ACORE Regional Roundtable
Volunteer Derek Shannon attended the ACORE (American Council on Renewable Energy) Regional Roundtable on the 2nd and reports that he had an excellent time: “It was good to see so many people worried about the energy future, however I believe there was far too great an emphasis on taxing big oil to subsidize expensive renewables, until oil goes up so much and that expensive renewables are equal in price—Not a recipe for raising the world’s standard of living, if you ask me!
The event took place at the Solar Integrated factory just a mile or so away from USC—They sell roofs that already have the thin-film photovoltaics integrated, and should do great business improving the energy equations of “big box” factories and stores. Their 1.5kW 20x40’ section goes for $5,000, however, or $3,300/kW, making for a 5-7 year payback time. If we are selling $300,000 5MW (continuous, obviously, as opposed to just peak daytime) focus fusion units or $60/kW, it will disrupt them just as much as ITER—An important realization as we continue to build alliances.
No smoking hot leads, but I will make a few notes while they’re fresh in my mind:
(*) Had a chance to speak (as did all the roughly 30 attendees), explaining that I was exploring the potential reaction of the renewable community and associated financing tools to alternative fusion concepts that had been neglected between the ITER and renewable communities. Didn’t get any boos, but neither did the guy who mentioned zero-point energy.
(*) Kate Lutz with “CALEAP: California Energy Autonomy Project” is working on a stem-cells style $3B RE initiative for California—Timeframe roughly 2007. After my phone chat earlier this morning (see below), I wanted to make sure that their definition of RE would include aneutronic fusion—She was surprisingly receptive. I will maintain contact with her organization as they move forward, and make sure that the tech-minded folks who determine eligibility will include aneutronic fusion in their plans.
(*) Spoke with ACORE president Mike Eckhart about who we should be talking to for financing—IE, would it be a good idea to just work through their directory of renewable financiers to see who is willing to buy $2M in LPP shares? Probably not, as taking VC money at this stage would mean handing over 80-90% of the company. Also note that for valuation purposes and future sales of stock, this is something to keep in mind—If this $2M to go through the experimental program to verify break-even makes or breaks the company, the company’s value may be more in the neighborhood of [redacted]. This kind of reality check might be necessary to incentivize continued investment, at least until the Latin American collab results come in—Hopefully in the form of published work!
All in all, the nonprofit angle might be a big improvement in terms of collaborating with ACORE’s network and supporters.
NOW, as to that phone chat I mentioned—Ron Jackson with the NJ Clean Energy Project informed me earlier today that fusion applications definitely did not fit into NJ’s definitions of Class I Renewables—Nothing he can do about it (but maybe we’ll call the governor or the appropriate legislative committee chair if we get desperate). That means that LPP/FFS is not eligible for the Renewable Energy Venture Assistance program currently under review, which would have offered $500,000 with 25% matching. However, Ron referred me to their larger governmental collaborator, the NJ Economic Development Administration, and their Anne Immordino got back to me later today. We discussed LPP, and she let me know that someone will investigate the relevant state technology grants and get back to me in 3-4 days. The possibility of LPP having to go to New Hampshire without NJ state support could be a tipping point—We’ll see what turns up!