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Alternative Energy

24M Technologies is a Massachusetts Institute of Technology (MIT) spin-off that developed a proprietary SemiSolid cell manufacturing process and platform that mixes the electrolyte with active materials before forming the cell (unlike conventional lithium-ion batteries where the electrolyte is separated from active materials). Conventional lithium-ion battery cells have a significant amount of non-charge-carrying supporting metals and plastics while involving capital-intensive manufacturing processes like electrolyte filling and dying. 24M claims that its technology could eliminate over 80% of these inactive materials in battery cells, reducing manufacturing costs. The company also claims that semi-solid batteries made using this process would have a higher energy density—around 350 Wh/kg—compared to around 250 Wh/kg to 270 Wh/kg of the highest-density lithium-ion batteries.In <a href="https://sp-edge.com/updates/23523">October 2023</a>, 24M introduced an Electrode To Pack (ETOP) system. The product directly packages electrodes into the battery pack, eliminating the need for individual cells and modules. The company claims the product provides unparalleled energy density and maximum utilization efficiency at the pack level while reducing costs. Following this, in <a href="https://sp-edge.com/updates/26842">February 2024</a>, the company launched a new electrolyte technology known as "Eternalyte" for lithium-metal batteries. The liquid electrolyte formula will provide notable improvements to the cycle life and rate capability of lithium-metal batteries.Key customers and partnershipsIn June 2019, Kyocera, a Japanese ceramics and electronics company, began the pilot production of 24M’s battery technology to validate its use in residential energy storage systems in the Japanese market. In January 2020, Kyocera rolled out Enerezza, a residential energy storage product line based on 24M’s technology, available in 5.0 kWh, 10.0 kWh, and 15.0 kWh capacities. In August 2021, Lucas TVS, an Indian automotive electrical components company, signed a license and service agreement with 24M Technologies to construct a giga factory in Gummidipundi, India, and expects to begin commercial production in the second half of 2023.&nbsp;In December 2021, 24M Technologies partnered with <a href="https://sp-edge.com/updates/7249">Volkswagen Group</a> to develop electric vehicle (EV) battery cells using its SemiSolid technology. In line with this, in <a href="https://sp-edge.com/updates/7871">January 2022</a>, Volkswagen invested three-digit million US dollars in 24M and now owns a 25% stake in the company. In September 2022, 24M licensed its SemiSolid manufacturing platform to <a href="https://sp-edge.com/updates/13043">Fujifilm Corporation</a>. The latter also invested USD 20 million in 24M, building on the USD 5 million it invested in 2020, to validate the company’s technology.&nbsp;Funding and financialsIn <a href="https://sp-edge.com/updates/15725">January 2023</a>, 24M received a USD 3.2 million grant from the US Department of Energy’s&nbsp;EVs4ALL program to develop low-cost and fast-charging sodium metal batteries with good low-temperature performance. Prior to that in May 2021, 24M raised USD 56.8 million in a Series E funding round led by ITOCHU Corporation. The funds were expected to be used to commercialize the company’s battery technology and expand into grid storage and electric vehicle applications.&nbsp;

Dimensional Energy is a solar-to-fuel startup, producing sustainable aviation fuel (SAF) by utilizing carbon dioxide (CO2) and concentrated solar energy. The company’s innovative reactors convert CO2 into a feedstock chemical, which is further processed into sustainable aviation fuel (SAF) for the aviation sector. The company’s pilot reactor is deployed at Arizona for scaled-up testing.In February 2024, Ampaire successfully completed the first ground test using pure 100% ASTM D7566 SAF produced by Dimensional Energy.Key customers and partnershipsIn June 2022, United Airlines signed a commercial agreement with Dimensional Energy to purchase at ~300 million gallons of SAF over 20 years. In August 2022, Dimensional Energy partnered with Heliogen, to produce SAF from concentrated sunlight and green hydrogen, following the company’s agreement with United Airlines in June 2022 to supply at least 300 million gallons of SAF. In May 2023, the company signed a SAF offtake agreement with <a href="https://sp-edge.com/updates/18856">Boom Supersonic</a>, a commercial airplane manufacturer, to supply up to five million gallons of SAF per annum.Funding and financialsDimensional Energy’s most recent funding was in <a href="https://sp-edge.com/updates/25858">December 2023</a> when the company raised USD 20 million in a Series A financing round led by Envisioning Partners. The company planned to use the funds to construct the world’s first advanced power-to-liquid (PtL) fuels plant in partnership with Svante in Canada. Prior to this, in September 2023, Dimensional raised USD 19.7 million in funding. The company did not disclose how the funds were to be used. Previously in <a href="https://sp-edge.com/companies/786308#:~:text=Partners.%20Previously%20in-,February%202022%2C,-Dimensional%20Energy%20received">February 2022,</a> Dimensional Energy received USD 3.1 million from the US Department of Energy to develop chemical reactors that convert CO2 into a chemical feedstock from 3D printing additive manufacturing systems.In October 2021, the company was awarded USD 2.7 million by the US Department of Energy Solar Technologies Office, to develop sustainable solutions by 2035. The project involves collaborating with Heliogen and Oakridge National Labs to scale up its existing solar reactor to accept 150 kilowatts of concentrated solar power.

Focused Energy is a German-American fusion power startup spun off from the Technical University of Darmstadt. Its technology combines direct-drive laser fuel compression with proton fast ignition to trigger fusion within its power plants and thereby provide energy output for electricity, industrial/district heat, and hydrogen. Aside from the development of the technology, Focused Energy will provide design, build, operating services and licensing of its fusion technology and power plants.The company aims to build a high-repetition laser test facility (consisting of a target fabrication facility and target inserter), which will be used to test new hardware, and prototype systems of foundational technologies to lay the groundwork for constructing a high-gain ignition demonstration facility in the future. This is to be followed by a power plant prototype, which is expected to be built at the beginning of the next decade. By leveraging three decades worth of fusion research, Focused Energy planned to generate electricity by the mid-2030s from the fusion of hydrogen into helium.Key customers and partnershipsFocused Energy has formed several industrial partnerships with material suppliers including Schott, Zeiss, Merck, and Heraeus to aid in the buildout of its pilot plant. In <a href="https://sp-edge.com/updates/20787">August 2023</a>, the company signed a long-term strategic collaboration with Oxford Sigma, a fusion technology company, to accelerate the design and development of its inertial-confinement fusion power station device. In <a href="https://sp-edge.com/updates/23678">November 2023</a>, Focused Energy formed a strategic partnership with Lawrence Livermore National Laboratory (LLNL) to explore isochoric compression target designs for inertial fusion energy.Funding and financialsFocused Energy’s latest funding round was in <a href="https://sp-edge.com/updates/19669">June 2023</a>, when it raised an additional USD 11 million in Series A funding. This brought the total Series A funding round to USD 82 million. The company intended to use the funds to further research and commercialize nuclear fusion as a safe, climate-neutral, and inexhaustible source of energy.

KORE Power is a US-based company that has developed nickel manganese cobalt (NMC) and lithium-ion iron phosphate (LFP) EV batteries and energy storage systems.In 2022, the company began construction of its 6 GWh KOREPlex advanced battery cell manufacturing facility with plans to begin delivering batteries between 2024 and 2025. The facility will have multiple production lines to produce NMC and LFP EV batteries and ESS.Key customers and partnershipsIn March 2022, KORE Power acquired Northern Reliability and launched KORE Solutions, a full-service storage integrator, which will operate as a division of the company. In <a href="https://sp-edge.com/updates/21169">August 2023</a>, KORE signed a master supply agreement with Energy Vault where KORE will supply the latter with batteries from 2025 onwards.Funding and financialsIn <a href="https://sp-edge.com/updates/19360">June 2023</a>, the company received a loan amounting to USD 850 million from the US Department of Energy's Loan Programs Office (LPO) under the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program. The company intended to use the funds for the construction of its 6 GWh KOREPlex advanced battery cell manufacturing facility in Buckeye, Arizona. Prior to this in November 2022, the company raised USD 75 million in a Series A funding round led by Siemens Financial Services. The company planned to use the funds to construct its battery cell factory.

