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Emerald AI’s Arushi Sharma Frank wants to apply “connect and manage” to AI development.

Everyone knows now how great Texas is for renewables. Its particular combination of sun, wind, and permissive market structure has led the state to overtake even California in clean energy generation. At the same time, however, the state is nervous about data centers and their effects on the grid, even passing a law this past legislative session to more closely examine the data center industry and to establish protocols for curtailing data center operations when electricity is tight.
But what if you could do for data centers what Texas has done for renewables? That’s roughly the idea Arushi Sharma Frank, who helped bring Tesla’s energy business to Texas and is now an advisor to Nvidia-backed Emerald AI, has come up with.
On Friday, Frank filed a proposal with ERCOT, the electricity market that sits outside federal regulation and covers about 90% of the state, that would reform its rules to allow data centers to connect to the grid much faster. The rough idea is that by applying ERCOT’s existing “connect and manage” system for getting new electricity generators on the grid to new large demand sources like data centers, the data centers can get power more quickly — if they can handle not getting access to the grid sometimes.
The proposal “creates the basis of connect-and-manage of load using the existence system that ERCOT already has for generators and batteries,” Frank told me
Her proposal would reward data centers for being able to modulate how much electricity they need in the interconnection process. This could mean that data centers get credit for curtailment and for having their own generation on site. And crucially, unlike a widely-panned proposal by PJM Interconnection to essentially mandate that some customers be forced to curtail their energy use, the ability to curtail or self-power a data center would result in faster interconnection, not simply the cost of doing business.
Frank pointed to chip designer Nvidia’s recent announcement that it would back a Virginia data center using Emerald AI software to smooth out power usage, saying she wants to be “able to actually do that at scale” for “any developer in Texas.”
Getting power for data centers is one of the biggest barriers to getting them built, and so anything that can deliver faster interconnection without foisting enormous new costs on the system as a whole counts as a win-win. With this system in place, Frank told me, data centers and other large loads could “invest in firming their own power needs before major transmission upgrades get built, enabling them to voluntarily choose to be flexible participants on the grid in exchange for earlier interconnection.”
Texas has been able to deploy wind, solar, and batteries so quickly, many energy policy experts and developers say, precisely because of connect and manage, whereby new generators can get on the grid after just a local grid study, without having to examine their effect on the whole system, which most of the country’s grids require. After these system-wide studies often come expensive transmission upgrades, the costs of which are passed on to all electricity customers in the form of higher bills. This process, Duke University’s Tyler Norris has written, “can often make generators financially unviable, introduce uncertainty for project economics, and delay interconnection by years.”
That level of extensive review is partially responsible for the interconnection delays seen in the rest of the country, which can stretch to as long as several years. Projects in Texas take on average two years to complete the interconnection process, according to the trade group Advanced Energy United.
The trade-off for allowing new resources onto the grid without those upgrades means that they’re more likely to be curtailed if the amount of electricity they generate overwhelms the grid — the “manage” part of “connect and manage.” Frank made an analogy to me between a data center and an 18-wheeler, which might be allowed to start its journey sooner if it agreed in advance to get off the road in the case of heavy traffic.
Frank delivered her proposal along with support from a group of big-name and deep-pocketed stakeholders, including former Loans Program Office chief Jigar Shah, renewables developers like Cypress Creek Renewables, and a number of datacenter developers and technology providers.
In comments on the proposal, Agentic Infrastructure, which works on powering data centers, said that Frank’s plan will allow for “private capital investment to energize with dispatchable service ahead of the timeline required for expansion of firm network service,” which would ensure that “the risks of serving rapid load growth are managed privately while the economics benefits of load growth are socialized to the public rate base.”
In other words, more users of electricity would come online faster, allowing them to make payments to utilities and split up fixed costs among all customers, while the developers would take on the risk of not always being able to power their data centers.
In a best-case scenario, the proposal could be approved at an ERCOT board meeting early next year, Frank said.
Allowing flexible large loads to connect faster is “the most viable way for loads to actually invest with their complex webs of financing and technology partners in creating dispatchability,” she added.
