Introducing Before It Scales: 7 Myths About FOAK
The debut episode: Joy, Fraser, and Shaun unpack why first-of-a-kind clean energy projects keep stalling, and bust seven myths that misdirect capital, distort policy, and slow down the projects that matter most.
Hosts: Joy McConnochie · Fraser Thompson · Shaun Chau
About this episode
What is a first-of-a-kind clean energy project, and why do they keep stalling?
The IEA estimates that about 35% of the emissions reductions needed by 2050 depend on technologies that aren’t even commercially available yet. Australia has the endowments to lead on these projects. So why aren’t they getting built?
In the first episode of Before It Scales, Joy McConnochie, Fraser Thompson, and Shaun Chau take on 7 myths about FOAK. Why it’s not a technology problem. Why strong fundamentals alone won’t attract capital. Why grants aren’t enough. Why regulation gets too much of the blame. Why Australia can’t afford to sit back and wait. Why green premiums won’t fall on their own. And why the window for action is shorter than most people think
Key Links
- Cyan Ventures Newsletter (or subscribe below)
- Cyan Ventures LinkedIn
We cover
- What FOAK means and why it’s the binding constraint on Australia’s clean energy ambition
- Why the gap between a proven technology and a bankable project is where most projects die
- How institutional capital is structurally unable to price novelty, and what that means for FOAK funding
- The policy instruments that actually work (and why grants alone won’t get us there)
- Why blaming regulation is analytically lazy and politically convenient
- What Sweden, the US, and China are doing while Australia watches
- Why waiting for costs to fall is a circular argument
- How FOAK project timelines mean 2050 is closer than it looks