Ocean Power Technologies (OPT) is a NASDAQ-listed public company that develops and sells proprietary systems to generate electricity using ocean wave energy. In its first two decades of operations (1994-2014), OPT focused on utility-scale projects to provide grid-connected wave power. However, since 2015, OPT pivoted to off-grid wave energy applications.OPT’s proprietary PowerBuoy technology generates power using wave energy in remote offshore locations for activities and industries that require remote offshore power such as offshore oil and gas, defense and security, science and research, and communications. OPT offers two flagship offshore energy products: 1) PB3 PowerBuoy, a partially submerged device that generates power from ocean waves, and 2) hybrid PowerBuoy, a hybrid wave-solar solution that generates power from solar panels attached to a floating device.In April 2023, the company reported the successful first ocean test of its increased power wave energy converter buoy, the Mass-On-Spring-Wave-Energy-Converter (MOSWEC) prototype. In <a href="https://sp-edge.com/updates/26683">February 2024</a>, OPT received funding from the Naval Postgraduate School (NPS) in Monterey, California, for a year-long deployment of a PowerBuoy in Monterey Bay.New customers and partnershipsIn December 2020, OPT contracted SeaTrepid International, to deploy a turnkey PB3 PowerBuoy and oceanographic monitoring system off the coast of Chile. In January 2022, OPT partnered with Eco Wave Power Global to leverage complementary technologies and skills to accelerate wave energy projects. In December 2023, OPT secured a USD 6.5 million contract with the US governemnt for multiple maritime domain awareness buoys. In March 2024, OPT partnered with Greensea IQ to develop the next generation of OPT’s Maritime Domain Awareness Solution (MDAS).Funding and financialsIn<a href="https://sp-edge.com/updates/26077"> January 2024</a>, OPT was granted USD 1.2 million from the New Jersey Economic Development Authority to exchange a percentage of its net operating losses and unused research and development (R&amp;D) tax credits in New Jersey for cash. In September 2020, OPT announced that the company has executed a Common Stock Purchase Agreement with Aspire Capital to sell up to USD 12.5 million in common stock over a 30-month period. The cash went toward expanding production, developing new products and services, and other general corporate purposes.

Zap Energy plans to build a compact, low-cost, and scalable fusion reactor using Z-pinch technology. The company’s sheared-flow stabilized (SFS) Z-pinch reactor stabilizes plasma using sheared flows compared to magnetic coils used by conventional Tokamak fusion reactors. An electric current is driven through the flow, creating a magnetic field, which confines and compresses the plasma long enough for fusion reactions to occur.&nbsp;Zap Energy’s reactor builds on work first pioneered by the FuZE team at the University of Washington and Lawrence Livermore National Laboratory. In June 2022, Zap Energy created the <a href="https://sp-edge.com/updates/11271">first plasmas</a> in FuZE-Q. The company claims that its technology is “the least expensive, most compact, most scalable solution with the shortest path to commercially viable fusion”. Zap Energy achieved thermonuclear fusion in 2018 and achieved the first plasmas on its FuZE-Q in May 2023. And as of March 2024, it is focusing on advancing the FuZE-Q.In June 2023, Zap Energy acquired liquidated assets from ICAR, a manufacturer of capacitors and power supply equipment, to support its manufacturing capability in proprietary repetitive pulsed-power technologies.Funding and financialsIn May 2023, Zap was awarded USD 5 million in federal funding from the Department of Energy for its pilot production facility. Prior to this, in <a href="https://sp-edge.com/updates/11271">June 2022</a>, the company raised USD 160 million in a Series C funding round led by Lowercarbon Capital. In May 2021, Zap Energy raised USD 27.5 million in a Series B funding round led by Addition to advance key technologies relating to its fusion reactor. The company previously raised USD 6.5 million in a Series A funding round in July 2020.

Commonwealth Fusion Systems (CFS) is an MIT spinoff that focuses on commercializing fusion energy using revolutionary high-temperature superconducting (HTS) magnets to build smaller and lower-cost tokamak fusion systems. The company aims to manufacture these magnets and is building ‘SPARC’, its net energy fusion machine with MIT’s Plasma Science and Fusion Center. Following this, CFS plans to build a fusion power plant named ARC.In February 2023, CFS opened its new 50-acre campus in Massachusetts, US. This will contain the company’s corporate headquarters, advanced manufacturing facility, and the SPARC facility.Key customers and partnershipsIn July 2022, CFS signed a five-year Collaboration Framework Agreement with the United Kingdom Atomic Energy Authority (UKAEA) to carry out a series of work projects to support the development of fusion energy. In March 2023, CFS signed a framework agreement with Eni to carry out a series of work projects to advance fusion energy.Funding and financialsIn August 2023, CFS was awarded three undisclosed grants by the US Department of Energy’s Innovation Network for Fusion Energy (INFUSE) program to fund research and development projects with the University of California at Berkeley, Princeton Plasma Physics Lab, and University of California at Los Angeles. In <a href="https://sp-edge.com/updates/19658">May 2023</a>, CFS was one of eight companies to receive a total of USD 46 million from the US Department of Energy’s Milestone-based Fusion Development Program to advance design, research and development for fusion power plants.In <a href="https://sp-edge.com/updates/7124">November 2021</a>, CFS raised USD 1.8 billion in a Series B funding round led by Tiger Global Management. The company planned to use the proceeds to build and operate SPARC and commence deployment of ARC.

Type One Energy is a fusion power systems developer that uses advanced additive manufacturing tech and high-field superconducting magnets. The company is developing the stellarator machine STARBLAZER, which uses deuterium and lithium as fuel for its fusion process. The lithium is used to breed tritium and is fused with deuterium creating helium and a neutron by using shaped magnetics to confine hot charged gas along a twisted circular path. According to the company, the stellarator has the potential to reach an infinite fusion energy gain factor (Q), making it more economically viable than other fusion generators.In <a href="https://sp-edge.com/updates/26959">February 2024</a>, Type One reported plans to begin construction of Infinity One, its stellarator fusion prototype machine at the Tennessee Valley Authority's (TVA) Bull Run Fossil Plant in Clinton, Tennessee. Construction is set to begin in 2025. In parallel, it also plans to develop a stellarator risk reduction platform (RRP) over the coming years which will be used as a testbed to validate the viability of several FPP designs.Key customers and partnershipsBacked by a grant from the US Department of Energy ARPA-E BETHE fusion program, Type One collaborated with MIT Plasma Fusion Science Center, Max Planck Institute for Plasma Physics in Germany, and the University of Wisconsin-Madison to develop a demonstration-scale high-temperature superconducting (HTS) stellarator magnet with 3D-printed metal assemblies to support the RRP magnet development. The company also partnered with Oak Ridge Ridge National Laboratory, with the support of a DOE INFUSE grant, to qualify materials developed for fusion applications to be used in additive manufacturing.Funding and financialsIn <a href="https://sp-edge.com/updates/17389">May 2023</a>, Type One raised USD 29 million in a funding round co-led by Breakthrough Energy Ventures, TDK Ventures, and Doral Energy Tech Ventures. The company intended to use the funds to launch its FusionDirect program to commercialize its stellarator fusion technology without needing a large proof-of-concept prototype.Prior to this, in <a href="https://sp-edge.com/updates/17389">March 2023</a>, the company raised USD 29 million in an oversubscribed seed funding round co-led by Breakthrough Energy Ventures, TDK Ventures, and Doral Energy Tech Ventures with participation from Darco, the Grantham Foundation, MILFAM, Orbia Ventures, Shorewind Capital, TRIREC, VAHOCA, and others. The funding was to be funneled toward its FusionDirect program.&nbsp;&nbsp;In <a href="https://sp-edge.com/updates/19658">May 2023</a>, Focused Energy was one of eight companies to receive a total of USD 46 million from the US Department of Energy’s Milestone-based Fusion Development Program to advance designs and research and development for fusion power plants.