“Everyone is talking about” how important dispatchability is, Frank told me, but “no one is doing anything about it, except for the proposal at PJM and random one-off deals that folks like Google are doing.”
“What makes ERCOT different,” Frank said, “is that it is a place that gets national attention, and it can get national attention because things generally just happen faster there.”
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Current conditions: With colder air spilling southward from Canada, snow is expected in New England and Upstate New York • Winds of up to 50 miles per hour are blasting the West Coast • Temperatures of nearly 108 degrees Fahrenheit are roasting Senegal.

It’s Election Day. Not every race has significant implications for climate change, but at least a few do. As Heatmap’s Emily Pontecorvo wrote, those races include:
One other race I’ll add, since it’s one of the most closely-watched elections in the nation, is the one for New York City mayor. While frontrunner Zohran Mamdani has so far said little about energy besides opposing a controversial gas pipeline into the five boroughs, the left-wing Democratic nominee said he would support construction of new nuclear power plants upstate at the last debate. City Hall has limited say over state energy policy, but the mayor does control the contracts the city government writes with the state-owned utility, the New York Power Authority, which is currently working on building a new nuclear plant. If his remarks at the final debate are any indication, Mamdani may endorse contracts to buy power from nuclear power plants as well as the wind and solar he vocally supported as a state lawmaker. “If he can buck the trend of the environmental left’s hostility to nuclear, he could demonstrate to New York City — and to democratic socialist supporters nationwide, who already view him as a likely successor to (notoriously antinuclear) Vermont Senator Bernie Sanders — that the left can think rationally about the energy system, its affordability, and the wide scope of the climate problem,” the writer Fred Stafford wrote in an op-ed for Heatmap this morning. “That would truly be charting a new path.”
On stage at the Abu Dhabi International Petroleum Exhibition and Conference yesterday, Secretary of the Interior Doug Burgum announced the United States’ support for a critical minerals “club” of countries that will trade the metals needed for energy and weapons without relying on China. “In the last few weeks, the United States has announced a framework for creating a club of nations to be able to trade … [and for] refining and processing critical minerals,” Burgum said at the Adipec conference, according to E&E News.
As Heatmap’s Katie Brigham put it recently, “everybody wants to invest in critical minerals startups,” including the Trump administration. The U.S. military’s Office of Strategic Capital put up a $620 million loan for Vulcan Elements’ efforts to build a factory to produce 10,000 metric tons of rare earth magnets, according to The Wall Street Journal. The Department of Commerce is chipping in another $50 million, while private investors contribute $550 million to a deal that involves ReElement Technologies, a startup that purifies and recycles rare earth metals. Meanwhile, the Export-Import Bank of the U.S. signed onto a letter of interest promising to provide as much as $191 million in financing to Locksley Resources’ rare earths project in California’s Mojave desert.
Bloomberg Businessweek has a sweeping new dispatch from the rainforests of Guinea, where China recently completed a railroad that allows mining companies mostly controlled by Beijing to tap one of the world’s largest and richest iron ore deposits. At $23 billion, the project is Africa’s biggest ever mining project and could make the tiny West African nation the continent’s No. 2 mineral exporter. “Never before has China held this level of pricing power over the seaborne iron ore trade,” Tom Price, head of commodities strategy at Panmure Liberum, told the magazine. “Expect it to start calling the shots here.”
The U.S. has largely struggled to get a leg up on China in critical minerals. As I wrote here last month, the world’s leading commodities traders have urged Western governments to focus on refining metals, not just mining them. In September, I broke news in Heatmap about an Ohio startup called Xerion extending its novel approach to processing mineral ore from cobalt to gallium.
Utility giant Southern Company has signed deals for at least 7 gigawatts of data centers and other large power users, but has a pipeline of more than 50 gigawatts in the works, the company said in its third-quarter earnings last week. The company, which controls some of the largest utilities in the Southeast, is requiring “strong customer protections and credit provisions” to protect against rate increases to serve the new loads, Chief Financial Officer David Poroch said on the call, according to Utility Dive. “Our pipeline of large load data centers and manufacturers continues to be robust across our electric subsidiaries. The total pipeline remains more than 50 gigawatts of potential incremental load by mid 2030s.”
