Something counter-intuitive has happened in the clean energy media world. One of its most prominent news outlets Greentech Media was closed down last week, by a decision of its parent company Wood Mackenzie, after it had acquired Greentech Media for $40 million in 2016. Wood Mackenzie is an oil, gas and renewables research firm, producing energy data and reports.
[Greentech Media] was founded in February 2007 by Scott Clavenna and Rick Thompson, and announced that it had raised $1 million in Series-A venture capital funding the following May. It announced another $2.75 million Series-B round in May 2008. The company currently has four offices, in Boston, New York, San Francisco and Munich. In February 2021, Wood Mackenzie announced the closure of the Greentech Media website by March 2021, while podcasts would continue.
This is very strange, happening at a moment when a new administration is taking over, that is sympathetic to addressing climate concerns. 84% of new US power output in 2021 will be from carbon-free sources. One can only guess at the true motives of Wood Mackenzie… buy and liquidate on behalf of the oil and gas industry? Not profitable enough?
A Wood Mackenzie spokesperson commented:
“As part of the final integration of GTM within Wood Mackenzie, we have taken the decision to retire the GTM and GTM2 news sites. We will cease publishing new editorial and news content on the sites from March and all impacted subscribers will be contacted. We know this will be disappointing news for many loyal GTM subscribers and we thank them for their readership over the last decade,” adding, “We will continue to expand and grow the popular Energy Gang and GTM podcasts and Greentech events, as part of Wood Mackenzie.”
Empty talk, no serious reason given. More signs that the US will not be at the forefront of the global renewable energy transition. Unfortunately, the US public support for renewables is rather thin and many believe that it is not possible to run an advanced society on 100% renewables. The US are stuck in their oil & gas successes of the past. Comparisons to Brexit-Britain come to mind, yet another example of being stuck in past imperial glory. Anglosphere has become regressive.
[cleantechnica.com] – A Top CleanTechnica Competitor To Close Down … Why?
[pvbuzz.com] – Research and consultancy group, Wood Mackenzie plans to shut down Greentech Media
[wikipedia.org] – Greentech Media
[energytransitionnow.com] – Greentech Media news group to be closed by oil, gas, energy research firm Wood Mackenzie
[greentechmedia.com] – Greentech Media Bids Farewell