WEBVTT - Day Two, Part Two from the Bloomberg Green Festival 0:00:02.520 --> 0:00:06.840 Bloomberg Audio Studios, Podcasts, radio News. 0:00:07.160 --> 0:00:10.440 You're listening to Bloomberg Business Week with Carol Messer and 0:00:10.520 --> 0:00:12.920 Tim Steneveek on Bloomberg Radio. 0:00:13.160 --> 0:00:15.800 Well, it spoke earlier with Ryan Speed's managing director of 0:00:15.840 --> 0:00:20.560 sustainability over the last Airlines about airlines decarbonization journey. Yeah, 0:00:20.640 --> 0:00:22.239 it's going to be a journey. It's going to be tough. 0:00:22.280 --> 0:00:23.960 I mean no question that airlines want to get there, 0:00:24.000 --> 0:00:25.160 sure of that light. 0:00:25.280 --> 0:00:27.440 An alternative sustainable aviation fuel. 0:00:27.280 --> 0:00:29.760 They need than justine, they need a lot. 0:00:29.880 --> 0:00:32.400 Yeah, international air travels share of COO two output is 0:00:32.400 --> 0:00:35.519 said to climb dramatically as other segments decarbonized. So as 0:00:35.520 --> 0:00:38.320 you see other parts of the business community use and 0:00:38.400 --> 0:00:43.080 emit less carbon, the share of airlines carbon is going up, right, 0:00:43.159 --> 0:00:44.800 It's going to be an estimated twenty two percent by 0:00:44.800 --> 0:00:47.680 twenty fifty from two percent today if emission aren't cut 0:00:47.720 --> 0:00:49.879 fast enough. This is according to a Bloomberg Big Take 0:00:49.880 --> 0:00:50.640 published last song. 0:00:50.760 --> 0:00:52.680 That's an incredible ramp up. So how do we get there? 0:00:53.120 --> 0:00:55.880 Sustainable aviation fuel that's something you know, you guys talked 0:00:55.880 --> 0:00:59.000 about EV talls or battery powered electric vertical takeoff and 0:00:59.080 --> 0:01:00.000 landing aircraft. 0:01:00.280 --> 0:01:01.279 Our next guest. 0:01:01.080 --> 0:01:03.320 Says he's got a solution, but the only way to 0:01:03.320 --> 0:01:06.000 get there is with hydrogen valve. Miftakoff is the founder 0:01:06.000 --> 0:01:08.200 and CEU of zero Avia. It's a company that says 0:01:08.200 --> 0:01:09.800 it's developing the world's first. 0:01:09.640 --> 0:01:13.280 Zero emission engines for commercial aviation. Great to have you 0:01:13.319 --> 0:01:16.040 back with us, How are you great? Great to be here, 0:01:16.040 --> 0:01:17.360 Thank you, it's good to have you here. 0:01:17.440 --> 0:01:20.600 Remind our worlds since it's been some a little while, 0:01:20.720 --> 0:01:22.080 of what you are working on. 0:01:22.400 --> 0:01:22.560 Yeah. 0:01:22.640 --> 0:01:26.600 Absolutely, So we develop new generation of engines for commercial aviation, 0:01:26.840 --> 0:01:30.600 large aircraft going long distances, taking a lot of passengers. 0:01:31.280 --> 0:01:34.600 So I think the prime solution for that is hydrogen 0:01:34.680 --> 0:01:37.520 is fuel and then hydrogen fuel sales and electric power. 0:01:37.280 --> 0:01:40.200 Train to bring the aircraft into the new future. 0:01:40.360 --> 0:01:41.160 How far can it go? 0:01:42.200 --> 0:01:42.679 It can go? 0:01:42.880 --> 0:01:45.800 Actually, so we have different programs. Yeah, we start with 0:01:45.800 --> 0:01:47.960 a smaller aircraft and then go larger and larger. The 0:01:48.080 --> 0:01:50.720 largest aircraft so that we can readpower will go the 0:01:50.760 --> 0:01:53.600 same distance as you know, my flight later today goes 0:01:53.640 --> 0:01:56.880 to London for example. Right, So we believe that within 0:01:56.920 --> 0:01:59.640 the next twenty years or so, we will have engines 0:02:00.120 --> 0:02:03.240 or aircraft of that size and being able to go 0:02:03.360 --> 0:02:04.280 that type of distance. 0:02:04.480 --> 0:02:06.880 Do you have to build entirely new aircraft or can 0:02:06.920 --> 0:02:11.560 you strap a pair of these. 