<div>
 
 Heliogen focuses on generating electricity and heat using an array of computer-controlled mirrors (heliostats) that collect and concentrate sunlight to generate ultra-high temperatures of around 1,000 &deg;C.&nbsp;
 
 
 Heliogen offers three solutions: 1) HelioHeat uses the company's solar concentration technology in heat-intensive industrial applications such as production of cement, lime, and steel, etc. to reduce the use of fossil fuels to generate heat; 2) HelioPower combines solar concentration with supercritical CO2 turbines to generate electricity to power industrial facilities, data centers, and mining operations; 3) HelioFuel uses solar concentration to produce renewable-hydrogen.&nbsp;
 
 
 As of August 2022, Heliogen had two contracts to develop modules, with aims to contract a third by the end of the year. The company also successfully operates a demonstration site in California. In November 2020, Heliogen received a grant of USD 39 million from the US Department of Energy to develop a supercritical carbon dioxide power cycle that operates using Heliogen&rsquo;s concentrated solar thermal energy. 
 
 
 In October 2021, Heliogen partnered with Woodside Energy, a wholly-owned subsidiary of the leading Australian energy producer Woodside Petroleum, to develop a five-megawatt concentrated solar demonstration facility in California. Construction of the facility is expected to begin in 2022. In May 2022, the project received 
 <a href="https://sp-edge.com/updates/10119">
 USD 50 million
 </a>
 funding from Woodside. In August 2022, the company also partnered with 
 <a href="https://sp-edge.com/updates/12180">
 Dimensional Energy
 </a>
 , to produce SAF from concentrated sunlight and green hydrogen.&nbsp;
 
 
 In October 2022, Heliogen was awarded 
 <a href="https://sp-edge.com/updates/13999">
 USD 4.1 million
 </a>
 by the US Department of Energy Solar Energy Technologies Office, to fund a demonstration project to reduce carbon emissions from cement production. In June 2021 Heliogen raised
 USD 83 million from investors including ArcelorMittal (a Luxembourg-based multinational steel manufacturer), Edison International, Prime Movers Lab, Ocgrow Ventures, A.T. Gekko, and 8090 Partners to accelerate the global deployment of its technology.
 
 
 In December 2021, Heliogen was listed on NYSE through a special purpose acquisition company (SPAC) merger. The company received USD 188 million from the transaction and expects to use the proceeds to scale heliostat manufacturing and R&amp;D activities.
 
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RePurpose Energy develops “second-life” energy storage solutions by utilizing used lithium-ion EV batteries. The company’s second-life battery product, set to launch in 2023, is claimed to have a 1.2 MWh deliverable capacity per 20-foot container and a 7–10 years lifespan with applications across the commercial, industrial, and utility sectors. RePurpose Energy’s demonstration product, consisting of Nissan LEAF battery modules, has been operational since 2019 in conjunction with rooftop solar cells at the Robert Mondavi Institute in Davis, California.RePurpose Energy has also showcased a patent-pending battery fire prevention system suited for both energy storage and EVs. It has developed an AI-based battery testing technology, following an award from the National Science Foundation (NSF). Further, with the support of a USD 3 million grant from the California Energy Commision, the company was developing a solar PV and second-life battery microgrid solution.Key customers and partnershipsThe company has received multiple grants/awards for various energy storage projects and has worked in collaboration with various partners to develop its second-life storage solutions, including Nissan, Faraday Microgrids, PM Grow, EPRI, UC Davis, General Electric, and the San Jose State University, among others.Funding and financialsIn November 2022, RePurpose Energy received a USD 6 million grant from the US Department of Energy. Prior to this, the company was awarded a USD 450,000 grant from The California Sustainable Energy Entrepreneur Development (CalSEED) program.

Thea Energy is a spin-off of Princeton University’s plasma physics lab and develops stellarator technology-based fusion power plants.The company’s Eos system, a neutron source stellarator, is claimed to be the only first-generation fusion system power plant prototype. Eos uses an array of computer-controlled high-temperature superconductor (HTS) planar coils, allowing for dynamic field control and simplified maintenance and operations.Thea Energy aims to scale up Eos and launch the Helios Power Plant by 2030 to begin on-the-grid operations.Key customers and partnershipsIn <a href="https://www.globenewswire.com/en/news-release/2023/07/27/2712179/0/en/Thea-Energy-Selected-for-U-S-Department-of-Energy-Public-Private-Partnership-Award-Through-the-Innovation-Network-for-Fusion-Energy-Program.html">July 2023</a>, Thea Energy partnered with the University of California San Diego to develop a boron-based renewable first wall capable of sufficient heat removal and tritium recovery from stellarator fusion devices.Funding and financialsIn <a href="https://sp-edge.com/updates/26493">Februaryspin-off 2024</a>, Thea Energy raised USD 20 million in a Series A funding round led by Prelude Ventures. The company intended to use funds to construct and operate the company's superconducting planar coil magnet array systems. Prior to this, in <a href="https://sp-edge.com/updates/19658">May 2023</a>, Thea Energy was selected as an awardee of the USD 46 million milestone-based fusion development program. Split among seven companies, this funding covers the first 18 months of a project with future funding contingent on congressional approval and achievement of milestones.

LanzaJet is a LanzaTech spin-off that produces sustainable aviation fuel (SAF) using low-carbon ethanol. The company’s proprietary Alcohol-to-Jet (ATJ) technology uses sustainable ethanol produced from municipal solid waste, agricultural residues, industrial off-gasses, and biomass to produce SAF and renewable diesel.In <a href="https://sp-edge.com/updates/26218">January 2024</a>, the company unveiled its first commercial-scale SAF facility, Freedom Pines Fuels in Soperton, Georgia. This marks the world’s first ATJ facility. The facility is expected to produce 9 million gallons of SAF and 1 million gallons of renewable diesel per annum.Key customers and partnershipsIn <a href="https://www.lanzajet.com/lanzajet-advances-project-speedbird-with-british-airways-and-nova-pangaea-technologies/">November 2022</a>, the company partnered with British Airways and Nova Pangaea Technologies to launch Project Speedbird, an initiative to jointly develop SAF for commercial use in the UK. The project is expected to produce 102 million liters of SAF per annum. In June 2023, LanzaJet signed an <a href="https://sp-edge.com/updates/19670">MoU </a>with Airbus, a multinational aerospace corporation, to develop SAF facilities that will use LanzaJet's ATJ technology. During the same month, LanzaTech and LanzaJet were chosen by Air New Zealand and the New Zealand Ministry for Business, Innovation, and Employment (MBIE) to support a <a href="https://sp-edge.com/updates/19486">study </a>examining the commercial viability and sustainability of domestically producing SAF in New Zealand.Funding and financialsThe company’s most recent funding was in <a href="https://sp-edge.com/updates/27076">February 2024</a>, when it secured USD 30 million in a corporate investment round from Southwest Airlines. In <a href="https://breakthroughenergy.org/news/breakthrough-energy-announces-first-catalyst-project-funding-in-50-million-grant-to-lanzajet/">October 2022</a>, the company received grant funding of USD 50 million from Breakthrough Energy Ventures. In <a href="https://www.cnbc.com/2022/02/01/microsoft-shell-invest-in-lanzajet-sustainable-jet-fuel-start-up.html">January 2022</a>, LanzaJet received USD 50 million in funding from Microsoft Climate Innovation Fund. The company had also received previous investments from Shell and energy and airline companies, alongside a USD 14 million grant from the US DOE. The proceeds were used to support the development of LanzaJet’s Freedom Pines Fuels SAF plant in Georgia, US.

