Idealab and Heliogen Founder Bill Gross speaks onstage during Vox Media’s 2022 Code Conference on September 08, 2022 in Beverly Hills, California.
Jerod Harris | Getty Images Entertainment | Getty Images
Bill Gross is best known for founding the technology incubator Idealab in 1996, after starting a handful of companies in software, education tech and online services spaces.
In the quarter-century since, Idealab has has started more than 150 companies and had more than 45 successful exits. Today, Gross devotes virtually all of his time to being the CEO of clean energy company Heliogen, which he launched out of Idealab in 2013, scoring Bill Gates as an early investor.
But Gross has always been a climate tech entrepreneur. He’s just had to wait for the world to catch up with him a bit.
He actually started a solar device company when he was in high school, long before he got into software, and the money he made helped him pay for college.
Gross grew up in the San Fernando Valley in Los Angeles. When he was 15, in 1973, gas was rationed after OPEC imposed an oil embargo against the United States in order to punish the U.S. for providing support to Israel in the Arab-Israel war.
“You only could buy five dollars of gasoline per day. And I remember that my mother couldn’t buy enough gasoline to drive me to school,” Gross told CNBC in a video interview earlier in the fall.
So Gross had to ride his bike to high school. “As I’m riding both ways on the bicycle, I’m sitting here thinking, ‘It’s crazy that there’s somewhere else in the world that could decide to cut off your fuel supply, the thing that people need for their livelihood.’ I didn’t understand anything about climate change, or energy or anything. I just thought, ‘Someone else could do that?! That’s crazy.'”
This thought is still relevant now almost 50 years later, as Russia has cut off supplies of gas it is sending to Europe in response to the Ukraine war.
Gross went to the library after school to read about alternative renewable forms of energy such as solar energy and wind energy in the likes of Popular Science or Scientific American magazines. He got excited about the idea of renewable energy, had just taken trigonometry in school and used his newfound knowledge of both to make a couple of devices based on the idea of catching the sunlight and concentrating it.
Notes from when Bill Gross was a teenager developing the solar device that he went on to sell by mail in the 1970’s.
Photo courtesy Bill Gross
One device he made was a parabola-shaped solar concentrator that could be used to create a solar oven or solar cooker. The other was a Stirling engine, which converts heat energy into kinetic or mechanical energy.
“Because I was reading Popular Science magazine, I saw people used to take out little ads in the back,” Gross told CNBC. “And I had $400 of bar mitzvah money leftover, so I took out a small add in the back of Popular Science advertising ‘Kits and plans to make your own solar concentrator,’ and I started selling them!”
He would go on to sell 10,000 of these plans and kits starting at $4 apiece. Personal computers didn’t yet exist, so he typed the material on a typewriter and made the drawings himself by hand.
An advertisement that Bill Gross placed in the back of Popular Science magazine to advertise his solar devices company. The plans Gross sold were $4.00, but the ad says 25 cents to get a catalog, because he had a few different offerings.
Courtesy Bill Gross
He put what he made towards his college tuition. People from all over the country bought the kits and would send Gross a check or cash. It was his first foray into entrepreneurship, which was exciting, he said, and the experience served to change the trajectory of his life in other ways, too.
“I was really passionate about it back then. It really affected my life,” Gross told CNBC. “I wrote about that little business I started — it was called Solar Devices — on my application to college and it got me into CalTech. So it probably had a huge impact on my direction.”
For a long time, ‘nobody cared’
Gross studied mechanical engineering at CalTech while continuing to run the Solar Devices business during his first year, but then college got too demanding and he couldn’t keep up with running the business. Gross graduated from CalTech in 1981, right around the time IBM released its first mass-market personal computer.
Solar Devices order tracking from Bill Gross, circa 1970’s.
Photo courtesy Bill Gross
“I have these two seminal things that happen in my life: The Arab oil embargo and now the PC is invented basically on my day of graduation in 1981,” Gross told CNBC. “So I went down and bought an IBM PC. And I started learning how to program and I had a detour for 20 years doing software.”
