Quick takeaways from Canary Media's live event in Seattle - 6/28/23

Even at $49 per ticket, I knew this event would sell out.

You never know what to expect in the climate tech world.

Last night we heard Ramez Nam from PlanetaryVC advocate against the slow environmental permitting process, while also giving a shout out to Sierra Club for their Beyond Coal campaign.

Thanks to the existential crisis of humanity, we now have a surprise marriage between hardcore capitalists and green liberals.

Key Takeaways:

• Money is on the table! In addition to $369 billion from the Inflation Reduction Act (IRA), we have roughly $67 billion from the CHIPS Act, $557 million from Washington State's Climate Commitment Act (CCA), and some local dollars from Seattle's payroll expense tax.
• It's time for new concrete - some estimates say concrete produces 7-8% of global greenhouse pollution. Rahul Shendure, the CEO of CarbonBuilt , has a new plant in Alabama. He claims we can make concrete that's 70-100% carbon free, without losing quality, and do it at a lower cost than traditional methods.
• Hydrogen has mega hype - maybe not for cars (sorry Toyota), but for all kinds of things. It can provide long-term energy storage for the electric power sector, fuel for heavy duty transportation, and heat for industrial processes requiring high temperatures, like steel or concrete production. Keep an eye on it.
• Seattle has some creative ideas - Jessyn Farrell, Director of Seattle's Office of Sustainability and Environment, wants to electrify 4,000 trucks that currently pollute the air for residents in South Park and Georgetown. But it's hard! How are you going to build a giant charging station?
• Environmental Justice takes time to build trust - Director Farrell noted that there is a "real tension in moving quickly" to spend money decarbonizing transportation and buildings. The BIPOC population in Seattle has experienced racial and economic injustice with years of disinvestment, and meaningful dialog doesn't happen quickly.

You can watch the entire 2 1/2 hours here.

Correction: a previous version of this article cited a quote from the panel that Roosevelt's New Deal spending is $60 billion in today's dollars. A reader pointed out a study that has a much higher number of $793 billion in today's dollars.