Climate Pledge Fund

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

Canada-based CarbonCure Technologies uses captured carbon dioxide (CO2) to produce green concrete products. The company’s innovative technology injects captured CO2 into the concrete mix; the reaction forms a nano-sized mineral (calcium carbonate) that makes the concrete stronger.Key customers and partnershipsCarbonCure has partnered with numerous concrete producers and is licensed to over 800 concrete plants across 35 countries. CarbonCure concrete was also deployed at several high-profile projects including Amazon’s HQ2 building in Virginia and General Motors’ steel plant in Tennessee.In August 2019, CarbonCure entered into a strategic partnership with Linde (a global industrial gas and chemicals company) to expand its geographical reach across Europe, Southeast Asia, and Oceania. In October 2022, CarbonCure entered into a five-year agreement with <a href="https://sp-edge.com/updates/14059">BMO Financial Group</a>, a Canadian financial service provider, to supply carbon credits. CarbonCure has several high-profile investors including Amazon, Breakthrough Energy Ventures, Microsoft, Shopify, Mitsubishi Corporation, and Carbon Direct. In February 2023, the company partnered with <a href="https://www.carbon-direct.com/insights/direct-air-capture-to-concrete-2-2">Heirloom</a>, a DAC company, to build carbon-removing concrete. In November 2023, CarbonCure Technologies partnered with <a href="https://sp-edge.com/updates/24296">Deloitte Canada</a> to provide carbon credits in a multi-year agreement for the latter's climate action strategy and expand CarbonCure’s technology globally.Funding and financialsCarbonCure’s most recent funding was in July 2023, when it raised <a href="https://sp-edge.com/updates/20018">USD 80 million</a> in a venture funding round led by Blue Earth Capital. The proceeds were utilized to scale up the company’s product roadmap and geographical footprint by further expanding its reach to more territories.

Infinium is a developer of low-carbon electrofuels for the transportation industry. Its range of electrofuels includes Infinium eSAF, Infinium eDiesel, and Infinium eNaptha. It provides a drop-in replacement for traditional jet fuel and diesel, which can be used in planes, ships, and truck fleets without the need for change in infrastructure or engine design.The company’s proprietary Infinium Electrofuel technology harvests green hydrogen from renewable energy sources such as wind, solar, and hydroelectric, which is then mixed with CO2 to produce low-carbon alternative fuel.In <a href="https://sp-edge.com/updates/24567">November 2023</a>, Infinifum announced the development of Project Roadrunner, a facility that will convert waste CO2 and renewable power into SAF and other low-carbon fuels. This Power-to-Liquids (PtL) eFuels facility is expected to be the largest of its kind in North America once operational. Following this, in <a href="https://sp-edge.com/updates/27869">March 2024</a>, Infinium unveiled Project Pathfinder, the world's first commercial-scale facility to produce drop-in ready eFuels in Corpus Christi, Texas. The company also operates several other eFuels projects across the US, Europe, the Middle East, Japan, and Australia.Key customers and partnershipsIn September 2022, the company signed an agreement with Amazon to supply the latter’s trucks with electrofuels, sourced from Infinium’s production facility in Texas, which is expected to begin production in 2023. Infinium has been following a collaboration strategy in order to establish clean fuel hubs around the globe and has inked partnerships with energy companies, renewable power providers, and industrial process owners such as Denbury, Reuze, Engie, Mitsubishi Heavy Industries, and Howard Energy Partners. In November 2023, the company signed an offtake agreement for eSAF (synthetic fuel derived from renewable energy) with <a href="https://sp-edge.com/updates/24567">American Airlines</a> to reduce aviation emissions.In <a href="https://sp-edge.com/updates/28553">April 2024</a>, Infinium signed an agreement with a subsidiary of midstream energy company Kinetik Holdings to purchase CO2 captured from Kinetik's processing system for use in the production of eFuels. In <a href="https://sp-edge.com/updates/29388">May 2024</a>, Infinium and SMA Mineral, a Swedish lime and limestone producer, partnered to develop the former’s e-fuels project at the Mo Industripark in Mo i Rana, Norway.

Paebbl is a Sweden-based startup that has developed a patented technology to convert CO2 into a solid, carbon-negative material through an accelerated mineralization process. The company captures CO2 emissions from industrial facilities or directly from the air and combines it with water and ground silicate rock to produce a silica-enriched magnesium carbonate powder. This powder can be used as an inert filler in various applications, including construction materials, paper production, paints, and polymers.By incorporating Paebbl's carbon-negative filler into concrete mixes, the company claims that the CO2 footprint of concrete can be reduced by up to 70%. In December 2023, Paebbl commissioned a new 500-liter batch production unit called “Obelix,” which increased the company's CO2 processing capacity by 100x, enabling the production of up to 100 tons of carbon-storing materials annually. The company’s existing hubs are operational in Helsinki, Rotterdam, and Stockholm and plans to open a new hub in the UK.Key customers and partnershipsIn June 2024, Paebbl announced the mineralization of its first ton of CO2 removal at its pilot plant, converting CO2 into carbon-negative raw materials for the construction industry.

44.01 is an Omani carbon sequestration company operating from its UK office. The company plans to mineralize carbon dioxide (CO2) captured from both flue-gas capture and direct air capture (DAC). According to the company, Oman’s geology suits CO2 storage, with the potential to store trillions of tons of CO2.Key customers and partnershipsIn May 2021, 44.01 collaborated with Climeworks to deploy a DAC and storage plant in the Middle East. 44.01 also partnered with Wakud to power the DAC plant through a bio-diesel-based supply line at night and solar power during the day.In April 2022, 44.01 signed a memorandum of understanding (MoU) with <a href="https://sp-edge.com/updates/9802">Mission Zero Technologies</a>, a British DAC startup, to deploy their first DAC and mineralization project known as “Project Hajar.”In 2023, 44.01 partnered with ADNOC (in <a href="https://sp-edge.com/updates/15909">January</a>) to convert CO2 into rock and with Aircapture (In <a href="https://sp-edge.com/updates/22502">September</a>) to deploy a direct air capture (DAC) and mineralization project in Oman.

Brimstone Energy is a startup manufacturing carbon-negative portland cement and supplementary cementitious materials (SCM) through substituting limestone, which releases CO2 when processed, with calcium silicate rock, which has no embedded CO2. Furthermore, the process creates silica to replace the fly ash found in cement. The latter is normally sourced from coal-fired power plants. Finally, in order to be carbon negative the company uses magnesium rock, a byproduct of the silicate processing, as it will react with CO2 and solidify, thereby absorbing atmospheric CO2.In <a href="https://www.brimstone.com/post/industrial-demonstrations-program-selects-brimstone-for-transformational-189-million-federal-invest">March 2024</a>, the Department of Energy selected Brimstone for a USD 189 million federal award to build the first commercial-scale plant that can produce cement while avoiding 120,000 metric tons of CO2 emissions annually.Key customers and partnershipsBrimstone leads the First Builders initiative, an industry coalition to engage cement companies, architects, structural engineering firms, and concrete companies that want to jointly develop plants or directly buy industrial quantities of cement. Additionally, in April 2022, Brimstone partnered with Amazon’s <a href="https://www.businesswire.com/news/home/20220428005472/en/Brimstone-to-Produce-the-World%E2%80%99s-First-Carbon-Negative-Portland-Cement#:~:text=%E2%80%9CWe%20will%20continue%20to%20invest,%2Dzero%20carbon%20by%202040.%E2%80%9D">Climate Pledge Fund</a> to scale up its operations.

CarbonCapture develops modular units to capture CO2 directly from the atmosphere. The company was incubated at Idealab Studio, along with <a href="https://sp-edge.com/companies/832196">Heliogen</a> and <a href="https://sp-edge.com/companies/698337">Energy Vault</a>. The company uses zeolites for capturing CO2.&nbsp;The company was developing <a href="https://www.businesswire.com/news/home/20220908005446/en/CarbonCapture-Inc.-Announces-Five-Megaton-Direct-Air-Capture-and-Storage-Project-in-Wyoming">Project Bison</a>, a DAC facility in Wyoming, in partnership with carbon storage developer Frontier Carbon Solutions and Twelve. It intended to capture five million tons of CO2 per annum by 2030 once the facility was fully operational. In <a href="https://sp-edge.com/updates/33109">September 2024</a>, CarbonCapture halted the development of Project Bison in order to relocate to another state due to competition for renewable energy from rapidly growing data centers. This has delayed the operationalisation of the project.Key customers and partnershipsIn March 2023, CarbonCapture signed up <a href="https://www.theverge.com/2023/3/22/23651587/microsoft-climate-tech-startup-carboncapture-wyoming">Microsoft</a> to supply carbon removal credits from its Project Bison. In June 2023, the company entered into a five-year carbon removal agreement with <a href="https://www.businesswire.com/news/home/20230621338252/en/">Boston Consulting Group</a> to remove 40,000 tons of CO2. In September 2023, CarbonCapture agreed to provide ~100,000 tons of CO2 removal credits to <a href="https://sp-edge.com/updates/21790">Amazon</a>. In November 2023, the company agreed to supply 45,500 tons of CO2 removal by 2028 for USD 20 million to <a href="https://sp-edge.com/updates/24160">Frontier</a>, an advanced market commitment (AMC) for carbon removal technologies.

