New Mexico's $72B Bet on Clean Energy

New Mexico's $72B Bet on Clean Energy

From Inevitable by an MCJ podcast

May 13, 2026 · 55 min

About this episode

The episode discusses New Mexico's ambitious strategy to leverage its energy wealth for climate innovation and economic growth, featuring key figures in the state's clean energy initiatives.

Rob Black is Cabinet Secretary of the New Mexico Economic Development Department, and Bruce Brown is Head of Strategic Climate Initiatives at the New Mexico State Investment Council, the state’s $72B sovereign wealth fund. Together, they are driving one of the most ambitious state-level strategies in the U.S. to turn energy wealth into long-term climate innovation and economic growth. The conversation also features MCJ portfolio founders building in the state: Carrie von Muench, Co-founder of Pacific Fusion, developing modular fusion energy systems, and Carl Hoiland, Co-founder and CEO of Zanskar Geothermal, using AI to discover and scale geothermal resources. Together, our guests explore how sovereign capital, policy, and startups intersect—from funding venture managers and attracting hyperscale projects to enabling first-of-a-kind (FOAK) infrastructure. The episode highlights what it actually takes to build (climate) companies in a new geography, and how New Mexico is positioning itself as a hub for advanced energy and climate tech. This episode of Inevitable was recorded in front of a live audience at the SVB Experience Center during SF Climate Week.

People in this episode

Guests: Rob Black, Bruce Brown, Carrie von Muench, Carl Hoiland

Topics covered

  • clean energy
  • economic growth
  • climate innovation
  • sovereign wealth fund
  • geothermal resources
  • fusion energy
  • advanced energy technology

Keywords

  • New Mexico
  • clean energy
  • economic development
  • climate tech
  • fusion energy
  • geothermal
  • sovereign capital

Mentioned in this episode

Organizations: New Mexico Economic Development Department, New Mexico State Investment Council, Pacific Fusion, Zanskar Geothermal

Places: New Mexico

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