Ocean Renewable Power Company (ORPC) focuses on renewable energy generation using tides and river currents. ORPC’s patented turbine generator unit (TGU) is the core technology component used in all ORPC power systems. ORPC has developed two power generation systems, namely, TidGen and RivGen.&nbsp;The TidGen power system generates electricity from tidal currents and connects directly to existing grids. In 2012, ORPC launched a pilot tidal energy project in Maine, which was the first grid-connected tidal energy project in North America at that time. In 2023, ORPC deployed a single-turbine version of the TidGen Power System at its Cobscook Bay test site in Eastport and Lubec, Maine. The company intends to carry out a full-scale device validation in 2024 to 2025. ORPC also plans to install TidGen devices at other deep-water sites in Alaska’s Cook Inlet, Canada’s Bay of Fundy, Europe, the Philippines and Indonesia.The RivGen power system generates electricity from river currents and connects directly to existing remote community grids. In 2014, ORPC launched its first river energy project, delivering power to the remote Alaskan village of Igiugig. The company is also developing a modular version of its RivGen device. In October 2022, ORPC launched its first RivGen device in Canada at the Seven Sisters Falls, Manitoba.Key customers and partnershipsIn April 2022, ORPC partnered with Matanuska-Susitna Borough to test the RivGen Power System at the Upper Cook Inlet industrial and commercial port facility of Port MacKenzie.In May 2022, ORPC partnered with Millinocket Fabrication &amp; Machine to manufacture the turbine shafts for its products. In July 2022, ORPC partnered with Our Katahdin to test the Modular RivGen power system in Millinocket, Maine. In December 2022, ORPC partnered with Schneider Electric to install microgrid systems that include Schneider Electric’s energy storage and smart microgrid controllers integrated with ORPC’s RivGen Power Systems.In <a href="https://sp-edge.com/updates/23453">October 2023</a>, ORPC signed a contract with Shell Technology’s Marine Renewable Program to provide two RivGen devices for a technology demonstration at a Shell facility on the Lower Mississippi River in 2024.Funding and financials&nbsp;In August 2021, ORPC secured a USD 20 million investment commitment, with an additional USD 5 million second closing later in 2021, from a consortium led by Canadian Shield Capital in alliance with Hatch. The intended to use the funds to finance its growth including the installation of multiple devices in its targeted markets. ORPC also planned to improve its sales and marketing capability, supply chain and engineering expertise, and front office services. Prior to this, the company raised&nbsp; USD 7.5 million in November 2019 to finance marketing and sales efforts.

BladeRunner Energy is a hydropower company offering scalable micro-hydro solutions that generate electricity by harnessing the natural flow of water streams. The BladeRunner consists of only six components—PAX rotor, flexible tether, floating platform, generator, power electronics, and battery—with its proprietary PAX rotor designed to operate without the need for a dam for riverine and marine hydrokinetic (MHK) energy generation. The small form factor of the BladeRunner makes it possible to use the system for various applications including natural water streams as well as man-made structures and vessels. Further, according to the company, the system’s flexible power takeoff configuration allows the generator and power electronics to be fixed above the water stream, which leads to cost reduction and improved reliability.Developed to provide low-cost energy to emerging markets and non-grid-connected remote regions, the company claims the BladeRunner can generate electricity at an average lifetime cost in microgrid settings ranging between USD 0.05 and USD 0.09 per kWh or USD 2,000 per kW.Key customers and partnershipsIn August 2023, Bladerunner partnered with the University of Alaska Fairbanks to demonstrate its hydrokinetic turbine system in a river in Alaska.Funding and financialsIn November 2020, BladeRunner received USD 3.3 million in funding from the US Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E) under its SHARKS program. The funding was used for advancements in BladeRunner systems including new features for low-cost operations and improving LCOE.

NEXT Energy Technologies develops transparent coatings that can be integrated into windows, allowing them to function as solar panels. The company’s technology is enabled by proprietary organic semiconducting materials, similar to ink, used as a coating. NEXT claims that its solution is half the cost of traditional solar panels and has a useful life of 30 years. As of June 2021, the company has yet to commercialize the technology but claims its early partners are testing demonstration units.In June 2022, NEXT completed a Wells Fargo Innovation Incubator (IN2) project that showcased that NEXT’s technology could lower the Solar Heat Gain Coefficient (SHGC) from an otherwise equal window to something below .20, indicating higher energy efficiency. This represented a median source energy savings of ~10% across all locations and a maximum source energy savings of up to 50% in locations such as New Mexico, Texas, and Arizona compared to scenarios for traditional windows.Key customers and partnershipsIn March 2022, NEXT partnered with NSG Group to carry out a joint marketing effort between NSG’s European subsidiary and NEXT. In April 2022, NEXT carried out a demonstration of a PC Prototype Window Wall at the headquarters of its manufacturing and glazing partner Walters &amp; Wolf in Fremont, CA.In January 2023, NEXT installed its first solar windows at Patagonia’s corporate headquarters.Funding and financialsNEXT Energy’s most recent funding event was in April 2023, when the company was awarded a USD 3 million grant from the Realizing Accelerated Manufacturing and Production for Clean Energy Technologies (RAMP) program by the California Energy Commission. The company intended to use the funds to scale up its Low-Rate Initial Production line to assemble window glass coated with NEXT’s solution. Prior to this, in August 2021, the company was awarded a USD 3 million grant by the California Energy Commission to scale up and demonstrate its glass-coating technology.In June 2021 the company raised USD 13.4 million in a Series C round led by lon Blue Square Israel, GEAR Innovation Network, Viracon, and Rincon Advisors. The proceeds were expected to be used toward commercialization, pilot installations, durability testing, and industry certification.

Alder Fuels (formerly Alder Renewables) has developed a proprietary technology that produces sustainable aviation fuel (SAF) through an advanced pyrolysis process that converts biomass from agricultural residues, sustainably sourced wood waste products, and purpose-grown energy crops into refinery-ready biocrude oil.The company's technology involves fractionating fast pyrolysis oil into carbon-negative Alder Renewable Crude (ARC), which can be further processed into renewable fuels and chemicals. Alder is also exploring the use of miscanthus as a feedstock to produce renewable transportation fuels including Alder SAF100. The company claims that SAF produced from miscanthus Alder Renewable Crude (ARC) can reduce greenhouse gas emissions by 110% compared with conventional fossil jet fuel.Key customers and partnershipsIn September 2021, United Airlines Ventures committed to purchase 1.5 billion gallons of SAF from Alder over 20 years. In June 2022, Avfuel also committed to purchase 1 billion gallons of SAF over 20 years. During the same month, Alder partnered with Boeing to support testing and qualification of Alder Fuels' SAF on its airplanes.For the development of Alder’s SAF using miscanthus, the company partnered with Idaho National Lab’s Biomass Feedstock National User Facility to preprocess the harvest. BTG Bioliquids, a commercial fast pyrolysis technology provider, then carried out fast pyrolysis in their pilot plant. Following this, Honeywell refined the ARC into liquid hydrocarbon fuels. Finally, the SAF fuel property testing was completed by Washington State University (WSU).Furthermore, the company's technology has been trialed and tested at the Department of Energy’s National Renewable Energy Laboratory (NREL), with support from the US Defense and Logistics Agency.Funding and financialsAlder’s latest funding was in January 2023, when the company was awarded USD 2 million by the US Department of Energy to complete the engineering design work to establish the first Alder Fuel demonstration facility. The facility is expected to process 120 dry tons of forest residuals per day and produce 3 million gallons of liquid hydrocarbon biofuel annually, of which 2 million gallons are to be SAF.

Viridos (previously Synthetic Genomics), specializes in optimizing microalgae to produce oil for biofuels such as sustainable aviation fuel (SAF) and renewable diesel (RD). In 2017, Viridos announced breakthrough research in a modified algae strain that more than doubled the fuel content without significantly inhibiting growth, which had been a key challenge in the commercial scalability of the technology. In November 2022, the company extracted oil, both with dry and wet processes at an efficiency of over 90%.&nbsp;Viridos uses sunlight and atmospheric CO2 to grow algae in saltwater on marginal land.&nbsp; The company estimates that the productivity of its engineered microalgae will be 20x times greater than any existing terrestrial crop.Viridos grows its algal strains at its California Advanced Algal Facility (CAAF) in an outdoor testbed.Key customers and partnershipsSince 2009, ExxonMobil and Viridos have been in a partnership to jointly develop biofuels from algae. ExxonMobil and Viridos aim to produce around 10,000 barrels of algae biofuel per day by 2025.Funding and financials&nbsp;In March 2023, Viridos raised USD 25 million in a Series A equity funding round led by Breakthrough Energy Ventures. This included a USD 5 million investment from United Airlines through its UAV Sustainable Flight Fund to support the production of SAF. The company intended to its Series A funding to further increase algae oil productivity to reach commercially deployable levels.&nbsp;Prior to this, in January 2023, the company was awarded USD 2 million from the US Department of Energy to scale up its pilot facilities.