Poroch’s price caveats track with a trend Matthew Zeitlin wrote about recently, of utilities bending over backward to convince even their investors that ratepayers won’t be on the hook for the cost of serving the artificial intelligence buildout. With opposition to data centers high and rising, they’re trying to avoid a popular backlash.
Nineteen Democrats in the New York State Assembly want Governor Kathy Hochul to reject a mandate for electrifying new buildings. The signatories to a letter calling on the governor to halt plans to ban gas hookups in new construction include lawmakers from New York City, Long Island, and upstate, along with Assembly Majority Leader Crystal Peoples-Stokes. The letter was sent to the governor Monday, but Hochul already said she’d consider the request, Politico reported.
Another key test Mamdani's likely election will set up is how highly he prioritizes opposition to the Northeast Supply Enhancement pipeline designed to carry gas from Pennsylvania's fracking fields to stoves and furnaces in the outer boroughs. Hochul supports the project, which backers say will bring down the cost of a fuel that -- even in the most ambitious decarbonization scenarios -- New York will continue to need for many years. After running a campaign laser-focused on affordability, his approach to the project may reveal how important opposing fossil fuel infrastructure remains for the left wing of the Democratic Party.
It’s not your typical kind of media deal. The Cool Down, a climate and sustainability website known for its explainers about sustainable lifestyles and how-to guides, sold itself to the clean-energy company Palmetto. The North Carolina-based company, which leases solar panels, batteries, heat pumps, and other electrified technologies to consumers, has been expanding in recent months, as Heatmap’s Robinson Meyer wrote in a scoop on the acquisition yesterday. “By bringing our companies together, we’re pairing trusted consumer education with real, accessible energy solutions. Together we intend to empower households to take control of their energy future and benefit from the transition that’s already underway,” Chris Kemper, the founder and CEO of Palmetto, said in a statement.
The New York mayoral frontrunner has an opportunity to shift the left’s increasingly nonsensical position on a critical carbon-free energy source.
Tuesday, November 4, New Yorkers go to the polls to elect their new mayor. They face a three-way choice — Democratic candidate, state assemblyman, and suddenly prominent democratic socialist Zohran Mamdani; Republican candidate and battery foe Curtis Sliwa; and independent candidate and former governor Andrew Cuomo.
While Mamdani’s surprise win in June’s Democratic primary electrified New Yorkers of all political persuasions, this cycle has been a relatively sleepy one for climate issues. Neither of the two frontrunners, Mamdani and Cuomo, has been keen to draw much attention to himself on clean energy.
At a televised debate two weeks ago, however, things got interesting.
“New nuclear power plants can help bring down the rising cost of utilities in New York State, yes or no?” asked moderator Brian Lehrer. “Upstate? They’re already starting, yes,” answered Sliwa, referring to Governor Kathy Hochul’s landmark announcement in June that she was ordering the New York Power Authority, the state’s public power utility, to develop a gigawatt of new nuclear energy-generating capacity upstate. Couched in atomic-powered abundance, the plan distinguishes her from Democrats nationwide primarily because she has the largest state-owned utility at her disposal, whereas other governors, from both parties, merely intimate that private developers should really get started.
To the untrained ear, Mamdani’s answer at the debate was anodyne: “I think it’s something worth exploring.” Prompted by Cuomo about whether that constituted “a yes,” Mamdani confirmed, “yeah,” to which Cuomo evinced surprise and then a “yes” of his own. On the surface, all three candidates agreed.
But in affirming the role of new nuclear plant construction to meet the state’s energy needs, Mamdani put himself at odds with a number of environmental justice nonprofits that have become fixtures of the city’s progressive left — that is, his own political home base.
“We unequivocally oppose any new nuclear facilities in New York State.” So begins a letter signed by 153 environmental justice groups, issued following Hochul’s “Future Energy Economy Summit” last fall, where she first raised the prospect. The signatories include chapters of prominent activist Bill McKibben’s advocacy groups Third Act and 350.org, Bezos Earth Fund awardee WE ACT for Environmental Justice, Food and Water Watch, chapters of the Sierra Club, and solar industry boosters Vote Solar, among many others.
