Waste heat is the most boring thing on an industrial site until someone turns it into clean baseload power and hands you the savings. Janice Tran, co-founder of Kanin Energy, joins Jason to break down how her team builds and finances waste heat to power projects, why their biggest competitor is a customer doing it themselves, the fresh $100 million raise, project finance capital stacks, and why heavy industrials with spare land are suddenly prime real estate for data centers.
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00:00 Intro 01:20 Meet Kanin Energy 02:27 Baseload power and project size 04:07 Why waste heat projects are hard 07:25 The real competition 09:06 Phillips 66 and Tallgrass projects 11:16 The $100M raise 14:34 Project finance and capital stacks 19:57 Infrastructure vs venture returns 25:23 Learning project finance 28:05 The founding story 31:02 Building for climate impact 34:03 Data centers on industrial sites 38:52 Wrap up
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