Entrepreneurs for Impact (EFI) Podcast: Transcripts
#176:
Tim Boeltken, Managing Director of INERATEC — Global Leader in E-Fuels. $129M Series B. What Makes German Engineers Cry. $14T Total Addressable Market in Shipping, Aviation, Transportation..
Podcast Introduction
Chris Wedding:
My guest today is Tim Boeltken, Founder and Managing Director of INERATEC. INERATEC is an E fuel company based in Germany that recently raised $129 million to transform 1 gigawatt of renewable energy into 125 million gallons of sustainable E fuel by 2030. Tim brings a PhD in chemical engineering and nine years of dedication along with his team to building this venture. In this episode we talked about how their total addressable market is $14 trillion. That's with a T with use cases in aviation, shipping and heavy duty transport. We covered their BOO model which as I read it looks like boo.
Anyway, to build, own and operate E fuel plants around the world, we cover the science of making E fuels, why they're choosing to locate their plants next to other existing facilities, why he's also not in the 5am Club, their global expansion plans, how his founding team has stayed together for so many years, and most importantly, what makes German engineers cry. That's a compliment by the way. Anyway, we've covered a whole lot more. Please give Tim and INERATEC a shout out on LinkedIn, Slack, or I guess I should say X by sharing this podcast with your people. Finally, one last request before we get into it. Hop on over to Apple or Spotify. Maybe right now or right after this particular episode to rate, review and follow this podcast as you know and hopefully value.
I don't take any sponsors for this podcast, so this little gesture of support maybe takes a minute. It means a lot to me and the guest and helps folks find these.
Awesome guests and listen to their stories.
Thanks so much. Hope you enjoy it.
Podcast Interview
Chris Wedding:
Tim Boeltken, co-founder and CEO of INERATEC. Welcome to the podcast.
Tim Boeltken:
Hi Chris, amazing to be here.
Chris Wedding:
All right, so technology is amazing. Here I am in my Duke University office talking to you somewhere near Frankfurt, Germany. You can clarify for us here in a bit. The engineering mecca of Germany and talking about drop-in replacement fuels that are carbon neutral. And I'd like to start Tim with some maybe jaw-dropping if you will, stats in your old recent press release on your giant capital raise led by Piva Capital. I think your series B, I believe it references the following here. Let's get, let's just get started. The market for drop-in E fuels or synthetic fuels expected to triple by 2030 reaching almost 14 trillion with a T by 2050. So take it from there. Why is Euros market so big Tim?
Tim Boeltken:
Now the market is so big because just look around at the cars driving the roads today. Look about the demand for mobility, the aviation sector, the shipping sector. So all of these sectors today are relying on fossil fuels. And while everyone is discussing about direct electrification with electromobility, which is like a very sweet solution for passenger cars, it's not a solution for flying, for shipping, for heavy duty transportation and these so called hard to abate sectors, they will rely on these carbon neutral synthetic fuel. And my company INERATEC is really entering the phase of this next era mobility. So we are going into this new era. We have developed an amazing technology to produce low cost carbon neutral fuel. And we already built it, we already operate it and this is how we will tackle the market in the future.
Chris Wedding:
And I think it's important what you just said in that this is not something that is going to happen, but it is happening. And I believe also from that same press release there's a reference to expansion of your current facility by 1500 x resulting in the reduction of CO2 equivalent to 1 point. I call it 1.1 billion trees. Does this sound right? Am I getting the numbers correct here?
Tim Boeltken:
Yeah, the numbers are massive. So INERATEC is a tech company. We build and sell and we build and operate our plants. So we built these chemical synthesis units and these units they convert green hydrogen and carbon dioxide. So the greenhouse gas that nobody wants in carbon neutral E fuels. And on the one hand we deploy the technology. We are currently building the largest plant ever in Frankfurt, Germany, next to the Frankfurt International Airport. But this is our pilot plant. It's our first industrial plant producing something in the range of 2,700 tons of E fuel per year. And it's not just like a theory. So we are already deploying the units, we have delivered the first units, the metal is on the ground. And we have done this within our Series A fundraise. And now we achieved our Series B fundraise.
And this money helps us to really scale the company, go international, being in a position to provide the plants, the technology to all the customers. We are now having the Sage shuttle because at the end it's a global issue, it's not a European issue, it's not a US issue, but it's happening all over the world to produce carbon neutral fuels to achieve the Paris climate goals. And we are the front runner in this. So we are one of the leading companies, we are today the largest E fuel producer in the world. And I mean you have highlighted the numbers. We are doing our very best to be also the leading issue producer in the future.
