# Eric Rubenstein from New Climate Ventures

Page: https://stenobird.com/podcast/energytech-startups-5673200/eric-rubenstein-from-new-climate-ventures
Text version: https://stenobird.com/podcast/energytech-startups-5673200/eric-rubenstein-from-new-climate-ventures.md
Podcast: [Energytech Startups](https://stenobird.com/podcast/energytech-startups-5673200)
Published: 2026-04-14T12:00:00+00:00
Episode link: https://energytechstartups.collide.io/episodes/eric-rubenstein-from-new-climate-ventures
Audio file: https://media.transistor.fm/102dcd73/fc31be81.mp3
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JSON: https://stenobird.com/v1/public/podcasts/energytech-startups-5673200/episodes/eric-rubenstein-from-new-climate-ventures
Duration seconds: 4217

## Resource

Eric Rubenstein, managing partner at New Climate Ventures, joins Jason and Nada live from Ceraweek to make the case that what we're calling an energy transition is actually a new industrial revolution. He breaks down why data centers are only the fifth biggest driver of power demand, how his 35-company portfolio is shifting toward localized production and supply chain resilience, and what founders absolutely need to nail before walking up to an investor at a conference. Click here to watch a video of this episode. Join the conversation shaping the future of energy. Collide is the community where oil & gas professionals connect, share insights, and solve real-world problems together. No noise. No fluff. Just the discussions that move our industry forward. Apply today at collide.io Click here to view the episode transcript. 00:00 - Intro and Ceraweek impressions 07:11 - What is actually driving power demand growth 13:41 - The all-of-the-above energy reality 19:12 - NCV fund thesis and origin 22:28 - Portfolio breakdown and data center exposure 25:07 - Upcycling waste into value 28:30 - How the portfolio informs investment strategy 34:19 - Is venture capital broken for hard tech? 37:01 - The missing middle and how startups are bridging it 40:11 - Industrial customers funding their own first commercial plants 45:38 - Raising fund two and what LPs want 48:45 - How NCV communicates with investors 56:37 - What founders should know before approaching investors 01:01:09 - Talking valuation with investors https://twitter.com/collide_ai https://www.tiktok.com/@collide.io https://www.facebook.com/collide.io https://www.instagram.com/collide.io https://www.youtube.com/@collide_io https://bsky.app/profile/collide-ai.bsky.social https://www.linkedin.com/company/collideai

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## Transcript

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