EOS Energy Storage (EOS), a Nasdaq-listed producer of next-generation zinc-based long-duration batteries (more specifically, zinc-hybrid cathode batteries) as an alternative to conventional lithium-ion batteries. EOS claims that its flagship solution, EOS Z3 battery, is the first commercially available alternative that is competitive with lithium-ion batteries, both in terms of price and performance. The EOS Z3 battery can be used to stabilize the grid during peak hours and also to manage the intermittent supply of renewable energy solutions. Moreover, EOS claims that materials used in EOS Znyth are derived from non-rare earth and non-conflict minerals that are also fully recyclable.EOS Znyth has a three to 12-hour discharge capability and is modularized to be scaled and configured according to given requirements, allowing EOS Znyth to be used across a variety of applications including large grid-scale energy storage projects, large and small solar projects, commercial or industrial projects, and in-building urban projects.In<a href="https://sp-edge.com/updates/21458"> August 2023</a>, EOS reported plans to develop a USD 500 million long-duration stationary energy storage project, known as American Made Zinc Energy (AMAZE), in Pennsylvania to manufacture the company's Eos Z3 energy storage systems. The company plans to scale its annual production to 8 GWh of storage capacity by 2026.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/7440">December 2021</a>, EOS signed a long-term strategic agreement with TETRA Technologies, a global leader in commercial applications of calcium chloride, to support the production of EOS’ innovative “Znyth” aqueous zinc battery. EOS’s key customers include utilities and industrial companies such as Duke Energy, NextEra Energy, IEP, CHES, Hecate Energy, Shell, Pattern Energy and <a href="https://sp-edge.com/updates/9013">Bridgelink Commodities</a>.In November 2022, EOS partnered with Invinity Energy Systems to provide battery systems to a 60 MWh solar-plus-storage microgrid developed by Indian Energy. In August 2023, EOS partnered with ACRO Automation Systems for the design, development, and implementation of its high output manufacturing lines. In <a href="https://sp-edge.com/updates/22692">September 2023</a>, Dominion Energy Virginia partnered with Form Energy and EOS to carry out a battery storage pilot project that could increase the length of time batteries are able to discharge electricity to the grid.Funding and financialsIn <a href="https://sp-edge.com/updates/25727">September 2023</a>, EOS secured a conditional loan guarantee of up to USD 398.6 million from the Department of Energy. EOS intended to use the funds to expand its manufacturing plant in Turtle Creek, Pennsylvania.Prior to this, in August 2022, EOS received a four-year senior secured term loan facility of <a href="https://sp-edge.com/updates/11994">USD 85 million</a> from Atlas Credit Partners. In April 2022, EOS secured a <a href="https://sp-edge.com/updates/10046">USD 200 million</a> common stock standby equity purchase agreement (SEPA), led by Yorkville Advisors. In July 2021, the company secured USD 100 million in convertible notes from Koch Strategic Platforms, a subsidiary of Koch Investments Group, to support the company’s strategic growth initiatives.EOS was listed on the Nasdaq stock exchange in November 2020. The company reported revenue of USD 16.4 million in FY2023 and operating loss of USD 1522.9 million for the same period.

Blue Biofuels is a US-based company that has developed a patented cellulose-to-sugar (CTS) technology. The technology has near-zero carbon footprint and can convert a range of plant materials (including grasses, forestry products, and agricultural waste like sugarcane bagasse and wheat straw) into sugars and lignin. The sugars are then processed into biofuels, such as ethanol and sustainable aviation fuel (SAF), while the lignin can also be processed into various products.In April 2023, the company announced that it achieved full conversion of cellulose into soluble sugars from king grass feedstock using its pilot reactor.Key customers and partnershipsIn December 2021, Blue Biofuels collaborated with the US Department of Agriculture’s Agricultural Research Service to optimize the yields of Pennisetum hybridum (king grass), which is used as a feedstock in the CTS process. The company also partnered with Vertimass in January 2022 to use the latter’s technology to convert additional volumes of ethanol into renewable jet fuel and other bio-hydrocarbons.In May 2022, Blue Biofuels partnered with K.R. Komarek, where the latter planned to build Blue Biofuels’ CTS prototype machine. In May 2023, the company signed an MoU with World Energy Sustainable Products, where the latter would purchase finished products including ethanol and sustainable aviation fuels from Blue Biofuels.In <a href="https://bluebiofuels.com/blue-biofuels-and-vertimass-forge-partnership-to-start-production-of-sustainable-aviation-fuel/">January 2024</a>, Blue Biofuels partnered with Vertimass to form a JV known VertiBlue Fuels. This JV aims to employ the Vertimass’ proprietary Consolidated Alcohol Deoxygenation and Oligomerization (CADO) technology to produce SAF and renewable propane and butane (rLPG) as co-products from ethanol.Funding and financialsBlue Biofuels’ most recent funding round was in <a href="https://sp-edge.com/updates/20015">July 2023</a> when the company received a USD 206,500 grant from the Department of Energy (DOE) Small Business Innovation Research (SBIR) program. This brought the company's total funding to USD 4.9 million.The company intended to use the funds to continue to scale and optimize its patented CTS process and move closer to commercialization.

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

<div>
 
 UK-based Carbon Clean Solutions (CCS) provides modularized carbon capture solutions for a variety of industries including steel, cement, refinery, waste to energy, and biogas. As of November 2021, CCS had 45+ carbon capture projects around the world, including in the US, Europe, India, and Indonesia. CCS has captured more than one million metric tons of carbon dioxide (CO2) since its inception in 2009.&nbsp;
 
 
 
 
 CCS claims that its next-generation proprietary CCUS technology has a carbon capture rate of over 90%. CCS&rsquo;s modularized and containerized carbon capture solution is reported to be around 10x smaller and around 50% cheaper than traditional open-plant designs. CCS&rsquo;s cost of capture as of November 2021 is estimated to be around USD 40 per metric ton of carbon dioxide. The company expects the cost of capture to further reduce to USD 30 per metric ton in 2022.&nbsp;
 
 
 
 
 In July 2022, CCS 
 <a href="https://sp-edge.com/updates/11742">
 partnered
 </a>
 with Kellogg Brown and Root (KBR), an NYSE-listed engineering solutions company, to collaborate on a front-end engineering design (FEED) contract. The project is planned to be deployed at CEMEX&rsquo;s (a Mexican supplier of building materials) Rudersdorf 
 <a href="https://sp-edge.com/updates/6389">
 cement plant
 </a>
 in Germany.
 
 
 
 
 The company&rsquo;s 
 <a href="https://sp-edge.com/updates/10357">
 most recent
 </a>
 funding was in May 2022, when it raised USD 135 million in a Series C funding round led by Chevron. In August 2021, CCS raised USD 8 million as the third tranche of its Series B funding round from CEMEX and existing investors WAVE Equity Partners, ICOS Capital, and Equinor Ventures. The first tranche of the Series B round of USD 16 million was raised in February 2020, followed by the second tranche of USD 6 million in February 2020. Total funds raised in the Series B round were USD 30 million with the latest round. The funds were to be used to grow its team and expand services to help achieve CCS&rsquo;s cost target of USD 30 per metric ton.&nbsp;&nbsp;
 
</div>

<div>
 
 NovoNutrients produces aquafeeds (referred to as NovoMeal) by utilizing microbes and industrial waste. The company&rsquo;s manufacturing process involves the use of gas fermentation, which blends carbon dioxide (CO2) and hydrogen inside a bioreactor in the presence of microbes, to generate specific products, including alternative protein ingredients.
 
 
 
 
 In September 2020, NovoNutrients announced partnerships with Chevron and Skretting (a Norwegian animal feed producer) to test its technology. The first product sample was shipped to be tested at the Skretting&rsquo;s Aquaculture Research Center during the same month.
 
 
 
 
 The company&rsquo;s most recent funding round was in July 2021 when it raised USD 4.7 million led by Happiness Capital. The proceeds were to be used to complete the company&rsquo;s industrial pilot program&mdash;a 1,000-liter bioreactor&mdash;followed by a 20,000-liter industrial demonstration project.&nbsp;
 
</div>

<div>
 
 LanzaTech has developed the technology to capture carbon dioxide emissions from industrial applications and ferment them using bacteria to produce ethanol, which can be used in industrial chemicals and biofuel production. As of June 2022, LanzaTech held over 1,115 patents, and was in the early stages of commercialization.
 
