What started as a student experiment is now a €140 million bet on the future of industrial heat.
In this episode, Mark Verhagen, Founder and CEO of RIFT, shares the hard lessons behind taking iron fuel from the university lab towards commercial scale—and challenging fossil fuels in one of the toughest industries to decarbonise.
Mark explains why sustainability alone won’t win customers, why first movers matter, and how RIFT realised its original business model wouldn’t support the capital needed to scale. He also explores knowing when to pivot, aligning financing with commercial strategy, handling the pressure of fundraising, and building a company when the odds are against you. 🎧 Tune in for an inside look at turning an ambitious student experiment into scalable energy infrastructure. --- 🌿 Hey Climate Tech enthusiasts!
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Check out the Leaders on a Mission podcast, where I interview climate tech leaders who are shaking up the industry and bringing us the next big thing in sustainable solutions.
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Get an exclusive insight into how these leaders started up their journey, and how their cutting edge products will make a real impact.
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Timestamps: 00:00 – Reinventing industrial heat 03:43 – How iron fuel works 08:03 – Student project to scale-up 11:35 – Sustainability isn’t enough 14:04 – Rethinking the business model 16:03 – Learning ahead of growth 18:31 – Knowing when to pivot 23:56 – The reality of fundraising 25:56 – The odds are against you
Useful links: 👇 RIFT Website: https://www.ironfueltechnology.com/ RIFT LinkedIn: https://www.linkedin.com/company/renewableironfueltechnology/ Mark Verhagen Linked: https://www.linkedin.com/in/-markverhagen/ Leaders on a Mission website: https://cs-partners.net/podcasts/ Simon Leich’s LinkedIn: https://www.linkedin.com/in/executive-talent-headhunter-agtech-foodtech-agrifoodtech-agritech/
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