Opportunities at the intersection of software and hardware in national development projects with Prescott Watson

Village Global's Venture Stories

Prescott Watson (@prescottwatson) joins Olga Serhiyevich (@olgaserhi), head of investor relations at Village Global, on this episode. Prescott is co-founder of Port Power, a software platform that aims to de-risk commercial fleets’ adoption of electric vehicles by ensuring their charging infrastructure functions flexibly and reliably. Takeaways:
- With gas or diesel-powered vehicles, drivers take the car to the energy source (the gas station). With electric vehicles, that paradigm doesn’t work for fleets of commercial vehicles that need to be charged up overnight. This means that a fleet operator needs to build charging infrastructure to charge 30, 50, perhaps 100 vehicles simultaneously.
- Building the charging infrastructure requires huge efforts by multiple players and right now the grid can only support a small fraction of the power that is required. Full support all of the charging that needs to happen is many years away.
- Prescott says there are real “sticks” coming for fleet operators. As early as 2026, there will be restrictions on the ability of fleet operators to buy diesel vehicles.
- Moving to electric vehicles requires a huge effort on the part of the government as well as private operators who build and co-fund the infrastructure required. Prescott says that there has been a significant brain drain from government. It needs to attract many more talented people in order to solve these challenges.
- Access to electricity will play a key role in commercial development and real estate in the future. This provides a significant opportunity for capital allocators.
Links mentioned in this episode:
Abundance Agenda: https://www.theatlantic.com/ideas/archive/2022/01/scarcity-crisis-college-housing-health-care/621221/
Green Police Ad: https://www.youtube.com/watch?v=Ml54UuAoLSo
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