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

Molg is a company that develops circular manufacturing processes for electronics and electrical components. Founded in 2021 by Rob Lawson-Shanks and Mark Lyons, Molg has developed robotic microfactories that can autonomously disassemble complex electronic products like laptops, servers, and industrial electronics. These two-meter cube microfactories use robotic arms to precisely harvest recyclable components from devices, maximizing the potential for reuse, remanufacturing, or recycling of valuable materials.&nbsp;The company's technology aims to address the significant issue of electronic waste, with only 22.3% of e-waste being recycled as of 2022. Molg's approach combines robotics and design software to ensure that one product's end becomes another's new beginning. Their process not only reduces environmental impact but also strengthens supply chains by enabling local recovery of critical minerals and precious metals that are often left unrecovered in discarded electronics.&nbsp;In addition to its disassembly technology, Molg works with manufacturers to design electronics with circularity in mind from the outset. The company has developed proprietary software that generates and places computable, bi-directional assembly methods into products, focusing on modular connections that facilitate easier disassembly. This design-for-circularity approach aims to reduce the use of screws and adhesives in favor of more easily separable components.&nbsp;Molg has also created OriginMark, an open standard for device, component, and material traceability. This system enables detailed tracking throughout the product lifecycle, from manufacturing to de-manufacturing, allowing companies to compute valuable data such as total materials, processes, or embodied carbon at various scales.&nbsp;&nbsp;Key customers and partnerships&nbsp;Molg has already installed robotic disassembly microfactories at Sims lifecycle Services and is rolling out to IT Asset Disposition (ITAD) facilities of leading hyperscalers. The company works on circular design with prominent companies such as HP, Dell, and ABB Robotics &amp; Automation Ventures to redesign products for automated recovery of valuable components, remanufacturing, and recycling.&nbsp;In October 2024, ABB Robotics announced a collaboration with Molg to create robotic microfactories specifically for recovering and recycling disused electronic equipment from data center operators. This partnership aims to address the projected rise in global e-waste, expected to reach 75 million tons by 2030.

Redwood Materials was founded by Tesla’s former CTO to focus on e-waste recycling for remanufacturing and reuse. The company uses a proprietary technology to recover elements including cobalt, lithium, nickel, manganese and graphite from old battery cells (from vehicles and consumer electronics), which can be re-used for battery production.The company announced its first energy storage system recycling project&nbsp; in <a href="https://sp-edge.com/updates/23461">November 2023</a> — dismantling and recycling a 4MWh stationary storage substation in Kauai, Hawaii. In <a href="https://www.recyclingtoday.com/news/redwood-materials-launches-pricing-tool-for-ev-batteries/">October 2023</a>, Redwood launched an online tool with advanced tracking and management systems for automotive dismantlers to value and sell recovered EV battery packs directly back to the company.&nbsp;In September 2023, Redwood Materials acquired <a href="https://sp-edge.com/updates/22008">Redux Recycling</a> to accelerate Redwood's expansion into Europe.Key customers and partnershipsThe company partnered with <a href="https://sp-edge.com/updates/5878">Ford </a>in September 2021 to build a closed-loop for battery recycling and create a domestic battery supply chain for EVs in the US. The company partnered with <a href="https://sp-edge.com/updates/11597">Volkswagen</a> Group (Audi’s parent company) in July 2022 and Lyft in <a href="https://sp-edge.com/updates/14863">November 2022</a>, to recycle batteries while expanding its presence in the US.In January 2023, the company partnered with <a href="https://sp-edge.com/updates/15516">Flite</a>, an Australian electric hydrofoil producer, to recycle end-of-life Flitecell e-foil batteries in the US. In April 2023, the company expanded its partnership with Volkswagen to launch a consumer recycling program for rechargeable devices and lithium-ion batteries. During the same period, the company partnered with e-bike manufacturer <a href="https://sp-edge.com/updates/18071">Rad Power Bikes</a> to launch an electric bike battery recycling program.In October 2023, the company partnered with <a href="https://sp-edge.com/updates/22440">Panasonic</a> to extracting high-purity nickel from end-of-life batteries and supplying it to Panasonic Energy, a subsidiary of Panasonic Holdings, by 2028. This partnership is preceded by the agreement to purchase cathode-active materials and copper foil for EV lithium-ion batteries in <a href="https://sp-edge.com/updates/14645">November 2022.</a>In November 2023, the company announced that it would supply cathode materials and copper coils for battery cells produced at Toyota’s North Carolina plant (due to go into production in 2025). This builds on Redwood’s initial partnership with <a href="https://sp-edge.com/updates/11217">Toyota</a> in June 2022, under which the company would refurbish/recycle batteries from hybrid vehicles.Funding and financialsIn August 2023, Redwood Materials raised more than USD 1 billion in a <a href="https://sp-edge.com/updates/21369">Series D funding</a> round to expand its capacity, grow the domestic battery supply chain, and enable its customers to purchase battery materials made in the US for the first time. In <a href="https://sp-edge.com/updates/16272">February 2023</a>, the Department of Energy (DOE) committed a USD 2 billion loan to Redwood Materials to construct and expand its battery recycling facility west of Reno, Nevada.

Glacier is a San Francisco-based developer of AI-based sorting robots. The company’s robots use AI and robotics technology to sort over 30 different item types. The company claims that its robot has proven to be able to pick 45 items in a minute in real recycling facilities. The robots are also stated to cost 60% less than other robots, with a payback period of less than a year compared to the usual period of around 10 years its peers offer. In addition, Glacier notes that its robot requires minimal facility space to install, as the robot is less than half the size of the robots offered by competitors.The company was operating in stealth mode until April 2022, when it unveiled its robotic system making the system available for purchase on a preorder basis. During the time, the company also reported that it installed its first commercial robot at a large recycling facility in California, sorting eight target materials across two conveyor belts simultaneously. Glacier states that it has more installations underway and is planning to scale production to meet demand.In April 2022, the company raised USD 4.5 million in a <a href="https://sp-edge.com/updates/9807">seed </a>funding round led by New Enterprise Associates (NEA) to primarily accelerate the commercial deployment of its AI-based robots.

Hydrogen Economy

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 Sunfire offers systems for renewable hydrogen, syngas, and e-fuel production. Its &ldquo;Hylink&rdquo; high-temperature electrolyzers are based on alkaline and solid oxide electrolyzer cells (SOEC) technologies for hydrogen production. Its alkaline Hylink electrolyzer, with a scalable design, can produce 2,230 normal cubic meters of hydrogen per hour (Nm&sup3;/h), at a gauge pressure of 30 bar (barg), with a power consumption of 4.7 kilowatt hours per normal cubic meter (kWh/Nm&sup3;). Its SOEC system, with a modular design, can produce 750 Nm&sup3;/h hydrogen with a power consumption of 3.6 kWh/Nm&sup3;.
 
 
 In 2014, Sunfire also opened a demonstration Power-to-Liquid (PtL) production plant in Dresden, Germany to produce renewable e-fuels. Also, in June 2020, Sunfire joined forces with a consortium of companies led by Norway-based Norsk e-Fuel to build Europe&rsquo;s first commercial plant for hydrogen-based renewable aviation fuel in Norway. The plant is planned to be operational by 2024.&nbsp;
 
 
 In November 2023, Sunfire announced that it would invest EUR 30 million (USD 32 million) in its Dresden headquarters over the next few years to expand its R&amp;D center, including prototype manufacturing. Earlier that year, Sunfire commenced serial production of electrolyzers, expanding its proven electroplating line and commissioning a 500 MW facility. In December 2023, Sunfire partnered with Fraunhofer IFAM, a non-university institution focused on applied research and the development and qualification of materials for alkaline stacks, to develop an anion exchange membrane (AEM) electrolyzer in the upper double-digit kW range for industrial-scale application.
 
