CAPITAL
IS LOAD.
UnderLoad reads where an Energy & Resilience scale-up breaks: today, and under the next round, tranche or follow-on.
Diligence asks:
good company?
We ask:
what breaks under load?
The technology works and the plan is signed. What breaks now is the company itself, where its systems meet. A scale-up runs many systems at once, each on its own clock: software ships in sprints, hardware in yearly cycles, policy moves one session at a time. Capital forces the clocks to match, and the break forms where two meet.
Every function hits its own target. No one owns that intersection. Nothing fails, so nothing reports. In Energy & Resilience, too many scale-ups stall with the money already in. We read the break while there is still room to act.
Every function hits its own target. No one owns that intersection. Nothing fails, so nothing reports. In Energy & Resilience, too many scale-ups stall with the money already in. We read the break while there is still room to act.
A new way to read scale-ups
The principle is old: banks, bridges and aircraft are tested against a defined load. Applying it to scale-ups is new. We read the load a company already carries, and the next one.
The system computes. Fixed rules, same inputs, same result: the Capital State, the evidence, and a release plan, gate by gate.
An operator judges. Someone who has run a company like it reads the room and signs the Operator Read. It sits beside the result and can’t move it.
Both sides get the same report.
Diligence protects you from buying the wrong company. The Capital Load Diagnostic protects you from what the right company does under your money. You need both.
The system computes. Fixed rules, same inputs, same result: the Capital State, the evidence, and a release plan, gate by gate.
An operator judges. Someone who has run a company like it reads the room and signs the Operator Read. It sits beside the result and can’t move it.
Both sides get the same report.
Diligence protects you from buying the wrong company. The Capital Load Diagnostic protects you from what the right company does under your money. You need both.
Two seats.
One report.
One report.
If you invest
A stalled position, the next tranche, the next round: you get a condition you can act on, not a veto. Where it breaks, who can clear it, and what releases the capital, gate by gate.
If you run the company
Commission it yourself, and the read runs on your timing: before the round, not after the bridge. No one is rated: the read shows where the plan breaks, not who failed. Even a Stop names the cause and who can move it. About 3.5 hours per executive, no system access, no new reporting. A tension found early is one you fix on your own terms.
A stalled position, the next tranche, the next round: you get a condition you can act on, not a veto. Where it breaks, who can clear it, and what releases the capital, gate by gate.
If you run the company
Commission it yourself, and the read runs on your timing: before the round, not after the bridge. No one is rated: the read shows where the plan breaks, not who failed. Even a Stop names the cause and who can move it. About 3.5 hours per executive, no system access, no new reporting. A tension found early is one you fix on your own terms.
READ EARLY,
AND YOU CHOOSE.
READ LATE,
AND tHE CLOCK CHOOSES.
AND YOU CHOOSE.
READ LATE,
AND tHE CLOCK CHOOSES.
UNDER
LOAD
How we read what capital does to a company.
New essays ship on UnderLoad — Subscribe →
New essays ship on UnderLoad — Subscribe →
Forty-five minutes with Robert.
We walk you through one full read of a demo company, Series B to D, start to finish. All five demo companies would pass diligence. The reads still differ: one deploys clean, one is a Stop where the lever sits with the investors. You see the actual report.
Either side can commission the read, and both see the same report.
Robert Kellner & Julia Kellner-Long
Co-founders, UnderLoad · Munich
Either side can commission the read, and both see the same report.
Robert Kellner & Julia Kellner-Long
Co-founders, UnderLoad · Munich
Contact
ClimeNow GmbH
Luise-Ullrich-Strasse 20
80636 Munich
Germany
Luise-Ullrich-Strasse 20
80636 Munich
Germany