0:02:10.240 --> 0:02:13.840 For those distances you would have to modify the aircraft. Generally, 0:02:13.880 --> 0:02:16.320 you can get to about half the maximum range off 0:02:16.360 --> 0:02:20.320 the fossil fuel aircraft without modification of the aircraft or 0:02:20.360 --> 0:02:23.639 with minor modifications. Yeah, and that's our first launch will 0:02:23.639 --> 0:02:26.040 be like that, and then we work already with the 0:02:26.080 --> 0:02:27.240 aircraft manufacturers. 0:02:27.280 --> 0:02:29.360 You know, Airbus is one of our major investors. 0:02:29.360 --> 0:02:32.480 For example, We already work with aircraft manufacturers on what's 0:02:32.520 --> 0:02:36.360 called clean sheet design, where they design aircraft around our engines. 0:02:36.760 --> 0:02:39.960 So why twenty years Well, you. 0:02:39.919 --> 0:02:42.200 Know, if you look at the current engines, Yeah, those 0:02:42.240 --> 0:02:45.960 beautiful things, huge engines off the wings of the aircraft 0:02:46.040 --> 0:02:50.799 the nineteen sixties. Yeah, and actually even before that, right, 0:02:50.880 --> 0:02:53.359 So right after the World War Two the first jet 0:02:53.400 --> 0:02:56.840 engines were developed, So we had almost one hundred years 0:02:56.840 --> 0:03:01.080 of development, if you will, right, So years is not 0:03:01.440 --> 0:03:04.080 that huge of a time really, right, but it's what 0:03:04.200 --> 0:03:06.640 takes to get to technology up to that level. 0:03:06.680 --> 0:03:08.560 All right now Mother Earth is calling and saying we're 0:03:08.600 --> 0:03:11.320 running out of time. My point is, if the technology 0:03:11.360 --> 0:03:13.280 is there, is it a case of those engines are 0:03:13.280 --> 0:03:16.680 really expensive, those planes are really expensive, and the cost 0:03:16.760 --> 0:03:19.480 of that changeover is what's holding things back. 0:03:19.840 --> 0:03:21.280 Yeah, that's a significant component. 0:03:21.400 --> 0:03:24.440 Yeah, especially in aviation because you know, you look at 0:03:24.400 --> 0:03:26.560 other motif market, right, and my previous company was in 0:03:26.600 --> 0:03:29.320 the ev space electric vehicle space, and there you have 0:03:29.600 --> 0:03:32.600 the lifetime of vehicle is just ten years, and we've 0:03:32.600 --> 0:03:35.480 been already since Tesla delivered more or less, it's been 0:03:35.520 --> 0:03:38.920 already been fourteen years, but we're still below ten percent 0:03:38.960 --> 0:03:42.000 of the fleet right converted. In aviation, it's even worse. 0:03:42.400 --> 0:03:46.320 The lifetime all the commercial aircraft it's thirty years, so 0:03:46.600 --> 0:03:49.200 you know, if it will take several generations, then. 0:03:48.960 --> 0:03:51.840 We're not there by twenty one hundred, you know. 0:03:52.160 --> 0:03:54.640 So we need to really push from the government side, 0:03:54.680 --> 0:03:57.720 from the operator side for fleet to replacement very much. 0:03:57.760 --> 0:04:00.400 Sooner sounds great. You still need to get the high drogen. 0:04:00.400 --> 0:04:02.160 Now where do you get the hydrogen? 0:04:02.640 --> 0:04:04.920 Yeah, well, and we're here in Washington State, right, which 0:04:04.920 --> 0:04:07.880 is great because the grid is large and renewable, so 0:04:07.920 --> 0:04:11.200 we believe in breeding hydrogen production. We actually make all 0:04:11.240 --> 0:04:13.880 of our fuel for our testing ourselves. 0:04:13.400 --> 0:04:14.800 So that uses a lot of electricity. 0:04:14.880 --> 0:04:16.720 Yeah, it use a lot of extricity, but you need 0:04:16.920 --> 0:04:19.440 electricity anyway to electrify, right, So you. 0:04:19.400 --> 0:04:20.960 Need energy, you need primary energy. 0:04:21.000 --> 0:04:24.839 Now, hydrogen electric approach, the approach that we have is 0:04:24.880 --> 0:04:27.520 the most efficient way to use that energy. So think 0:04:27.520 --> 0:04:31.920 about hydrogen in our aircraft. Is eff actually an energy 0:04:31.960 --> 0:04:35.400 carrier for renewable energy? Is that the batteries are to 0:04:35.520 --> 0:04:38.480 have a fundamentally too heavy right, theoretically you cannot make 0:04:38.520 --> 0:04:39.760 them light enough. 