 
 
 In 2018, LanzaTech partnered with Shougang Group (a leading Chinese iron and steel producer) to develop the world&rsquo;s first commercial facility to convert industrial emissions to ethanol in China. LanzaTech has been exploring several pathways to convert its sustainable ethanol into valuable commercial products, from cleaning products to product packaging to sustainable clothing.&nbsp;
 
 
 
 In June 2020, LanzaTech announced a new venture, LanzaJet, to produce sustainable aviation fuel (SAF) using low carbon intensity ethanol. LanzaTech will initially build a demonstration plant in 
 <a href="https://sp-edge.com/updates/8853">
 Georgia
 </a>
 that can produce around 10 million gallons of aviation fuel per year, which is expected to be completed by 2022. In June 2021, LanzaJet announced the world&rsquo;s first commercial-scale ethanol-SAF production facility in South Wales to produce around 330 million liters of blended SAF per year. The company also plans to deploy a commercial SAF plant in Illinois.
 
 
 
 In 
 <a href="https://sp-edge.com/updates/13690">
 October 2022 
 </a>
 , LanzaTech successfully engineered specialized biocatalysts to directly produce ethylene from CO2 in a continuous process. The company had previously produced ethylene by using ethanol produced from carbon emissions and converting it to ethylene. The company is also using bacteria used in the fermentation process to produce commercial proteins.&nbsp;
 
 
 Key customers and partnerships
 
 
 
 LanzaTech&rsquo;s sustainable ethanol has been used in Swiss company Mibelle&rsquo;s cleaning products, L&rsquo;Oreal&rsquo;s hair product packaging, Unilever's laundry capsules, Coty&rsquo;s fragrance products, and On and Borealis&rsquo;s running shoes. LanzaTech has also partnered with the German chemical company BASF to develop n-octanol at laboratory scale, the carbon transformation startup 
 <a href="https://sp-edge.com/companies/427874">
 Twelve
 </a>
 to develop polypropylene from carbon emissions, Spray Engineering Devices Limited (SED), a leading Indian engineering company, to convert bagasse to ethanol in India and 
 <a href="https://sp-edge.com/updates/9376">
 SHV Energy
 </a>
 , a Netherlands-based renewable energy solutions provider, to develop renewable propane.&nbsp;
 
 
 
 LanzaTech has partnered with Mitsui &amp; Co (a Japanese conglomerate), Suncor Energy (a Canadian oil and gas producer), and All Nippon Airways (the largest airline in Japan) for its LanzaJet venture. &nbsp;In 
 <a href="https://sp-edge.com/updates/14094">
 October 2022
 </a>
 , LanzaTech extended its partnership with Suncor to deploy a demonstration facility that converts waste-based feedstock into ethanol and other chemicals. LanzaTech has also signed a memorandum of understanding (MoU) with Vattenfall (a Swedish utility company), Shell, and Scandinavian Airlines System (SAS) to explore the production of synthetic SAF. 
 
 
 LanzaJet has partnered with 
 <a href="https://sp-edge.com/companies/455517">
 Carbon Engineering
 </a>
 to investigate the feasibility of a commercial facility in the UK to produce more than 100 million liters of SAF per year. LanzaTech 
 <a href="https://sp-edge.com/updates/9296">
 partnered
 </a>
 with Woodside and ReCarbon to examine the feasibility of building a CCU facility in Perth, Australia. In April 2022, LanzaTech also collaborated with Bridgestone Americas for tire recycling.&nbsp; In May 2022, LanzaTech 
 <a href="https://sp-edge.com/updates/10750">
 partnered
 </a>
 with Danone (a French multinational food producer) to produce monoethylene-glycol (MEG) directly from captured carbon emissions, for use in PET bottles and fibers.
 
 
 
 In September 2022, LanzaTech together with 
 <a href="https://sp-edge.com/updates/13090">
 On
 </a>
 , a Swiss shoe manufacturer, launched its first shoe made from carbon emissions, called Cloudprime. LanzaTech also partnered with 
 <a href="https://sp-edge.com/updates/13316">
 Givaudan
 </a>
 , a global cosmetics and fragrance company, to develop sustainable fragrance ingredients from renewable carbon.&nbsp;In October 2022, LanzaTech entered into a funding partnership with 
 <a href="https://sp-edge.com/updates/13521">
 Brookfield Renewable
 </a>
 to build new commercial-scale production plants to transform captured carbon into raw material commodities. During the same month, the company partnered with 
 <a href="https://sp-edge.com/updates/14002">
 Woodside Energy
 </a>
 to design, construct, own, maintain, and operate pilot facilities relating to LanzaTech&rsquo;s proprietary technologies.
 In July 2023, LanzaTech signed a joint agreement with 
 <a href="https://sp-edge.com/updates/20048">
 Technip Energies
 </a>
 , a French engineering and technology company, to produce ethylene from waste carbon.
 
 
 Funding and financials
 
 
 In October 2022, 
 <a href="https://sp-edge.com/updates/13521">
 Brookfield Renewable
 </a>
 announced it will invest an initial USD 500 million in LanzaTech to construct and operate new CCT projects. In the same month, LanzaTech along with its research partners received USD 18.5 million in funding from the 
 <a href="https://sp-edge.com/updates/13602">
 US Department of Energy
 </a>
 for integrating cell-free systems and genome engineering to accelerate biosystems design for carbon-negative biomanufacturing.
 
 In January 2022, LanzaJet secured an investment of USD 50 million from 
 <a href="https://sp-edge.com/updates/8853">
 Microsoft
 </a>
 to deploy its planned SAF plants. In December 2021, the company raised USD 30 million led by 
 <a href="https://sp-edge.com/updates/7281">
 ArcelorMittal
 </a>
 . In May 2021, LanzaTech received USD 4.1 million from the US Department of Energy&rsquo;s (DOE) Advanced Research Projects Agency-Energy (ARPA-E) to improve its existing technology to enable direct conversion of carbon dioxide to ethanol. In July 2021, LanzaTech was also among five other projects to have been selected by the US DOE to receive combined federal funding of over USD 5 million.
 
 
 
 In February 2023, LanzaTech entered into a 
 <a href="https://sp-edge.com/updates/16275">
 SPAC deal
 </a>
 to list on Nasdaq, at valuation of USD 1.8 billion. The company received ~USD 240 million from this transaction including USD 185 million from a common equity PIPE (Private investment in public equity).
 
 
 LanzaTech&rsquo;s revenue was USD 37.3 million in 2022 and net loss for the same period amounted to USD 76.4 million. The company expects its revenue to range between USD 80 - 120 million in 2023, and a positive adjusted EBITDA by 2024.
 
 
 
 
 
</div>

<div>
 
 Carbon America focuses on capturing carbon dioxide (CO2) from ethanol facilities for sequestration. The company finances, builds, owns, and operates carbon capture and sequestration (CCS) systems. The captured carbon is transported via an underground distribution pipeline to a permanent geological storage site, over 4,000 feet underground.&nbsp;&nbsp;
 
 
 
 
 Key customers and partnerships
 
 
 
 
 In 
 <a href="https://www.businesswire.com/news/home/20220512005336/en/Carbon-America-to-Construct-Own-and-Operate-the-First-Two-Commercial-Carbon-Capture-and-Sequestration-Projects-in-Colorado">
 May 2022
 </a>
 , the company announced two agreements with Sterling Ethanol and Yuma Ethanol to develop two commercial CCS projects at Colorado ethanol production facilities to capture 95% of CO2 emissions and to permanently sequester CO2, nearly one mile underground in northeastern Colorado. In 
 <a href="https://www.businesswire.com/news/home/20221004005399/en/Carbon-America-to-Launch-Nebraska%E2%80%99s-First-Commercial-Carbon-Capture-and-Sequestration-Project">
 October 2022
 </a>
 , Carbon America entered into a strategic partnership with chemical producer Bridgeport Ethanol to launch its first commercial CCS project in Nebraska, US. The project was expected to capture and store 175,000 tons of CO2 per annum, with plans to operationalize in 2025.&nbsp;
 In 
 <a href="https://sp-edge.com/updates/18572">
 May 2023
 </a>
 , the company teamed up with Svante to deploy commercial CCUS projects in the US.&nbsp;&nbsp;
 
 
 
 
 
 
 Funding and financials&nbsp;
 
 
 
 
 In December 2021, the company raised USD 20 million in a Series A funding round led by multiple investors. The funds were used to deploy commercial CCS projects and to further scale up its technology.&nbsp;
 
 
 
</div>

<div>
 
 RenewCO2, a spin-out from Rutgers University, converts captured carbon from industrial sites to produce plastic monomers. The company uses its Electrocatalytic Carbon Utilization Technology (eCUT), combined with water and electricity to produce various plastic materials such as monoethylene glycol (MEG), methylglyoxal, and furandiol. These plastics and polymers are used as raw materials to manufacture electronics, appliances, plastic bottles, food containers, textiles, and more. RenewCO2 expects to begin supplying its eCUT electrolysis systems to customers by 2025.
 
