Connect with us

Published

3 years ago

on

A view of the Exxon Mobil refinery in Baytown, Texas.

Jessica Rinaldi | Reuters

Jennifer Grancio was among the leaders at Engine No. 1, the upstart investing firm focused on climate and energy transition, that bested ExxonMobil in a 2021 proxy contest upset few saw coming. What Engine No. 1 decided to do next was maybe as surprising: move away from the activist investor approach that worked so well in winning board seats at the oil and gas giant.

Now CEO, Grancio doesn’t want the firm to be defined by the Exxon headline, but rather by a long-term investing approach that is a blueprint for how companies should think about huge systems changes like energy transition, and how investors should access the value that will be created by the companies that get it, and scale transformed businesses.

“Investing is something you can do for the very short-term, but for the vast majority of asset owners … they are all looking for performance over time,” Grancio said at the CNBC ESG Impact virtual event on Thursday. “The market can get confused about investing only for ideology or the extremely short-term, but Engine No. 1 is going deep with companies, looking primarily at the business model and how it will need to change over time to create value for shareholders.”

The ExxonMobil campaign does hit on the big themes: having the right governance in place to see companies through big systems changes, making the right investments and avoiding the wrong ones. “We got into Exxon as an investor because we knew if it is smart and has the right management for energy transition and how the business is valued after energy transition, that will be great for shareholders,” she said. “We think of the ExxonMobil campaign as being about governance and long-term capitalism,” she said.

Grancio shared a few of her foundational ideas for investing in the future and staying ahead of the market at ESG Impact.

Lots of technology, but not tech stocks

“As investors, we like to talk about Google and Amazon, but where the returns will really be generated in the next decade, we look to agriculture, autos and energy,” Grancio said.

Engine No. 1 is doing a lot of work with autos, which it has been public about, including an investment in GM, on what she describes as a long term transition.  

Incumbents like GM will have a huge reduction of emissions and be a big winner, says Engine No. 1's Grancio

“People know about Tesla, but they forget about GM and Ford,” Grancio said.

“We will have this huge transition and it needs scale, and that’s millions and millions of cars and there is huge room for incumbents like GM and Ford to be part of creating and meeting all of this demand,” she said. This doesn’t mean Tesla won’t be a winner, she added, but GM and Ford also will be, Grancio said.

Don’t just be an index fund investor

Engine No. 1 has a passive index ETF — Grancio was among the senior leaders of the BlackRock iShares ETF business before joining Engine No. 1 — but she warns investors that in the same way they may focus on Tesla and forget about the rest of the auto sector, they will miss out on big investment opportunities if they stick with the index portfolio weightings.

“If you leave your money in a passive index fund, or you only buy the super-growth stocks, you will have a huge problem in your portfolio,” she said. “Investors are underweight the big transition ideas if they are in the indexes,” she added.

Grancio said holding the market in an index fund allows investors to use their shareholder voting power to drive outcomes, which it did by banding together with many large institutional shareholders to take on Exxon, but many of the biggest transition plays, from energy to transportation, are underweights for the majority of investors because of index fund use.

Another big example she cited is agriculture, and a company that she said is getting it right: Deere. “It makes tractors and tractors are dirty, but if we flip that and think about impact and the global food crisis and solving it, Deere’s moves into precision ag are better for climate and yield and financial performance of farmers,” she said. Deere is building a business to solve a huge systemic problem which also has an impact investing perspective, she said.

Still investing in big oil, and expecting energy transition to take a ‘little longer’

Grancio says that Engine No. 1’s work with Exxon is a sign that ESG investing works. “Look at the appreciation of different companies in energy and Exxon has more than doubled, significantly higher than peers, and it wasn’t just the price of oil,” she said.

She also cited Oxy (formerly Occidental Petroleum) which has been a leader in the energy transition space and has more than doubled in 2022 “because it is different from peers,” she said. “We believe these are fundamentally investment issues,” she added. Another important factor that made Oxy different from peers: a massive investment made by Warren Buffett in the company.

Engine No. 1 continues to be an active owner of energy companies, working on many of the same issues that it did at Exxon even if not through a proxy war: managing capital allocation, setting clear targets on emissions, and investing in green energy business.