 
 Key customers and partnerships
 
 
 As of June 2021, the German company was involved in four different projects to provide electrolysis solutions. Its partners include Neste, a Finnish provider of oil refining and renewable solutions; 
 <a href="https://sp-edge.com/updates/9403">
 MPREIS
 </a>
 , an Austrian food retail company; Salzgitter, a Germany-based steel manufacturer; Total, a French oil and gas company; and 
 <a href="https://sp-edge.com/updates/12128">
 Uniper
 </a>
 , a Germany-based energy supplier. As of November 2023, Sunfire&rsquo;s electrolyzers have been installed at industrial partners including RWE, Salzgitter AG, and Neste.
 
 
 In partnership with project developer P2X Solutions, Sunfire completed the installation of a pressurized alkaline electrolyzer at Finland's first industrial-scale electrolysis plant in Harjavalta in February 2024, with green hydrogen production expected in 1H 2024. In addition, in August 2023, Sunfire received its first commercial order to supply a 100 MW pressurized alkaline electrolyzer, consisting of ten 10 MW modules and power supply units, to a European refinery. Sunfire is responsible for overseeing the installation and commissioning of the system, which is expected to be operational in early 2026.
 
 
 Sunfire has also made several acquisitions including New Enerday, a German fuel cell manufacturer, in 2018, Industrie Haute Technology (IHT), a Swiss alkaline electrolysis company, in January 2021 and 
 <a href="https://sp-edge.com/updates/7847">
 MTV NT Solingen branch
 </a>
 , a German electroplating specialist, in January 2022.
 
 
 Funding and financials
 
 
 In August 2023, Sunfire received a EUR 169 million (USD 180 million) grant as part of the Important Projects of Common European Interest (IPCEI), reportedly becoming the only German producer of large-scale electrolyzers to receive such support. The funds will be used to establish the first industrial series production of its electrolysis technologies.
 
 
 Prior to this, the company&rsquo;s most recent funding round was in 
 <a href="https://sp-edge.com/updates/11640">
 July 2022
 </a>
 , when it raised an undisclosed investment from Amazon&rsquo;s Climate Pledge Fund. In March 2022, the company raised EUR 86 million (USD 94.9 million) as the 
 <a href="https://sp-edge.com/updates/9366">
 second tranche
 </a>
 of its Series D funding round co-led by Copenhagen Infrastructure Partners (CIP) and Blue Earth Capital. The 
 <a href="https://sp-edge.com/updates/6057">
 first tranche
 
 </a>
 of the company&rsquo;s Series D round was in October 2021 when it raised EUR 109 million (USD 125 million) from a consortium of investors led by Lightrock and Planet First Partners. In January 2022, Sunfire 
 <a href="https://sp-edge.com/updates/7654">
 received a grant
 </a>
 of EUR 60 million (USD 68 million) from the Federal Ministry of Education and Research to lead the H2Giga project. The grant funding was utilized to develop the company&rsquo;s SOEC technology and pressurized alkaline electrolyzers.
 
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Based in the UK and US, ZeroAvia is developing hydrogen-based, zero-emission aviation solutions with an initial focus on 9–19 seat, 300 mile range fixed-wing aircraft for passenger, cargo, and agricultural transport. The company expects to launch its first commercial aircraft by 2025.ZeroAvia also plans to develop four larger and more powerful hydrogen-powered aircraft in the future: 1) a 40–80 seat model with a 700 mile range by 2027, 2) a 100–200 seat model with a 2,000 mile range by 2030, 3) a 200+ seat model with a 2,000 mile range by 2035, and 4) a 200+ seat model with a 5,000 mile range by 2040.The company has received approval from the UK Civil Aviation Authority (CAA) and the US Federal Aviation Administration (FAA) to test its prototype aircraft. Since 2019, the company has completed several test flights in California to evaluate its initial powertrain design. In September 2020, the company tested its prototype aircraft at its research facility in Cranefield, UK, marking the first flight of a commercial aircraft powered by hydrogen fuel cells. In September 2021, ZeroAvia selected Hyzon Motors to supply fuel cell stack systems for two of its prototype aircraft.In <a href="https://sp-edge.com/updates/21059">August 2023</a>, the company reported that it had developed the world's first high-performance compressor capable of supporting up to 900 kW of fuel cell systems for fuel cell-based aircraft propulsion. The company plans to begin certification testing of the compressor in 2024 and then integrate it into its first two hydrogen-electric engines. In <a href="https://sp-edge.com/updates/28887">April 2024</a>, ZeroAvia reported plans to offer several of its key components for hydrogen-electric engines to other aviation companies and also opened a propulsion center of excellence at Paine Field in Everett near Seattle.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/25829">January 2024</a>, ZeroAvia received a conditional order from MEHAIR for up to 20 ZA600 engines.In <a href="https://sp-edge.com/updates/6210">October 2021</a>, ZeroAvia signed a memorandum of understanding (MoU) with MHI RJ Aviation Group (MHIRJ), a subsidiary of Mitsubishi Heavy Industries, to develop hydrogen-electric propulsion technology for regional jet applications. The company also partnered with <a href="https://sp-edge.com/updates/6253">Alaska Airlines</a> and Royal Schiphol Group (a Dutch airport operator) to develop hydrogen-powered aircraft. ZeroAvia <a href="https://sp-edge.com/updates/11794">collaborated</a> with Edmonton International Airport (EIA), to develop hydrogen infrastructure at Canadian airport sites. Other partners include <a href="https://sp-edge.com/updates/6563">ASL Aviation, HAL, Rose Cay</a>, <a href="https://sp-edge.com/updates/7357">De Havilland Canada</a>, <a href="https://sp-edge.com/updates/9558">ZEV Station</a>, <a href="https://sp-edge.com/updates/10328">Shell</a>, <a href="https://sp-edge.com/updates/11092">Otto Aviation</a>, <a href="https://sp-edge.com/updates/11718">Ravn Alaska</a>, <a href="https://sp-edge.com/updates/12072">American Airlines</a>, <a href="https://sp-edge.com/updates/11837">The Red Sea Development Company</a> and <a href="https://sp-edge.com/updates/13428">Textron Aviation</a>.In October 2022, ZeroAvia <a href="https://sp-edge.com/updates/13663">acquired</a> <a href="https://sp-edge.com/companies/685851">HyPoint</a>, a provider of next-generation hydrogen fuel cells for air transportation. The acquisition was announced on the heels of ZeroAvia’s agreement with PowerCell, a Swedish developer of hydrogen fuel cell stacks and systems, to supply 5,000 low-temperature proton exchange membrane (LTPEM) fuel cell stacks with deliveries beginning in 2024, following a memorandum of understanding (MoU) signed between ZeroAvia and PowerCell in <a href="https://sp-edge.com/updates/11675">July 2022</a>. In May 2023, the company announced that it was exploring the establishment of a hydrogen production and refueling facility at the Birmingham Airport (BHX). In <a href="https://sp-edge.com/updates/21486">August 2023</a>, ZeroAvia partnered with the Abu Dhabi Future Energy Company (Masdar) to explore the production and supply of hydrogen at key locations. In <a href="https://sp-edge.com/updates/24444">November 2023</a>, ZeroAvia partnered with Ecojet to convert upto 70 of their aircraft to hydrogen-electric power using ZeroAvia's technologies. During the same <a href="https://sp-edge.com/updates/24076">month</a>, the company partnered with Japan Airlines and JAL Engineering to explore the development of hydrogen-electric engines to operate on regional routes.In <a href="https://sp-edge.com/updates/25441">January 2024</a>, ZeroAvia partnered with ScottishPower to provide a low-carbon hydrogen supply at key airport locations. In the same <a href="https://sp-edge.com/updates/25828">month</a>, the company signed a MoU with Verne to explore opportunities for the use of cryo-compressed hydrogen (CcH2) on board aircraft and for CcH2 refueling from gaseous hydrogen (GH2) and liquid hydrogen (LH2) sources. In <a href="https://sp-edge.com/updates/26466">February 2024</a>, ZeroAiva partnered with flyv to explore the use of ZeroAvia’s hydrogen-electric engines in flyv's operations. That same <a href="https://sp-edge.com/updates/27217">month</a>, the company partnered with the UK Civil Aviation Authority as part of the Hydrogen Challenge Sandbox to increase regulatory readiness, reduce risk of failure, and improve collaboration in the deployment of hydrogen propulsion technologies and fuels. in <a href="https://sp-edge.com/updates/29295">April 2024</a>, ZeroAvia partnered with FEAM Aero to explore how FEAM Aero’s 50+ locations can provide maintenance, repair, and operations services for companies using ZeroAvia’s technology.Funding and FinancialsZeroAvia’s most recent funding was in <a href="https://sp-edge.com/updates/25830">January 2024</a>, when the company secured USD 3.25 million from the California Energy Commission's Gas R&amp;D Program to develop a first-of-its-kind mobile liquid hydrogen (LH2) fueling truck for heavy-duty applications.Previously, in <a href="https://sp-edge.com/updates/24443">November 2023</a>, the company raised USD 116 million in a Series C funding round co-led by Airbus, Barclays Sustainable Impact Capital, and NEOM Investment Fund (NIF). The company intended to use the funds toward the certification of its first engines and further R&amp;D to improve its propulsion technology for larger aircraft. In <a href="https://sp-edge.com/updates/23314">September 2023</a>, ZeroAvia completed an undisclosed funding round that was led by Airbus, Barclays Sustainable Impact Capital, and NEOM. The company intended to use the funds to advance the certification of its first hydrogen-electric engine, the “ZA600.” In <a href="https://sp-edge.com/updates/11735">July 2022</a>, ZeroAvia raised USD 30 million in the second tranche of its Series B funding round led by existing investor International Airlines Group (IAG).