Chris Wedding:
And how are you able to accomplish so much actual kind of product delivery, if you will, in the field just in your series day, which sounds early sound advanced?
Tim Boeltken:
Yeah, that's a very good question. The answer is our technology is not just betting on economy of scale. So, so what we do differently than our competitors in the classical oil and gas or fossil industry is that our technology is modular. So we have developed this beautiful modular technology. It has actually been developed over the past 20, 25 years at our university in Karlsruhe Institute of Technology. And we have spun it out and we have grown it since then. And the nice thing is this technology scales very identically to the upstream technology, which is electrolyzers, which is direct air capture unit, which is all the things you need to make the unit run. And by that we can actually deploy module after module.
We can de-risk the project and we can very similar to the renewable energy products like solar, like wind, we can build up module after module and we will continue to do so until the fossil industry is disrupted and the renewable low carbon or zero carbon fuels will take over the market. And by this modular approach we, on the one hand we de risk the projects, but on the other hand, with module after module we deploy, the prices go down, the products are getting cheaper, and by that we will have the market penetration over the next 10, 20 years.
Chris Wedding:
Well, you took the next question right out of my mouth, Tim, which was question or comment, which is because this is a modular approach. You do benefit from the same kind of falling cost that, you know, a solar panel, you know, wind turbines, et cetera, have seen versus a very large bespoke, you know, site customized engineering project. Very, very different.
Tim Boeltken:
You mentioned earlier that giving some auditing on that. So we really, we standardize these projects. We are not custom making them. So we are standardizing and then we can roll out module after module. So by that we can really decrease the capital costs and really focus on the operational costs, which is like identifying the sweet spots for our plants. This is wherever we have access to cheap green hydrogen, cheap carbon dioxide, because these are the main cost drivers for the E fuel production.
Chris Wedding:
Well, again, you took the next question out of my brain here, Tim. Where do you source the green hydrogen? Banned CO2 from?
Tim Boeltken:
Primarily, yeah, currently in the plants we have built up majorly. In Germany we are focusing on green hydrogen, so especially going to existing electrolyzers. In Europe we have a very specific legislation. So they also focus on where the CO2 is coming from. So in our Frankfurt plant we have biogenic CO2. So it's CO2 which is coming from a biogas plant. So here we will convert roughly 10,000 tons of CO2 per year into these set E fuels. But in any. So in general we are agnostic to the feedstock. So we just need the hydrogen. We need the CO2 we can also use with syngas. We can also work with syngas and it is like different from country to country. So we have now the first projects in Chile. Chile is a very attractive market because it has a very low green electricity costs.
We have the first project in Southeast Asia because they are just like really hungry for these renewable fuel. With the new investors we have, they are majorly coming from the U.S. And we also know that part of the infamous IRA, there's a lot of things going on in the U.S. So we are also eyeing over the large pond to also deploy our modules in the US and at the end it just comes to the fact that we want to provide as many plants as possible, provide the E fuels at the lowest cost possible.
Chris Wedding:
Where is your oil facility in Southeast Asia?
Tim Boeltken:
Southeast Asia actually. We are eyeing to Malaysia, we are eyeing to Singapore as very attractive markets. One sweet spot is also Australia. So they have a lot of sun, they have a lot of area, they have hydrogen strategies already in place. So they will be one of the drivers if it comes to availability of green Hydrogen and these are the sectors and the areas we are looking in this area.
Chris Wedding:
And just to confirm for listeners, it's green hydrogen. It's captured CO2 in this case from a biogas plant there in Germany. But importantly, you're using green electricity from the grid to facilitate the creation of the syngas.
Tim Boeltken:
Yeah, yeah, you can actually use green electricity from the grid. You can put it green via PPAs. We are currently working on our technology to be so load flexible that we can also have an off grid connection. So this is very important for areas like the deserts I mentioned Chile before. So if we are off grid, you have really the chance to get really cheap green hydrogen in the future. But for this also your technology needs to be load flexible. That's one of our assets. So coming back to the technology, so we have developed like one of the most compact, very load flexible chemical reactor technology. So what we deliver at the end to our customer is a turnkey ready plant, including everything, the chemical process, the reactors, the full automation, now all the safety equipment.
