Michelle Ma

My story on one of the most closely-watched startups in clean energy and the challenges it faces as it scales up its ambitions (free gift link): bloomberg.com/news/features/…

“We’ve been incredibly lucky,” CEO @TimMLatimer told me when I visited Fervo's Cape Station project in Utah. “It’s one thing to get lucky on timing, but it’s another to make sure you don’t ruin the opportunity.”

Fervo Energy might be the one clean tech startup having a good time in Trump's America. The company's commercial geothermal pilot came online in 2023, just as ChatGPT became a household name and the AI race took off in earnest. And tax credits have remained intact.

This much is clear: As climate change has made wildfires more frequent and destructive, the issue of who pays for their costs has come to a head. My story with @a_rajbhandari on the all-out offensive to rewrite who pays for wildfires: bloomberg.com/news/features/… 5/5

The breadth of the company’s campaign underscores the massive threat wildfires have become for PacifiCorp and utilities across the American west. In fact, it's one of the thorniest issues facing Buffett’s successor Greg Abel as he begins his reign as Berkshire CEO. 4/5

From California to Texas, electric utilities are struggling to manage mounting fire risk in a warming climate. They are spending more than ever before on lawsuits and settlements, as well as on preventative measures, such as undergrounding lines. 1/5

Congratulations to @business for earning an Honorable Mention for “The Hidden Costs of AI”. By: Josh Saul, @naurtorious , @Leonardonclt , @HiMichelleMa , @dinabass , @pogkas and @andretartar

Honored to be recognized by @IRE_NICAR with my co-authors @Leonardonclt Josh Saul @HiMichelleMa @andretartar @naurtorious @pogkas (and thank you to our many patient editors including @sfiegerman)

Coming soon 👀 @CAgovernor Gavin Newsom sits down with Bloomberg’s @BradStone to talk California, Trump, and billionaires.

It's been a year since the Los Angeles wildfires that caused as much as $131 billion in property and economic losses. As the costs of repairing that damage are coming into clearer focus, so are the battles over who is going to pay the bills. @johngitt explains bloom.bg/4jselCR

A year after the LA wildfires, the price tag for the costliest blazes in US history is still climbing. Who pays is uncertain. Our story on how risk and damage have spread beyond burned neighborhoods and the fight to limit losses and shift liability: bloomberg.com/features/2026-…

Tesla co-founder JB Straubel's battery recycling firm Redwood Materials laid off dozens of staff, as the company shifts its focus to energy storage and critical minerals. This comes a month after Redwood raised $350 mn for an over $6 bn valuation. bloomberg.com/news/articles/…

Two of the world’s biggest data center developers have projects in Nvidia's hometown that may sit empty for years because the local utility isn’t ready to supply electricity. We called the developers and utility in question to find out why: bloomberg.com/news/articles/…

Redwood Materials has begun producing critical minerals at its $3.5 bn South Carolina plant, amid a chill in the US EV market. CEO JB Straubel told me most of its customers today are outside of the EV sector. More on the battery recycler's pivot: bloomberg.com/news/articles/…

Arbor Energy was founded as a carbon removal company that uses waste biomass to create electricity and remove CO2 from the atmosphere. Now, the company is pivoting to generating carbon-free electricity with natural gas, supported by a $55M Series A. Scoop-bloomberg.com/news/articles/…

Scoop: Rondo Energy has turned on a 100 MWH battery, helping a local oil & gas producer generate steam for thermal enhanced oil recovery. Using solar, the battery heats up clay bricks to produce steam, which is used to force oil from reservoirs. bloomberg.com/news/articles/…

The story comes a day after my colleague @AriNatter broke the news that the US Energy Department plans to cancel $7.6 billion of projects. That includes an award for CarbonCapture's regional direct air capture hub project. bloomberg.com/news/articles/…

Scoop: CarbonCapture Inc. has moved its 2,000-ton direct air capture project from the US to Canada, compelled by shifting political winds and a better policy environment in the north, CEO Adrian Corless told me: bloomberg.com/news/articles/…