This weeks’ update
Echelon Platform Cash Forecast
- <contract>included, all passing through Echelon DS to EchOp
- Pushed out of some EchelonDS payroll to March
- Accelerated repayment of <loan> to EchOp
- Manufacturing costs included for Echelon Commerce
+6 Month Cash Forecast By Business
Echelon Bank Balance Sheet
Echelon Bank Income Statement
B Corp Certification Progress
3 ♠️ Extended
- The big climate (and portfolio) announcement of the day is the public launch of the Breakthrough Energy Fellows program. This program fills a critical funding gap providing non-dilutive financing and supporting business experts to help scientists and engineers commercialize their technology. Ashley Grosh has done a tremendous job creating this program over the last year, and the first cohort includes Echelon portfolio company Furno Materials and two SCV alumni companies Verne and EvolOH.
- Aionics is proud to announce their partnership with Japanese chemical giant Showa Denko K.K., now several years in the making, to help speed up Showa Denko’s battery materials design process. Using cutting-edge artificial intelligence and machine learning tools offered by the Aionics platform, Showa Denko aims to design and discover quality materials for high efficiency batteries while saving time and effort.
- Aionics Chief Scientist Venkat co-founded Chement (chement.co) with his former PhD student Greg Houchins, a company dedicated to producing zero carbon cement. The founding was just announced on Friday 10/15.
- It was also announced on Friday that Greg and Venkat will be backed by the inaugural Breakthrough Energy Fellowship program (big news in first bullet point!)
- It was also announced on Friday that Chement will be forming a deep partnership with Aionics, in which they will work together to accelerate Chement’s tech R&D with AI and high performance compute: https://
aionics.io/aionics-partners- with-chement-to-accelerate- zero-carbon-cement-production- technology/
- EchelonDS webinar series “Data Science Essentials for Start-Ups to learn the benefits and pitfalls of Artificial Intelligence has been scheduled for October 28 @ 11am PST/2pm EST-Save your spot-> HERE
- Giving my seal of approval on all this awesome news within the Echelon ecosystem over the 3 ♠️ week.
A ♠️ Echelon Extended Financials
- HighTide’s website is officially live!
- Don’t miss the next Aionics Fortnightly on October 5 @ 2pm PDT where Dr. Houchins will share everything you need to know about cement: how it’s made today, what is required to decarbonize cement production, and what CHEMent is up to.
- Aionics shared their second “The State of Battery Informatics” newsletter –> check it out here
- EchelonDS was born out of a passion to support small to medium enterprises utilize data science to take their business to the next level. Check out our newly launched website for more information on our customized data science solutions.
- Dr. Jason Vandeventer – Director Of Software Engineering And Data Science, Echelon DS led the latest Data Driven Start-up webinar, Data Science Essentials for Start-ups: Where to start and how to prioritize.
- I was honored to join the Uinta County, WY Economic Development Commission meeting and (surprised) to see that it made the front page of the paper. Not excited about the picture that was captured but very excited about the opportunity to discuss Echelon and our plans for the Old Post Office building, where State Bank will eventually call home.
K ❤️ Extended Financials
- BIGGEST NEWS OF THE WEEK: The FDIC examination team is recommending to the District Office to improve SBWY composite rating from a 4 to a 3 AND also lighten the content order to an MOU. As Britney so well puts it “reaching a point where a consent order is lifted is a monumental occasion however, having the content order lifted at a visitation is virtually unheard of!” Cody, Dave and the whole State Bank team should be VERY proud…I know we are.
- Congratulations to UnifiHealth for raising $5.4MM to propel availability of modern health plans for small businesses!
- Another big congratulations to our partners at Blue Bear Capital on the announcement of their new $150MM fund!
- Want to recognize Jim McQuade and his amazing team of co-founders for their great leadership and whole hearted dedication to their innovative grocery company newly branded as Addie’s. Jim said it had to pass the “bar test”…if you can yell it across a crowded bar and its short and catchy enough to comprehend (and remember), its a winner. So proud to be part of your journey, Jim!
- This week was the first Stanford Climate Ventures class of the quarter. 130 students in classroom and 100 on zoom, all with the burning passion to start companies solving climate change. Dave Danielson’s lecture on starting now really resonated and Jane Woodward talking about how fortunate everyone is to be part of such a special and impactful community left a lasting impression with the group. Wishing Joel, Dave, Jane, David and all the world changing students the best semester yet.
