Wharton Students Explore Climate Innovation in San Francisco

With the support of a Kleinman Center Student Grant, 18 students from the University of Pennsylvania traveled to the San Francisco Bay Area to explore climate technology and innovation. Organized by the Wharton Energy & Climate Club (WECC), the three-day trek brought together a dynamic mix of MBA, JD/MBA, and MES students who share a passion for decarbonization, renewable energy, and innovative climate solutions. This immersive experience offered firsthand exposure to the intersection of venture capital, cutting-edge technology, and energy policy.

Fusion Energy and the Role of Policy

Among the highlights of the trip was the focus on fusion energy—a transformative technology considered by many as the ultimate climate bet. Fusion energy, which mimics the process that powers the sun, has long been viewed as perpetually 30 years away from commercialization. However, recent breakthroughs, such as the National Ignition Facility’s demonstration of scientific breakeven and Commonwealth Fusion Systems’ plans for a grid-scale nuclear fusion plant by the early 2030s, have significantly shortened that timeline.

Startups like Helion Energy and Commonwealth Fusion Systems are leading the charge, but they face significant hurdles—including the need for substantial funding and supportive policy frameworks. Participant and Wharton MBA student Aditi Kambli reflected on the importance of policy, citing an insight shared from an investor at Emerson Collective: “Policy creates markets. In software, we ask ‘will someone buy this?’ In energy, we must first ask ‘will someone build and fund this?’”

Policy also emerged as a central theme in advancing renewable energy technologies. Companies like Tandem PV demonstrated how government-backed incentives, such as tax credits and grants, can bridge the gap between research and commercialization. For example, Tandem PV’s ultra-efficient solar panels aim to tackle the economic challenges of utility-scale solar projects, where up to 85% of costs are unrelated to panels.

Climate Finance, Energy Security, and Innovation

The trek highlighted the vital role of climate finance in supporting emerging technologies. Venture capital firms like Voyager Ventures emphasized the importance of long-term sustainability and strategic funding. “Many VCs evaluate investments as though tax credits and incentives don’t exist,” noted Wharton MBA student and trek participant Lilly Chadwick, reflecting a broader trend of focusing on core business fundamentals. Some firms have even extended fund timelines to 15 or 20 years to accommodate the commercialization horizons of climate tech startups.

Energy security was another key topic. Policies like the Inflation Reduction Act’s Advanced Manufacturing Production Credit are driving interest in technologies such as grid modernization, fusion energy, and critical minerals mining. Startups like Archer Aviation and Charm Industrial showcased diverse approaches to achieving energy independence, from urban air mobility to carbon sequestration. “Climate tech startups are scaling rapidly, and the role of venture capital in fueling that growth cannot be overstated,” said Chadwick.

A Trek That Inspired Commitment

Supported by the Kleinman Center’s Student Grant, the trek inspired participants and provided valuable insights into the future of climate innovation. By engaging with leading venture capital firms and groundbreaking startups, students gained a deeper understanding of the opportunities and challenges in advancing the energy transition.

“We left more committed than ever to driving meaningful change in the renewable energy and sustainability sectors,” said Wharton MBA student and trek organizer Shimmy Cohen.