But she says that the last year during which the price of oil spiked as a result of the war in Ukraine and critical energy shortages in Europe were exposed does mean that the energy transition “will probably be a little bit longer.”

“People use fossil fuels and we have not made this transition, and if we need fossil fuel assets we need them to be managed by the biggest companies in a way that is also looking at new technologies to maintain value after the transition, when we will be more in need of renewables and carbon capture,” she said.

That’s why she continues to see big energy companies as an investment opportunity. “They know how to do these things at scale. We need to deliver energy to the world today, but as we get to the other side of the energy transition, how they deal with these issues will be required for them to still have a great business,” she said. “We think there is a lot of room to work constructively with companies on these issues.”

US reshoring of manufacturing should be a new focus

While it does not fit neatly into an ESG box like climate, Grancio said one of the biggest investment opportunities in the future that she is chasing will be American companies in manufacturing, transportation and logistics tied to a huge resurgence in domestic production and manufacturing.

“Investors are not holding railroads, not assuming cars or chips will be made in the U.S.,” she said.

On Thursday, President Biden touted a plan by IBM to invest $20 billion in New York-based chip manufacturing, two days after Micron Technology announced up to $100 billion in semi manufacturing investments in the state.

Without providing details, she said Engine No. 1 will be creating an investment in the future around the opportunity to invest in the U.S. supply chain. “We’ll be doing something,” she said. 

The U.S. domestic manufacturing revival is, in a sense, form of “systems change,” as globalization of prior decades is disrupted. And that fits Engine No. 1’s overall discipline. “We really think you have to understand systems and companies at a deep level to make good choices. Investing should never be ideological. It should be about understanding these companies and how industries are changing,” she said. And at a time of serious political blowback against ESG investing focused primarily on energy companies and climate change, she added, “Hopefully, we don’t let theater get in the way on this.” 

Related Topics:
Continue Reading

Environment

Prime Day-1 Green Deals: Lectric’s new XP Trike2, EcoFlow, Segway e-bikes, ECOVACS robot mowers, Anker SOLIX, and much more

Published

29 mins ago

on

July 8, 2025

By

Prime Day-1 Green Deals: Lectric's new XP Trike2, EcoFlow, Segway e-bikes, ECOVACS robot mowers, Anker SOLIX, and much more

Amazon’s Prime Day is in full swing through the rest of the week, and we’ve got a jam-packed edition of Green Deals for you today from the first round of savings that we’ve spotted so far, with all the rest being added to our Prime Day Green Deals hub here, which we’ll be updating regularly. Leading the pack is the preorder launch of Lectric’s new XP Trike2 that is getting $227 in free gear at $1,499 through July 28th. We also have some EcoFlow direct-website Prime Day savings, like the DELTA Pro 3 bundle with a 400W panel and a transfer switch at a new $2,849 low, among others. There’s also the new low price hitting Segway’s Xafari e-bike for $2,000, while the Xyber e-bike is down at $3,000. All that and much more are waiting for you below.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Lectric launches new and improved XP Trike2 with $227 in free gear for preorder at $1,499

As part of Lectric’s newly launched Better Than Prime Sale, the brand is offering preorder savings on its all-new XP Trike2 that comes with $227 in free gear at $1,499 shipped, while the upgraded 750 model won’t be available for preorder until September. This bundle would normally cost $1,726 in full, but as most folks know, the brand tends to provide discounts on the bundled items over actual price cuts. This all-new commuting solution is getting the first chance at savings through July 28th, when it is slated to begin shipping. Along with the eTrike, you’ll be getting a wider saddle with a supporting backrest, an Elite headlight, and a suspension seat post. Head below to learn more about this model and its upcoming 750 variant too.

The next generation of one of the most popular eTrikes on the market, especially amongst older riders, Lectric’s new XP Trike2 cruises onto the scene with a Stealth M24 500W rear hub motor (peaking at 1,092W) that runs quieter than normal motors, as well as a 624Wh battery. This combination provides top speeds of 14 MPH and a travel range of up to 50 miles on a single charge when the five PAS levels are activated. If you haven’t ridden in a while and want to take things slow, there is a power-limiting preset feature that dials down its max speed until you’re ready.

