Eric Rubenstein from New Climate Ventures

Eric Rubenstein from New Climate Ventures

Author: collide. April 14, 2026 Duration: 1:11:20

Eric Rubenstein, managing partner at New Climate Ventures, joins Jason and Nada live from Ceraweek to make the case that what we're calling an energy transition is actually a new industrial revolution. He breaks down why data centers are only the fifth biggest driver of power demand, how his 35-company portfolio is shifting toward localized production and supply chain resilience, and what founders absolutely need to nail before walking up to an investor at a conference.


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00:00 - Intro and Ceraweek impressions

07:11 - What is actually driving power demand growth

13:41 - The all-of-the-above energy reality

19:12 - NCV fund thesis and origin

22:28 - Portfolio breakdown and data center exposure

25:07 - Upcycling waste into value

28:30 - How the portfolio informs investment strategy

34:19 - Is venture capital broken for hard tech?

37:01 - The missing middle and how startups are bridging it

40:11 - Industrial customers funding their own first commercial plants

45:38 - Raising fund two and what LPs want

48:45 - How NCV communicates with investors

56:37 - What founders should know before approaching investors

01:01:09 - Talking valuation with investors


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They say everything's bigger in Texas, including the challenges and opportunities presented by climate change. That's precisely why Houston has become a surprising epicenter for the global energy transition. In H-Town, the fourth largest city in the United States, a new wave of entrepreneurs is converging, partnering with established industry titans to forge the technologies that will slash emissions and power a low-carbon future. This is the landscape explored in Energytech Startups, a podcast from collide. that goes straight to the source. Hosts Nada Ahmed and Jason Ethier sit down with the very people driving this change-the founders, investors, and innovators who are building companies at the intersection of energy and technology. Each conversation digs into the real work: the engineering breakthroughs, the complex business models, and the hard-won lessons from the front lines of a sector undergoing massive transformation. It’s a direct line to the strategies and stories shaping the future of energy, making this podcast an essential listen for anyone curious about the business and investment dynamics behind building a sustainable world. You’ll hear frank discussions about funding, scaling, and the practical realities of bringing a transformative idea to market, all set against the backdrop of a city historically known for oil and gas now betting big on its own reinvention.
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