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Update on Venture Capital Investments in Clean Technology
Insight
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Updated August 15, 2022
Check out this week's VC investments in companies and startups in the energy space!
Alex Airala
Darcy Partners
Energy Transition
Power & Utilities
Asset Management & Digitization
Carbon
Distributed Energy Resources
Hydrogen
Low Carbon Fuels
New Energies
Other
Renewables & Energy Storage
Transportation Electrification
Find below a list of VC deals done on the past week:
- Aurora Hydrogen developed Turquoise Hydrogen technology through methane pyrolysis. Aurora raised $10m in Series A funding from Energy Innovation Capital led, Williams, Shell Ventures, Chevron Technology Ventures and the George Kaiser Family Foundation.
- Beacon Power Services is a provider of energy management software and analytics for utilities and mini grid operators across Africa, and has raised $2.7m in seed funding from Seedstars Africa Ventures.
- Descartes Labs developed deep learning algorithm that ingests, and automatically refines massive geospatial data sets, had a majority stake acquisition from the private equity firm Antarctica Capital.
- Econic Technologies developer of catalyst technologies that reduces the energy requirements allowing CO2 to be turned into polymers, raised $12.6m in Series D funding from ING Sustainable Investments, GC Ventures, and CM Venture Capital.
- Exponent Energy is a start-up focused on developing fast charging technology for electric vehicles. Exponent raised funding from the Pawan Munjal Family Trust.
- Hysata is developing a new type of hydrogen electrolyser. Their electrolysers use electricity to split water into hydrogen and oxygen, bringing $2/kg green hydrogen. They raised $29m in Series A funding from Virescent Ventures, Vestas Ventures, Kiko Ventures, IP Group Australia, Hostplus, and Bluescope Steel.
- Li Industries, a company focused on developing lithium-ion battery recycling technologies to improve the overall lifecycle sustainability of lithium-ion batteries, raised $7m in Series A funding from Khosla Ventures, Xerox Ventures and Shell Ventures.
- Lightyear is a solar-based electric car company developing an automotive platform. Lightyear has raised funding in a corporate round from Koenigsegg Automobile.
- LiveEO provider of a full-stack vegetation management solution for utility-operators, raised $19.5m from MMC Ventures, the European Commission, Investitionsbank Berlin, DvH Ventures, Helen Ventures, Matterwave Ventures, Motu Ventures, Segenia Capital and Hannover Digital Investments.
- Node.energy, SaaS solution provider for the planning and the management of decentralized energy systems, raised $7m from BitStone Capital, High-Tech Grunderfonds, Helen Ventures, BonVenture, and 10x Founders.
- Orange EV a manufacturer of innovative, heavy-duty, electric vehicle (EV) truck solutions, raised $35m in funding from S2G Ventures and CC Industries.
- QLM Technology developer of gas imaging cameras combining LiDAR, spectroscopy and quantum technology, raised $12m in Series A funding from Schlumberger, Green Angel Syndicate, Enterprise100 Syndicate, Development Bank of Wales, Newable Ventures, and Quantum Exponential.
- Rhombus Energy developer of a vehicle charging and power conversion hardware coupled with EMS management software was acquired by BorgWarner for $185m.
- Terabase Energy a software platform to reduce soft costs associated with utility-scale development, raised $44m in Series B financing from Breakthrough Energy Ventures, Prelude Ventures, and SJF Ventures.
- TerraPower a Bill Gates-backed nuclear energy company that is developing new technologies including the Natrium Reactor and integrated energy storage, traveling wave reactor design, molten chloride fast reactor design, and other technologies, raised at least $750 million to advance efforts to develop small-scale nuclear reactors, including a major investment from South Korean conglomerate SK Group.
- Utility Global a company that developed a novel Oxide Ion chip solution that can be applied to efficient, clean hydrogen production or directly to power generation. Utility Global raised $25m in Series B funding from Saudi Aramco, Samsung Ventures, Saint-Gobain NOVA, and Ara Partners.
- Vespene Energy a company that converts methane waste into electricity, raised $4.3M in Seed funding from Polychain Capital.
- WiTricity Corporation a startup working on the development and implementation of magnetic resonance technology across passenger and commercial vehicles, raised $63m from Siemens AG, Japan Energy Fund, Mirae Asset Capital, Stage One, Airwaves Wireless Electricity, and Delta Electronics.
- ZeroAvia a company that is developing a hydrogen electric powertrains to replace traditional aviation engines with an environment friendly solutions, raised $30m in Series B funding from NEOM, International Airlines Group, Barclays Sustainable and Impact Banking, and AENU.
See you next week to learn more about where VC's money is flowing!
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