Advertisement – scroll for more content

There’s a bunch of notable upgrades coming with the Lectric XP Trike2, like the Cloud 50 suspension fork to take pressure off your joints, as well as hydraulic brakes for guaranteed stopping power, a headlight and taillight that provides amber side lighting, turn signals, brake lighting, plus reflective tires – all in the name of keeping you seen and safe. You’ll also be getting puncture-resistant tires with fenders over each, a 20A internal controller with an IPX5 water-resistance rating, parking brakes, a rear cargo rack with a 75-pound payload, a half-twist throttle, a new TFT LCD display, keyless riding functionality, and more.

Now, if you want to hold off for the upgraded Lectric XP Trike2 750 model, there are a few key differences to consider. First, it will be available at $1,799 shipped come September, with a larger 840Wh battery and Stealth M24 750W rear hub motor (peaking at 1,310W) that provide increased 17 MPH top speeds and a travel range up to 70 miles with the pedal assistance activated. From there, the big changeup comes from the inclusion of the brand’s Quick Switch tech that allows you to switch between cadence and torque sensors.

EcoFlow DELTA 3 Pro power station

Get $2,448 in savings on EcoFlow’s DELTA Pro 3 bundle with a 400W panel and transfer switch at new $2,849 low

EcoFlow has switched to its full Prime Day Sale event running through July 11 with up to 62% discounts (and a bonus 5% savings) across a massive lineup of units. Three offers can be found only on the brand’s direct site, with the biggest deal amongst them being the DELTA Pro 3 Portable Power Station bundled with a 400W solar panel and transfer switch for $2,849.05 shipped, after using the code EFPDAFF5 at checkout for an additional 5% off. This package would normally run you $5,297 at full price, which we’ve only seen brought as low as $3,499 back in its Memorial Day sale. The deal here gives you more savings than ever, putting $2,448 back in your pocket for the best new price we have tracked.

Check out the full post and all the included bundles in our original coverage here.

Segway e-bikes

Segway’s Xafari and Xyber e-bikes with Apple Find My, proximity locking, more are starting from a new $2,000 low

Running parallel to Amazon’s Prime Day Sale event, Segway has some limited-time discounts of up to $400 on its two new e-bikes. Through July 11, you can score the Xafari e-bike at $1,999.99 shipped, while the Xyber e-bike is down at $2,999.99 shipped. Normally fetching $2,400 and $3,300, respectively, we’ve only seen previous post-launch discounts hitting these models once before at the top of June, when their prices were brought down to $2,200 and $3,000. While the low price is returning for the Xyber e-bike, the Xafari is seeing even lower pricing for this event that saves you $400 off the tag at the new best rate we have tracked.

Get the full rundown on what you can expect from these models in our original coverage here.

ECOVACS robot lawn mower

Save $600 on ECOVACS’ AI-supported Goat A2500 robot mower at new $1,100 low for Prime Day

As part of its Prime Day event, Amazon is offering the price yet on the new ECOVACS Goat A2500 RTK Robot Lawn Mower dropping to $1,199.99 shipped during this event. This new model has spent most of the time since its release earlier in the year keeping to its $2,000 full price, which we’ve seen brought down as low as $1,500 with discounts so far. During this seasonal event, we’re seeing things go even lower thanks to the 30% markdown that is cutting $600 off the tag, landing it at the best price we have tracked.

Get the full rundown on what you can expect from this new model in our original coverage here.

Anker SOLIX F3000 power station

Anker’s new modular SOLIX F3000 3,072Wh LiFePO4 station gets up to $2,599 increased savings from a new $1,599 low

Anker SOLIX has officially launched its full Prime Day Sale with up to 57% discounts, bonus savings, free gifts, and more through July 11. Among the deals we’re seeing, the brand’s new SOLIX F3000 Portable Power Station is getting increased savings up to 2,599 off, with things starting at the solo power station for $1,519.05 shipped, after using the code PDSG5OFF at checkout. which is also matching in price at Amazon. Outside of these initial savings, this new unit will carry a $2,599 price tag, which is reduced from the $900 $1,080 markdown that lands it at a new low price. What’s more, the brand is also offering reduced add-on accessory discounts (on the station’s landing page), giving folks the chance to pick up the home backup kit for just $99 (normally $399) and/or the 120V generator input adapter at $49 (normally $99) – adding on an additional $350 savings should you take the opportunity.