0:04:39.960 --> 0:04:40.760 Yeah. 0:04:40.760 --> 0:04:43.400 For that you can make them lighter today, Yeah, but 0:04:43.480 --> 0:04:45.279 it's still not going to be sufficient for a large 0:04:45.279 --> 0:04:48.800 aircraft going long distances. Hydrogen is the best carrier of 0:04:48.880 --> 0:04:52.000 that energy, so nothing else will really work, right, And 0:04:52.760 --> 0:04:55.320 sustainable alviation fuel you mentioned, Yeah. 0:04:55.800 --> 0:04:59.839 The small portion of that can be made with bio stock. 0:05:00.200 --> 0:05:04.360 Bio feedstock, but this can repower less than ten percent 0:05:04.560 --> 0:05:05.200 off aviation. 0:05:05.320 --> 0:05:05.560 Right. 0:05:05.720 --> 0:05:08.120 For everything else you would have to go what's called 0:05:08.160 --> 0:05:12.200 a fuels, electric fuels which start with green hydrogen and 0:05:12.240 --> 0:05:15.840 then add carbon culture, then adds additional chemical process and 0:05:15.880 --> 0:05:18.200 all that. So the cost of that is so much 0:05:18.279 --> 0:05:21.520 higher than utilizing hydrogen and hydrogen electric that we think 0:05:21.560 --> 0:05:24.880 that you know, we'll have some transition period with biofuels 0:05:25.200 --> 0:05:27.880 and then hydrogen electric is what will take us to 0:05:27.960 --> 0:05:28.640 the real future. 0:05:29.000 --> 0:05:30.919 What do we need in terms of government policy? You 0:05:30.960 --> 0:05:34.040 mentioned the government involvement what specifically. 0:05:33.800 --> 0:05:36.919 Yeah, so we need and you know we have some blooprints. 0:05:36.560 --> 0:05:37.320 The government to lead. 0:05:37.360 --> 0:05:40.320 Yeah, yeah, we have some blooprint deliraty from the TV industry. Right. 0:05:40.400 --> 0:05:43.080 So a lot of transition was driven by the progressive 0:05:43.120 --> 0:05:45.839 governments like California for instance, right with the low carbon 0:05:45.880 --> 0:05:48.760 fuel standards, with emission standards, and then you know there's 0:05:48.760 --> 0:05:52.800 some examples outside of the US like Norway for instance. Right, 0:05:52.880 --> 0:05:57.000 great policies to bring ninety percent plus new vehicles being 0:05:57.040 --> 0:06:00.240 sold are electric. So policies like that for fat eat 0:06:00.720 --> 0:06:04.080 modernization will be super important. And we are launching our 0:06:04.120 --> 0:06:06.480 first commercial products within the next two years. 0:06:06.760 --> 0:06:07.760 So we are talking to the. 0:06:07.680 --> 0:06:10.040 Government saying, hey, you know, the technology is there. 0:06:10.200 --> 0:06:14.159 We're now officially in certification with the regulators across the 0:06:14.160 --> 0:06:18.520 world and it will get here before you know, two years, 0:06:18.560 --> 0:06:19.279 three years out. 0:06:19.400 --> 0:06:20.920 So we need the policies right now. 0:06:22.120 --> 0:06:24.880 What what does that what does that route look like? 0:06:25.000 --> 0:06:27.960 We're the operators who are taking that plante, So we 0:06:28.000 --> 0:06:29.800 need buy in from all constituents here. 0:06:31.440 --> 0:06:32.560 Yeah, yeah, absolutely. 0:06:32.640 --> 0:06:36.039 So we already have over two thousand engines on our 0:06:36.160 --> 0:06:40.320 order book, which is give or take ten billion dollars 0:06:40.360 --> 0:06:43.839 worth of future revenues already pre booked. We have announced 0:06:43.839 --> 0:06:47.159 the production facility actually right here, and the Everts, our 0:06:47.160 --> 0:06:50.160 first production facility are going to be instead of Washington's straight. 0:06:51.680 --> 0:06:52.000 History. 0:06:52.279 --> 0:06:57.440 Yeah, and we're taking over Collins aerospace engine production. 