- With that said don’t miss Happy Minute tonight to share in a toast to celebrate these badasses in SCV ecosystem 🥂
Q ♥️ Extended Financials
- This was a big week for Echelon, so big cheers are in store. Join us in one hour for HAPPY MINUTE 🍻! Link for “Click for Zoom” and “Join by Phone” included.
- Huge congratulations to Bryan Pellegrino for unveiling LayerZero to the world! Check out this whitepaper for more information on this game-changing multiblockchain interoperability protocol.
- Our first portfolio company IPO’d: DH is now a live ticker symbol!
- For those who don’t know the background, Dave Thornton founded PatientFinder in 2017 to better connect doctors and patients through analytics.
- Echelon Capital (fka Moxley Holdings) came in as the seed investor in 2018.
- In 2019, PatientFinder was acquired by Definitive Healthcare, a provider of healthcare data and analytics.
- On Wednesday, Definitive IPO’d on the Nasdaq!
- Big energy around SCV as the first class is next week! Big happy hour is planned afterwards at the Dutch Goose with Dave Danielson + dozens of alumni set to join, in addition to new rockstar students.
- Echelon Q3 retreat in Atlanta this week was a huge success. Sacred time together sharing individual visions and learning from each of the businesses that make up Echelon’s unique structure was beyond inspiring. We learned all about Pinnacle Point Roth IRAs from the legend himself, worked hard, and managed to have some fun together too.
J ❤️ Echelon Extended Financials
- See everyone at Happy Minute. Countdown and link to join –> https://happyminute.com
- Dr. Austin Sendek will feature on the panel “Could AI Be The Game Changer?” at The Battery Show this month. The Battery Show is known for bringing together leading advanced battery and electric vehicle engineers, innovators and thought leaders.
- The battery industry has taken a big leap forward as Sila Nanotechnologies Inc.announced yesterday their successful commercialization of silicon anode technology. Check out the coverage from The New York Times below — Also featuring quotes from Aionics Chief Scientist Venkat Viswanathan. As Venkat says in the article: “If this kind of thing gets into a smartphone or some other consumer device, it is a sign of real progress.” We are excited for the bright future of energy storage technology!
- Our friends at Vested are ramping up engineering hiring. If anyone knows of anyone that would be a good fit for Senior Software Engineer (frontend) OR for Senior Software Engineer (Backend) please send them over!
- Follow Echelon on and for all the latest and greatest including our most recent BLOG on “The Importance of Data Solutions for Entrepreneurs”
10 ♥️ Weekly Flop
- WE ARE LIVE ON HAPPY MINUTE.COM!! Click “Attend Event” button to join the party tonight starting in ONE HOUR 🎉 🍻
- Aionics CEO and Founder Dr. Austin Sendek will feature on the panel “Could AI Be The Game Changer?” at The Battery Show this month. The Battery Show is known for bringing together leading advanced battery and electric vehicle engineers, innovators and thought leaders.
- Link to HighTide’s post on the damage done in Grand Isle by Ida -> Here
- Aionics launched a new monthly newsletter focused on the latest research, news, and events in battery informatics. Subscribe via the -> link below!
- Excited to see the engagement impact and connections being made each week within our community.
- Insuretech Gateway is putting on an event on tackling climate change with insurance. Join in!
- The SBWY lending department closed the largest loan to date at <$$>.
- Congratulations to Dave O’Connell for winning the Evanston Cowboy Joe Golf Tournament (Cowboy Joe Club is the Athletics booster for The University of Wyoming). He is now in Laramie representing Evanston (and the bank!) competing against the other winning teams from around the state. Fun Fact of the week: Dave O’Connell can dribble a bowling ball…and he’s apparently a good golfer too.
9 ♥️ Extended Financials
- LINK to join us for Echelon “Happy Minute” TONIGHT promptly @ 5 PT/6 MT/ 8 ET. It’s only 60 seconds, so don’t be late or you will miss all the fun 🍻-Red Solo cup engagement metrics show you are missing out if not attending!
- Check out the cameo with a shout out to Aionics from the Big Baller himself: https://www.youtube.com/watch?v=ixzMDxIzi-o
- Bloomberg Green has highlighted cloud-based battery materials informatics company Aionics as a leading company utilizing artificial intelligence (A.I.) to reduce emissions in a recent article found HERE .
- Proudly enroute to B-Corp Certification but, the road to becoming accredited with the highest standards of verified social and environmental performance, and business transparency is not easy. Check out our (first ever) blog on our journey to certification: https://lnkd.in/djDrtdfG
- Echelon HQ updates:
- Hired an Architect and design firm to start the drawings for the exterior and interior space at our historical HQ building in Evanston. This gets us one step closer to moving the bank in there and making a beautiful and interactive space for the community.