Get the full rundown on what you can expect from this new model, as well as the pricing on its bundles in our original coverage here.

greenworks crossover-Z riding lawn mower

Get $2,200+ savings on Greenworks’ 60V Crossover-Z riding mower with six 8Ah batteries at a new $2,797 low

As part of its Prime Day Competitor Sale, Walmart is offering the best pricing yet on the Greenworks 60V Crossover-Z 42-inch Cordless Zero Turn Riding Lawn Mower with six 8Ah batteries and three dual port turbo chargers at $2,797 shipped. Normally, this package would run you $5,600 direct from the brand’s website, where it’s currently marked down to $5,319, but fetches $4,997 at Walmart. The already significant difference in price only gets better with the $2,200 markdown we’re seeing during this sale that beats out all the pricing we’ve seen up until today to land it at a new all-time low. You won’t find this package at Amazon, where only the bundle with four 8Ah batteries is offered – plus, that’s sitting nearly $1,000 higher in price, so you’re getting a lot more here for a lot less.

Learn more about this riding mower in our original coverage here.

Aiper IrriSense smart irrigation system

Get $100 in first savings on Aiper’s IrriSense smart irrigation system that covers 4,800 square feet at $600

Through its official Amazon storefront, Aiper is offering the first chance at savings on its new IrriSense Smart Irrigation System at $599.99 shipped, after clipping the on-page $100 off coupon, with the price matching direct from the brand’s website. This new device just hit the scene back in May with a $700 price tag, with the deal we’re seeing here from both Amazon and the brand’s direct site being the first chance at cash savings that we have tracked. You’ll be able to upgrade your irrigation with a smarter alternative at $100 off while it lasts, setting the bar for future deals down the line.

Learn more about this all-new release and what it can do in our original coverage here.

Best Summer EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Ford launches new $0 down, 0% interest summer sales promo and you get a free EV charger

Published

41 mins ago

on

July 8, 2025

By

Ford launches new alt=

Ford-summer-sales-promo

Ford has a new idea to help you save this summer: $0 down payment, 0% interest, and zero payments for the first 90 days. The new summer sales promo is available on most Ford and Lincoln models. Those buying an electric vehicle can also score a free home EV charger.

In April, Ford launched the “From America, For America” campaign, offering employee pricing to all. According to Ford, the offer helped make it the number one selling brand in America in the first half of 2025.

Despite the success, Ford is shaking it up for the second half of the year. Starting July 8, Ford is transitioning to its new “Zero, Zero, Zero” offer.

The summer sales promo features a $0 down payment, 0% interest for 48 months, and zero payments for the first 90 days on most Ford and Lincoln vehicles.

Advertisement – scroll for more content

Although the employee pricing plan turned out to be a success, Ford dealers said buyers could benefit from less out-of-pocket expenses.

Those shopping for an EV can also score a free home charge. Ford extended its Power Promise program through September 30.

Ford-summer-sales-promo
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)

The program offers buyers a free Level 2 home charger (plus standard installation) and other perks like 24/7 live electric vehicle support, roadside assistance, and an 8-year, 100,000-mile battery warranty.

Despite strong overall sales in the second quarter, Ford’s EV sales fell by nearly a third. Ford spokesperson Martin Gunsberg told Electrek the lower EV sales were due to the Mustang Mach-E recall and changeover to the 2025 model year. “Our dealers can’t sell what they don’t have,” he said.

Ford-summer-sales-promo
2025 Ford Mustang Mach-E (Source: Ford)

Although the Trump administration is ending the federal EV tax credit, you still have until September 30 to snag the savings on eligible models.

Ready to test one out for yourself? You can use our links below to find deals on the Mustang Mach-E and F-150 Lightning at a dealer near you.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

We’re trimming our position in a middling stock to avoid a cardinal sin of investing

Published

49 mins ago

on

July 8, 2025

By

We're trimming our position in a middling stock to avoid a cardinal sin of investing

Continue Reading

Trending