0:06:57.600 --> 0:07:00.440 So it's like a great story, you know, fossil fuels. Yeah. 0:07:00.520 --> 0:07:03.400 Right, so we already have demands, right, So you mentioned 0:07:03.440 --> 0:07:05.479 the Laska Airlines, right, they are our customer, they are 0:07:05.480 --> 0:07:06.080 our investor. 0:07:06.160 --> 0:07:08.920 We have United American and British Airways. 0:07:08.560 --> 0:07:11.800 Amazon, so ecosystem is already supportive. 0:07:11.880 --> 0:07:12.760 I mentioned Airbus. 0:07:13.000 --> 0:07:18.200 Yeah, we just signed also the world's largest deal with 0:07:18.440 --> 0:07:22.080 all three major airports in Canada for example of Vancouver, 0:07:22.280 --> 0:07:26.080 Montreal and Toronto plus Airbus and US together to bring 0:07:26.120 --> 0:07:27.320 them to hydrogen future. 0:07:27.440 --> 0:07:27.640 Right. 0:07:27.800 --> 0:07:32.680 So the ecosystem is getting around this vision. Now we'll 0:07:32.720 --> 0:07:35.840 need the governments to really push it, help us push it. 0:07:35.880 --> 0:07:38.080 Is that the biggest challenge. It's got thirty seconds left here, 0:07:38.160 --> 0:07:40.520 is it? Just you need the government buy in to 0:07:40.520 --> 0:07:41.640 be a bit more aggressive with that. 0:07:41.720 --> 0:07:43.560 Yeah, yeah, and in two ways. Right. 0:07:43.600 --> 0:07:46.400 So we are now in certification, which means that we're 0:07:46.440 --> 0:07:49.680 working with government regulators to bring it to the markets, 0:07:49.760 --> 0:07:52.760 and we need the right level of priority to this project. 0:07:52.800 --> 0:07:56.200 And then once it's done, actual help in bringing the 0:07:56.200 --> 0:07:56.720 fleets over. 0:07:56.920 --> 0:07:58.600 Ten seconds, you said you're getting on a plane to 0:07:58.640 --> 0:08:01.520 London tonight. What year will plane be powered by your engines? 0:08:02.480 --> 0:08:03.480 It will be powerble. 0:08:03.480 --> 0:08:05.320 We will have engines like that by twenty forty. 0:08:05.720 --> 0:08:08.160 All right, countdown is on, not sooner. 0:08:08.920 --> 0:08:11.720 I told you Mother Earth is called I'm realistic, right, 0:08:11.760 --> 0:08:14.320 So you know, it's a lot of a lot of 0:08:14.320 --> 0:08:17.280 startups out there. You know, they say things that they 0:08:17.280 --> 0:08:19.920 can all deliver and that, yeah, they fall on their faces, 0:08:19.960 --> 0:08:20.120 you know. 0:08:20.320 --> 0:08:20.520 Foul. 0:08:20.560 --> 0:08:21.160 Good to check in. 0:08:21.240 --> 0:08:22.160 We look forward to next time. 0:08:22.200 --> 0:08:25.160 Already about Michtakov, founder and CEO of zero Avia right 0:08:25.160 --> 0:08:26.640 here at the Green Festival. 0:08:26.240 --> 0:08:29.000 In seat well, speaking of changing behavior, that's what our 0:08:29.040 --> 0:08:31.440 next guest is certainly trying to do. Because back in March, 0:08:31.640 --> 0:08:34.880 a SpaceX rocket made history. It blasted off carrying a 0:08:34.880 --> 0:08:38.800 special payload, Methane SAT, a highly specialized satellite that can 0:08:38.800 --> 0:08:41.360 spot methane leaks from the oil and gas industry. A 0:08:41.440 --> 0:08:43.880 missions Carrol that other satellites can't see, and with it 0:08:43.880 --> 0:08:46.160 it ushered in a new era of climate transparency. 0:08:46.240 --> 0:08:49.040 That's right, the goal to motivate and enable urgent action 0:08:49.120 --> 0:08:50.760 to reduce methane emissions. 