 
 
 
 In September 2022, the company raised USD 2 million in a seed funding round led by Energy Transition Ventures. RenewCO2 has also won grants totalling USD 8 million for the commercialisation of its eCUT technology.&nbsp;
 
 
 
</div>

LanzaJet is a LanzaTech spin-off that produces sustainable aviation fuel (SAF) using low-carbon ethanol. The company’s proprietary Alcohol-to-Jet (ATJ) technology uses sustainable ethanol produced from municipal solid waste, agricultural residues, industrial off-gasses, and biomass to produce SAF and renewable diesel.In <a href="https://sp-edge.com/updates/26218">January 2024 </a>, the company unveiled its first commercial-scale SAF facility, Freedom Pines Fuels in Soperton, Georgia. This marks the world’s first ATJ facility. The facility is expected to produce 9 million gallons of SAF and 1 million gallons of renewable diesel per annum.Key customers and partnershipsIn <a href="https://www.lanzajet.com/lanzajet-advances-project-speedbird-with-british-airways-and-nova-pangaea-technologies/">November 2022 </a>, the company partnered with British Airways and Nova Pangaea Technologies to launch Project Speedbird, an initiative to jointly develop SAF for commercial use in the UK. The project is expected to produce 102 million liters of SAF per annum. In June 2023, LanzaJet signed an <a href="https://sp-edge.com/updates/19670">MoU </a>with Airbus, a multinational aerospace corporation, to develop SAF facilities that will use LanzaJet's ATJ technology. During the same month, LanzaTech and LanzaJet were chosen by Air New Zealand and the New Zealand Ministry for Business, Innovation, and Employment (MBIE) to support a <a href="https://sp-edge.com/updates/19486">study </a>examining the commercial viability and sustainability of domestically producing SAF in New Zealand.Funding and financialsThe company’s most recent funding was in <a href="https://sp-edge.com/updates/27076">February 2024 </a>, when it secured USD 30 million in a corporate investment round from Southwest Airlines. In <a href="https://breakthroughenergy.org/news/breakthrough-energy-announces-first-catalyst-project-funding-in-50-million-grant-to-lanzajet/">October 2022 </a>, the company received grant funding of USD 50 million from Breakthrough Energy Ventures. In <a href="https://www.cnbc.com/2022/02/01/microsoft-shell-invest-in-lanzajet-sustainable-jet-fuel-start-up.html">January 2022 </a>, LanzaJet received USD 50 million in funding from Microsoft Climate Innovation Fund. The company had also received previous investments from Shell and energy and airline companies, alongside a USD 14 million grant from the US DOE. The proceeds were used to support the development of LanzaJet’s Freedom Pines Fuels SAF plant in Georgia, US.

AirCapture develops scalable DAC units that could be integrated into customers’ industrial operations to enable a direct supply of CO2 into their production processes. In addition, the company provides carbon-to-product technologies for beverage carbonation, greenhouse farming, and the production of synthetic fuels, concrete, and dry ice. As of April 2022, Aircapture was also conducting engineering studies to geologically sequester CO2.AirCapture manufactures bricks with thousands of small channels and a chemical coating that absorbs CO2. The system then uses low-temperature steam to release the CO2 for processing and storage. Key customers and partnershipsIn December 2021, AirCapture partnered with <a href="https://www.synapse.com/work/aircapture-puts-atmospheric-co2-to-work/">Synapse</a> to optimize its system design, improve key performance metrics, and enhance manufacturability. In June 2022, AirCapture used <a href="https://www.forbes.com/sites/jimvinoski/2022/06/22/aircapture-and-3d-systems-partner-to-make-decarbonizing-our-atmosphere-profitable/?sh=14f30b9834ea">3D Systems</a>’ 3D printing technology to create prototypes of its injection-molded parts. The partnership also enabled AirCapture to explore different surfaces and materials for DAC units.In April 2022, AirCapture partnered with <a href="https://ocochem.com/ocochem-wins-department-of-energy-grant/">OCOchem</a>, a CO2 conversion company, to engineer an integrated CO2 capture and conversion plant at Nutrien’s Kennewick Fertilizer Operations plant in Kennewick, Washington. In March 2023, AirCapture partnered with CarbonBuilt to install its technologies at the <a href="https://www.globenewswire.com/news-release/2023/03/07/2621880/0/en/4-Corners-Carbon-Coalition-Funds-First-of-its-Kind-Project-to-Turn-Air-into-Concrete-at-Scale.html">Block-Lite</a> manufacturing facility in Arizona. In August 2023, the company collaborated with <a href="https://sp-edge.com/updates/21344">8 Rivers</a> to develop the Southeast DAC (SEDAC) hub in Alabama, a carbon capture project using the latter’s calcite technology. In September 2023, AirCapture partnered with <a href="https://sp-edge.com/updates/22502">44.01</a> to deploy a DAC and mineralization project in Oman in late 2024. Funding and financialsThe company’s most recent funding round was in <a href="https://sp-edge.com/updates/21344">August 2023</a>, when it received a grant of USD 20.5 million from the US Department of Energy (DOE) to deploy the SEDAC hub. Previously in <a href="https://ocochem.com/ocochem-wins-department-of-energy-grant/">April 2022</a>, AirCapture received USD 2.9 million from the DOE for the integrated CO2 capture and conversion plant deployment.

C-Crete Technologies is a manufacturing company developing low-carbon cement. The company integrates materials science, nanotechnology, and engineering to invent infrastructure materials with low or negative CO2 footprints. C-Crete uses a low-energy process to convert carbon ore to cementitious binders. Key customers and partnershipsIn July 2023, the company partnered with <a href="https://www.prnewswire.com/news-releases/groundbreaking-cement-free-concrete-made-by-c-crete-technologies-gets-inaugural-pour-in-seattle-building-301879884.html">Heidelberg Materials</a>, a ready-mix concrete company, to deliver the cement-free concrete for C-Crete’s debut pour in a commercial building in Seattle.In <a href="https://www.prnewswire.com/news-releases/c-crete-technologies-awarded-1-5-million-from-arpa-e-to-develop-novel-insulating-systems-for-energy-infrastructure-301321191.html">June 2021</a>, the company was awarded USD 1.5 million from the US Department of Energy’s (US DOE) Advanced Research Projects Agency-Energy (ARPA-E) to provide nanotechnology-enabled fluids for large power transformers (LPTs) in partnership with major utility providers in the US. In <a href="https://ccretetech.com/news/c-crete-technologies-enters-into-a-cooperative-agreement-with-doe/">July 2021</a>, C-Crete Technologies signed a cooperative agreement with the US DOE to develop a new class of building materials made from carbon ore as a substitute for portland cement. Funding and financialsThe company’s latest funding was in <a href="https://sp-edge.com/updates/22360">October 2023</a>, when the company received a grant of USD 2 million from the US DOE to accelerate the development of cement-free concrete. In <a href="https://ccretetech.com/news/u-s-department-of-energy-awards-c-crete-1-million-to-accelerate-the-companys-innovative-work-in-cement-free-concrete/">Septemeber 2023</a>, C-Crete received USD 950,000 from the US DOE to expand the raw material range for its cement-free concrete production.

