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Renewable power represents almost 90% of total global power capacity added in 2020

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Bucking the slowdown in most of the power sector caused by responses to the COVID-19 pandemic, renewable energy actually grew in 2020, and will represent about 90% of the total power capacity added for the year, according to the International Energy Agency.

A surge in new projects from China and the US led the charge for renewable power, which will account for almost 200 gigawatts of additional power generating capacity around the world, according to the  IEA’s Renewables 2020.

Big additions came from hydropower, solar and wind. Wind and solar power generating assets are expected to jump by 30% in both China and the US as developers take advantage of incentives that are set to expire.

The agency predicts that India and the European Union will also jump in and add an additional 10% of renewable capacity — marking the fastest period of growth for the industry since 2015.

These supply additions are in part due to the commissioning of projects delayed by the COVID-19 pandemic, which disrupted supply chains and put a stop to construction.

“Renewable power is defying the difficulties caused by the pandemic, showing robust growth while others fuels struggle,” said Dr Fatih Birol, the IEA Executive Director, in a statement. “The resilience and positive prospects of the sector are clearly reflected by continued strong appetite from investors – and the future looks even brighter with new capacity additions on course to set fresh records this year and next.”

Throughout the first ten months of the year, China, India, and the EU have boosted auctioned renewable power capacity by 15% over the year ago period. Meanwhile, shares of publicly traded renewable equipment manufacturers and project developers have been outperforming most stock indices and the overall energy sector, the agency noted.

Much of this success, the agency noted, will require continued political support to work. Expiring incentives could reduce demand, but if governments provide some certainty around the continuation of subsidy programs, solar and wind additions could jump by another 25% by 2022.  With the right policy, solar photovoltaic installations could reach a record 150 gigawatts by 2022, which would be a 40% increase in just about three years.

“Renewables are resilient to the Covid crisis but not to policy uncertainties,” said Dr Birol, in a statement. “Governments can tackle these issues to help bring about a sustainable recovery and accelerate clean energy transitions. In the United States, for instance, if the proposed clean electricity policies of the next US administration are implemented, they could lead to a much more rapid deployment of solar PV and wind, contributing to a faster [decarbonization] of the power sector.”

If the agency’s predictions hold, renewable energy could become the largest source of electricity worldwide by 2025, according to Dr. Birol.

“By that time, renewables are expected to supply one-third of the world’s electricity – and their total capacity will be twice the size of the entire power capacity of China today,” Birol said in a statement.

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Adobe expands customer data platform to include B2B sales

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The concept of the customer data platform (CDP) is a relatively new one. Up until now, it has focused primarily on pulling data about an individual consumer from a variety of channels into a super record, where in theory you can serve more meaningful content and deliver more customized experiences based on all this detailed knowledge. Adobe announced its intention today to create such a product for business to business (B2B) customers, a key market where this kind of data consolidation had been missing.

Indeed Brian Glover, Adobe’s director of product marketing for Marketo Engage, who has been put in charge of this product, says that these kinds of sales are much more complex and B2B sales and marketing teams are clamoring for a CDP.

“We have spent the last couple of years integrating Marketo Engage across Adobe Experience Cloud, and now what we’re doing is building out the next generation of new and complimentary B2B offerings on the Experience platform, the first of which is the B2B CDP offering,” Glover told me.

He says that they face unique challenges adapting CDP for B2B sales because they typically involve buying groups, meaning you need to customize your messages for different people depending on their role in the process.

An individual consumer usually knows what they want and you can prod them to make a decision and complete the purchase, but a B2B sale is usually longer and more complex involving different levels of procurement. For example, in a technology sale, it may involve the CIO, a group, division or department who will be using the tech, the finance department, legal and others. There may be an RFP and the sales cycle may span months or even years.

Adobe believes this kind of sale should still be able to use the same customized messaging approach you use in an individual sale, perhaps even more so because of the inherent complexity in the process. Yet B2B marketers face the same issues as their B2C counterparts when it comes to having data spread across an organization.

“In B2B that complexity of buying groups and accounts just adds another level to the data management problem because ultimately you need to be able to connect to your customer people data, but you also need to be able to connect the account data too and be able to [bring] the two together,” Glover explained.