You need to really have a plug and play system ready, very similar to electrolyzers. So it's a turnkey system which you can directly sell to a customer, which you can connect to your hydrogen source, which you can connect to your CO2 source and then convert the gases into the fields.
Chris Wedding:
Okay, so I think I have the answer, but let's just confirm for listeners. How do you all make money? Is it selling this modular system? Is it some sort of arrangement where you provide those and you sell on a kind of performance or delivered kind of gallon liter basis? What does that look like?
Tim Boeltken:
That's a very good question, Chris. So today we are doing both. So on the one hand we are a tech company. We have customers that actually sell buy the plants. So we have a so called plant sale business model where we sell the turnkey ready plants. We have some recurring revenues on maintenance and operation support. Of course we are like heavily as we have very heavy IP on the processes and on the technology we sell. So there's also some recurring revenues from our ip. But if you see the numbers we want to achieve, we are targeting to have like 1 gigawatt of synthesis capacity deployed. So the gigawatt means the electrolyzer capacity. So this translates something in around of 125,130 million gallons per year of production capacity which we want to deploy by 2030.
So this is not achievable just by the plant sale business model. So with our modular technology we decided to test the so called B-O-O business model. So build on and operate our own plants. Again here we are learning from the renewable energies. So when you standardize your product, when you roll it out, you can actually finance it via debt financing with infrastructure funds and so on and so forth so that you don't need to deploy all of your money into the infrastructure, but you can leverage it. And here we're doing at Frankfurt the first build on operate plot which means we sell the fuel. And selling the fuel is like an emotional topic, right? You have totally different customers. You have customers from aviation, you have customers from shipping, from road transportation, from the chemical industry sector. And it's a pull market.
So these fuels are very new, everybody tries to get hand off them. We have in Europe the first quota set. So industries have to use these fuels to comply with the market. Otherwise they have to pay very high penalties. So the market is very hot and the product is very hot and we are in a position to really deliver the fuel as a pioneer to the market and we can achieve very attractive prices. And this also helps our company to grow the revenues and also start financing the follow up projects. Because Frankfurt, it's a very small plant. So we Talk here about 7 to 10 megawatt of capacity, still the largest plant in the world.
But we are already eyeing to the projects which are going into the 50, 100, 400, 500 megawatt capacities to then as said achieve the 1 gigawatt capacity by 2030.
Chris Wedding:
Got it. Let's go back to the capital side. You talked about how the projects would be financed. A really off balance sheet. You know, true project finance sounds like for the B-O-O models, way more debt there. But on the corporate side we talked about this large, I think $129 million Series B led by Eva maybe talk to us about how you were able to get the earliest investors versus I guess kind of growth stage investors. And what some of you is, look, this is a high CapEx, you know, hard tech, deep tech business. I'm scared of that. Right? There are risks there for various reasons.
Tim Boeltken:
I mean the thing is climate change is happening and what I always keep saying is you cannot blockchain climate change away. So it's not an issue you solve with software. You need to deploy the metal and it needs to be done anyway. If we don't do it, we have a big problem. And what our investors got and understood not only in the series B but already in the series A where we have very strategic investors on board, financially strong investors. I mean now you mentioned Piva Capital from the US we have HG Ventures, we have TDK from Europe, we have mral, just to name a few. From Asia we have Samsung Engineering, Samsung Venture Fund. So great parties from the A round we already had like companies like ng Safra, Honda and some climate tech investors. So they all got this thing.
If we have a modular technology we can de risk it. Just look back 20 years ago, what was possible with solar and wind where nobody believed and said it's not going to happen and they need these growth rates. And they succeeded because they had standardized modules. You can really get down the CapEx, see how cheap the systems got and at the end the renewable energy is cheaper than the fossil energy. And we believe that with a quite identical approach with the modularization of the chemical industry, we will achieve the same because our modules are made to be standardized and mass produced. So we will decrease the CapEx. And on the other hand our modules are in a scale which enables us to build up module up after module in these markets we will find a different set of investors.
We don't need a very large oil and gas industry deploying some couple of billions to run such a plant, but we are in a matter of millions. So we addressing a total different type of investors and together with the de risking what I said with every module you deploy, you demonstrate that it works, you demonstrate the technology, you demonstrate the business is an asset. And so far we have deployed over 16 plants already. And INERATEC is incorporated in 2016, we had our A round in 2020 or 2021 we have now our B round and this is now really the growth financing round. And answering your question, the $129 million are really going into the top co financing.