0:08:50.760 --> 0:08:52.360 Now Methane's SAT. We want to talk. 0:08:52.240 --> 0:08:56.280 About that because it's this incredible collaboration between the Environmental 0:08:56.280 --> 0:09:00.400 Defense Fund and organizations including aerospace companies. You've got space 0:09:00.440 --> 0:09:04.760 agencies also around the globe, academic institutions and the nonprofit 0:09:04.800 --> 0:09:07.960 environmental advocacy group, the Environmental Defense Find. 0:09:08.080 --> 0:09:10.600 We got with us the project lead of Methane SAT, 0:09:10.640 --> 0:09:14.080 the guy who made it happen, Stephen Hamberg, Senior vice 0:09:14.120 --> 0:09:17.320 president and chief scientist at EDF. He joined this yere 0:09:17.360 --> 0:09:19.280 on site at the Bloomberg Green Festival in Seattle. We 0:09:19.280 --> 0:09:21.920 should know Michael or Bloomberg and Bloomberg Philanthropy is a 0:09:21.920 --> 0:09:25.160 supporter at EDA. Bloomberg Philanthropy is the philanthropic arm of 0:09:25.200 --> 0:09:28.160 Bloomberg LP, the parent company of Bloomberg Radio. 0:09:28.640 --> 0:09:29.040 Welcome. 0:09:29.600 --> 0:09:32.120 First of all, congratulations that mark launch was a very, 0:09:32.240 --> 0:09:32.880 very big deal. 0:09:33.160 --> 0:09:34.840 Absolutely, we couldn't be more excited. 0:09:34.880 --> 0:09:37.840 But really now it all begins because getting it into 0:09:37.920 --> 0:09:40.120 space and making sure it works is the first step, 0:09:40.120 --> 0:09:42.480 but the real issue is how do we generate the 0:09:42.520 --> 0:09:43.800 data and make sure it's actionable. 0:09:43.960 --> 0:09:45.199 So what's the data that it's found. 0:09:45.480 --> 0:09:49.280 Well, so far we've only been really testing. We've downloaded 0:09:49.360 --> 0:09:52.360 data and it's looking really good. We're really excited because 0:09:52.880 --> 0:09:55.520 it's really highly precise data. That's what we need to 0:09:55.559 --> 0:09:57.400 be able to answer the three basic questions. 0:09:57.480 --> 0:09:59.480 Okay, so let's answer those three basic questions because I 0:09:59.480 --> 0:10:01.240 want some content here to take a big step back 0:10:01.400 --> 0:10:04.360 and understand exactly what methane SAT is measuring here. 0:10:04.960 --> 0:10:06.160 Because there's an. 0:10:06.040 --> 0:10:09.200 Issue with gases being released that are invisible to the 0:10:09.280 --> 0:10:11.920 naked eye, absolutely, and that happen all over the world. 0:10:12.160 --> 0:10:14.880 Correct, So what we need is a global picture and 0:10:14.920 --> 0:10:16.960 we need to be able to figure out where are 0:10:16.960 --> 0:10:20.040 those emissions occurring, how much is being omitted, and how 0:10:20.080 --> 0:10:22.440 they're changing over time. And we need to do that 0:10:22.480 --> 0:10:25.520 across the entire sector. And we can do that with 0:10:25.600 --> 0:10:28.800 methane set because we designed it with such high precision 0:10:29.679 --> 0:10:33.800 and we are delivering the data as actionable data, meaning 0:10:34.120 --> 0:10:37.679 we're actually doing the processing to get it all the 0:10:37.760 --> 0:10:40.880 way to how much is being omitted from where. 0:10:41.880 --> 0:10:43.040 Where is this data going to go. 0:10:43.440 --> 0:10:45.600 So the data is going to be posted public, anybody 0:10:45.600 --> 0:10:47.320 can look at it. It's free of charge for any 0:10:47.320 --> 0:10:51.079 non commercial use. And it will also be of course 0:10:51.280 --> 0:10:54.480 ingested into systems that allow it to be able to 0:10:54.520 --> 0:10:58.960 be integrated to whether financial services or whether it's just 0:10:59.320 --> 0:11:02.600 into regulatory processes. And so we have a whole team 0:11:02.640 --> 0:11:05.199 because just producing data doesn't you guys know, it doesn't 0:11:05.280 --> 0:11:08.559 cause change, right, So we have a whole team from producing. 0:11:08.240 --> 0:11:09.520 The data all the way through the action. 0:11:09.640 --> 0:11:12.520 So there's a whole group that works with us on advocacy, 0:11:12.640 --> 0:11:15.559 ensuring that the stakeholders are engaged, that people understand how 0:11:15.559 --> 0:11:17.880 to use the data, because these date have never existed before. 