By building a more complete picture of each individual in the buying cycle, you can, as Glover puts it, begin to put the bread crumbs together for the entire account. He believes that a CRM isn’t built for this kind of complexity and it requires a specialty tool like a CDP built to support B2B sales and marketing.

Adobe is working with early customers on the product and expects to go into beta before the end of next month with GA some time in the first half of next year.

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Two-year-old Day One Ventures raises new $52.5M fund to invest in Valley startups

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Back in 2018 Day One Ventures launched in Silicon Valley specifically designed to be both a VC and an investor that would also lead marketing and communications for its portfolio. Two years on, Day One has invested in numerous startups to do just that and has today filed with the SEC its new $52.5M fund.

The new fund is similar to the first one: investing across industries from pre-seed to seed, with occasional series A investments (from $100K to $5M).

The fund was founded and is headed by Russian émigré Masha Drokova, who, since arriving in the US a few years ago, has been variously a PR and angel investor, but famously dumped her former life in Russia as a politician and TV reporter.

Drokova says the fund focuses on ‘day one’ companies, as defined by Jeff Bezos, which have ‘customer obsession’ in-built into their company culture.

She says the fund was raised during the pandemic over zoom with $45 million coming from LPs in the first fund. More than 30% of the capital is invested in POC founders; it has 25 female founders in its portfolio; and 33% of its capital is invested in high-growth ‘impact’ companies. Day one has frequently co-invested with Andreessen, Index Ventures, Founders Fund, and Lightspeed.

The fund has had three exits so far: Lvl5, Acquired, Feastly and has invested in Remote.com (with Index and Sequoia).

So far among its portfolio is:

DoNotPay: British founder Joshua Browder, started a chatbot that pays your parking ticket, cancels subscriptions and gets refunds for you. This raised a $15M series A led by Coatue and Andreessen.
Superhuman: An AI-based email client for execs founded by Brit Rahul Vohra – it has raised $35M series B from Andreessen.
MSCHF: This creates viral and controversial products on a Supreme-drop-like model, invested with Founders Fund.
Truebill: a personal finance & savings app.

The fund says its portfolio companies have now raised $825 million in aggregate; over 25% of its capital is in fintech companies; over 30% in AI-powered startups; and it claims to have hit over 500 media publications for its portfolio.

Speaking to TechCrunch, Drakova said “We choose startups with ‘customer obsession’ as the main focus for selection. Secondly, our value add in communications means we have people like Jack Randall who did comms for Robin Hood on our team. Not many women immigrants to the US have raised as much as this, as fast as this. So it’s a good sign for the market.”

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India bans another 43 Chinese apps

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India is not done banning Chinese apps. The world’s second largest internet market, which has banned over 175 apps with links to the neighboring nation in recent months, said on Tuesday it was banning an additional 43 such apps.

Like with the previous orders, India cited cybersecurity concerns to block these apps. “This action was taken based on the inputs regarding these apps for engaging in activities which are prejudicial to sovereignty and integrity of India, defence of India, security of state and public order,” said India’s IT Ministry in a statement.

The ministry said it issued the order of blocking these apps “based on the comprehensive reports received from Indian Cyber Crime Coordination Center, Ministry of Home Affairs.”

The apps that have been banned include popular short video service Snack Video, which had surged to the top of the chart in recent months, as well as e-commerce app AliExpress, delivery app Lalamove, and shopping app Taobao Live. Full list here. At this point, there doesn’t appear to be any Chinese app left in the top 500 apps used in India.

Tuesday order comes as a handful of apps including PUBG Mobile and TikTok explore ways to make a return to the country. In recent weeks, PUBG has registered a local entity in India, partnered with Microsoft for computing needs, and publicly vowed to invest $100 million in the country. Though it is yet to hear from the government.

Tensions between the world’s two most populous nations escalated after more than 20 Indian soldiers were killed in a military clash in the Himalayas in June. Ever since, “Boycott China” sentiment has trended on social media in India as a growing number of people post videos demonstrating destruction of Chinese-made smartphones, TVs and other products.

In April, India also made a change to its foreign investment policy that requires Chinese investors — who have ploughed billions of dollars into Indian startups in recent years — to take approval from New Delhi before they could write new checks to Indian firms. The move has significantly reduced Chinese investors’ presence in Indian startups’ deal flows in the months since.

More to follow…

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