Ep 33: Jim McDermott, Managing Partner at Rusheen Capital Management, LLC

My Climate Journey

Today’s guest is Jim McDermott, Managing Director of Rusheen Capital Management, LLC.

Rusheen Capital Management is a Santa Monica, CA-based private equity firm that invests in growth-stage companies in the carbon capture and utilization, low-carbon energy and water sustainability sectors. Prior to co-founding RCM, Jim has started, invested in and run numerous companies. These include: US Renewables Group (Founder & Managing Partner), Stamps.com, Inc. (NASDAQ:STMP – Founder), Spoke Software, Inc. (Founder & CEO), Archive, Inc. (Founder & CEO – sold to Cyclone Commerce), NanoH2O, Inc. (Founder & Board Member – sold to LG Chemical), SolarReserve (Founder & Board Member), Fulcrum Bioenergy, Inc. (Founder & Board Member), Common Assets (Founder & Board Member – sold to NASDAQ:SCTY), SET Technology (Board Member) and OH Energy, Inc. (Founder & Board Member). Jim holds a BA in Philosophy from Colorado College and an MBA from the Anderson School at UCLA.

In this episode we discuss:

• Jim’s transition from dot com entrepreneur (back) to energy/climate
• Formation and operation of US renewables group
• Some examples of companies Jim has backed
• His views on impact capital and how it returns relative to a more mercenary approach
• Importance and necessity of carbon removal
• Role of the big hydrocarbon companies looking backward and forward
• Importance of policies like the 45Q tax credit
• The emergence of the carbon-to-value economy
• Some of the most exciting innovations to keep an eye on
• What Jim would do with $100B if he could put it to work to maximize impact in the climate fight
• Jim’s advice to people trying to find a way to help

Links to topics discussed in this episode:

• Jim McDermott Linkedin: https://www.linkedin.com/in/jamesacmcdermott/
• US Renewables Group: https://usregroup.com/
• Fulcrum BioEnergy: http://fulcrum-bioenergy.com/
• Bret Kugelmass: https://www.myclimatejourney.co/episodes/bret-kugelmass
• 45Q tax credit: https://www.catf.us/wp-content/uploads/2017/12/CATF_FactSheet_45QCarbonCaptureIncentives.pdf
• Carbon Engineering: https://carbonengineering.com/
• Renewable portfolio standard: https://en.wikipedia.org/wiki/Renewable_portfolio_standard
• Oil depletion allowance: https://en.wikipedia.org/wiki/Oil_depletion_allowance
• Low carbon fuel standard: https://en.wikipedia.org/wiki/Low-carbon_fuel_standard
• Electrolysis: https://www.energy.gov/eere/fuelcells/hydrogen-production-electrolysis
• Photocatalyst and hydrogen production: https://phys.org/news/2017-05-photocatalyst-hydrogen-production-efficient.html

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