0:11:17.880 --> 0:11:19.920 We have to get people to understand how to use them. 0:11:19.960 --> 0:11:22.440 Are the stakeholders engaged to dents So I'm sure some 0:11:22.480 --> 0:11:24.040 of them are going to be a little fearful right 0:11:24.120 --> 0:11:25.680 in terms of what this date is going to show. 0:11:25.840 --> 0:11:28.520 Absolutely because it's going to show obviously those who are 0:11:28.520 --> 0:11:30.480 doing a good job and those who are not. Right, 0:11:30.960 --> 0:11:33.720 but absolutely so, the oil and gas industry knows that 0:11:33.760 --> 0:11:38.720 the things are changing. Transparency will be part of the future. 0:11:39.040 --> 0:11:42.640 And we're seeing also in the financial industry where you're 0:11:42.640 --> 0:11:44.400 seeing a lot of interest. I spent a lot of 0:11:44.440 --> 0:11:48.160 time going to many of the major financial institutions talking 0:11:48.200 --> 0:11:51.560 about this, so we are seeing engagement, but it's still 0:11:51.559 --> 0:11:52.240 early days. 0:11:52.760 --> 0:11:54.520 What are the financial institutions want to know? 0:11:55.200 --> 0:11:58.480 They want to know how the data is actionable, right, 0:11:58.520 --> 0:12:01.160 And part of it is a conversation. So we're asking 0:12:01.200 --> 0:12:03.880 what do you need to use it to make more 0:12:03.880 --> 0:12:06.320 informed decisions? And it's not just so we have the 0:12:06.360 --> 0:12:08.440 financial sector, but we also have regulators. 0:12:08.480 --> 0:12:10.559 What do you need to know? So we have multiple. 0:12:10.160 --> 0:12:15.240 Different stakeholder groups, including civil society, and we are working 0:12:15.720 --> 0:12:18.840 with those groups to make sure we understand what type 0:12:18.840 --> 0:12:21.760 of data will be most effective for them to take 0:12:21.800 --> 0:12:24.560 the actions they need to take. And that's again something 0:12:24.600 --> 0:12:27.800 no one's ever done before, creating these diverse products out 0:12:27.800 --> 0:12:28.800 of a single data stream. 0:12:29.200 --> 0:12:32.560 What is the action basic in the sense that we 0:12:32.640 --> 0:12:35.200 need to make sure we trap the methane that's being 0:12:35.240 --> 0:12:37.960 released into the atmosphere. Is that at its most fundamental 0:12:38.000 --> 0:12:39.839 basic level, at the whole point of this. 0:12:39.840 --> 0:12:43.240 Right, So there's no need so we know that almost 0:12:43.240 --> 0:12:47.040 all the emissions that occurring from the production of oil 0:12:47.080 --> 0:12:51.160 and gas don't have to happen. The technology exists, the 0:12:51.160 --> 0:12:54.080 emissions can be reduced cost effectively in almost all cases. 0:12:54.440 --> 0:12:57.200 And again we're not talking about the burning of fossil 0:12:57.200 --> 0:12:59.600 fuels as a result of the end user. We're talking 0:12:59.640 --> 0:13:01.280 about the production. 0:13:01.040 --> 0:13:04.000 The production and the transport. Most of it's occurring at 0:13:04.000 --> 0:13:06.600 the production end, so it's what we refer to as upstream, 0:13:07.040 --> 0:13:10.880 and that actually the emissions are large enough right now 0:13:11.160 --> 0:13:12.880 that if you were to as I do. I have 0:13:12.960 --> 0:13:16.120 a natural gas boiler in my basement, and if I'm 0:13:16.160 --> 0:13:19.959 burning that natural gas, the impact on the climate over 0:13:20.000 --> 0:13:22.280 the next twenty years of my doing that half of 0:13:22.320 --> 0:13:25.480 it roughly comes from the methane loss before I ever 0:13:25.520 --> 0:13:26.920 burn it, and half from the. 0:13:26.840 --> 0:13:28.040 CO two that's being omitted. 0:13:28.240 --> 0:13:30.600 Stephen, what do you think in terms of the general public, 0:13:30.800 --> 0:13:34.480 if they knew that is happening, like in their own homes, 0:13:34.720 --> 0:13:37.000 how it might change their activity and their actions. 