#164 Net-Zero Cement, Surviving the Startup Valley-of-Death, Timing a Pivot, & More w/ Ryan Gilliam (Fortera)

In this episode, Silas and Somil chat with Ryan Gilliam, CEO of Fortera, a company focused on paving the way to zero CO2 cement backed by leading investors including Khosla Ventures and Temasek. 

What makes Fortera so exciting is that they’ve successfully raised all the way to their Series B, making them one of not many later stage companies in climate. We talked about his experience fundraising, the ins-and-outs of their tech, how to win over customers, his experience working with project developers, the current state of supply chain dynamics, the climate capital stack, and more.

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Topics:
**01:44 Intro
**05:08 Experience with the Cement Industry
**09:40 The Problem of CO2 Emissions in Cement
**13:34 Making the Technology Fit Within the Ecosystem
**19:46 Changing Customer Mindsets
**25:50 Integration with Cement Producers
**29:56 Starting Fortera and Convincing Investors
**33:55 Fundraising and Shifting Capital Stack
**37:05 Raising Early Rounds and Bringing in New Investors
**41:28 Transitioning to Project Financing
**44:07 Project Development vs Licensing IP
**46:28 Key Considerations for Commercial Projects
**48:08 Importance of Planning and Preparation
**48:35 Challenges in Supply Chain Management

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Links:
**Ryan Gilliam | Fortera
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**@Silas & @Somil_Agg on X 

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