Gross’ detour into software started in the early 1980’s when hewrote accounting software inside of Lotus 1-2-3 to help manage his business making and selling high-performance loudspeakers. He started selling that software for $695. Gross, his brother and two CalTech friends came up with a natural language interface to Lotus 1-2-3, which they showed off at a Las Vegas tech show in 1985. Lotus ended up acquiring the product (and the four of them) for $10 million.
Gross later founded an educational software company and sold it to Vivendi for $90 million, then started tech incubator Idealab at the dawn of the dot-com boom. In the early 2000s, he decided to begin to pivot back to climate tech, this time with some money in the bank.
Bill Gross graduating from college.
Photo courtesy Bill Gross.
He started doing research and development in the space, but there wasn’t enough demand for solar energy tech. “I was way too early. No one cared,” Gross told CNBC.
“I remember I was working on this when Al Gore came out with ‘Inconvenient Truth.’ Still, nobody cared. I remember working on this in 2008 during the recession, nobody cared. I remember in the early 2010, 2012, people started talking about it, but there was no Greta yet,” Gross said, referring to the climate activist Greta Thunberg, who started protesting a lack of climate change action in 2018. “There was no movement. And certainly there was no inflation Reduction Act, which is a game changer,” Gross said.
In 2010, Gross heard Bill Gates speak at a TED conference about needing to make energy and energy storage cheaper. After that talk, Gross approached Gates and shared his idea of using computational power to improve the efficiency of solar power. Gates ended up investing in Gross’s idea, seeing the potential to replace many industrial processes that require high heat and burn fossil fuels to get there.
In 2013, Gross launched Heliogen, which uses artificial intelligence to position a collection of mirrors located in a circle around a central tower to reflect the sunlight back with maximum impact.
One critical component of Heliogen’s approach is built-in energy storage. One limiting factor for solar energy is its intermittency, which means it only delivers power when the sun is shining. But Heliogen stores energy as heat in a thermos of rocks — something traditional solar panels cannot do without batteries, as they turn the sun’s rays immediately into electricity.
“We’re gathering the energy when the sun is out. But we’re delivering the energy continuously because the energy is coming out of the rock bed,” Gross told CNBC. “And basically we are recharging the rock bed, like you would recharge your battery. The difference is a battery expensive, and rock bed is cheap.”
In 2019, Heliogen announced it had successfully concentrated solar energy to temperatures over 1,832 degrees Fahrenheit.
A bird’s eye view of the concentrated solar technology Heliogen is working to build and commercialize. This is the demonstration project in Lancaster, Calif.
Photo courtesy Heliogen
“Heliogen is the culmination of my life’s work,” Gross told CNBC, because it uses both software and renewable energy expertise.
The company had its first prototype in 2015, “but then, still, nobody cared. Couldn’t get any customers,” Gross said. He did get a couple of customers, but, it was still “struggling, struggling, struggling.” By 2019, Heliogen had the first large-scale system built and this time, “the world went crazy,” Gross said. “We got so much press and publicity, and customers started calling us all over who wanted to replace fossil fuels with concentrated sunlight, and then Covid hit,” Gross said.
After a bit of a Covid slowdown, interest started picking up again as the urgency around decarbonizing mounted and as energy price volatility made companies rethink their energy supply strategies, Gross said. The company went public via SPAC in a deal that landed $188 million of gross cash proceeds to Heliogen and on Dec. 31, 2021, Heliogen started trading.
The company is not yet profitable, losing $108 million in the first nine months of the year, but that’s expected as the company scales, according to Gross.
“We projected we would run at a loss for the few years of operation as we drive down the cost with volume production and the renewable energy production learning curve,” Gross told CNBC.
Heliogen’s first commercial grade project is in the final stages of permitting and aims to break ground next year in Mojave, California. The concentrated solar field is funded with $50 million from Woodside Energy, a wholly owned subsidiary of the Australian energy producer Woodside Petroleum, and $39 million from the U.S. Department of Energy.
This is the demonstration project in Lancaster, Calif. of the the concentrated solar technology Heliogen is working to build and commercialize.