Electric Hydrogen (EH2) develops electrolyzer technologies that split water into hydrogen and oxygen, powered by renewable energy to produce green hydrogen. The company’s patented high-throughput electrolyzer technology as well as its manufacturing, and pilot project deployment are focused on heavy emitters such as the steel production, mining, and agriculture.In May 2023, the company announced the location of its first factory in Devens, Massachusetts, which will have an annual manufacturing capacity of 1.2 GW, with electrolyzer production beginning in Q1 2024.Key customers and partnershipsIn September 2023, EH2 partnered with New Fortress Energy, an energy infrastructure company, to supply EH2’s 100 MW electrolyzer system to NFE’s green hydrogen project in Texas. First hydrogen production is expected in Q4 2024 with full commercial operation in 2025. The site and facility are scalable to 200 MW in the future.In October 2021, Electric Hydrogen signed a three-year agreement with the National Renewable Energy Laboratory (NREL) to develop proton exchange membrane (PEM) electrolysis systems.Funding and financialsElectric Hydrogen’s most recent funding was in <a href="https://sp-edge.com/updates/29354">May 2024</a>, when the company secured USD 100 million in corporate credit financing. The funding was led by HSBC and will be used to support the manufacturing and deployment of its 100 MW electrolyzer plants. Prior to this in <a href="https://sp-edge.com/updates/28230">April 2024</a>, the company secured USD 18.3 million in funding in the form of a transferable tax credit from the Department of Energy to expand production capacity at the company’s gigafactory in Devens, Massachusetts. In <a href="https://sp-edge.com/updates/27615">March 2024</a>, Electric Hydrogen was awarded a USD 46.3 million grant from the Department of Energy to accelerate technology advancements at the gigafactory in Devens, Massachusetts. During the same <a href="https://sp-edge.com/updates/27414">month</a>, the company raised USD 50 million in equipment funding from Trinity Capital to upscale the manufacturing capabilities of its gigafactory in Devens, Massachusetts.Prior to this, in <a href="https://sp-edge.com/updates/25721">October 2023</a>, when the company secured USD 380 million in a Series C funding round led by Fortescue, Fifth Wall, and Energy Impact Partners. Electric Hydrogen intended to use the funds to expedite manufacturing and deployment to meet high customer demand. Prior to this in <a href="https://sp-edge.com/companies/1422455#:~:text=the%20company%20raised-,USD%20198%20million,-in%20a%20Series">June 2022</a>, the company raised USD 198 million in a Series B funding round led by Fifth Wall Climate Tech. The funds were used to scale up the company’s electrolyzer technology and to produce clean hydrogen in large-scale industrial and infrastructure projects. Previously in June 2021, the company raised USD 24 million in a Series A funding round led by Breakthrough Energy Ventures.

Electrifying passenger and commercial travel

EV Economy

<div>
 
 Resilient Power Systems (RPS) develop solid-state plug-and-play EV fast charging systems. According to the company, these self-contained 15kV units can charge up to 20 EVs simultaneously and can be installed within a day.&nbsp;
 
 
 
 
 The units are adaptable to various power inputs, including solar, batteries, or generators, which minimizes conversion losses while its small form factor reduces space requirements. Further, these units claim to provide 4x more charging capacity than their predecessors, while providing vehicle-to-grid (V2G), and microgrid capability in the same unit.
 
 
 
 
 RPS holds four US patents with three more in the pipeline for its solid-state technology.
 
 
 
 
 Funding and financials
 
 
 
 The company&rsquo;s last funding round was in October 2021, when it raised USD 5 million in a seed funding round led by Energy Transition Ventures, with participation from Amazon's Climate Pledge Fund and GS Futures. The funds were to be used for its pilot program, as well as sales and marketing expansion efforts prior to commercializing its energy route platform.
 
</div>

<div>
 
 India-based ION Energy provides battery management system (BMS) hardware and battery intelligence software solutions. The company&rsquo;s &ldquo;Maxwell&rdquo; BMS optimizes lithium-battery use in electric two and three-wheelers, passenger and commercial EVs, industrial EVs, and stationary battery energy storage systems to improve efficiency, safety, and longevity of batteries. The company&rsquo;s battery simulation software Altergo leverages data science and machine learning to extract data from batteries and to mirror its performance on a digital platform for remote monitoring and predictive analysis.
 
 
 As of June 2021, the company had deployed over 60,000 Maxwell units for more than 75 mobility and energy storage customers across 15 countries including India, France, Spain, and the US. Altergo also focused on helping owners and operators of battery fleets to improve the operational efficiency of their assets after deployment. It partnered with the US energy storage developer esVolta to deploy the software across its entire portfolio of battery storage systems totaling 581 MWh.&nbsp;
 
 
 In June 2021, the company raised USD 3.6 million in pre-Series A funding to expand its team, invest in product development, and grow its software business in North America and Europe. 
 
 
 
</div>

<div>
 
 Rivian develops both passenger and commercial EVs. The company&rsquo;s portfolio includes an electric SUV (R1S) and an electric pickup truck (R1T). R1S has a range of 316 miles and is offered at a base price of USD 78,000; R1T has a range of 289&ndash;352 miles depending on drivetrain and a payload of 11,000 lbs with a base price of USD 73,500. Rivian started R1T deliveries in September 2021 and R1S in December 2021. In October 2023, R1S with a &ldquo;Max Pack&rdquo; battery was launched offering a range of 400 miles. The R1T with the Max Pack has a range of 410 miles.&nbsp;
 
 
 In 
 <a href="https://sp-edge.com/updates/27394">
 March 2024
 </a>
 , the company launched R2, a midsize electric SUV, and R3, a midsize crossover. The latter also comes in a performance variant known as R3X. The R2 opened reservations, with deliveries expected to begin in the first half of 2026. The R3 and R3X deliveries will begin after the R2.
 
 
 Rivian operates a 150,000 unit-manufacturing facility in Normal, Illinois with an annual production capacity of 215,000 units. The company intends to begin manufacturing its R2 EV at the facility in 2026. In 
 <a href="https://sp-edge.com/updates/18084">
 April 2023
 </a>
 , Rivian announced plans to invest USD 10 million to establish a remanufacturing facility in Kentucky which will focus on remanufacturing critical components such as electrical hardware, drive units, and battery systems.&nbsp;
 
 
 The company also planned to invest around USD 5 billion in a new 400,000-unit factory in Atlanta, Georgia. However, in 
 <a href="https://sp-edge.com/updates/27520">
 March 2024
 </a>
 , Rivian reported plans to indefinitely pause the project as it looks to cut costs following layoffs that took place in February 2024.
 
 
 &nbsp;In 
 <a href="https://sp-edge.com/updates/26992">
 March 2024
 </a>
 , Rivian reported plans to expand access to its EV charger network to non-Rivian EVs in 2H 2024.
 
