Company 360: Q&A with Chris Preston, Element 8 Board Member

Element 8 Senior Fellow, Allison Arnold, interviews Chris Preston, Board Member, Element 8 and Axiom Exergy 

Chris Preston headshot - cropped and resizedWhat drove your initial interest in Axiom Exergy?

There were two aspects that drove my initial interest in the company:  First, is the intellectual acumen and integrity of the entrepreneurs and co-founders. Second, I appreciate the singular focus they brought to the idea and their plan to realize it.

What specifically about the business model led you to decide to become involved as a board member for Axiom Exergy?

The chance to work with talented leaders, to add value that would help them succeed, and to learn more about the exciting area of energy storage influenced my decision to become involved.

In what ways does Axiom Exergy’s business align with Element 8’s mission and investment goals? 

Axiom’s Refrigeration Battery uses patented technology to reduce electricity consumption in the grocery sector. The solution dispenses stored energy during peak load times in the day when electricity prices are the highest.

What has Axiom Exergy done to build a company well-positioned for growth?   

Axiom Exergy’s technology has been awarded a patent, they are proving economic benefit with a well-recognized pilot customer, and have won $6 million in new business.

How do you see the market for clean tech investment evolving in the next 3 years? 

It’s hard to say specifically how the clean tech market will evolve, but there will always be demand for solutions that solve customer pain.

What was the most valuable piece of advice you’ve received as an investor or adviser?

As an angel investor, always invest in people before technology, although you fundamentally have to believe the technology and product/market fit will get there.