Photo courtesy Heliogen
While Gross has been ahead of the curve for most of his climate career, he’s confident the industry is catching up with him now. As the urgency surrounding climate change has become more widely understood, corporate executives face pressure from stakeholders to clean up their corporate emissions.
“But then the final straw was price of fossil fuels went up like crazy. The price of fossil fuels after Russia invaded Ukraine is a game changer,” Gross told CNBC. “Now, it’s not just for CO2 emissions, now you can save money. Now, this is the ultimate thing, which is make the energy transition be about reducing your cost, not about increasing your cost.”
There’s no time to waste.
“When I was a teenager, there was 320 parts per million of CO2 in the atmosphere,” said Gross, who is now 64 years old. “And today, there are 420.”
For the better part of a year, Tesla has been promising “more affordable models” to replace the cancelled “Model 2.” The new models were supposed to go into production in the next 2 days, but it sure feels like that might not happen, because nobody’s heard anything at all about them.
For several years now, Tesla has been teasing everyone with the promise of more affordable models.
While the Tesla Model 3 is pretty reasonably priced, many were waiting for a promised $25,000 model, which many had taken to calling the “Model 2.”
Tesla was supposedly going to pursue a new revolutionary “unboxed” manufacturing method to get costs down for the future vehicle, to enable this lower price.
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However, last year Tesla CEO Elon Musk refocused the company’s efforts on its much–delayed Robotaxi project, which finally launched last weekend in limited form in Austin, to mixed results. The company also wants to release a purpose-built Robotaxi vehicle called the Cybercab, which is first showed off last October. It plans to its unboxed manufacturing method for the Cybercab.
Despite canceling $25k Tesla, “more affordable models” were teased
Even after canceling plans for the $25,000 “Model 2,” Tesla continued to say it was working on “more affordable models.” It started including that phrase in its quarterly reports in April 2024, in its Q1 report. At the time, it said it had “updated our future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025.”
In each report since then, Tesla has reiterated that “Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025.”
The most recent inclusion of this phrase is in Tesla’s Q1 2025 report, which was released on April 22 of this year. Again, Tesla said that these models were on track for start of production in the first half of 2025.
On that Q1 call, Tesla’s head of vehicle engineering, Lars Moravy, answered a question about the company’s more affordable models thusly:
Yeah, we’re still planning to release models this year. As with all launches, we’re working through like the last-minute issues that pop up. We’re not getting down one by one. At this point, I would say that ramp maybe — might be a little slower than we had hoped initially, but there’s nothing, just kind of given the turmoil that exists in the industry right now. But there’s nothing blocking us from starting production within the next — within the timeline laid out in the opening remarks. And I will say, it’s important to emphasize that as we’ve said all along, the full utilization of our factories is the primary goal for these new products. And so flexibility of what we can do within the form factor and the design of it is really limited to what we can do in our existing lines rather than build new ones. But we’ve been targeting the low cost of ownership. Monthly payment is the biggest differentiator for our vehicles. And that’s why we’re focused on bringing these new models with the big, new lowest price to the market within the constraints of selling.
That was said only two months ago, when Tesla should have had good visibility on the imminent start of production of new models. And the first half of 2025 ends on June 30, two days from now. As of yet, we have heard nothing more about it.
We should have heard something by now
Typically, in advance of the launch of a new model, we will get some sort of information. Rarely can a company, especially on with such a magnifying glass over everything it does, get away with a secret launch of something like a car. There’d be camouflagedvehicles, supplier reports, leaks from the inside, or something of the sort. Yet we’ve seen very little.
Now… Tesla did say that it would start production, rather than start sales, within the first half of this year. So they don’t have to have it ready on the lot, and even starting trial production could kind of qualify.
The last time Tesla did pull off an unexpected vehicle launch was the next-gen Roadster, but that was 8 years ago, and it still hasn’t gone into production. Even the Robovan concept unveiled at the Cybercab event, which wasn’t expected at that particular event, had seen leaks years prior.
It might just be a stripped down Model 3/Y
Another wrinkle is that Tesla has never really detailed exactly what the phrase “more affordable models” means.