When the governor advanced her nuclear plan this year, environmental organizations responded with anger. NY Renews — a coalition of groups that successfully lobbied for the state’s landmark climate law, the Climate Leadership and Community Protection Act of 2019, which was signed by Governor Cuomo — issued a statement opposing “the expansion or further investment in nuclear energy production.” An op-ed from the New York City Environmental Justice Alliance and New York Lawyers for the Public Interest called Hochul’s proposal a “dangerous distraction” from building renewables. In a separate comment issued alongside these same groups, decades-old Brooklyn Latino community organization UPROSE urged the state to avoid the “expensive and unrealistic” path of nuclear development.
The political appeal of nuclear today is undeniable. Six in ten Americans want more nuclear energy, according to a recent Pew poll. Not only is it the energy source with the smallest divide in enthusiasm between the parties, including both clean and fossil-fueled sources, the most common reason respondents gave Pew for supporting nuclear was its decarbonization potential.
New York’s nuclear energy “provide[s] reliable, continuous, predictable, emissions-free supply and must remain online to maintain electric system reliability,” according to a recent filing from the New York Independent System Operator, which manages the state’s grid. Since it takes up less land and requires fewer transmission lines than purely renewable alternatives, it could mitigate a fiery political tension in New York and elsewhere. And it’s almost universally held up as essential by industrial labor unions, for the clean, firm power it produces, and for the high-paying careers it supports. “Nuclear energy, being the cleanest, zero-emission, and most efficient way to produce energy, should be a no-brainer,” Frank Morales, the president of New York’s Utility Workers Union of America Local 1-2, which represents thousands of ConEd utility workers in the city, told me by email.
And yet despite his statement during the debate, nuclear’s decarbonization bona fides, its strong bipartisan appeal, and its acclaim from labor unions, Mamdani — a democratic socialist champion of public power and the clean energy transition — still hasn’t endorsed the governor’s plan for public nuclear power development.
This tracks an ideological inconsistency within the environmental left that has become less tenable as the need for clean power has grown more urgent. “It’s a belief system that these nonprofit groups have wrapped themselves in, and one that they have not yet been motivated to seriously reexamine,” Charles Komanoff told me. He’s the director of the Carbon Tax Center and a decades-long stalwart of New York City progressive activist groups, spanning environmental and transportation causes, among others.
Komanoff has had to reexamine his own beliefs on nuclear. During the 1970s and ’80s he opposed nuclear power, primarily for its past operational inefficiencies. He spoke before a crowd of thousands at an antinuclear protest in Washington in 1979, after the Three Mile Island incident. The premature closure of New York’s Indian Point nuclear power plant in 2021, however, finally tipped him into public nuclear advocacy. The “true Indian Point disaster,” he wrote in an analysis earlier this year, is that “emissions are mounting, and in New York City and other downstate areas formerly supplied by Indian Point, electricity is getting costlier and less dependable.”
Ben Furnas, the former director of the Mayor’s Office of Climate and Sustainability under Bill de Blasio — himself an iconic New York City progressive — has experienced this inconsistency firsthand. (De Blasio also cut his teeth in the antinuclear movement, telling The New York Times in 2019 that he’d marched against Three Mile Island in his youth.) “A lot of the old guard antinuclear activism sits uncomfortably in a broader, clear-eyed climate coalition,” Furnas told me. Mamdani, however, appears to take a “more expansive view of what a decarbonizing energy system looks like,” he said.
As a member of New York’s State Assembly, Mamdani backed a campaign to cancel the repowering of an ancient, highly-polluting gas peaker plant in Astoria, Queens, squarely in his district, that was slated to retire. He also aligned himself with the effort by Public Power NY, a coalition between the Democratic Socialists of America and environmental groups, to “build public renewables.” Both maneuvers eventually paid off — in 2021 the state denied the repowering project’s permit, and the old power plant later closed down for good; and in 2023 Hochul signed into law a (heavily rewritten) version of the Build Public Renewables Act, turning activist goals into implementable policy for NYPA.
