Word: castens
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...mention the relative successes of Shai Agassi, of A Better Place, and Tom Casten, of Recycled Energy Development. What's been holding back other people with big ideas about energy efficiency? Breaking through in a big way with an idea revolving around alternative energy or efficiency is hard because, in most cases, these projects don't assume to be profitable for years. Agassi has found success because he was already a giant in the world of software. Coming up with $100 million for an electric car project would be a nearly impossible task for anybody without the clout of Agassi...
Thomas R. Casten, chairman of RED, said he blames the lack of enthusiasm in his company’s technology on the structure of the energy market...
...There are rules that were set up 100 years ago when the goal was to rapidly electrify the country,” Casten said. “We gave the utility companies a monopoly in perpetuity, and they recover the costs they spend to keep up the monopoly in rate increases...
...Casten said the technology is proven, and that 69 percent of greenhouse gases currently emitted are from the generation of heat and power...
...Casten, 26, Columbia, is entering the corporate world because he argues that "business is the only institution that has maintained its credibility in the ghetto. The blacks have been badly deprived of management experience, and if we can help them over that, we can go a long way toward solving our social problems." Casten spent four years in the Marines, made money as a part-time computer consultant while in graduate school and was co-founder of a Columbia business students' counseling service for Harlem entrepreneurs. He will continue that kind of work by directing venture-capital investments, including...
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