In a keynote address to the session on Technology Leaders in Future Energy, Alex Burns, CEO, Williams Formula One (F1), explained that the entrepreneurial and engineering culture of Williams F1, one of the world’s lead car-racing teams, delivers rapid and evolving solutions to complex technical challenges. He described how the flywheels that Williams F1 is developing for hybrid racing cars are being adapted to improve energy efficiency in public buses, sports cars, and metro trains.

Jason Pontin, Editor-in-Chief, MIT's Technology Review, chaired the session. Panelists agreed smart grids need to store and deliver high amounts of renewable energy. Jan Mrosik, Siemens, emphasized smart metering and smart response. Kazuo Furukawa, Chairman, New Energy and Industrial Technology Development Organization (NEDO), said energy storage remains a large gap. Santiago Arias, Torresol, emphasized that energy can be stored and converted according to environmental conditions and demand for electricity. Ben Kortlang, Amonix, described the challenges for clean technologies to be economically viable at a large scale without subsidies. Kathy Pepper, Exxon Mobil, described the potential for producing biofuels from algae. Bill Sims, CEO, Joule Unlimited, said his company’s engineered microorganisms represent a low-cost, fungible, and a modular renewable fuel platform that eliminates biomass needs. Charles Soothill, Alstom Power, explained that a mixed renewable portfolio can address power generation intermittency, and underscored, among others: carbon capture and storage (CCS); transmission grids; and energy efficiency, storage and density. Andrew Beebe, Suntech, proposed the development of a five-year roadmap for eliminating all energy subsidies.

Moderator Chris Hartshorn, Lux Research, described the panel’s goal as identifying the benefits and challenges for entrepreneurs in the clean technology sphere.

Noting that favorable government policies are key for clean technology entrepreneurship to thrive, Eric McAfee, Chairman and CEO, Aemetis, called for strong regulatory frameworks to enable entrepreneurs to make short-term technology development commitments, as well as long-term financial commitments.

Jennifer Holmgren, CEO, LanzaTech, spoke on innovation to create a new energy future, explaining the importance of entrepreneurial companies in furthering clean technologies globally. She described her company’s work in gas fermentation.

Stressing that clean energy is the greatest entrepreneurial opportunity of this generation, Steve Crane, CEO, LightSail Energy, welcomed non-traditional funding sources to provide capital to start-ups and entrepreneurs. He noted that numerous regulatory issues are obstacles to introducing renewables.

Christine Gulbranson, Symphony Equity Partners, described the energy innovation cycle, highlighting potential “valleys of death” in both technological development and commercialization phases, before moving into maturity and price competitiveness.

In the ensuing discussion, participants considered, among others, the: advantages of start-ups in managing early-stage innovation; capital-intensive nature of energy companies; influence of the regulatory environment; need to offer energy products that will help companies expand their markets; and value of an “accelerator” approach enabling start-ups to access networks and strategic partnerships.