Highlights

My Lords, I extend my gratitude to the noble Baroness, Lady Brown, for initiating this crucial debate. I too am very much looking forward to the maiden speech by the Minister, the noble Baroness, Lady Gustafsson, and welcome her to the House. I declare my interest as an advisor to Future Planet Capital, a venture capital firm that invests in impactful technologies pertinent to this discussion, and my personal commitment to the energy transition. It has been an honour to serve on this committee and to work with its very able team, whom I also thank. I welcome the report’s focus on the urgent need to scale up long-duration energy storage to meet the twin challenges of achieving a sustainable future and securing our energy supply in the face of renewable intermittency and increasing geopolitical black swans. However, I will focus on the role that innovation can play if sufficiently supported to scale up solutions by cultivating genuine market demand, at the right low prices ...