Two years later, NYPA has made remarkable progress building state capacity in renewables. Its development pipeline of wind, solar, and battery projects now amounts to about 7 gigawatts, though most of that is still in very early stages. But Public Power NY has spent that time dismissing the progress from the sidelines, charging Hochul with “refusing to lead on climate.” While it’s true that Hochul is far overdue on implementing parts of the 2019 climate law, a huge political challenge as energy affordability becomes a top concern, Public Power NY has responded by demanding that the governor ramp up NYPA’s renewables development to a staggering 15 gigawatts deployed by 2030. Mamdani spoke at a rally for that demand just a month into his mayoral campaign last November.
Neither energy nor public power, however, has been at the forefront of his campaign, especially in these closing months. Instead, Mamdani’s laudable message discipline has been trained on affordability in New York City: free childcare, free buses, city-owned grocery stores, and temporarily freezing the rents of the city’s nearly 1 million rent-stabilized apartments. He’s even taken a decidedly pro-abundance position on housing in interviews with the Abundance co-author Derek Thompson and on the Odd Lots podcast.
It would be reasonable to ask, Even if Mamdani had aggressively talked up nuclear, what would he be able to do about it as mayor? As it turns out, there are a few routes that a Mayor Mamdani could take to influence nuclear development.
First and foremost, for half a century, the “governmental customers” of New York City have been critical sources of revenue for NYPA. The city government, the Metropolitan Transit Authority, and the New York City Housing Authority, for example, remain NYPA’s largest customers, dating back to when the state acquired Indian Point Unit 3 from ConEd during the 1974 financial crisis. While the MTA is infamously not under the mayor’s purview, at least two of those major customers are — and their power contracts are set to expire at the end of 2027, during the next mayor’s term. That’s both a bargaining chip for the next mayor and a potential avenue for the city government to subsidize, at least in part, the cost of a new, NYPA-developed nuclear plant.
Second, de Blasio already set a precedent for applying the city’s progressive tax base to help shoulder the cost of statewide clean power initiatives. To help solve an imbalance in renewable energy deployment upstate and downstate, the state created the “Tier 4 Renewable” program in 2020, at the urging of the de Blasio administration, to subsidize transmission projects that would deliver renewable energy into New York City. The enormous cost of the program, however, fell on the backs of ratepayers statewide, in proportion to their electricity consumption.
Seeing the unevenness in a program that largely helps the city, the de Blasio administration struck a deal in 2021 with the state’s clean energy procurement agency, the New York State Energy Research and Development Authority, to purchase far more Tier 4 renewable energy certificates than would have otherwise been allocated to the city based on its electricity demands via its utility, NYPA. As a result, the rest of the state’s ratepayers would save, in the city’s calculation, a few billion dollars. It’s not hard to imagine a similar possibility for the next mayor to advance the state’s nuclear policy, especially when it’s being led by NYPA.
Finally, the city’s Local Law 97 — a comprehensive law passed in 2019 requiring large buildings to meet escalating greenhouse gas emission limits or else face fines — presents another opportunity. Mamdani has spoken during the campaign about the need for the city to procure heat pumps for landlords to install in compliance with the law. But landlords also have to decarbonize their utility electricity supply, which they can do by purchasing RECs. With the recent cancellation of one of two projects that would have supplied said RECs, the real estate industry will soon be hungry for more supply.
That’s where nuclear could come into city policy. The city council could amend Local Law 97 so that nuclear energy likewise delivered into the city — from either existing or solely new sources — could be used to comply, as well. That would put landlords in a position of subsidizing a new state nuclear project, just like the Tier 4 program put them in a position to subsidize new state transmission projects. That could be a way for a Mayor Mamdani to throw them a bone amid his attacks on unaffordable housing prices.
The mild nuclear support at the debate was encouraging, Komanoff, the longtime progressive activist, told me. But “it would’ve been huge-er if Mamdani had said something specific and favorable about Governor Hochul’s gigawatt announcement over the summer.” The governor, who in September endorsed Mamdani in the race, is presumably thinking the same thing, having made NYPA — the same public power authority behind the Build Public Renewables campaign that Mamdani championed — the centerpiece of her nuclear plan.