 
 &nbsp;
 Key customers and partnerships
 
 
 In September 2019, Rivian collaborated with Amazon to develop an electric delivery van (EDV). As part of this, Amazon ordered 100,000 EDV units globally to be delivered by 2030, with Amazon having exclusive rights to the vehicle for the first four years. The initial rollout began in July 2022 in over a dozen cities and is expected to spread to over 100 cities by the end of the year.&nbsp; EDVs supplied to Amazon will be complemented by FleetOS, Rivian&rsquo;s proprietary fleet management platform with a recurring monthly subscription fee.&nbsp;
 
 
 Rivian also announced a collaboration with 
 <a href="https://sp-edge.com/updates/12908">
 Mercedes-Benz Vans
 </a>
 in September 2022 to manufacture electric vans in Europe. However, in 
 <a href="https://sp-edge.com/updates/15350">
 December 2022
 </a>
 , Rivian announced that the JV will be paused and that the company will instead focus on its customers and existing commercial business in an effort to become cash flow positive in its US operations.
 
 
 In 
 <a href="https://sp-edge.com/updates/19666">
 June 2023
 </a>
 , Rivian, partnered with Tesla to provide its customers with access to Tesla&rsquo;s &ldquo;Supercharger&rdquo; charging network in the US and Canada, starting in 2024. During the same month, the company acquired 
 <a href="https://sp-edge.com/updates/19616">
 Iternio
 </a>
 , a Sweden-based developer of EV route planning apps, with plans to integrate Iternio&rsquo;s technology into Rivian&rsquo;s electric pickups and sport utility vehicles. In December 2023, Rivian partnered with AT&amp;T, where the latter agreed to pilot Rivian&rsquo;s EVs in its fleet from 2024 onwards and became the exclusive connectivity provider for all Rivian vehicles in the US and Canada.&nbsp;
 
 
 In March 2024, the company partnered with JBPCO to integrate Rivian&rsquo;s chassis with Morgan Olson's C250e. In April 2024, Rivian formed a global partnership with MEVCO (Mining Electric Vehicle Company) to provide EVs for mining, mining services, and mining equipment industries.
 
 
 Funding and financials
 
 
 Rivian&rsquo;s latest funding was in May 2024, when the company received a USD 827 million incentive package from the State of Illinois Department of Commerce &amp; Economic Opportunity. The company intended to use the funds to expand operations at its manufacturing plant in Normal, Illinois. Prior to this, in 
 <a href="https://sp-edge.com/updates/25099">
 October 2023
 </a>
 , Rivian generated USD 1.5 billion through the issuance of green convertible senior notes due 2030. The company intended to use the earnings from the note issuance to finance and invest in new or recently completed projects. In March 2023, the company announced plans to raise 
 <a href="https://sp-edge.com/updates/17001">
 USD 1.3 billion
 </a>
 through the sale of green convertible notes. The company intended to use these funds to develop and launch its R2 EVs, which are expected to be ready by 2026.
 
 
 In May 2022, Rivian received a 
 <a href="https://sp-edge.com/updates/10075">
 USD 1.5 billion
 </a>
 incentive package in state and local incentives and tax credits for its new vehicle assembly facility in Georgia.&nbsp;
 
 
 Rivian was listed on NASDAQ in November 2021. The company raised USD 12 billion at the IPO&mdash;the largest by a pure-play EV company. The company generated USD 4.4 billion in revenue and had an operating profit of USD 5.7 billion in FY2023.
 
</div>

Moving industry forward with next-gen advancements in energy storage and transmission

Alternative Energy

Infinium is a developer of low-carbon electrofuels for the transportation industry. Its range of electrofuels includes Infinium eSAF, Infinium eDiesel, and Infinium eNaptha. It provides a drop-in replacement for traditional jet fuel and diesel, which can be used in planes, ships, and truck fleets without the need for change in infrastructure or engine design.The company’s proprietary Infinium Electrofuel technology harvests green hydrogen from renewable energy sources such as wind, solar, and hydroelectric, which is then mixed with CO2 to produce low-carbon alternative fuel.In <a href="https://sp-edge.com/updates/24567">November 2023</a>, Infinifum announced the development of Project Roadrunner, a facility that will convert waste CO2 and renewable power into SAF and other low-carbon fuels. This Power-to-Liquids (PtL) eFuels facility is expected to be the largest of its kind in North America once operational. Following this, in <a href="https://sp-edge.com/updates/27870">March 2024</a>, Infinium unveiled Project Pathfinder, the world's first commercial-scale facility to produce drop-in ready eFuels in Corpus Christi, Texas. The company also operates several other eFuels projects across the US, Europe, the Middle East, Japan, and Australia.&nbsp;Key customers and partnershipsInfinium has been following a collaboration strategy in order to establish clean fuel hubs around the globe and has inked partnerships with energy companies, renewable power providers, and industrial process owners such as Denbury, Reuze, Engie, Mitsubishi Heavy Industries, and Howard Energy Partners.In <a href="https://sp-edge.com/updates/18850">May 2023</a>, Infinium signed an MoU with Navigator where the latter agreed to deliver 600,000 tons per annum of biogenic CO2 from its Heartland Greenway system to a facility that will be developed by Infinium to produce electrofuels. In <a href="https://sp-edge.com/updates/24567">November 2023</a>, the company signed an offtake agreement for eSAF (synthetic fuel derived from renewable energy) with American Airlines to reduce aviation emissions. In <a href="https://sp-edge.com/updates/25495">January 2024</a>, the company signed an MOU with Mo Industrial Park, an industrial zone in Northern Norway, to build the first eFuels production facility in Mo i Rana, Norway with a daily capacity to produce 2,000 barrels of eFuels. During the same month, the company partnered with Amogy to explore opportunities to integrate technologies and develop commercial applications across the eFuels and green ammonia value chain.In <a href="https://sp-edge.com/updates/28573">April 2024</a>, Infinium signed an agreement with a subsidiary of midstream energy company Kinetik Holdings to purchase CO2 captured from Kinetik's processing system for use in the production of eFuels. In <a href="https://sp-edge.com/updates/29388">May 2024</a>, Infinium and SMA Mineral, a Swedish lime and limestone producer, partnered to develop the former’s e-fuels project at the Mo Industripark in Mo i Rana, Norway.Funding and financialsIn <a href="https://sp-edge.com/updates/24567">November 2023</a>, Infinium secured USD 75 million in funding from Breakthrough Energy Catalyst. The capital will be used to develop the company’s conversion of waste CO2 into sustainable eFuels at a commercial scale in West Texas, US.In October 2022, SK Trading International, a wholly owned subsidiary of SK Innovation (part of South Korean conglomerate SK Group), made an undisclosed investment in Infinium to support the acceleration of its global commercial developments.In October 2021, the company raised USD 69 million in a funding round co-led by Amazon’s Climate Pledge Fund and a subsidiary of NextEra Energy Resources, LLC with additional investments coming in from AP Ventures LLP, 8090 Partners, Mitsubishi Heavy Industries, and Pavilion Capital. The funding was to be used for the development of large-scale facilities with the capacity to produce 40 million gallons of electrofuels annually.

Moxion Power manufactures and rents mobile energy storage solutions, providing temporary power-as-a-service solutions to customers in construction, electrified transportation, events and entertainment, and telecommunications. The company’s technology, powered by AI and software, and its vertically integrated business model offer an alternative to fossil-fuel-burning generators. Moxion Power claims that storing energy from the grid in a battery is around 7x cheaper than converting diesel fuel into electricity in commercial generators.&nbsp;The company offers two products: the MP-75 offers 75 kW of power and over 600 kWh of energy storage while the MP-30/200 offers a maximum continuous output of 30 kW and 200 kWh of energy storage. Furthermore, multiple Moxion units can be combined and operated at once to increase power and energy capacity.In May 2023, Moxion reported plans to build a 205,000 sq.ft manufacturing plant in California with an annual production capacity of 7 GWh.Key customers and partnershipsMoxion Power has signed letters of intent with several large construction firms, including Turner, Swinerton, Webcor, and DPR, and EV fleet operators in the US.In December 2022 Amazon began leasing Moxion units on multiple sets at Amazon Studios. Following this in March 2023, Sunbelt Rentals ordered over 600 MP-75/600 mobile battery units for its operations.Funding and financialsIn September 2022, Moxion Power raised USD 100 million in a <a href="https://sp-edge.com/updates/13425">Series B funding round</a> led by Tamarack Global. The funds will be used to scale production at Moxion’s first two domestic manufacturing facilities in California; one of which is currently under construction and the second which is to be commissioned in 2024.Prior to this, in May 2021, Moxion Power raised USD 10 million in a <a href="https://sp-edge.com/updates/3461">Series A funding round</a> led by Energy Impact Partners. The company used the proceeds to scale its manufacturing operations, launch its first rental location, and tend to its backlog of customer orders. Other investors in Moxion include the Amazon Climate Pledge Fund, the Microsoft Climate Innovation Fund, Sunbelt Rentals, Enterprise Holdings, and Marubeni Ventures.