- In addition to our WY HQ we also now have a Florida HQ for HighTide. Pictured is Adrian, CEO of HighTide moving into his new place! Congratulations, Adrian!
8 ❤️ Extended Financials
- LINK to join us for Echelon “Happy Minute” TONIGHT promptly @ 8 pm Eastern / 5 pm Pacific. It’s only 60 seconds, so don’t be late or you will miss all the fun 🍻
- SBWY had their 5th BoD meeting yesterday and happy to announce they are adding 2 additional members to the BoD at the bank-Britney Reddy and Kerri Faber.
- Aionics closed <customer> which is a 6 month <$> project that will keep them cash neutral/positive through the end of the year. Congratulations!
- Check out who announced Austins big news!!
- Community engagement is up. Keep the needs and leads coming!
- The HighTide prop 68 final proposal is ready for submission this weekend-chances look good!
7 ♥️ Echelon Extended Financials
LINK to join us for Echelon “Happy Minute” TONIGHT promptly @ 8 pm Eastern / 5 pm Pacific. It’s only 60 seconds, so don’t be late or you will miss all the fun 🍻
- Bloomberg: Aionics Chief Scientist interviewed on the battery industry: Next-Generation Battery Pioneer Sees Breakthroughs Coming
- Bloomberg: Aionics called out as one of five companies utilizing A.I. : Artificial Intelligence Could Dramatically Speed Up Climate Action
- Stanford University News: Research of HighTide CEO published in distinguished journal: Stanford researchers show sea-level rise may worsen existing Bay Area inequities
- Instyle Magazine: Larkly named as one to 8 trending brands: Amazon Has an Entire Section of Emerging Beauty Brands — Here Are 8 Trending Products
- Lowercarbon Capital announced the closing of their $800MM climate fund: Lowercarbon Capital has raised $800 million to keep unfu*cking the plant. Echelon is invested in and partnering with this great team and it’s an exciting step for the climate vc ecosystem.
- The Stanford Climate Ventures teaching team got together to figure out logistics for the fall class. It will be a seminar-style speaker series with experts coming in to talk about white spaces in climate tech entrepreneurship.
- B-Corp: Gained 1.65 impact points this week in “Workers”
- Impact topic: “Financial Security” gained 1.6 points as we now offer a Roth and traditional 401k that also has socially responsible investment options
- Impact topic: “Health, Wellness, & Safety” gained .05 by increasing the number of eligible employees enrolled in our healthcare program
- Evanston, WY: Fresh Air, Freedom and Fun. Chapter One: “Dave O’Connell’ cowboy boots are made from real cowboys”
An owner of a big investment property is looking to refinance and expand. He doesn’t like to deal with big banks so lucky for him he found the best local community bank in all of the beautiful state of WY. He also really liked the CEO of SBWY so in order to impress him even further he sent in his application, environmental questionnaire, and has his accountant send all required taxes-all within 24 hours of meeting him. He also has a successful service focused business (mechanical, Plumbing, HVAC) that helps fund the investment property.
Tune in next week for Chapter Two: “Dave O’Connell doesn’t read books. He stares them down until he get the information he wants.”
6 ❤️ Echelon Extended Financials
- LINK to join weekly Friday “Happy Minute” at 5pm Pacific/8pm Eastern!
- If you haven’t heard Austin’s Climate Tech Cocktails Podcast yet, you are missing out: LINK
- WHY did Adrian hire an Oklahoma based PI…
In 1999, Susan bought hightide.com to build a website for her travel agency in a small town in Oklahoma. The website was active until 2004, and mostly served the community with a useless repository of links. In 2007, Susan got a divorce and moved to Belize to open Fido’s, a restaurant known for it’s delicious food and bikini competition, which Susan would judge. Fido’s was a happening place in San Pedro’s for many years, but eventually closed down. Susan now lives in Newport Beach, CA, and still uses her hightide.com email.
- Cody and the team at SBWY is working to prepare the requested information for the FDIC visit coming up on August 16th.They have also been working to prepare the Bank for the anticipated future growth through new product offerings, improved infrastructure along with staff training and team-building.
- Dave O’Connell has also been diligently working to improve the interior and exterior at both locations from the neglect during the sale of the bank (4 years). For those that don’t know Dave just know that “Covid gets the Dave O’Connell vaccine”
Most importantly, tonight Cody is attending the county fair and buying pigs from the kids of our target lending portfolio.
