New Energy Nexus: Exploring the Future of Sustainable Energy in the Philippines

New Energy Nexus is a global organization that supports clean energy entrepreneurs and works towards accelerating the public and accessible use of clean energy. It provides funding, mentorship, and connections to various clean energy startups and organizations around the world. In the Philippines, New Energy Nexus operates as a program that focuses on supporting and scaling clean energy startups. They provide various resources and programs such as incubation, acceleration, mentorship, and networking opportunities to help clean energy startups thrive. To their goals, they collaborate with local partners and other organizations that share their vision of a cleaner, more sustainable energy future. With that, why don’t you join me in learning more about New Energy Nexus with the Philippine Country Lead, Brenda Valerio 

Can you tell us about New Energy Nexus and what it does to support the clean energy transition in the Philippines?

New Energy Nexus is a global non-profit organization that strives to support clean energy entrepreneurs and startups around the world. We started in 2004 with our headquarters in California. We rapidly expanded throughout the years to regions that matter, which includes: Southeast Asia, East Africa, China, and India. Our mission is to accelerate the clean energy transition by connecting innovators with the resources they need to succeed.

In the Philippines, New Energy Nexus works to support the growth of the clean energy ecosystem by providing funding, mentorship, and networking opportunities to local entrepreneurs and startups. We work with a lot of ecosystem stakeholders such as the private sector, government agencies, non-government organizations, and various universities and Higher Education Institutions (HEIs) to support entrepreneurs and help them build a pipeline to involve themselves in the energy ecosystem here. We believe that by supporting the development of clean energy technologies, we can help to create a more sustainable future for the people of the Philippines.

To achieve our goals, we collaborate with local partners, including investors, government agencies, and other organizations that share our vision of a cleaner, more sustainable energy future. We also provide access to our global network of clean energy experts, mentors, and investors, which can help to accelerate the growth of local startups.

What makes New Energy Nexus different from other climate or energy tech VCs? What is their investment approach?

First and foremost, we are not just Venture Capitalists. We are mission-driven and focused on accelerating the clean energy transition. We prioritize investments in clean energy startups that have the potential to make a meaningful impact on the environment and society. Our goal is not just to generate financial returns for our investors, but also to support the development of clean energy technologies that can create a more sustainable future for all. Additionally, we are committed to supporting diverse and inclusive entrepreneurship. We believe that the clean energy transition can only be successful if it is equitable and accessible to all, and we actively seek out and support entrepreneurs from underrepresented communities.

In terms of our investment approach, we take a flexible and tailored approach to each investment opportunity. We work closely with each startup to understand their unique needs and goals, and we provide a range of support services, including funding, mentorship, and networking opportunities. For instance, a significant number of startups that we work with in Southeast Asia are early stage startups that need more than just financial capital in their companies to scale. They would oftentimes need more support in connecting with more ecosystem builders, looking for investors, and partners. We also leverage our global network of clean energy experts and investors to help startups access the resources they need to grow and succeed.

What role do you think startups and entrepreneurs can play in driving the clean energy transition, and how is New Energy Nexus supporting these efforts?

Innovative startups and entrepreneurs bring fresh perspectives, new ideas, and disruptive technologies to the table, which can help to unlock new solutions to some of the biggest challenges facing the energy industry today. By developing and scaling these solutions, startups and entrepreneurs can play a pivotal role in accelerating the transition to a more sustainable and renewable energy system. Additionally, these solutions that come from novel businesses are able to inspire and encourage both business and individuals to find new solutions. When the rest of the ecosystem sees these innovative technologies by new enterprises, it also encourages them to think outside the box. As a result, new solutions are born.

Most of the time, it is difficult to navigate an ecosystem landscape where systems are centralized. Only a handful of stakeholders manage the system, which makes it difficult for new businesses to enter the market. As such, we believe that diversity and inclusivity are crucial to the success of the clean energy transition, which is why we actively seek out and support entrepreneurs from underrepresented communities. Through our partnerships with local organizations and initiatives, we aim to build a more diverse and inclusive ecosystem that can help to drive innovation and progress in the clean energy industry.

Can you share some success stories or examples of how New Energy Nexus has helped startups and entrepreneurs in the Philippines to grow and scale their clean energy businesses?

First, Hive Energy. It is a startup that was founded back in 2021, with the founder being based in Oriental Mindoro. They create modular power cells that are perfect for houses that do not have access to proper electricity. They have catered to clients both within and outside of Oriental Mindoro and are now exploring larger scale systems. The entire concept of Hive Energy came from an ideation workshop. Another would be PISOLAR, a Davao-based company. They came up with a Pay-As-You-Go system for solar homes. This is a complementary solution to an already existing one, which has enabled off-grid and low income families to pay solar homes hassle-free. Lastly would be SolarWise, a platform that connects households to solar rooftop contractors. It has been difficult to hire very legit and authentic contractors. But with SolarWise, connecting with these contractors has never been easier.

These kinds of solutions are what we are hoping to support more in the Philippines. We are not looking for the next solar cell manufacturer, or the next most innovative battery. But rather, we are looking for innovators that experience problems firsthand and create solutions that complement energy technologies that need to be adopted in the country.

What policies or initiatives do you think are needed to accelerate the clean energy transition in the Philippines, and how is New Energy Nexus advocating for these policies?

One important policy is the implementation of a strong renewable energy standard, which would require utilities to source a certain percentage of their energy from renewable sources. This can help to drive demand for clean energy technologies and incentivize investment in renewable energy projects. Additionally, this will help increase the attractiveness of the startups and the industry. Another important policy is the implementation of tax incentives and other financial incentives for clean energy projects and technologies. For the teams we work with, it has been very challenging for them to comply with a multitude of permits and requirements. By extending incentives, this can help to make clean energy more competitive with traditional fossil fuels and drive investment in the sector. Another policy would be an openness to connect with early stage enterprises. This is also a big barrier for now since a lot of local startups prefer to only work with bigger energy companies or bigger VCs. It is important that these policies be well understood by everyone.

New Energy Nexus is advocating for these policies by working closely with local partners and stakeholders to raise awareness of the benefits of clean energy and to promote the implementation of policies that support the growth of the clean energy industry in the Philippines. We also work to connect clean energy entrepreneurs and startups with policymakers and government officials to help ensure that their voices are heard and that policies are designed to support their needs and goals.

Brenda Valerio is the Philippine Country Lead of New Energy Nexus. She has a degree in Entrepreneurial Studies and a Master’s Degree in Business Administration. She also has extensive experience in the fields of business administration, project management, and startup acceleration. These experiences have led Brenda to pursue the growth and scaling of sustainable companies through New Energy Nexus, with a  mission to support the growth of the clean energy ecosystem by providing funding, mentorship, and networking opportunities to local entrepreneurs and startups. As the Country Lead of the Philippines, Brenda is committed to growing and scaling businesses in the Philippines to help accelerate the clean energy transition in the country. 

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