Nat Bullard is co-founder of Halcyon, an AI-enabled energy information platform, and one of the energy sector's most respected data storytellers. Each year, Nat publishes an annual presentation on the state of decarbonisation, drawing on hundreds of data points to give business leaders a clear-eyed view of where the energy transition actually stands. In this episode, he joins Jenn to discuss why understanding the present moment is the only reliable foundation for thinking about the future.
Start With Reality, Not the Headlines
Senior decision-makers are often further from observed reality than they realise. Political narratives, media cycles, and consultant projections can all pull people away from what the data is actually showing. Nat's annual presentation exists precisely to close that gap. To give a clear, evidence-based picture of where the energy transition stands right now.
Don't Confuse the US Story With the Global Story
The noise around renewable energy in the US can distort the bigger picture. Globally, 2025 was another record year for renewable energy deployment, battery storage, and nuclear development. The story varies significantly by market, and investors who rely on headlines rather than data risk making decisions based on a partial picture.
Treat the Data Centre Boom With Eyes Open
The scale of investment in data centres and AI infrastructure is unprecedented. Nat's analogy is instructive: the dark fibre left over after the dot-com bust is what eventually became Amazon Web Services. The downstream opportunities from today's buildout are hard to see from here, but they will exist.