- Join the next Aionics Fortnightly on Tuesday, August 10 at 2pm PT/5pm ET: LINK “Electrolight Design Strategies for Lithium Batteries”
5 ❤️ Echelon Extended Financials
- Click –> HERE to join weekly Friday “Happy Minute” at 5pm Pacific/8pm Eastern! Adrian is leading the charge, its been a productive week so join us for a toast to the weekend!
- Congratulations to UnifiHealth for signing a lead term sheet with <Partner> for a <$M> seed round of funding.
- Aionics was mentioned in Bloomberg Green fighting climate change using AI!
- Quimby Melton, Co-Founder and CEO of Confection was featured in Threat Technology. “Confection Wants to Prepare You for the Future of Server-Side Martech”
- B-Corp Certification process is moving along. We increased our impact score by gaining 13 points in Governance. Shifting to Workers where we have 21.93 more impact points available to gain.
- Family friend of the McColl’s, Lorenzo Zazzeri, wins a silver medal in Tokyo for the Italians in swimming in the 400 freestyle relay.
4 ♥️ Needs and Leads
- New promising lead provided for Echelon DS. Initial meeting scheduled for next week. Thank you, Rob.
- Connected HighTide with a Cities Industry Expert.
- Anyone know what an outsourced legal due diligence on a European firm (Germany) might cost in in the context of a minority investment? Just the DD, not the deal itself.
- Further in same context…does anyone have a German firm they could recommend?
4 ♥️ Echelon Extended Financials
- Click here–> to join weekly Friday “Happy Minute” at 5pm Pacific/8pm Eastern
- Congratulations to our friends and partners at Form Energy for raising Series D
- Another big congratulations to Form on the exclusive in the WSJ “Startup Claims Breakthrough in Long-Duration Batteries” We are honored to be on the journey toward sustainable grid-scale energy storage with you.
- Be sure and join Echelon’s next Data-Driven Start-up webinar“The Cost of Customer Acquisition-what to know and why its important to startups” led by Quimby Melton, CEO Confection and Tim Lamb.
- Multiple meetings with architects at 221 10th during my visit to Evanston.
- Huge congratulations to Austin for closing on their first home this week! ?
- Highlight of the week: getting lectured on cost of capital from a negative book value business with excess capital.
3 ❤️ Echelon Community Update
- Click here–> Link to join weekly Friday “Happy Minute”at 5pm Pacific/8pm Eastern
- Thanks to Rob, Dave, Tim, Jason, David, Austin, Joel, Adrian, Taylor, and Cody for joining the initial launch of Echelon Happy Minute. Looking forward to seeing everyone this Friday at 5pm Pacific/8pm Eastern (on the dot-60 seconds goes fast!!) ?
- Congratulations to Austin, Venkat and the entire Aionics team for closing a big contract with a customer they have already worked on three contracts with. This is also a great validator for them because its the first customer to purchase their four-week informatics material/ML course based on the content that Venkat and Austin have used in teaching at CMU/Stanford/Columbia.
- Friday marked the “most important meeting of the year” for Aionics who hosted their first CEO circle discussion. They accomplished their goal to come out of that meeting with a clear vision for Aionics V2.
- B-Corp Certification: Earned <impact points> this week in Governance.
- SBWY had their BoD meeting on Thursday and all went well. Improving rhythm each time allowing stronger focus on pressing projects, most notably the upcoming interim visit from the State of Wyoming.
- Working with the SCV team to determine next gen strategy.
- Data Driven Startup session: The Cost of Customer Acquisition-what to know and why it’s important to startups” is scheduled for July 30 @ 12pm EST. Session will be lead by Quimby Melton, Co-Founder and CEO, Confection
2 ♥️ Echelon Extended Financials-July 10, 2021
- Community Needs/Leads:
- Harry Statter, CEO Frontline, has been in discussions with a few major insurance companies on the adoption of the new Frontline app for their customer base. Need is for React Native mobile coders to accelerate full development of the app. Does anyone have options in this context?
- Adrian Santiago, CEO HighTide, is looking for guidance on building a referral service that incentivizes users to stay on the platform. (e.g. by including insurance).
- We are B-Corp Pending and working hard to obtain our full B-Corp Certification . Support/guidance on how to navigate would be much appreciated!
- Echelon Absolute Return Fund-We are looking to brainstorm on automated ways to handle the thesis driven model as a group.
- Need to build our book of business for Echelon Data Science and Software Engineering. Please send any leads for professional services our way.