So structuring the company, professionalizing the company, bringing the company in the position to start several joint ventures, starting different projects in parallel, stabilizing the company, getting the right qualifications in we need for scaling the business and also getting let's say the metal on the ground in our premises. So preparing mass manufacturing, preparing serious production, preparing the standardization. This is where the money is for. It's not for project financing. That's a different story. And we will tackle this in the next month, right?
Chris Wedding:
I think it's easy for listeners to think oh man, Tim and team are just crushing it. Everything goes their way. It's so easy, which is usually not the truth. Describe perhaps one or two of the hardest parts of building the company to date. Maybe that theory or hypothesis you had didn't work out as planned. So some setbacks and or pivots to new direction.
Tim Boeltken:
I mean, things always go a bit different in technology development, right? You have an idea of a product and we are in the middle of our first of its kind plot. So it's good that the plant in Frankfurt we are building has a total capital in need of 40 million. I mean, yes, it's a decent number, but it's not billions. But still, when you think what always comes out day after day in the daily business with this project. So you need to digest a lot. But the good thing is we have a very dedicated team. We have a very experienced COO coming from the manufacturing business.
So from the feedback also we have received from the investors that have invested, they say, guys, the way how you run it, so not you like me in personal, but like the entire management we're having and the entire like professional staff we're having is quite excellent. And they have never seen this level of professionalism. So this brings me a certain level of comfort so that I can sleep during night. But of course, I mean, it's not in a situation now where we say all problems are solved. We can just like roll out the technology, like standardize cars or whatsoever. So we are still working heavily also on the product, improving the product, getting the efficiencies up, producing them faster, producing them cheaper. So these are the things which are daily business for us.
Chris Wedding:
So that's great, wonderful feedback from the investors. And for sure, whether it's corporate or project, lots of challenges. But let's get a little more specific. Let's pick out rather one or two of those challenges that maybe the audience can relate to. Perhaps, maybe.
Tim Boeltken:
One thing is. So there's a difference between announcing projects and really executing projects. So if you really start standing in the dirt, you are digging the first holes. You are not working with like nice PowerPoint slides, but you really have contracted all your vendors. The vendors are probably not delivering the way you thought, or they have confirmed a certain delivery date and then they call you and say, hey guys, we are like eight months delayed. So to cope with these things is challenging. So we have this. The good thing is we have a lot of investors who are coming from the infrastructure and the chemical plant business. So we have one very close investor, which is the MPC Group. They have a subsidiary called Ferrostaal, so a plant construction company. And they support us a lot.
So they help us on expediting, they help us on making play management things that are, I would say normal for EPC companies. But which are not normal for startups. They say, hey, I have a nice tech and I just want to sell my tech. And now it's like really, you're hitting reality and you have to execute, you have to keep the timeline of the projects because you have off takers and the off takers are waiting for the fuel and they say, hey guys, are you delayed or not? So I'm waiting for my fuel. So these are the daily struggles you're having. And I mean we are experiencing the first time because it's the first issue facility in this scale which is being built. So we have no standard where we can relate to.
And maybe the other challenge I usually see is like bridging the gap of what are you doing? You know you are top notch but you also know there's a market, there are competitors and the competitors are sometimes, I would say having shiny presentation, shiny. Yeah, we will build a big plot in the next year and you already know what challenges they might also face, but they are not talking about it. And investors approach you and say, you're doing this. But look at these guys, they are doing this and this is yeah, much nicer and much shinier. And you say, yeah, guys, just wait until reality is kicking in. So it's not a shaming and blaming because I think we are all working for the good cause. The heat is really picking up. The market you mentioned it's going to triple soon.
The tum is amazing. So a lot of players will jump into this market and it's heavily needed. So if we don't do it, if investments are not taking place, if metal is not put underground, we will definitely not be in the position to achieve the Paris climate goals. Because at the end it's quite clear electrification only will not solve us and it will not bring us to the achievement of the climate goals.
Chris Wedding:
Yeah, I think you make, I'm going to stress two points that you made. One is the extra value beyond dollars that certain investors can bring, such as the know how of building a chemical production facility, et cetera. And the other is maintaining, I don't know, clarity, composure, confidence or fighting funnel even, right. The fear of missing out when you see other either large corporates or startups with these very attractive presentations, websites or headlines and not knowing until some point in the future whether they're as far along as the polish suggests they are.