New technology allows individuals and organizations to become carbon intelligent

Carbon Management Software

<div>
 
 Pachama allows businesses to reduce their carbon footprint by purchasing verified carbon credits online. Pachama lists a range of reforestation projects on its platform (across North America and South America) for businesses to purchase carbon credits from. In October 2022, the company launched 
 <a href="https://sp-edge.com/updates/14016">
 &ldquo;Pachama Originals,&rdquo;
 </a>
 to allow companies to invest in creating their own forests to remove their carbon footprint. In June 2023, Pachama launched &ldquo;Project Evaluation Criteria 2.1,&rdquo; the world&rsquo;s first AI-based tool for the evaluation of forest carbon projects.
 
 
 
 
 As of February 2024, Pachama has worked with 46 forest project developers in 14 countries, protected more than one million hectares of land, and reviewed more than 150 forest projects worldwide. The cost of carbon credits for individuals ranges around USD 17&ndash;23 per ton of CO2 equivalent, depending on location and project type.
 
 
 &nbsp;
 
 
 Key customers and partnerships&nbsp;
 
 
 
 
 In April 2022, Pachama partnered with Flexport.org to offer carbon credits from a portfolio of forest projects. In September 2023, Pachama partnered with 
 <a href="https://sp-edge.com/updates/22167">
 Mercado Libre
 </a>
 , an ecommerce company, to expand projects focused on conserving biodiversity in Latin America. In 
 <a href="https://sp-edge.com/updates/23690">
 November 2023
 </a>
 , Pachama partnered with Ducks Unlimited, a nonprofit wetland conservation organization, and PERENfra, a water infrastructure investor, to develop Flyway Forests, a reforestation project in the Lower Mississippi River Valley to sequester 400,000 tons of CO2 over 40 years.&nbsp;
 
 
 
 
 As of February 2024, the company had more than 800 customers, including Salesforce, Microsoft, Nespresso, Airbnb, Netflix, ShipBob, Softbank, Vuori, Flexport 
 and Shopify.
 
 
 
 
 Funding and financials
 
 
 
 
 Pachama&rsquo;s most recent funding was in December 2023, when it raised an additional USD 9 million, in an extended&nbsp; Series B funding round led by T.Capital. The proceeds were directed towards R&amp;D activities of AI applied to geospatial data and the development of new products and services. In 
 <a href="https://sp-edge.com/updates/10236">
 May 2022
 </a>
 , the company raised USD 55 million in its initial Series B round led by Future Positive to support talent acquisition, contact corporate and forest developers, accelerate R&amp;D, create new forest projects, and scale its technology. In April 2021, Pachama raised USD 15 million in a Series A round led by Breakthrough Energy Ventures. Pachama expects to use the proceeds to expand its business and operations teams.&nbsp;
 
</div>

Natural Fertilizers

Founded in 2022, Windfall Bio is a California-based AgriTech company that captures and transforms methane into organic soil nutrients using microbes and digesters. Windfall Bio’s proprietary technology is claimed to enrich natural methane-eating microbes from the soil, allowing customers to transform waste emissions into high-value organic fertilizer that can be used on-site or sold to local organic farms, generating new revenue streams. This living organic fertilizer has potentially better bioavailability and can result in reduced runoff and downstream emissions compared to synthetic ammonia fertilizers.Windfall Bio's process for transforming methane emissions into organic fertilizers and composts involves capturing methane emissions from various sources such as dairy barns, chicken houses, and manure lagoons. These emissions are then fed to digesters filled with methane-eating microbes, which transform the methane into high-purity fertilizers and composts on-site. The company also provides management software tools to help measure and manage the methane-to-soil resource stream, making it easier for farms to utilize this sustainable solution.Funding and financialsWindfall Bio is backed by top-tier firms including Mayfield, UNTITLED, B37 Ventures, Baruch Future Ventures, Bessemer Venture Partners, Breakthrough Energy Ventures, and Cavallo Ventures. The company raised a USD 9 million seed round in March 2023, led by Mayfield and UNTITLED; it plans to use the funding to begin pilot deployments on farms and accelerate research and development activities. In <a href="https://www.esgtoday.com/windfall-bio-raises-28-million-to-scale-methane-eating-microbe-industrial-emissions-solution/">April 2024</a>, the company raised USD 28 million in a series A funding round led by Prelude Ventures with the participation of existing investors, B37 Ventures, Breakthrough Energy Ventures, Mayfield and Amazon’s Climate Pledge Fund, Global Brain, Incite Ventures, and Positive Ventures to support the commercialization of its solution to capture and use methane from emissions-intensive industries. Key competitors: None comparable (Windfall Bio uses methane-eating organisms that capture nitrogen from the air to produce organic fertilizer).

Clean, congestion-free air travel gets liftoff

Passenger eVTOL Aircraft

Based in Vermont, Beta Technologies is an American aviation company that focuses on the development of eVTOL aircraft for urban air mobility (UAM). Its flagship aircraft, the Alia-250, is a five-passenger eVTOL designed for air taxi services, which, according to the company, would help reduce travel time, carbon footprint, and traffic congestion in urban areas. Beta's eVTOLs can fly up to 250 miles at 170 mph on a single charge. Beta Technologies aims to revolutionize transportation by offering fast, safe, and sustainable air travel that is accessible to everyone.&nbsp;The company also manufactures electric fixed wing CX-300, a conventional takeoff and landing (eCTOL) version of its Alia-250 eVTOL aircraft, for which the company was pursuing Federal Aviation Administration (FAA) certification as of March 2023, following orders from three customers. While the certification process for both planes was happening in parallel, the company believed that the traditional design of CX 300 could streamline the certification process, as it could comply with the current FAA regulations for airplanes. Moreover, the data generated during the certification process of CX 300 could be reused for certifying its eVTOL Alia aircraft, which shares the same airframe, batteries, and propulsion system. The company submitted its certification application in November 2022, and it aimed to make the CX300 available to commercial customers in 2025. As of May 2023, it had already obtained military certification for the CX300 aircraft.&nbsp;In&nbsp;<a href="https://sp-edge.com/updates/34178">September 2024</a>, Beta Technologies unveiled its new passenger variant of the ALIA aircraft, which would be launched after the release of the cargo and medical eVTOL. The passenger-focused ALIA aircraft can carry up to five passengers and a pilot, and it includes a cabin with room for carry-on and TSA-secure luggage. The ALIA eVTOL is certified for instrument flight rules (IFR) operations and Flight into Known Icing (FIKI).Beta Technologies was also developing advanced battery technology that would allow its aircraft to fly farther and carry more passengers, which would make UAM more viable as a transportation option. Its electric aircraft charging network is powered by the Charge Cube, which allows safe, fast, and efficient charging of next-generation electric aircraft and ground-based EVs. The company has partnered with airports, FBOs, and OEMs to deploy this technology and facilitate the future of aviation and electric transportation. Beta was building its charging network as of May 2023, with nine electric chargers already accessible to the public online. Moreover, the company had more than 55 sites in the permitting or construction phase and planned to have almost 150 chargers online by 2025.Key customers and partnershipsIn <a href="https://www.beta.team/timeline/">2017 </a>, the BETA team developed its first eVTOL, AVA-XC, in partnership with United Therapeutics. In <a href="https://www.newswire.ca/news-releases/cae-and-beta-technologies-announce-strategic-partnership-for-pilot-and-maintenance-training-program-845501026.html">2021 </a>, the company entered a strategic partnership with CAE to design and develop its pilot and maintenance technician training program for the ALIA eVTOL aircraft. In <a href="https://www.beta.team/timeline/">2022 </a>, BETA partnered with the US Army to collaborate on the development of eVTOL aircraft for defense purposes, making it the first eVTOL developer to have partnerships with two branches of the US military. Later, that same year, BETA was chosen by <a href="https://www.futureflight.aero/news-article/2022-12-14/air-new-zealand-names-four-partners-nextgen-aircraft-program">Air New Zealand </a>as one of the four electric aircraft companies to partner with for its Mission NextGen sustainable aircraft development program. The program's goal is to have the next generation of aircraft flying in New Zealand by 2026. The company has a diverse customer mix for its eCTOL and eVTOL aircraft, which includes <a href="https://www.futureflight.aero/news-article/2021-04-07/ups-commits-operating-betas-alia-evtol-aircraft-package-deliveries">UPS </a>, <a href="https://vermontbiz.com/news/2021/april/13/beta-inks-deal-secure-first-20-passenger-electric-vertical-aircraft-eva-blade">Blade </a>, <a href="https://finance.yahoo.com/news/beta-technologies-lands-orders-fixed-120225823.html">United Therapeutics </a>, US Air Force, <a href="https://finance.yahoo.com/news/beta-technologies-lands-orders-fixed-120225823.html">Bristow Group </a>, and <a href="https://finance.yahoo.com/news/beta-technologies-lands-orders-fixed-120225823.html">Air New Zealand </a>.

