A pitch deck that leads with "200 granted patents" is telling you almost nothing about whether that IP will defend a margin, survive a challenge, or be worth anything in a downside. Three numbers from the last 18 months explain why, and they should change how you diligence climate-tech IP. The Vanity-Count Trap, Now Quantified The instinct to count patents is understandable and almost always wrong. The hard data: when a US patent is actually challenged at the Patent Trial and

The standard framing sets two markets side by side: compliance, where regulation forces companies to surrender allowances, and voluntary, where they buy credits by choice. It is a tidy split, and it is the wrong one. The voluntary market has fractured into two tiers that have less in common with each other than either has with compliance, and the whole system is converging on a single axis: integrity. Read carbon as one market sorted by trust, not two markets sorted by obliga

Sustainable aviation fuel has no shortage of demand and no shortage of technology. It has a shortage of bankable projects. Mandates are tightening, airlines are signing agreements, and capital is queued, yet most SAF proposals still fail to clear an investment committee, because the proforma oversells the upside and hides the three risks that actually decide whether a deal funds. None of them is the IRR on the cover slide. De-risking SAF means running a financial lens and a t