Tim Boeltken:
The good thing is you can always remind yourself that if you look how much fossil fuels are burned today and if we do nothing, then it will continue to be burned. So it's a huge challenge. There's a lot of room for collaboration and we are all fighting for the good cause and at the end it's also like a business. So we try to get like the largest share of the business. We with INERATEC we are aiming for being the largest issue producer globally. We think that our technology is top notch, we have sharp business models. We will focus now on our go to areas and with this modular approach we have the chance to deploy our units at the power to X sweet spots and have the lowest production costs and getting the largest market share.
Chris Wedding:
Yep.
Chris Wedding:
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Chris Wedding:
Just kidding.
Chris Wedding:
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Today let's switch Tim for talking about the business. Talking about Tim as we do so hey what kind of advice do you give emerging professionals or maybe if you were hypothetically speaking to the younger version of Tim on how to, you know, look, be more effective in building the kinds of world changing companies that you're building now.
Tim Boeltken:
That's a good question. So the first thing looking back, we had an amazing founder team. So were diverse and we had every one of us had his own or his or her own strengths and weaknesses and were matching and the founder team is still together. We went through thick and thin. Usually you have a lot of fights, you have a lot of discussions, but we somehow managed to just stay together. And looking back, I think that's the secret. So having a diverse team, filling all the gaps you need to have at the beginning and be sure with whom you started. And that's the first point.
And the second point is maybe now more down the road, hire good people, enable them, trust them and what will start quite soon is that you are either seeing nothing or you are seeing only the things that don't work. And you should not lose the faith that everything you do is, like, not good. Because if you have set it up, like, professionally, you will only deal with. You will deal with a lot of things that don't work, because the things that work you probably are not that much visible to you than in the first years. And this is causing a lot of friction because it might, let's say, give you a false perspective of the company. So what I usually do is I'm trying to not lose contact with the staff.
I'm trying to at least walk through the company, the entire company, at least once a week to see the progress. Also giving you some feedback on that. So we built this unit and we had a customer and he said, I want to have like a button on my desk and I want to, let's say, ramp down the plant if the sun is not shining. And I want to ramp it up if the sun is shining. Fully automated. Three years ago, I said, guy, it's a chemical plant. It's never going to work like that. So we need to find a workaround. And then like a year later, I was working through the manufacturing and we had like an automation team and they just programmed it in a way that depending on the information the plant got, it automatically ramped down and ramped up again.
Fully automated. No thing. I never thought this is possible. And I was just. They explained it to me like it's nothing. They just said, yeah, we did it. And I really had to leave because I had tears in my eyes because it was just so beautiful that these guys that just did it. And that's something you really need to stay sane, to be informed of what is going on. And I mean, that's a great fun about this entire venture. It's not only the fundraising and the business contacts, but it's really like working with dedicated people that build an amazing product, that go with you through thick and thin, that do their best to solve the problems if they arise. And so I'm quite optimistic that the venture will go on for quite a while.
Chris Wedding:
Well, I think the audience will agree with me in saying there's nothing like a German engineer crying. The wonderful thing, Tim. Wonderful thing.
Tim Boeltken:
Thank you.
Chris Wedding:
Let me go back to the first point you made around your team sticking together, the founding team sticking together. That doesn't just happen. Were there certain kind of expectations, communications, I don't know, channels, protocols, et cetera, feedback, you know, loops built in such that your founding team is still together? Like what. What allowed that to be true?
Tim Boeltken:
It allowed actually to have a very open communication. So we Germans tend to be very direct. So we directly speak the truth. We are not trying to, let's say, talk behind somebody's back. So if we see an issue, if we fight, we directly say it. We are open to that. And the other, I would say, attitude we are having is that our focus is not how we are positioned in the company, but how the company is performing. So we always have the mindset is that if somebody comes that can do the job better than me or better than us, we will move aside and we will do everything which is in the best course of the company. And this still okay. So we started as a founder team. Everyone was the managing director.
So now the first one or the first two step down from being a managing director working intensely on the product. So the one is the CEO, the other is the CCO. But at the end, it doesn't matter. So we are like one team. We are fighting for the best product. We want to make the customers happy. And that's always how we look at. So how can we bring the best value to the entire venture, to the entire company?
Chris Wedding:
Yeah, I mean, in so many words. Not me, but we perhaps is a focus for what you just walked through. Let's go to the next one, which is Tell us. Two or three habits that keep you healthy, sane, and focused on what is a pretty intense journey of building a company.