NYPA’s vice president of corporate communication, Lindsay Kryzak, told me by email that the authority has “seen widespread support for this critical technology,” and that it’s looking forward to “ensuring the benefits of advanced nuclear energy reach our customers in all five boroughs.”
Mamdani has been a staunch proponent of public clean energy in the legislature, and he’s apparently open to new nuclear for decarbonizing the state. That he hasn’t yet embraced this public power nuclear plan illustrates the strong gravitational pull of the environmental left coalition that surrounds him, one rooted in antinuclear politics.
Across progressive and democratic socialist media, multiple activists who’ve worked on the public power campaign have revealed their personal and professional ties to nonprofits like the Alliance for a Green Economy, New York Energy Democracy Alliance, and the Sane Energy Project, all of which have firmly rejected Hochul’s nuclear plans.
As for the Public Power NY coalition itself, it wants the state to build public renewables, not public nuclear. In a statement following the governor’s nuclear announcement, it argued that the plan “shows just how unserious she is about New Yorkers’ energy bills and climate future.” According to the organization’s website, 12 of the coalition’s 16 partner organizations, excluding DSA chapters, have publicly opposed new nuclear power since the governor kicked off discussions last year. Public Power NY did not respond to requests to comment on this story.
When the New York Independent System Operator, which manages the state’s grid, warns of the dire reliability-related need for “dispatchable emissions-free resources,” a technical term whose only existing commercial realization is nuclear, one would think building more nuclear power is actually the serious thing to do. That conviction isn’t just coming from the governor’s office; it’s shared by major industrial unions like the International Brotherhood of Electrical Workers, the UWUA, the Laborers’ International Union of North America, the state Building Trades Council, and the state AFL-CIO, as I reported this summer for Jacobin.
What does labor think of Mamdani’s recently expressed openness to nuclear? Vinny Albanese, executive director of the New York State Laborers’ Political Action Fund, says over email that his union, LIUNA, is “encouraged to see Assemblymember Zohran Mamdani express openness to nuclear energy, which currently provides half of New York’s carbon-free electricity.”
“With potential energy shortfalls projected to affect New York City as early as next year,” he wrote, “we must act decisively to bring more reliable, clean generation online.” The Laborers, like many unions, endorsed Cuomo in the primary, but haven’t endorsed anyone in the general election.
Morales, the UWUA Local 1-2 president, told me over email that Mamdani’s remark in favor of nuclear energy is “definitely a step in the right direction.” And yet Local 1-2 nonetheless endorsed Cuomo. That’s despite the fact that as governor, Cuomo was directly responsible for shutting down Indian Point, destroying hundreds of Local 1-2 members’ jobs.
Without the antinuclear baggage of his coalition, Mamdani could have pounced on Cuomo for having closed the plant — as Sliwa did at the debate and throughout his own campaign — in order to show solidarity with the union workers and to demonstrate a more responsible energy policy for New York City. In doing so he could have pinned the blame on his opponent for rising power prices and worsening air quality in his own district.
A 2023 public letter on South Bronx air pollution from various city environmental groups admits only obliquely, in the title of one of its charts, that Indian Point’s shutdown “expos[es] area residents to even more pollution.” Assemblyman Mamdani, like several other local elected officials, signed the letter, seemingly his only public engagement with Indian Point’s closure. But some of the nonprofit signatories actually championed the end of the plant, a situation that rules out a more explicitly recognized tradeoff between nuclear energy and air pollution.
If Mamdani wins the mayoral election, as polls indicate he is likely to do, he will take on the tremendous responsibility of governing a major world city. That city is one whose power grid is facing reliability concerns alongside costly maintenance and infrastructure needs, all on top of a popular push to electrify buildings and reduce air pollution. As mayor, he’d have limited levers to address these problems. But with the backing of the governor and the public power authority, he stands a chance. He should embrace Hochul’s public nuclear power plan, and with it nuclear’s potential to help advance New York City’s climate goals.