0:13:37.360 --> 0:13:39.319 Well, I think the key is to give them options 0:13:39.360 --> 0:13:42.000 and to make sure that the suppliers of the gas 0:13:42.360 --> 0:13:46.040 are held accountable, because you don't. It's it's absolutely clear 0:13:46.320 --> 0:13:49.680 there's a wide difference in these associated emissions, and there's 0:13:49.720 --> 0:13:53.960 nobody producing oil and gas who has to create these emissions. 0:13:54.160 --> 0:13:56.600 This is the technology exists. This is why this is 0:13:56.760 --> 0:13:59.120 not even low hanging fruit. This is fruit on the ground. 0:13:59.480 --> 0:14:02.720 Why haven't they done something? You know, this always blows 0:14:02.760 --> 0:14:05.080 my mind of like doing the right thing. Right, They've 0:14:05.080 --> 0:14:07.720 got to know that they're emitting this into the air. 0:14:08.080 --> 0:14:08.320 Well. 0:14:08.360 --> 0:14:11.160 Actually, when we start well, that startine is when. 0:14:11.080 --> 0:14:12.400 We started this work. 0:14:12.520 --> 0:14:14.520 So when I started working on this fourteen years ago, 0:14:15.160 --> 0:14:19.440 the companies actually did not know. And as we collected 0:14:19.520 --> 0:14:23.280 data on the ground, not with satellites, there were surprises 0:14:23.320 --> 0:14:26.920 at every corner. And even today, most of the oil 0:14:26.960 --> 0:14:29.640 and gas companies have a very incomplete understanding of how 0:14:29.680 --> 0:14:32.240 much they're being emitted. So the key is to provide 0:14:32.320 --> 0:14:34.640 high quality data. We do not have enough high quality 0:14:34.680 --> 0:14:37.600 data about greenhouse gas emissions across the board. 0:14:38.200 --> 0:14:39.680 Is it just the oil and gas companies or are 0:14:39.720 --> 0:14:41.760 we seeing methane as a byproduct when it comes to 0:14:42.080 --> 0:14:44.040 the decomposition of trash at landfills. 0:14:44.200 --> 0:14:46.720 Absolutely, so we have to think about all of the 0:14:46.760 --> 0:14:49.400 sources of methane. We focused on oil and gas first 0:14:49.760 --> 0:14:53.800 because of course it is economically so easy to do. 0:14:53.880 --> 0:14:55.960 I mean, it's literally no net cost. It just got 0:14:55.960 --> 0:14:58.600 to get action. But we have to worry about waste 0:14:59.040 --> 0:15:03.160 and also agricult it's a very large source of which cows, 0:15:03.480 --> 0:15:07.960 enteric fermentation, waste from animals, also rice production. 0:15:08.240 --> 0:15:10.080 But again there are tools we can use. 0:15:10.200 --> 0:15:11.520 It's more complicated. 0:15:11.080 --> 0:15:13.640 Because we're talking about many more actors and we're talking 0:15:13.680 --> 0:15:17.320 about a more complex system. But we are working New Zealand, 0:15:17.400 --> 0:15:19.920 who's a partner in the New Zealand Space Agency. They 0:15:19.960 --> 0:15:23.800 have a whole program to collect data from nothing SAT 0:15:23.840 --> 0:15:27.320 on agriculture around the world, and we'll again build that 0:15:27.360 --> 0:15:29.640 picture so we can start to get some better action. 0:15:29.880 --> 0:15:31.160 You mentioned that as a partnership. 0:15:31.160 --> 0:15:33.280 What are the partnerships that you already have like in 0:15:33.320 --> 0:15:35.640 the work so that you anticipate are going to be 0:15:35.640 --> 0:15:39.800 coming in the future that will really kind of magnify 0:15:39.840 --> 0:15:41.360 the impact of this. 0:15:41.800 --> 0:15:45.600 So we have partnerships with the UN Environment Program, the 0:15:45.640 --> 0:15:49.120 International Methane Emissions Observatory, we have partnerships, as I said, 0:15:49.120 --> 0:15:53.880 with New Zealand Space Agencies. We're partnering with philanthropic groups 0:15:53.960 --> 0:15:55.840 right so the Basos EERF Fund has been an integral 0:15:55.920 --> 0:15:59.280 part of the funding that to make this possible, because 0:15:59.320 --> 0:16:01.920 we want to be able to provide this free. We 0:16:02.000 --> 0:16:06.000 also have partnerships that allow us to get that data 0:16:06.000 --> 0:16:07.480 out into many people's hands. 