Tim Boeltken:
Habits. I mean, it's a weak point of mine. So I love habits. I love reading books about habits. And I keep my journal and then I open my journal and I have not like put any habits in there for the next three weeks. I try to go to the gym three times a week. I've been in 2024. I've been my second time, two days. My entire body is aching. So I'm still in a. In a phase of my life where my body can tolerate a lot of things. So I'm. I'm not like overweight or I'm not like eating unhealthy. I'm not smoking. Sometimes I drink too much. But I want to build up these habits. But sometimes wanting to build up these habits, they cause more stress than actually releasing it. So what I actually do is I have a small family.
I try to spend as many time as possible with the family. My son is three and a half, so usually my habit is if I want to just calm down, I just play with him and make fun with him and everything. What's on top, Having the time to read, having the time to Exercise. Having the time to even meditate is like a bonus. And I enjoy it when I have the time to do it. But it's not that I do it on a frequent basis and it's like that. So I will not change it. We are maximum dedicated to the company. Maybe in a couple of years time I have the time to do that, but for now, it's a job I have to do.
I wake up every morning with like, I want to go to work, I want to have fun at work. And that's I think the biggest asset I have in my life. That doing this is also a big part of fun.
Chris Wedding:
Well, I appreciate that you're keeping it real, as we say in the U.S. Tim. Look, we may want to have good habits, but sometimes it doesn't.
Tim Boeltken:
I'm not in the 5am Club. I'm very happy if I can stay until 7. I try to go as early to bed as possible, knowing that during the night my son will anyway wake me up. So that's the things.
Chris Wedding:
Got it. Well, I would just say between you and me and thousands of people, it is possible, I promise it is possible to implement some of these exercise or meditation habits and be a great CEO at the same time versus in sequence, in parallel. It's possible. Just the public service. Public service announcement.
Tim Boeltken:
I believe you. I believe you. I read all the books, but it's. I haven't, I haven't implemented them.
Chris Wedding:
That was. Okay, let's keep talking offline. Let's close here. Tim, what's a recommended book podcast tool quote, Something that you or your team have found inspiring and the others may also find inspiring.
Tim Boeltken:
I heard this Chris wedding has a nice podcast. I have not listened to all the audio. Well, yeah, so on a podcast I try to educate myself on the financing side, there's not one specific podcast I can recommend, but I'm the engineer. I have a PhD in engineering on catalysis technology. So finance is pretty new to me for the past like five, six years. So I'm trying to educate myself with everything I find and read and on the specific books. I mean, I know I can relax very much with reading like novels or something, but there's nothing I can recommend now. There's one thing, I don't have the English word for it. It's dengkfiller. So there are like summaries like Daniel Kahneman Thinking fast and slow and how the brain can cheat you.
And there are more and more very excellent books of educating you not in Very much detail, but showing you the full landscape of how your perception is sometimes very wrong. And I like to just read them for entertainment, not for getting better or making better decisions because I think decisions are what decisions are. They come and go. But just for educating myself, these things happen any minute of your life and how the brain is treating you. So probably my next life I will study something like neurobiology or psychology. That's really interesting, but nothing I can recommend here.
Chris Wedding:
Well, or, you know, just. Just build a great company, maybe sell it, maybe not. And just now it's more time to get your next PhD.
Tim Boeltken:
There's still this, it's still time. I still feel young.
Chris Wedding:
That's right. That's right. Well, let's wrap here and let you get back to building the world's largest E fuel provider. What's the final message? Tim, what kinds of, I don't know, businesses, future employees, et cetera, do you want to hear from?
Tim Boeltken:
Yeah, for us it's important to communicate these E fuels will be needed. We have a lot of discussions also with policymakers, with the government about either electromobility or E fuels. My statement is always, we need to do everything to defossilize all these industry sectors. So it's a direct electrification via electromobility and E fuels. So it's matching. And we are a growing company. So to all the listeners out there, if you are an engineer, if you are a financial analyst, if you are working on communication, reach out to us. So we are growing. We need dedicated people, we need young professionals, we need experts, efforts to really achieve the goals we have set.
Chris Wedding:
But basically anybody that wants to work in E fuel, your door is open. Your door is open. Hey Tim, we're rooting for your old success and talk to him.
Tim Boeltken:
Thanks so much. Talk to you soon. Bye bye.
Chris Wedding:
Thanks for listening. And if you want more intel on climatech, better habits and deep work, then join the thousands of others who subscribe to our substack newsletter at entrepreneursforimpact.com or drop me a note on LinkedIn. All right, that's all y' all.
Take care.