If he can buck the trend of the environmental left’s hostility to nuclear, he could demonstrate to New York City — and to democratic socialist supporters nationwide, who already view him as a likely successor to (notoriously antinuclear) Vermont Senator Bernie Sanders — that the left can think rationally about the energy system, its affordability, and the wide scope of the climate problem. That would truly be charting a new path.
Editor’s note: This author’s bio has been updated to clarify that he writes under a pen name.
The North Carolina-based clean energy company has been on an expansion tear, even as the Trump administration has axed support for renewables.
The clean energy company Palmetto is buying The Cool Down, a climate and sustainability news site known for its lifestyle focus and how-to guides.
The North Carolina-based Palmetto, which leases solar panels, batteries, heat pumps, and other electrified technology to consumers, has been expanding fast in recent months. The acquisition marks the company’s first foray into the media business.
“By bringing our companies together, we’re pairing trusted consumer education with real, accessible energy solutions. Together we intend to empower households to take control of their energy future and benefit from the transition that’s already underway,” Chris Kemper, the founder and CEO of Palmetto, said in a statement.
Neither side disclosed a purchase price. But Dave Finocchio, the company’s cofounder and CEO, told me that he considered the deal “a successful outcome for us.” Finocchio was a cofounder and CEO of Bleacher Report, the popular sports news site now owned by Warner Bros. Discovery.
The Cool Down launched in 2021 and raised a $5.7 million seed round the following summer led by Upfront Ventures. Bill Simmons, the prominent podcaster and founder of the sports and culture website The Ringer, was an angel investor.
Although many news sites cover sustainability issues (including, full disclosure, this one), The Cool Down aimed to set itself apart by bringing in a larger and more mainstream audience and building an online marketplace with product recommendations where consumers could buy heat pumps, induction stoves, and smaller eco-friendly products like deodorant.
The site has averaged 35 million to 40 million users a month in recent months, Finocchio told me. Over time, the site has found that consumers are particularly interested in “saving money long-term by doing upgrades,” such as by buying rooftop solar panels or a new heating and cooling system, Finocchio said.
Those big appliances drive an outsize share of a household’s energy use — and its carbon footprint, he said. But they can’t be shopped for like a normal consumer product, and they can’t easily be sold through the kind of marketplace that The Cool Down once envisioned.
“It’s great if someone wants to switch from paper towels to Swedish dish cloths — I don’t want to put down anyone’s positive steps,” Finocchio said. But “there are more steps to installing an HVAC or putting a heat pump in your home … than simply buying a product over Amazon that just arrives at your house,” he said.
As a part of Palmetto, The Cool Down hopes to be able to provide consumers with more support to make that kind of switch, Finocchio said. The news site already refers readers to Palmetto’s solar leasing program, describing it as a way consumers can “get solar panels without buying them.”
“We’ve had a partnership in place for over a year, and Chris’s vision for essentially disrupting how homeowners think about energy and residential — and making it more accessible for the average person who is able to make a financial commitment to lease solar or lease HVAC — lined up really well with our mission to help make these bigger clean lifestyle decisions,” Finocchio said.
The Cool Down will maintain its editorial independence after the sale, he added, although Palmetto will have access to its data on sustainability trends.
The Cool Down’s cofounders included Finocchio; Ryan Alberti, a Bleacher Report alum and U.S. Army veteran; and Anna Robertson, a former executive at ABC and Yahoo News.
The acquisition adds to a team that has expanded aggressively despite a chilling policy environment created by the Trump administration. Social Capital — a venture capital firm led by Chamath Palihapitiya, the host of the All In podcast and a major Trump fundraiser — made its single largest investment ever in Palmetto, and Palihapitiya sits on its board of directors. (He has endorsed the company to his roughly 1.9 million X followers, casting it as a way consumers can avoid the AI boom’s higher power prices.)
Palmetto also recently hired Neil Chatterjee, who led the Federal Energy Regulatory Commission during Trump’s first term, as its head of government affairs.
The company raised $1.2 billion last year. Will it use that cash to build up its journalistic presence? Jessica Appelgren, the company’s vice president of communications, told me that the company had no interest in entering the media business.
Editor’s note: This story has been updated to include co-founder Ryan Alberti.