- 2 ♥️ weekend updates:
- David McColl, Head of Investments Echelon Capital and Founder Shoreline Capital is live from the Galapagos Islands?
- Teddy is training for a bike race next weekend so he rode 70 miles yesterday up mountains in 100 degree heat!
- Jason Vandeventer, Echelon DS Director of Data Science and Software Engineering, was his friends first official passenger after he obtained his Private Pilot License. They flew from Charlotte to Greenville, SC for lunch.
- We had team members/partners spending time in Maine, Virginia, South Carolina, California, and France.
A ♥️ Echelon Financial Update-July 3, 2021
- The SEC accepted a confidential Form S-1 registration statement from <portfolio company>.
- Aionics Fortnightly had David McColl lead an incredible Q&A session on “Investing in a Zero Carbon Future” this week.
- Working through SCV TA selection and funding for the Fall. Please let us know if you have any student recommendations.
- Echelon B-Corp Certification progress tracker has been incorporated. Overall goal is achievement of >80 impact score measured in 5 categories: 1) Governance 2) Workers 3) Community 4) Environment and 5) Customers. Tracking progress weekly focusing on one area at a time, with the first one being Governance. Full Impact assessment score sheet is attached in “Echelon Decks” section. If you can help in any of these areas please let me know!
- A ♥️ Nonzero value is Purpose. Today marks a very special trio’s birthday. Today Piper (Echelon’s biggest cheerleader) and her brothers enter into double digits 1️⃣0️⃣!! This right here is what Purpose is all about to me!
K ♦️ Echelon Extended Financials -June 26, 2021
- Successful retreat in San Diego with the team this week! In addition to celebrating our accomplishments collectively made in the 1H and planning for the 2H of 2021, we also had the privilege of meeting and spending time with some of our extended partners in the area. “Teammates” is our nonzero value I am highlighting this week.
- Echelon’s B-Corp Certification is front and center. Being a Certified B Corporation is special. This sets companies apart by showing the world that they “Meet the highest standards of verified social and environmental performance, public transparency, and legal accountability, and aspire to use the power of markets to solve social and environmental problems.” Echelon has made the commitment and is currently B-Corp-Pending. Our impact score is 74.4 and we need an 80 to obtain full certification.
- California Procurement Energy Mandate passed, creating a favorable development environment for geothermal. 1000MW by 2026…attributes basically only Fervo can meet ?!!
- Our Nipyata by the name of “Freedom Donkey” is our highlighted Dive Bar of the week.
- (EchCommerce) Larkly was featured in Golf Digest!
Q ♦️ Echelon Extended Financials-June 19, 2021
- State Bank held its 3rd successful BoD meeting this week. The State Banking Commissioner was in attendance and provided helpful insights into how to improve the ratings of the Bank. In the spirit of State Bank’s progress this Q ♦️ weekend we are celebrating the routing number that started it all. Sunglasses that go from white (modeled by Cody) to hot pink in the sun (modeled by Adrian), and golf tees so far…what else can we put it on?
- Migrating Moxley Holdings website over to Echeloncap.com. V1 is done with further content updates coming in the next few weeks.
- Echelon retreat in San Diego kicks off on Monday Excited to spend focused time with the team planning out 2H of 2021!
- Drawn by inspiration from the pickleback shots consumed around lower Manhattan earlier this week, our featured dive bar of the week this week is Nancy Whiskey Pub
J♦️Echelon Extended Financials-June 12, 2021
- The team at Aionics applies state-of-the-art know-how on cathodes and materials informatics to supercharge the development of high performance cathodes for our partners. We’re excited to highlight work from Aionics Chief Scientist Venkat Viswanathan on cathode design that was just published this week in the prestigious journal Nature.
- Also announced on Twitter last night Venkat was awarded 1 of only 8 Chamath Palihapitiya’s climate change awards!
- Congratulations to Venkat, Austin, Lenson and the entire Aionics team…on ?
- Dr. Daniel Ahn is hosting former Fed Chair Dr. Ben Bernanake (who was also chair of the Princeton Econ department while Daniel was there) at a Fireside chat this week.
- Successfully wrapped up SCV with a student-led (non-university affiliated) happy hour party.
- Stanford graduation is next weekend!
- Plugging in an SCV student who is working for Social Capital and Pachama across a few Echelon initiatives.
- David McColl and his brother Daniel (proud founders of the LJSBVC) are chasing their AAA rating this summer. Here they are taking the court at the first big San Diego tournament of the year with the 10 of ♦️ in hand. We have $100 on them getting their rating by the end of summer-Go LJSBVC!!