Episode 14: Tariffs, Climate Investing Trends, and Distributed Energy with Greg Wasserman (Head of Private Climate Investing, Wellington Management) and Alexandra Rasch (Founder & CEO, Caban)

In Episode 14 of The Smart Society Show, co-hosts Brynne Kennedy and Rt Hon Chris Skidmore dive into the growing tensions shaping the future of the energy transition. Against the backdrop of escalating trade wars and global tariff announcements, they unpack how geopolitics, AI, and climate capital are increasingly intertwined. They are joined by two powerhouse guests: Greg Wasserman, Head of Private Climate Investing at Wellington Management, and Alexandra Rasch, founder and CEO of Caban Energy. Together, they explore how investment strategies, distributed energy storage, and global supply chains are evolving in this new, fractured landscape.

What’s News: Trade Wars, Tariffs, and the Global Energy Transition

This week's What’s News segment opens with Brynne and Chris analyzing the implications of new tariff announcements between the United States and China, particularly on clean energy technologies and critical minerals. Brynne shares how the tariff uncertainty is already reshaping conversations among investors and startups, particularly in energy storage, generation, and electric vehicles. She points out that U.S.-based energy hardware companies, reliant on Chinese supply chains, now face significant challenges and that reshoring manufacturing is not something that can happen overnight.

Chris emphasizes that while certain industries, like EVs, may suffer under higher tariffs, the essential demand for energy and electricity will continue rising, driven largely by AI and industrial growth. They both note that a potential unintended consequence of these tariffs could be closer ties between China and emerging markets or the EU, particularly around renewable energy and critical materials. As Chris puts it, “the clever people will think about how to be agile and flexible in their market approach.” Amidst the uncertainty, Brynne highlights opportunities for investors to double down on resilient, domestic-oriented technologies and next-generation grid solutions.

Their conversation shifts to the IEA’s new special report on AI and energy, which predicts that AI and data center electricity demand could double by 2030 adding an amount of electricity equivalent to the current annual consumption of Japan. Brynne and Chris agree that AI is becoming both the biggest source of new electricity demand and a powerful tool for optimizing existing grids. They discuss the urgent need to deploy AI at the software layer of energy infrastructure to boost efficiency without waiting decades to build new transmission lines. As Brynne notes, “there is no AI without energy, and the energy industry needs AI to build for tomorrow.”

Chasing Net Zero: Greg Wasserman on the Evolution of Climate Investing

In the Chasing Net Zero segment, Brynne sits down with Greg Wasserman, Head of Private Climate Investing at Wellington Management and one of the original pioneers of climate investing. Greg shares his journey from his early days at Goldman Sachs, to leading President Clinton’s Global Solar Initiative, to his current role building Wellington’s dedicated climate venture and growth platform. With nearly two decades of experience investing in climate solutions, Greg offers a unique long-term perspective on how the market has evolved and where it’s headed next.

Greg explains that Wellington focuses on investing in companies that are beyond the pilot stage and ready for commercial deployment. Their sweet spot is businesses generating $5 to $50 million in revenue and raising Series B, C, or D rounds. Rather than betting heavily on technologies still dependent on government incentives, Wellington looks for solutions that provide real economic value, products and platforms that reduce emissions while offering clear, immediate benefits to customers, such as cost savings or operational resilience.

Greg also broadens the definition of climate investing. While many immediately think of renewables, batteries, or carbon capture, he highlights less obvious but equally impactful sectors like automation, supply chain optimization, and disaster resilience. Whether it’s autonomous vehicles, smart manufacturing, or weather risk analytics, Greg believes that decarbonization and adaptation will touch every part of the economy. As climate impacts worsen, he predicts an accelerating need for solutions across mobility, agriculture, insurance, and labor markets.

Finally, he emphasizes the importance of rigorous impact measurement to avoid greenwashing. Wellington partners with institutions like Woodwell Climate Research Center and MIT to bring deep scientific insights into their investment process, ensuring that every investment delivers measurable climate benefits. Greg leaves listeners with a note of optimism: while the challenges are immense, human ingenuity, innovation, and entrepreneurial spirit remain powerful forces for change.

Chasing Unicorns: Alexandra Rasch on Caban Energy and the Power of Distributed Storage

In the Chasing Unicorns segment, Brynne and Chris speak with Alexandra Rasch, founder and CEO of Caban Energy, a Smart Society Ventures portfolio company that is reimagining how energy is generated, stored, and deployed at the edge. Caban builds distributed renewable energy and storage systems for critical telecommunications and data infrastructure, helping customers like mobile network operators ensure uptime, reduce emissions, and lower operating costs.

Alexandra shares her personal journey from a background in national labs and EV technology to founding Caban Energy, and how her vision has evolved to meet the energy needs of an increasingly decentralized world. Caban currently operates in 14 countries, powering cell towers, satellite ground stations, and data facilities across the Americas and beyond. Their business model is built around long-term contracts similar to power purchase agreements ensuring both financial and operational stability.

Alexandra discusses how Caban’s expansion has been fueled by its $51 million Series B round led by Smart Society Ventures, allowing the company to build manufacturing capabilities in Texas, scale globally, and expand its proprietary software platform for asset monitoring and virtual power plant participation. She also offers a candid look at the regulatory landscape across different markets, explaining how policies that enable revenue stacking, combining energy sales with grid services—are critical to making distributed energy storage scalable and profitable.

Looking ahead, Alexandra sees massive opportunity in evolving battery chemistries, expanded virtual power plant networks, and even cross-border energy trading. She believes that Caban’s growing network of distributed assets could one day function like a decentralized, dynamic energy grid trading power across regions in real time. When asked why Caban will be the next climate unicorn, she points to the unique position the company occupies at the intersection of energy, communications, and decentralization and to the sheer scale of the opportunity ahead.

Final Thoughts

Episode 14 of The Smart Society Show highlights the new fault lines and frontiers of the energy transition. From geopolitical fragmentation and tariff shocks to AI’s insatiable energy appetite and the explosive growth of distributed infrastructure, the world is entering a critical decade of change. Yet, amid the challenges, Brynne, Chris, and their guests show that there are also extraordinary opportunities: to invest smarter, to innovate faster, and to build more resilient, decentralized systems for the future.

Whether it’s through pragmatic capital deployment, technology-driven adaptation, or decentralized energy trading, this episode underscores one resounding truth: the energy transition is no longer optional. It’s here, it’s global, and it’s accelerating, fueled by those bold enough to shape it.

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