As best we can tell, the plan is to release a stripped-down version of the Model 3/Y, rather than an actual new model. However, in that case, the inclusion of the word “models” is strange, since that suggests an actual new model (or multiple new models) rather than just a cheaper version of an existing one.
Tesla could really use a boost right now
Importantly, now would be a good time for Tesla to have a more affordable model. The company is suffering from a huge sales decline in almost every territory where it sells – partially due to an aging product line, with only one new model released in the last 6 years, the Cybertruck… and it’s a flop.
And while Musk also continues to promise world-changing innovations at Tesla (whenever he looks away from his phone for two seconds), few of them have materialized. Tesla is supposed to change the world in 6 ways this year (Semi, Roadster, unsupervised FSD, Cybercab, Optimus, and the “affordable EV”), and halfway through the year, has so far achieved none of them.
So, given that releasing an eyesore didn’t work, updating its most popular vehicle didn’t work, overpromising world-changing innovations didn’t work, and the CEO acting like a nazi at every possible turn didn’t work, maybe the company should try the one thing it hasn’t: a more affordable model. But Tesla, so far, has declined this strategy – despite teasing us for so long with the idea.
Now, we do still have two days, so who knows, maybe we’ll get some sort of announcement imminently. It is possible, for example, that Tesla is saving its announcement for the very end of the quarter, so as not to spoil its traditional end-of-quarter sales rush (on what is already expected to be a poor sales quarter). But if it does happen, we will be surprised. And if the change is anything more than a mildly de-contented Model 3/Y, we may even be impressed.
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TQ, the German force behind some of the lightest and quietest e-bike motors on the market, just took a leap forward – again. Barely weeks after debuting the lightweight HPR60 e-bike drive system, the company has introduced the HPR40, now claiming the title of the lightest and most efficient mid-drive motor in the world.
Tailored for road and gravel e-bikes, the HPR40 clocks in at just 1.17 kg (2.6 lb). That means it has slashed nearly half the weight of the previous HPR60, which weighed 1.92 kg (4.2 lb).
Despite being smaller, it still delivers a respectable 40 Nm of torque and up to 200W of peak power, making it ideal for riders seeking subtle assist rather than brute force. This isn’t about raw horsepower; it’s about efficiency and seamless integration.
Unlike motors that have been rebadged from their original use on mountain bikes or commuters, TQ designed the HPR40 from scratch for lighter frames, aiming to remain nearly invisible on a bike’s bottom bracket and with controls hidden inside the handlebar. The result is a drive system that blends into the bike like a whisper, offering performance without the bulk.
At the heart of the HPR motor is TQ’s Harmonic Pin-Ring Transmission, which is a refined drivetrain rearranged to live fully inside a bike in place of the bottom bracket. This clever design eliminates noisy gears, reduces friction, and lets the motor engage instantly with zero lag. While that might sound like many mid-drives we regularly see from manufacturers like Bosch, TQ’s is so small and so deeply integrated that it’s barely visible to a casual observer.
The HPR40 pairs with a 290Wh battery that weighs just 1.46 kg (3.2 lb) and is hidden inside the downtube. There’s also a water bottle-sized 160 Wh range extender available, keeping total system weight under 2.7 kg (6 lbs). That’s one of the lightest fully integrated e-bike systems out there.
Control comes via a hidden handlebar remote hidden under the handlebar tape, and a sleek end-cap LED display keeps essentials in view without disrupting aesthetics. This stripped-down interface reinforces TQ’s philosophy: get out of the rider’s way. Or as New Atlas humorously described it, “it’s almost as if the company is daring riders to start a fresh round of mechanical doping scandals.”
TQ’s HPR40 isn’t just a fancy new drive system in a display booth, it’s already built into the new Canyon Endurace:ONFly, a sub‑10 kg (22 lb) e-road bike that tips the scales at just 9.9 kg. The Endurace:ONFly marries TQ’s whisper-soft assist with Canyon’s aerodynamic finesse, offering riders a bike that feels analog but rides electric.
