim Montague interviews Sebastian Heitmann, the co-founder of the venture capital firm Extantia. The discussion covered a wide range of topics related to the energy transition and decarbonization efforts.
Sebastian shared his journey from the early days of investing in clean tech 1.0, which primarily focused on solar energy, to the realization that more innovation was needed to tackle the challenges of the energy transition. This led to the founding of Extantia, with the goal of attracting institutional capital to back economically viable and resiliency solutions in the clean energy space.
One of the key technologies discussed is deep geothermal energy, which Sebastian referred to as the "holy grail" of energy sources. Deep geothermal involves drilling miles into the Earth's crust to access the immense heat trapped beneath our feet. The conversation explored the challenges and breakthroughs needed to make deep geothermal drilling economical and scalable, such as the development of new drilling technologies that can efficiently penetrate hard rock formations.
Sebastian also highlighted the importance of considering the entire energy landscape, including industrial heat, transportation fuels, and the need for firm capacity or baseload energy sources that can complement intermittent renewables like wind and solar. The discussion touched on the potential of emerging technologies and the role of innovation in finding solutions that are not only environmentally sustainable but also economically viable and resilient.
Throughout the episode, Sebastian emphasized the urgency of the energy transition and the need for a multi-faceted approach that leverages existing infrastructure while also embracing new technologies and innovative solutions. The conversation provided insightful perspectives on the challenges and opportunities in the clean energy space, underscoring the crucial role of venture capital and private sector innovation in driving the energy transition forward.
Social Media Handles
https://www.linkedin.com/in/sebastian-heitmann-3259ab45/?originalSubdomain=de
https://extantia.com/
Please take our Listener Survey: https://bit.ly/cphsurvey23
It helps us and you speed the energy transition (and who doesn't want that?!)
Please support the show - make a donation or become a sponsor. Learn more at https://www.cleanpowerhour.com/
The Clean Power Hour is brought to you by CPS America, maker of North America’s number one 3-phase string inverter, with over 6GW shipped in the US. With a focus on commercial and utility-scale solar and energy storage, the company partners with customers to provide unparalleled performance and service. The CPS America product lineup includes 3-phase string inverters from 25kW to 275kW, exceptional data communication and controls, and energy storage solutions designed for seamless integration with CPS America systems. CPS America has offices in California, New Jersey, and Texas. Learn more at https://www.chintpowersystems.com/
0:00 Introduction
3:15 Sebastian Heitmann's background and journey into clean tech
4:46 The evolution from clean tech 1.0 to clean tech 2.0
11:49 Factors influencing the founding of Extantia
12:44 The role of innovation in the energy market
14:15 The role of Extantia in Net zeroing the economy
22:58 The balance between government initiatives and private innovation
28:29 Technologies Extantia is excited about and investing in
31:45 Why deep geothermal energy has languished
34:52 Defining deep geothermal energy
38:59 Breakthroughs needed to make deep Geothermal drilling economical
40:15 Economics of deep geothermal compared to wind and solar
43:19 Timeline for replacing coal and natural gas plants with deep geothermal
47:31 Closing remarks
