Why I doubled down on BYD, despite being -20% YTD As a long-term energy transformation investor, road transport electrification is a key portfolio theme. We are still in the early stages of a global EV megatrend. So it was time for a deep-dive on whether BYD is a solid long-term investment... 1/x

The Battery Revolution Part 2: Mobile Batteries (EVs) - The Rise, Fall and Redemption of BYD — Strome Partners

The global EV revolution is inevitable, but is only just getting started. Analysis of BYD's growth strategy to pivot from domestic champion to global EV behemoth.

stromepartners.com

To understand the future evolution of global energy, look at changes in energy investment The global clean/fossil investment ratio is evolving through three distinct phases: 2015-20: Equalisation (reached 1:1) 2021-25: Divergence (approached 2:1) 2026-35E: Transformation (reaching 4:1)

Investment changes, as an excellent recent @iea.org graphic shows, reveal the destiny of the future energy system We recut the data to highlight how growth in some energy investment is outpacing others Battery storage spend CAGR was ~50% over 2015-26E, followed by electrification spend on ~10%

International Energy Agency@iea.org · 3mo ago

Global energy spending is on track to reach $3.4 trillion in 2026 Around $2.2 trillion of this is set to go to grids, storage, low-emissions fuels, nuclear, renewables, efficiency & electrification And about $1.2 trillion goes to oil, natural gas & coal: iea.li/3QUYR09

The stationary storage revolution has already come a long way: annual installations rose 10x (in GW) from 2021 to 2025. But the real growth is yet to come. We see cumulative capacity expanding 12x by 2035 (in GWh) as costs keep falling, modular deployability rises and average duration extends.

Did DJT & friends just deliver peak oil? Most probably, yes. IEA now forecasts 2026 global oil demand to contract by 80 kbd, vs 760 kbd increase forecast a year ago. A historic inflection: after 170 years, the oil system is going ex-growth. Thank you for your attention to this matter.

International Energy Agency@iea.org · 5mo ago

Global oil demand is set to fall by 1.5 million barrels a day in the 2nd quarter of 2026 versus the same period last year. This would be the sharpest decline since Covid-19 lockdowns dramatically reduced fuel consumption. Our freely available Oil Market Report 👉 iea.li/4trDJgb

The energy revolution is accelerating. How to participate: 1. Electrify your life wherever possible (EV, HP) 2. Localise your supply (solar) 3. Build in flexibility (battery) 4. Optimise your demand (TOU tariffs, smart appliances, insulation...)

Ember@ember-energy.org · 6mo ago

🚨 NEW | Emerging economies skipped fixed-line phone networks entirely. Now the same leapfrog is happening in energy – and it's moving faster than most people realise ⚡📱 A thread on the electric fast-track 🧵1/6 ember-energy.org/lat...

Energy transformation is unstoppable. Renewable capacity up 15.5% last year. But renewables are just one part of the fundamental system shift, alongside electrification, supply and demand side flexibility, energy efficiencies...

International Renewable Energy Agency (IRENA)@irena-official.bsky.social · 6mo ago

🔎#Renewables capacity performance 2025: ⚡ 85.6% share of total power capacity expansion. 🌍 Persistent regional disparity ☀️Solar still leads the renewables growth Watch key highlights & see NEW @irena-official.bsky.social report: www.irena.org/Publications...

Today, 1 month into this war, we presented our outlook on how it will accelerate energy transformation around the world. Freely accessible here: shorturl.at/vqrMS 2026-30 is the pivot period between the disintegrating legacy energy order and emergence of its replacement.

Energy markets: strap in for major escalation As we entered 2026, key commodities looked amply supplied The past month has radically changed that. Price rises to date are just the start. More pain is coming, across oil, gas, power, petrol, diesel, jet fuel, LPG, naphtha, fertilisers.......

Just over a week in, this war has, inter alia: - killed ~2000 across region (incl 175 schoolgirls) - replaced Khamenei with... Khamenei - failed to dislodge Iranian regime - sparked a new energy crisis On the plus side, it will certainly accelerate global energy transformation & electrification.

With European gas prices doubling in just 2 days off the back of effective Hormuz closure and the Qatari LNG production pause, we made an initial analysis of the wider energy and financial implications of the war on Iran. www.stromepartners.com/energized-19

Iran War - Energy Implications — Strome Partners

Initial Analysis of Energy Impacts of Iran War, 4 days in

stromepartners.com

By 2030, we expect global wind capacity & generation to grow by ~50% to 2 TW / 4,000 TWh/pa By 2040, wind will overtake gas as world’s 2nd largest power source (#1: solar) even with falling capacity growth rates Energized 18 explores the wind investment case: www.stromepartners.com/energized-18

Our top 5 global energy transformation takeaways for FY2025: 1. Solar: - Installations: 655 GW (+10%) - Cumulative global capacity: 2.85 TW (+30%) - Generation: ~2,800 TWh (tbc) (+~30%) - Share of global generation: 9% (from 1% in 2015) Read more: www.stromepartners.com/energized-16

We have entered the pivotal half decade in energy transformation. By 2030, 7 energy tipping points will change the world forever. Whether you’re an active investor, a pension holder, an energy consumer, or all of these, understanding their impact is vital. www.stromepartners.com/energized-15

"If every air conditioner bought since 2019 had been the most efficient available, the world could have avoided electricity demand growth equivalent to the demand growth from data centres over the same period."

International Energy Agency@iea.org · 11mo ago

Energy Efficiency 2025 is out! It shows global efficiency progress is set to accelerate this year, improving 1.8% compared with just 1% in 2024. This renewed momentum is key for efforts to boost energy security & economic competitiveness. Read more 👉 iea.li/4pi0dh5

We've seen a spectacular recovery in clean energy equities this year: the S&P Global Clean Energy has surged well over 50% since early April, outpacing the wider market boom. Edition 14 of Energized asks if is the first wave of a bigger current: www.stromepartners.com/energized-14

Despite much talk of a slower energy transition, compounding technology disruption is building critical velocity towards systemic tipping points, taking us from an Age of Combustion towards an Age of Conduction. We explored this in Edition 12 of Energized: www.stromepartners.com/energized-12