This article is part of ISEN's series highlighting alumni in sustainability and energy. MORE PROFILES
Supporting technology and innovation in energy
Times have changed since Matt Maloney watched his father work for a large electric utility. It was a career path Matt never thought he would follow. However, he now finds himself working in the same field, with a twist toward the future.
Maloney, who graduated from Northwestern University with an MBA from the Kellogg School of Management, started on his path by working at an asset-based investment company. He helped launch their technology-based groups, which led him to his current position with Silicon Valley Bank (SVB).
SVB is a commercial bank that formed about 35 years ago, at a time when such banks were not often involved in the technology industry. Since its beginning, SVB has served the technology industry and has engaged with some 50,000 technology businesses ranging from first-day startups to large public technology companies.
As the Head of Energy and Resource Innovation at SVB, Maloney manages a team he formed more than 10 years ago as a trend of heightened investments in areas like solar, advanced biofuels and other clean energy areas began to emerge. “We built a group that does what we [at SVB] do for every other business, but focuses specifically on energy and resource innovation,” he explains.
Maloney’s team has evolved over the past decade to provide a wide range of traditional banking services and lending support to companies in conventional energy, efficiency, storage, and transmission. They also serve resources such as agriculture, food, water, and waste repurposing. “Anything where there is either sustainability or environmental impact and there is technology or innovation involved, we want to be there,” says Maloney, who is inspired by his frequent interactions with influencers, entrepreneurs, and investors.
Being given the opportunity to write up the business plan and start the new technology and resource based sector of SVB is one of Maloney’s biggest career accomplishments to date. “There are some aspects we put on the road map 10 years ago, which came true,” explains Maloney. “I’m quite proud of that and proud of the team. I never would have pictured that I would be here.”
“Anything where there is either sustainability or environmental impact and there is technology or innovation involved, we want to be there.” — Matt Maloney (KSM '89), Head of Energy and Resource Innovation at Silicon Valley Bank
Now, with over 30 years of experience investing in and lending to the technology industry, Maloney has a hand in all aspects of future technologies “I get to touch so many different things and I get to learn something new every day which makes each day exciting.”
Maloney notes that he has seen an interest in sustainable tech and energy from up and coming professionals and advises them to broaden their search.
“The elements of clean energy and sustainability are becoming so ubiquitous that you’d be surprised the wide variety of area where you could work and still have an impact on sustainability,” explains Maloney. “There’s the engineering and tech side, the software side, or consulting. It’s no longer separated, and it sort of bleeds into every agenda and field.”
This article is part of ISEN's series highlighting alumni in sustainability and energy. MORE PROFILES
