McCauley: Tech underwriting by Munich Re and New Energy Risk enabled Bloom
Jeff McCauley · A critical tool for scaling climate tech: insurance · Feb 17, 2022 · at 28:46
Jeff McCauley, co-founder of Energetic Insurance, discusses how specialized insurers take on early-stage technology performance risks to facilitate project financing for clean tech companies.
0:00 / 0:16exact quote · 16.8s
720p mp4 · rendered on demand · StarZero watermark
“In particular, you know, Munich Re is very much a technology underwriter. AXA, and as I mentioned before New Energy Risk Also on, on larger scale projects, I think Bloom Fuel Cells is a key example where that's been really a success story.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Jeff McCauley
McCauley: There is "essentially unlimited capital" trying to invest into ESG
“There is essentially unlimited capital right now that's trying to get into ESG. It's amazing. It's a wonderful thing to see. So much capital from all around the world is trying to pour into renewable energy.”
McCauley: Renewables performed better than gas during Texas power outages
“And even in some of the Texas outages, in general, the renewable, renewable energy assets tended to perform better than the gas or thermal assets.”
McCauley: Counterparty risk, not technology risk, holds back distributed energy financing
“All of these distributed assets that are so exciting are generally sold on long-term contracts, And so even once we've rung out the technology risk, there are still counterparty repayment risks that are holding back financing for those projects.”
McCauley: Shifting risk to insurance balance sheets lowers project capital costs
“If you can shift risks to That are not efficiently allocated to an insurance balance sheet that may allow the total cost of capital to fall for the project. And that directly impacts LCOE, that expands the market, that potentially lowers costs, potentially acc…”
McCauley: Distributed generation financing creates a virtuous cycle of storm resiliency
“So if we imagine now that there's more accessible financing for distributed generation, That increases the resiliency of those homes and businesses, which reduces the damage due to those storms. So we can see that this is actually a virtuous cycle on multiple …”