0:16:07.800 --> 0:16:08.120 Stephen. 0:16:08.160 --> 0:16:10.240 As I mentioned, this was a really big deal when 0:16:10.240 --> 0:16:13.080 the satellite launched back in March. One of the reasons 0:16:13.080 --> 0:16:15.240 it was is because it has a complex set of 0:16:15.280 --> 0:16:18.000 instruments that allow it to see what no other satellite 0:16:18.000 --> 0:16:19.840 has been able to see before. Talk about the tech 0:16:20.200 --> 0:16:23.040 on board here, like what gives you the power to 0:16:23.120 --> 0:16:24.280 be able to see this through space? 0:16:24.760 --> 0:16:26.920 Well, the real advantage of being here in the United 0:16:26.960 --> 0:16:30.520 States because we're taking advantage of technologies that at the 0:16:30.600 --> 0:16:33.600 very cutting edge, so it's itar protected, right. We have 0:16:33.800 --> 0:16:38.400 all kinds of controls appropriately and so we can provide 0:16:38.880 --> 0:16:42.480 a sensitivity so we can see very very small differences 0:16:42.520 --> 0:16:48.840 in concentration with these very highly specialized detectors. And then 0:16:49.040 --> 0:16:51.040 the kind of technology we have in the ability to 0:16:51.040 --> 0:16:53.920 put it together. We worked with Ball Aerospace, now BAE 0:16:54.720 --> 0:16:57.400 would really the leading instrument maker probably in the world. 0:16:57.440 --> 0:17:00.560 They built the Hubble telescope, the Web telescope, and really 0:17:00.560 --> 0:17:04.080 bringing that kind of level of technology and working with 0:17:04.880 --> 0:17:10.560 colleagues at Harvard University and also at Smithsonian Astrophysical Observatory, 0:17:10.600 --> 0:17:12.600 So we just got a lot of really smart people 0:17:12.920 --> 0:17:16.280 leaning in with the world's best technology so that we 0:17:16.359 --> 0:17:20.679 are able to really take the technology a major step forward. 0:17:20.960 --> 0:17:23.280 So when do we start to see lots of data. 0:17:22.840 --> 0:17:25.120 Well, lots of data will be the beginning of next year, 0:17:25.240 --> 0:17:27.920 but we start seeing data before will actually be doing 0:17:28.240 --> 0:17:30.480 we have an aircraft version and we will at the 0:17:30.560 --> 0:17:33.359 end of the month be actually releasing a comparison of 0:17:33.400 --> 0:17:36.199 oil and gas methane emissions across the United States that 0:17:36.240 --> 0:17:39.000 we collected from the air with a very comparable instrument. 0:17:39.240 --> 0:17:41.280 And then we will be releasing data because one of 0:17:41.280 --> 0:17:42.639 the things we have to make sure is that we 0:17:42.720 --> 0:17:45.920 really are confident that the data is solid and that 0:17:46.040 --> 0:17:49.120 is fully validated, calibrated. So we're taking our time because 0:17:49.119 --> 0:17:50.880 we need to make sure we get it right. 0:17:51.000 --> 0:17:51.719 How do you do that? 0:17:51.800 --> 0:17:53.680 How do you make sure because you know they'll benet 0:17:53.760 --> 0:17:56.360 sayers and possibly people challenging you, and we do. 0:17:56.359 --> 0:17:57.520 Want to make sure you get it right. 0:17:57.600 --> 0:17:59.320 So how do you make sure that the information that's 0:17:59.359 --> 0:18:00.520 collected is accurate? 0:18:00.640 --> 0:18:03.200 So, of course, and we want people to challenge this 0:18:03.240 --> 0:18:04.919 because we need to get we're doing something new. You 0:18:04.960 --> 0:18:06.800 want to make sure you get it right, as you said, 0:18:07.000 --> 0:18:10.080 So what do you do? There are sensors around the 0:18:10.119 --> 0:18:12.679 world that actually look up and give you data, and 0:18:12.720 --> 0:18:15.040 you compare what you're seeing down to what's going up. 0:18:15.359 --> 0:18:17.760 We also have data that we've collected in other means 0:18:17.760 --> 0:18:21.480