In this episode of The SAF Podcast, we are joined by Jim Stonecipher, Managing Director at EdyMac and former executive at Fulcrum BioEnergy.

With over 30 years of chemical engineering experience, Jim offers a candid, behind-the-scenes look at Fulcrum's high-profile journey—from promise to Chapter 11 bankruptcy. The company's ambitious vision to convert municipal solid waste into sustainable aviation fuel represented a promising technological pathway, but faced numerous obstacles—from COVID-related supply chain disruptions to fundamental issues with technology scale-up and integration.

The conversation explores the delicate balance between technological development and financial reality, revealing how the notorious "valley of death" between pilot demonstration and commercial deployment claims so many promising innovations. Stonecipher advocates for more thorough engineering work early in the development process, describing it as "intelligence gathering" that identifies risks before they become expensive problems.

At the heart of Stonecipher's message is some crucial advice for technology developers: pilot testing must be comprehensive, integrated, and representative of what will be deployed at commercial scale. "The more you can mimic at the pilot scale," he explains, "the higher your chances of success." This lesson, while seemingly straightforward, runs counter to the pressure many startups face to move quickly toward commercialization to satisfy investor timelines.

The conversation also delves into investor relations, capital stack composition, and how early-stage decisions can make or break long-term success. Jim explains that he sees promise in more modular, incremental approaches to scaling SAF production—starting smaller, proving performance, and then replicating successful units rather than attempting massive facilities from the outset. This "Lego-style" approach could help bridge the gap between technological promise and commercial reality.

If you enjoyed this episode check out our previous episode with Smitha Hariharan, Gulfstream here: https://www.buzzsprout.com/2202964/episodes/17362935