Conservation Tech

Pachama is a California-based carbon credit platform that allows businesses to reduce carbon footprint by purchasing verified carbon credits online. The company also measures the carbon stored in forests with precision, monitors forest growth over time, and detects early signs of deforestation or fire using machine-learning models that integrate satellite data, field plots, and 3D airborne LiDAR imaging. It lists a range of reforestation projects in North and South America on its platform and evaluates each project to ensure quality, improve project design, and track project performance. In October 2022, the company launched “ <a href="https://sp-edge.com/updates/14016">Pachama Originals </a>” to encourage investments from companies in creating their own forests to remove their carbon footprint.As of August 2023, Pachama has worked with 46 forest project developers in 15 countries, protected more than one million hectares of land, and reviewed more than 150 forest projects worldwide. The cost of carbon credits for individuals ranges around USD 17–23 per metric ton of CO2 equivalent, depending on location and project type.Key customers and partnerships• In April 2022, Pachama partnered with Flexport.org to offer carbon credits from a portfolio of forest projects, such as Wu'erqihan Forest Management Project, Borneo Peatlands, and Central Kalimantan Peatlands.• In April 2020, the company partnered with Planet to validate and monitor forest conservation and reforestation carbon projects across North and South America.• In November 2022, the company partnered with Verra to pilot a digital measurement, reporting, and verification (DMRV) platform that uses remote sensing to measure forest carbon.• In <a href="https://sp-edge.com/updates/23689">November 2023</a>, Pachama partnered with Ducks Unlimited, a nonprofit wetland conservation organization, and PERENfra, a water infrastructure investor, to develop Flyway Forests, a reforestation project that connects small landowners in the Lower Mississippi River Valley.As of August 2023, the company had more than 800 customers, including Salesforce, Microsoft, Nespresso, Airbnb, Netflix, ShipBob, Softbank, Vuori, and Flexport.

Optimizing the future of energy with software solutions

Energy Optimization & Management Software

ION Energy, founded in 2016, is a Mumbai-based company that develops advanced battery management and intelligence platforms for lithium-ion batteries used in electric vehicles and energy storage systems. The company's primary focus is on improving battery life and performance through the use of artificial intelligence and machine learning technologies. ION Energy's flagship product is Edison Analytics, a cloud-hosted battery lifecycle management platform that leverages battery data, software analytics, and AI to remotely monitor, predict, and improve battery life. The platform utilizes the "Trinity of Battery Life" approach, which considers the entity, environment, and experience factors that impact battery life. ION Energy's solutions include cross-functional battery management systems (BMS) such as FS-CT, FS-LT, and FS-XT, designed for various applications ranging from light electric vehicles to grid storage. In May 2022, ION Energy sold its battery management system subsidiary, Maxwell Energy Systems, to Endurance Technologies for USD 40 million. The deal involved Endurance initially taking a 51% stake and acquiring the remaining business over the following five years.

X-energy is a developer of advanced modular nuclear reactors and fuel technology for clean energy generation. The company manufactures fuel that seals uranium particles in a protective coating, making meltdown impossible. It develops safe and efficient reactors and proprietary fuel to deliver reliable, zero-carbon, affordable energy to people worldwide. The simplified, modular, and high-temperature gas reactor design expands applications and markets for the deployment of nuclear technology.

MOLG develops and provides digital and automation tools to manage services and processes of businesses from the manufacturing industry. It is based in Virginia, USA.

Paebbl is a carbon storage company that sells carbon-negative building materials. It captures carbon from industrial facilities or from the air itself to create a carbon-negative material for construction, which accounts for 38% of global carbon emissions. Pol Knops, Jane Walerud, Marta Sjögren, and Andreas Saari founded Paebbl in 2021.

14Trees is dedicated to accelerating the provision of affordable housing in Africa. They take construction innovations from the lab to the field, building affordable housing solutions with our bank & contractor partners.

ZeroAvia provides hydrogen-electric propulsion systems designed to eliminate aviation emissions while maintaining operational efficiency. The company focuses on scalable technologies that can retrofit existing aircraft and support sustainable aviation. By partnering with various stakeholders, ZeroAvia aims to revolutionize the aviation industry with cleaner, more efficient flight options.

4.01 is a company that specializes in eliminating CO2 from the atmosphere by mineralizing it in peridotite, a type of rock that naturally absorbs CO2. We eliminate CO2 by turning it into rock, and removing it from the atmosphere safely, efficiently, and permanently.

Subeca is an end-to-end water management platform that leverages dual network technology to provide 24-7 utility control. The company was founded in 2014 and is headquartered in Dallas, Texas.

Verne is a hydrogen optimized for heavy transport that allows vehicle operators to maintain existing operations and meet zero-emission targets.

Windfall Bio has developed a sustainable solution to capture and transform climate-harming methane emissions into organic fertilizer, addressing both an underappreciated contributor to climate change as well as the negative environmental impacts associated with the overuse of synthetic fertilizer. Windfall’s nature-based solution harnesses methane-eating microbes to transform methane from any source into valuable outputs, creating a rare win-win-win scenario for the planet, producers, and consumers. The company’s solution allows industries such as agriculture, oil and gas, and waste management to reduce their methane footprint while operating more efficiently and improving their profitability and environmental impact. Founded in 2022 and based in San Mateo, CA, Windfall Bio is venture-backed by top-tier firms including Amazon’s Climate Pledge Fund, B37 Ventures, Baruch Future Ventures, Bessemer Venture Partners, Breakthrough Energy Ventures, Cavallo Ventures, Global Brain (through its Norinchukin Innovation Fund L.P.), Incite Ventures, MCJ Collective, Mayfield, Positive Ventures, Prelude Ventures, and UNTITLED (a fund backed by the Tetra Laval family). To learn more about how Windfall Bio turns a climate and business woe into a windfall, visit www.windfall.bio.

CarbonCapture is a climate tech company that develops direct air capture (DAC) machines to remove CO2 directly from the atmosphere. The company works to reverse climate change by making machines that leverage innovative molecular sieves, low-cost renewable energy, and tunable purpose-built systems to remove CO2 from the atmosphere at scale cost-effectively.

Sunfire develops and manufactures systems for renewable industrial gas and fuel production. These substitutes for mineral oil and natural gas, known as e-Gas, e-Fuel or e-Chemicals, replace fossil fuels in existing infrastructures. The solid oxide cells (SOCs) used for the conversion process are also used as generators to provide electricity and heat. Sunfire’s vision is to make regenerative energy from sources such as wind farms, hydropower plants, and photovoltaic systems available wherever and whenever it is needed — not just when the wind is blowing, the waves are crashing or the sun is shining.

Hippo Harvest develops an agriculture technology to help scale sustainable agriculture. It was founded in 2019 and is based in Half Moon Bay, California.

Koloma is a geologic hydrogen company that leverages its technology, proprietary data, and human capital advantages to identify and commercialize geologic hydrogen resources. The company creates and commercializes data-driven approaches to energy transition resource development solutions that help reduce global carbon emissions, allowing businesses to lower their carbon footprint and combat climate change.

Electric Hydrogen (EH2) is a deep decarbonization company building low-cost, high-efficiency, fossil-free hydrogen systems. Industrial sectors like ammonia and steel production account for a third of global GHGs and will require fossil-free hydrogen at cost parity to eliminate CO2 emissions. Electric Hydrogen is rethinking electrolysis from the ground up to compete with dirty hydrogen on cost and scale. The company's technology brings hydrogen solutions to industry, infrastructure, freight and beyond. The experience of Electric Hydrogen's leadership team at revolutionary clean energy companies like Tesla and First Solar makes EH2 a qualified hydrogen company to break through today’s barriers of efficiency and cost to make measurable progress toward a zero-emission industrial sector in this decade.

