IRVINE, Calif. – A new educational series focusing on aspects of Public-Private Partnerships (P3) and clean energy was launched Friday, May 23, as Clean Energy Innovation Day at the Sunstone Stage at Sunstone Management’s Irvine headquarters.
Sunstone CEO John Keisler started the series by interviewing Ross Zelen, the chief consultant for the state Senate and the Joint Legislative Committee on Climate Change Policies in the California legislature. Zelen has spent years working on climate change mitigation strategies, including climate finance and land use issues.
Keisler and Zelen discussed ways the state partners with local governments and the private sector to stimulate clean energy research and development. In addition to providing grants and loan guarantees, the state acts as a conduit for federal support. High profile markets include electrification of goods movement in and around California ports and beyond.
The second portion of the Innovation Day featured presentations from the principals at Evolectric and Alternative Fuel Leasing Company.
Evolectric co-founder Jakson Alvarez explained how the six-year-old company has developed a model to install new electric-powered drive train into older diesel box trucks – the primary vehicle used for local delivery. He and co-founder Bill Beverly jumpstarted the company through the Long Beach Accelerator and now are producing conversion kits that can be shipped to remote installation sites as well as making conversions at their Compton headquarters.
Beverly said Evolectric is in the midst of another fund-raising round and hopes to expand its conversion approach to the next level of cargo trucks soon. A recent innovation is the inclusion of a hydrogen fuel cell as a range extender for the electric battery system.
Alternative Fuel Leasing Company got its start after understanding the Evolectric business model, AFLC co-founder Preston Hayes said. It became clear that small fleet owners needed help financing their alternative fuel trucks.
But major financing companies reject leases for electric-powered trucks, partially because they are expensive, but mostly because the technology is so new.
Hayes and partner Jesse Yanocha founded AFLC to help owners take advantage of government incentives to lower purchase prices to a level that could affordably be leased, Hayes said. Once the lease term is completed, AFLC can lease that truck again. AFLC already has a cash flow thanks to the founders’ familiarity with the P3 concept of partnering with the government, Yanocha noted.
Sunstone already hosts a weekly session called Sunstone Stage Connects, where startup founders present to a crowd of investors and entrepreneurs each Friday. The P3 education series will be a part of that program once a month.
Sessions are invitation-only. For more information and to get on the invitation list, sign up here.