#164 Net-Zero Cement, Surviving the Startup Valley-of-Death, Timing a Pivot, & More w/ Ryan Gilliam (Fortera)

TWO ANNOUNCEMENTS 🚨* We’ve launched a Patreon 🥳🚀 please check it out and consider buying us **just one** latte ☕️* Thanks for returning to the CleanTechies Podcast on Substack! We have a big favor to ask you. Please take a couple minutes to fill out our listeners’ survey! Thank you SO much for being a supporter.🌎 Welcome back to the CleanTechies PodLetter, founder edition.Today, we are talking to Ryan Gilliam from ForteraIn this conversation, we chat about…* How Ryan pivoted at the right time and was able to start Fortera* What is their Net-Zero Cement technology and how they scaled it* Why they are able to survive the “Startup Valley-of-Death”And much more… 📺 Watch on YouTube🍎 Apple Podcasts 🎧 Spotify🗣️ Join the Slack ChannelSubscribe to get these episodes and show notes directly in your inbox - if you find this valuable, consider becoming a paid subscriber to help us continue this work. Already a subscriber? Upgrade to paid by clicking on “Upgrade to Paid” in the top right 👆The Guest: Ryan Gilliam* Ryan is the Co-Founder & CEO of Fortera, a company pioneering net-zero cement* He started off spending 11 years at the Calera Corporation, where he learned the fundamentals that would help him start Fortera* Ryan is also a Venture Partner at 1955 Capital, investing in technologies developed in the Americas and Europe that can help solve China’s and the developing world's greatest challenges in areas including energy & environment, food safety & supply, health & education, and sustainable manufacturingThe Startup: ForteraNet-Zero CO2 Cement, Materials, ConstructionOne-liner: Fortera develops a turnkey bolt-on decarbonization solution that integrates into existing cement plant infrastructures to produce net-zero cementTheir process draws on 100,000+ hours of R&D, 100+ issued global and pending patents and 10+ years of real-world product demonstration. The Silicon Valley-based company is backed by leading investors including Khosla Ventures and Temasek. Fortera’s first low-carbon cement plant is nearing completion in Redding, Calif., and will be one of the world's largest carbon mineralization plants.Enjoy the content but unable to support financially? Share the episode with your network and mention your favorite aspect of the show. 🙏📝 Show Notes:Topics* 01:44 Intro* 05:08 Experience with the Cement Industry* 09:40 The Problem of CO2 Emissions in Cement* 13:34 Making the Technology Fit Within the Ecosystem* 19:46 Changing Customer Mindsets* 25:50 Integration with Cement Producers* 29:56 Starting Fortera and Convincing Investors* 33:55 Fundraising and Shifting Capital Stack* 37:05 Raising Early Rounds and Bringing in New Investors* 41:28 Transitioning to Project Financing* 44:07 Project Development vs Licensing IP* 46:28 Key Considerations for Commercial Projects* 48:08 Importance of Planning and Preparation* 48:35 Challenges in Supply Chain ManagementLinks* Ryan Gilliam | Fortera* Connect with Somil | Connect with Silas* Check out our sponsor, NextWave Partners, for all your Climate, Renewables, and Sustainability recruitment needs.* This podcast is NOT investment advice. Do your homework and due diligence before investing in anything discussed on this podcast.🚨🚨🚨 Attention Hiring Managers! Are you struggling to find qualified candidates?—Reach out to our sponsors, NextWave Partners today to help solve that for you.NextWave Partners is a leading Global Renewables, Climate, & Sustainability recruitment consultancy solely focused on these impact areas. They are also B-Corp Certified.Reach out to them today to help you solve your hiring challenges and get you one step closer to making an impact.Asks 👋* We have recently launched a listener survey, and we would love to hear from you how we can improve the show and what you like most. Please take 7 minutes to help us with this. It’s 7 minutes for you, but it makes a huge impact on how we can serve you. * Have a specific guest or topic you’d like us to discuss? Leave a comment and let us know. Here’s the thing: Somil and I both have day jobs, so if you’re in the helping mood, we both have an ask for you today.Somil: I’m currently seeking to connect with founders in the built environment space for a project I’m working on. If you’re in that space, schedule a chat here!Silas: As many of you know, my day job is solving people’s hiring headaches in climate - do you have a hiring headache? Well, let me be your Advil. (booking here)🙏🏽 Thanks for tuning in, and see you all next episode! This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit cleantechies.substack.com/subscribe