The HPR40’s high torque density means riders can double their pedaling output with a modest 200 W boost. That translates to better climbs, longer rides, and a natural ride feel, all without the compromises of heavier systems. Considering that many riders can put out around 200W of constant power by themselves, the effect is like having a tandem rider along helping out, except that he only weighs 6 pounds.
The move shows that not every drive maker is merely chasing horsepower and torque figures. Instead, by merging elegant design, noticeable yet natural power, and light weight, TQ is proving that electric assistance doesn’t have to scream. It can whisper.
Electrek’s Take
Here’s the real story: the HPR40 isn’t just a technical footnote, it’s a signal. It shows that electric bike engineering is transitioning from brute force toward a future that also includes invisible, intuitive power systems. For riders chasing the delicate line between analog feel and electric assist, this is a breakthrough.
And considering that many riders are reaching an age where their mind wants to do the kind of rides that their body might no longer be capable of, systems like these can keep those riders in the saddle for longer. That’s many more years of keeping the good times rolling (and keeping the body young by continuing regular exercise).
Now the question is whether other brands will follow suit. Will we see this ultra-light motor trickle down into commuter e‑bikes or adventure-ready gravel rigs? If so, the day when an e‑bike feels exactly like a bike, but gives you a little assist when you need it most, just got much closer.
TQ is playing a long game: subtle, smart, and purpose-built. The HPR40 is merely the first move, and if this is any indicator, the next wave of e-bikes may feel less electric and more… old school?
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Elon Musk claims Tesla has delivered its first car fully autonomously from the factory to a customer’s home “across town.”
If true, I’d argue that this is actually a bigger deal than its “Robotaxi” with supervisors, but there are still questions about the value of such a system.
The Tesla CEO announced on X:
The first fully autonomous delivery of a Tesla Model Y from factory to a customer home across town, including highways, was just completed a day ahead of schedule!!
Musk has been known to stretch the meaning of the words “fully autonomous” over the years, but he did give a few more details:
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There were no people in the car at all and no remote operators in control at any point. FULLY autonomous! To the best of our knowledge, this is the first fully autonomous drive with no people in the car or remotely operating the car on a public highway.
This would be somewhat of an improvement from its recently launched Robotaxi service, which involves a Tesla employee in the passenger seat at all times, ready to hit a kill switch.
However, Musk’s last comment is not valid. Several companies have tested fully autonomous driving with no one in the driver’s seat or in the car, and Waymo has even started offering rides to paying passengers on freeways.
Highway driving is part of Waymo’s operations in Phoenix, San Francisco, and Los Angeles, although it is currently only available to employees through Waymo’s internal app in the latter two markets.
Musk says that a video of the milestone is coming soon.
The milestone comes after Tesla has been moving its vehicles autonomously from the end of the line to its delivery lots at factories in the US for the last few months.
Electrek’s Take
With in-car supervisors at all times and numerous issues arising in just the first few days of operations, Tesla’s Robotaxi launch fell short of expectations. For anyone who had previously experienced Tesla’s Supervised Full Self-Driving or a more comprehensive product like Waymo, it didn’t feel special.
An autonomous drive with no one in the car, including highway driving from the factory to a customer’s home, can be more impressive, albeit with some potential caveats.
“No people in the car at all and no remote operators in control at any point.” In some sense, Tesla’s FSD and Robotaxi programs would be able to do that too, it’s just that Tesla is not confident that they can do it reliably enough over long periods of time to remove the supervision.
Which raises the question: what’s different with this?
No one in the car, so Tesla doesn’t take the safety concerns as seriously? That would be weird, as the safety of people outside of the vehicle, aka other road users, also needs to be considered.
It’s possible that Tesla tested the particular route for this drive several times and then remotely, even potentially with a trailing car, as it was spotted several times in recent months, monitored it with someone ready to stop it at all times.
It wouldn’t be that far from what Tesla already operates, and not something scalable until we see data that shows Tesla can consistently do this safely over hundreds of thousands of miles.
Ultimately, that remains the main issue. Tesla is big on making videos and making showy statements when it comes to self-driving, but it has never released any relevant data. Ever. Let’s see it.
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