CarbonCure Technologies creates, develops, and licenses solutions that consume waste CO2 to make better concrete. It spurs the market shift towards affordable green concrete, by enabling concrete manufacturers to convert waste CO2 into solid minerals, locked away as a solid within concrete during manufacturing. It is a green building technology company currently serving concrete product manufacturers in the US and Canada. It offers concrete producers the ability to manufacture green concrete products without compromising on either quality or price. CarbonCure is a retrofit innovation that repurposes CO2 gas from large final emitters as a feedstock in concrete plants. The gas is permanently converted into embedded solid mineral carbonates that yield material, environmental, and production advantages. By enabling concrete manufacturers to consume CO2 into concrete products during manufacturing, the technology differentiates an otherwise traditional commodity concrete product, while achieving superior material performance characteristics. In addition to technology, CarbonCure provides demand-pull marketing and environmental reporting/certification services to reinforce its customers’ exclusive competitive positioning. The technology is licensed at a very low-CAPEX to concrete producers, generating a recurring revenue stream. CarbonCure Technologies was founded in 2007 and is headquartered in Halifax, Nova Scotia.

Glacier is the creator of the first affordable, high-performing, and space-efficient AI-enabled robot for recycling. The company was founded in 2019 and is headquartered in San Francisco, California, United States.

Genecis is an early-stage organic waste processing startup that uses biotechnology to convert waste into biodegradable plastics and other high-value materials. It converts organic waste into PHA (Polyhydroxyalkanoate), a biodegradable, compostable, and non-toxic polymer that can be tuned to replace a wide variety of traditional plastics. PHA can be used for single-use plastics, clothing and textiles, automotive interiors, medical tools and products, and food contact applications.

Forum Mobility offers zero-emission trucks and charges a single monthly fee. Charging stations open at night and throughout the day near ports and key drayage routes. Purchase and lease options for new electric heavy-duty vehicles that are cost-effective. Access to a network of convenient, safe, and secure places that allow you to free up space at your facility.

Moxion Power develops zero-emission generators and off-road equipment to support industries. Moxion Power offers temporary mobile power units which run on electric power for charging and coupled with automatic swapping functionality, enabling clients from the construction industry, events and entertainment, utilities, EV fleet operators, and government agencies to get their temporary energy needs met in an eco-friendly manner.

Turntide specializes in developing sustainable technologies that drive down energy consumption and operating costs in buildings, agriculture, and electric transport, boosting bottom lines and accelerating a global path to 100% renewable energy. It has developed an efficient electric motor system, based on revolutionary switched reluctance technology, managed by advanced cloud software. Its goal is to eliminate the 25% of global electricity consumption that is wasted by legacy electric motors, thus accelerating the world’s transition from fossil fuels and leaving them in the ground where they belong. The company was founded in 2013 and is headquartered in Sunnyvale, California.

Ambient Photonics is a low light energy harvesting PV cells for smart home, consumer electronics, and IoT devices. The proliferation of connected devices promises to revolutionize consumer, commercial and industrial applications with greater convenience, lower operational costs and data-driven performance improvements. Already consumers have fallen in love with smart home conveniences, while many businesses have begun to reap the benefits of connected device driven efficiency gains such as electronic shelf labels and occupancy sensors. Giga scale applications for these technologies are around the corner: the potential exists for billions of wireless sensors to be installed during the coming decade, with nearly half located inside buildings. However, the challenge of reliably and affordably powering these devices has continued to limit IoT viability at scale. Connected electronics require continuous power, which until now has meant batteries that must be periodically replaced or recharged. Legacy photovoltaic technologies like amorphous silicon cells long used on solar calculators and childrens toys don’t yield sufficient power in the real-world, low light operational conditions for most IoT sensors. At the same time, the exorbitant price tag for high performance, low-light PV technologies like gallium arsenide cells has made them suitable only for space satellite and research applications, not mass-market electronics. Ambient has solved both the low power density and high cost problems of legacy low light PV technologies and created the world’s most powerful low light energy harvesting photovoltaic cells - making endless power for IoT electronics a reality for the first time.

Pachama harnesses AI and satellite data to empower companies to confidently invest in nature. Using the latest technological advances, Pachama delivers continuous insight into how forests sequester carbon, protect wildlife and benefit local communities. These insights enable leading companies to find the world’s best projects and track their impact over time while also helping land stewards earn an income with tools to develop carbon projects and secure funds.

Brimstone developed a deeply decarbonized process to make ordinary portland cement and another key concrete ingredient, supplementary cementitious material. The Brimstone Process uses carbon-free calcium silicate rock instead of limestone to deliver a product that is identical to conventional materials and cost-competitive at scale.

Infinium offers an electrofuels solution to decarbonize the transportation sector using today’s infrastructure. Infinium’s Electrofuels is a net-zero carbon alternative to existing liquid fuels that can immediately ''drop-in'' and be used in plane, ship, and truck fleets.

Resilient Power Systems provides power converters such as DCFC supercharging stations in a box and renewable H2 energy power converters. The company is developing products to accelerate the deployment of EV charging systems everywhere, they deliver packages to customers, and its technology has the potential to change the delivery of packages. Resilient Power's commercial applications provide EV charger-to-grid technology that is radically efficient. When it comes to municipal, residential development, retail, hospitality, or other applications where time and space are limited, Resilient's line of advanced, solid-state power stations is the answer. Its ultra-compact EV charging depots connect directly to the existing distribution grid, allowing clients to build EV fleets and public charging stations in days rather than months, reducing costly and disruptive site construction. When Resilient's line of high-voltage power electronics is added to the electric power grid, it improves grid efficiency and reliability.

CMC Spa is a privately held company that designs, manufactures and supports the most innovative and disruptive technology for the mailing, graphic arts, ecommerce and logistics industry. the company has focused on strategies to retain customers becoming their sole supplier for technology, service, parts and professional technical training. CMC has always been on track to timely respond to the ever-changing market requirements with creative design engineering and bespoke solutions. With the ecommerce surge reshaping the parcel industry, today CMC is helping retailers and logistics company to optimise their fulfilment process and deliver sustainable, strong, highly personalised and safe boxes through the much acclaimed and multi award winning CMC 3D right sizing packaging technology.

Redwood Materials creates a circular supply chain to drive down the environmental footprint and cost of lithium-ion batteries and the electric vehicles and sustainable energy storage systems they power. Founded by JB Straubel, the Nevada-based company is offering large-scale sources of domestic anode and cathode materials produced from recycled batteries. Redwood receives ~10 GWh of end-of-life batteries annually for recycling, which are then refined and remanufactured into critical battery materials. The company plans to ramp production of anode and cathode components in the U.S. to 100 GWh annually by 2025, enough to produce more than one million electric vehicles a year.

Rivian is an automotive technology company that develops products and services to advance the shift to sustainable mobility. The company creates solutions that redefine traditional automotive economics and remove the pain points of conventional ownership. It also manufactures autonomous electric vehicles intended to offer a comfortable and eco-friendly driving experience.

ION Energy is accelerating Earth's transition to an all-electric planet.    With a cutting-edge battery management system, advanced analytics software and artificial intelligence-powered platform, ION is enabling electric vehicle and energy storage space providers to unlock the power of data to make faster and smarter decisions.    ION is empowering organizations with the flexibility, independence, and autonomy to buy ready-to-deploy BMS platforms or build custom zero-downtime BMS models. Their versatility and adaptability have helped them to continually emerge as the ideal battery technology partner for OEMs and battery pack manufacturers.

Beta Technologies designs and develops electric aircraft including advanced flight control and electric propulsion systems, with a focus on clean aviation technology. Beta designs a self-sufficient eVTOL aircraft ecosystem that satisfies the needs of humans, embraces the laws of nature, and works in harmony with the planet. Beta Technologies simplifies and amplifies access to the vertical dimension of mobility.

In June 2020, Amazon announced The Climate Pledge Fund to support the development of sustainable and decarbonizing technologies and services that will enable Amazon and other companies to meet the goals set by The Climate Pledge. This dedicated investment program—with an initial $2 billion in funding—will invest in visionary companies whose products and solutions will facilitate the transition to a low-carbon economy.

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