Sunaina Sinha Haldea’s itinerant childhood — in New Delhi; Lagos, Nigeria; Harare, Zimbabwe; and Hanoi, Vietnam — shaped her future as the first female leader of the clean energy company SFC Energy AG. Days-long power cuts were common in the areas where her family lived, and they were dependent on toxin-producing diesel generators to light their homes and provide gas.
“I used to stare at the smoke these generators spewed and worry about the harmful chemicals that streamed into our house,” Ms. Haldea said. “I always thought there must be a better energy source than this.”
Ms. Haldea, 44, who lives in London, was the founder and managing partner of Cebile Capital, a private equity firm that was acquired by the investment bank Raymond James in 2021. Her formative years and insight from a good friend helped stoke her interest in SFC, based in Brunnthal, Germany. In 2021, Ms. Haldea became the first female board member and this year was appointed chairwoman; she is also the global head of Private Capital Advisory for Raymond James.
SFC Energy AG produces fuel cells that provide off-grid power with significantly lower carbon emissions than traditional sources such as diesel generators. It operates worldwide and supplies electrical energy to homes, public security and telecommunications companies, large corporations and remote areas that aren’t connected to power grids. Ms. Haldea was interviewed by email and phone. The conversation was edited and condensed.
Where do you see the application of fuel cell technology in the context of global warming?
Fuel cell technology is sustainable, efficient and not prohibitive pricewise. Replacing a single generator with a hydrogen fuel cell [powered by a continuously supplied fuel like hydrogen] can avoid approximately 45 tons of annual emissions. If you use these cells in hundreds and thousands of generators, the change it can make is significant and can help mitigate climate change.
What is SFC Energy’s vision for using these cells to supply power to remote communities?
We aim to bring these cells to remote parts of Canada, the U.S., India and beyond, but we need help from local governments. They need to provide funding to bring our technology to these communities, which will significantly improve their quality of life.
For example, several small, remote village communities in the Himalayas are powered by SFC fuel cells. These villages now have continuous electricity, allowing them to power schools, have an alternate fuel source, be more productive in their jobs and have a much higher standard of living.
In remote locations, solar modules, generators and batteries quickly reach their limits, and interruptions to power can have major consequences for people and infrastructure alike.
In one mountain village high in India, we were told that months could go by without someone visiting to fix a generator or traditional power source. However, with SFC’s fuel cells, the villages had continuous power to get heat throughout those long winter months. We have similar stories from remote parts of Finland and Canada.
What challenges or opportunities do you see in expanding SFC’s fuel cell technology?
Right now, 10,000 SFC cells are in consumer markets globally and thousands more with companies, but we have the opportunity to reach millions more people. However, reaching them relies on improving the availability of these cells through our distribution channels and continuing to build awareness and scale our offering accordingly.
We must also educate consumers about fuel cell technology and its benefits for their lives and the environment.
Can you tell us what initiatives you’ve implemented since joining the board?
Two achievements stand out: Our board helped drive SFC to profitability, which is rare in the clean energy world where many companies operate at a loss. We also launched in the U.S. and India.
Another key initiative was scaling production to meet increased global demand, and we opened our largest production facility in Cluj, Romania, and another in Swindon, U.K., all in the past year.
We also recently acquired a portfolio of hydrogen fuel cell assets and technology in Denmark and established a presence in that region.
How do you build strong relationships with executives, shareholders, employees and other stakeholders in a fast-evolving company like SFC? And how does your gender help or hinder you?
Building relationships in professional governance contexts requires empathetic leadership, and being a woman has been a benefit in that regard. Providing a listening ear for the C-suite and board members fosters trust. By showing openness and curiosity, I build a foundation of trust that allows for constructive discussions. Like business culture, board culture is essential, and I strive to create an environment of camaraderie, professionalism and introspection.
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