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Select Quotes From This Episode:
"The overall result of that is to cut the capex of a plant by about 50%." — Conor Madigan
"Until you've built a big network of your own... it's pretty invaluable to have a top-notch recruiter." — Conor Madigan
"If you compare an electrified system versus a fired system, you can boost the output by about 20%." — Conor Madigan
"I came to believe that the number one most important thing in sort of building a startup is you have to establish a really compelling business problem with a deep and sort of fundamental customer need." — Conor Madigan
"I… try to create a constructive sort of tension inside of an organization by pairing together certain personality traits." — Conor Madigan
"It's usually worse if things are starting to go off track and you're not saying anything about it because these organizations at these sizes typically kind of naturally know something is off." — Conor Madigan
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In this episode, Silas Mähner speaks with Conor Madigan, Founder and CEO of Aether Fuels, about their innovative approach to producing sustainable aviation and shipping fuels from diverse waste streams, dramatically reducing CO2 emissions. Madigan details how Aether Fuels' unique catalyst, process, and equipment technology slashes capital expenditure by 50% and boosts fuel yield by 20%, making sustainable fuels cost-competitive and flexible across various feedstocks like CO2, biogas, and industrial off-gases.
Conor also shares invaluable insights from his experience as a second-time founder, including his philosophy on building high-talent, low-ego leadership teams and fostering constructive tension within an organization. He emphasizes the importance of clear communication, even when facing challenges, and why finding the right business problem before the technology is a critical, yet often overlooked, strategy for CleanTech founders.
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📝 Show Notes:
Topics
00:53 - Introduction to Conor Madigan and Aether Fuels
02:42 - Aether Fuels' core mission: decarbonizing aviation and shipping
03:12 - ClimateTech OG inspiration: James Hansen
03:55 - TLDR: Aether Fuels' technology and market
05:27 - Visualizing the innovation: cutting CAPEX and boosting yield
14:15 - Optimizing for 1-5k barrels/day scale
15:16 - Feedstock flexibility and mixing waste streams
17:21 - How the innovation was discovered (GTI Energy partnership)
19:00 - The contrarian view on hydrogen prices in 2022
21:55 - Conor Madigan's background and journey into ClimateTech
27:40 - The incubation process with Zora Innovation/Temasek
28:00 - The year-long "funnel" to choose the right climate problem
30:59 - Conor's philosophy on team building: high talent, low ego
32:00 - Creating constructive tension in R&D vs. Engineering
33:55 - The invaluable role of top-notch recruiters
36:00 - The importance of clear thinking and reasoning in leadership
38:35 - Why senior hires need to be "player-coaches" at startups
40:30 - Transparent communication during challenging times
43:27 - Why founders should share challenges and invite ideas
46:00 - Policy trends and market drivers for SAF
49:34 - Business model: tech & project developer, future licensing
49:50 - Cost parity expectations for Aether Fuels' product
53:16 - How to reach fossil fuel cost parity
55:10 - Final call to action and where to find Aether Fuels
Links
Connect with Somil on LinkedIn | Connect with Silas on LinkedIn
This podcast is NOT investment advice. Do your homework and due diligence before investing in anything discussed on this podcast.