<div>
 
 Dimensional Energy is a solar-to-fuel startup, producing sustainable aviation fuel (SAF) by utilizing carbon dioxide (CO2) and concentrated solar energy. The company&rsquo;s innovative reactors convert CO2&nbsp; into a feedstock chemical, which is further processed into synthetic jet fuel for the aviation sector. The company&rsquo;s pilot reactor is deployed at Arizona for scaled-up testing.&nbsp;
 
 
 &nbsp;
 
 
 The company plans to install a six-megawatt heliostat field to concentrate sunlight, producing 1,000 gallons of SAF per day at USD 2.70 per gallon by 2023. Dimensional Energy expected to scale up its SAF production to less than USD 1 per gallon by 2025. In August 2022, Dimensional Energy partnered with 
 <a href="https://sp-edge.com/updates/12181">
 Heliogen
 </a>
 , to produce SAF from concentrated sunlight and green hydrogen, following the company&rsquo;s agreement with United Airlines in 
 <a href="https://news.cornell.edu/stories/2022/06/united-airlines-dimensional-energy-reach-green-fuel-pact">
 June 2022 
 </a>
 to supply at least 300 million gallons of SAF. In May 2023, the company signed a SAF offtake agreement with 
 <a href="https://sp-edge.com/updates/18855">
 Boom Supersonic
 </a>
 , a commercial airplane manufacturer, to supply up to five million gallons of SAF per annum.
 
 
 
 
 In October 2021, the company was awarded USD 2.7 million by the US Department of Energy Solar Technologies Office, to develop sustainable solutions by 2035. The project involves collaborating with 
 <a href="https://sp-edge.com/companies/832196">
 Heliogen
 </a>
 and Oakridge National Labs to scale up its existing solar reactor to accept 150 kilowatts of concentrated solar power.
 
</div>

Electrifying passenger and commercial travel

EV Economy

24M Technologies is a Massachusetts Institute of Technology (MIT) spin-off that developed a proprietary SemiSolid cell manufacturing process and platform that mixes the electrolyte with active materials before forming the cell (unlike conventional lithium-ion batteries where the electrolyte is separated from active materials). Conventional lithium-ion battery cells have a significant amount of non-charge-carrying supporting metals and plastics while involving capital-intensive manufacturing processes like electrolyte filling and dying. 24M claims that its technology could eliminate over 80% of these inactive materials in battery cells, reducing manufacturing costs. The company also claims that semi-solid batteries made using this process would have a higher energy density—around 350 Wh/kg—compared to around 250 Wh/kg to 270 Wh/kg of the highest-density lithium-ion batteries.In <a href="https://sp-edge.com/updates/23524">October 2023</a>, 24M introduced an Electrode To Pack (ETOP) system. The product directly packages electrodes into the battery pack, eliminating the need for individual cells and modules. The company claims the product provides unparalleled energy density and maximum utilization efficiency at the pack level while reducing costs. In <a href="https://sp-edge.com/updates/25285">January 2024</a>, 24M launched the 24M Impervio, a new battery separator, to improve battery safety for EVs by preventing fires due to metallic dendrites. Following this, in <a href="https://sp-edge.com/updates/26840">February 2024</a>, the company launched a new electrolyte technology known as "Eternalyte" for lithium-metal batteries. The liquid electrolyte formula will provide notable improvements to the cycle life and rate capability of lithium-metal batteries.Key customers and partnershipsIn December 2021, 24M Technologies partnered with <a href="https://sp-edge.com/updates/7249">Volkswagen Group </a>to develop electric vehicle (EV) battery cells using its SemiSolid technology. In line with this, in <a href="https://sp-edge.com/updates/7871">January 2022</a>, Volkswagen invested three-digit million US dollars in 24M and now owns a 25% stake in the company. In September 2022, 24M licensed its SemiSolid manufacturing platform to <a href="https://sp-edge.com/updates/13043">Fujifilm Corporation</a>. The latter also invested USD 20 million in 24M, building on the USD 5 million it invested in 2020, to validate the company’s technology.In April 2023, 24M was awarded a USD 3.8 million contract from the United States Advanced Battery Consortium LLC (USABC) to leverage its technology to develop lithium-metal cells for electric mobility applications. The batteries required a targeted cost of less than USD 75/kWh and the ability to charge to 80% in 15 minutes or less.Funding and financialsIn <a href="https://sp-edge.com/updates/15725">January 2023</a>, 24M received a USD 3.2 million grant from the US Department of Energy’s EVs4ALL program to develop low-cost and fast-charging sodium metal batteries with good low-temperature performance. Prior to that in May 2021, 24M raised USD 56.8 million in a Series E round led by ITOCHU Corporation. The funds were intended for commercializing the company’s battery technology and expanding into grid storage and EV applications.

Nanoramic Laboratories (Nanoramic) develops nanocarbon-based solutions for energy storage devices. Nanoramic’s flagship product Neocarbonix is a next-generation advancement in lithium-ion battery electrodes. Nanoramic claims that Neocarbonix’s advanced 3D nanoscopic carbon binding structure increases the energy density of batteries by 30% (to 350 Wh/kg compared to existing highest-density batteries of around 250–270 Wh/kg in 2021) while lowering production costs by 20%. The innovative tech also enables batteries to be charged in less than 15 minutes, even in extreme environments. Nanoramic claims that battery manufacturers can utilize Neocarbonix to increase compatibility with the latest anode and cathode materials, such as nickel-rich NMC, silicon-based anodes, and solid-state electrolytes.&nbsp;Nanoramic also offers FastCap, an ultracapacitor for harsh environments, capable of operating in temperatures up to 150 C (302 F) and under conditions of high shock and vibration. This product is available in the market.Key customers and partnershipsIn May 2021, Nanoramic signed a non-binding letter of intent with the German lithium-ion battery and battery materials company UniverCell to collaborate and bring the Neocarbonix electrode technology to full commercialization. The two companies intended to adopt and integrate the electrode technology in UniverCell’s battery products and planned to jointly work toward developing next-generation lithium-ion batteries for mass-commercialization by Q4 2021.&nbsp;In October 2022, Nanoramic signed a Memorandum of Understanding with<a href="https://sp-edge.com/updates/14013"> Avesta Battery &amp; Energy Engineering</a> (ABEE) to collaborate in the future to develop and commercialize advanced Li-ion batteries and also established the intent for a strategic partnership and commercial license of Nanoramic’s Neocarbonix at the Core electrode technology. In April 2023, Nanoramic partnered with<a href="https://sp-edge.com/updates/17848"> General Motors</a> to focus on the joint development and application of Neocarbonix at the Core electrode technology for EV lithium-ion batteries.Funding and financialsNanoramic’s most recent funding was in <a href="https://sp-edge.com/updates/17848">April 2023</a>, when General Motors made an undisclosed investment in the company. Prior to this, in October 2021, it received an undisclosed investment from Fortistar. In May 2019, the company raised USD 8.5 million to commercialize Nanoramic’s FastCAP ultracapacitors.

<div>
 
 Nikola Motor Company develops battery-electric (BEV) and hydrogen fuel cell electric (FCEV) heavy-duty trucks, with plans to develop autonomous trucks in the future. The company&rsquo;s flagship electric semi-truck model Nikola Tre has a range of up to 350 miles. The company offers the option of both leasing and purchasing the truck outright. Nikola also offers an FCEV variant of Nikola Tre and an FCEV-only model Nikola Two.&nbsp;
 
 
 
 
 Nikola started delivering Nikola Tre BEV pilot trucks to customers in December 2021 and began alpha testing the Nikola Tre FCEV model in February 2022. The company commenced series production of Nikola Tre BEVs in March 2022, and delivered 63 trucks by Q3 2022, with plans to produce 255&ndash;305 Nikola Tre BEVs during the year.
 
 
 Nikola also acquired battery supplier Romeo Power to accelerate its battery pack production in 
 <a href="https://sp-edge.com/updates/11988">
 August 2022
 </a>
 ; but started liquidating its assets in 
 <a href="https://sp-edge.com/updates/19930">
 July 2023
 </a>
 due to increased costs of battery production.
 
 
 
 
 Nikola was listed on Nasdaq in June 2020 through a SPAC merger. The deal raised USD 525 million at a valuation of USD 3.3 billion. Post-listing, General Motors invested USD 2 billion in Nikola (September 2020), and the company raised 
 <a href="https://sp-edge.com/updates/10073">
 USD 200 million
 </a>
 in convertible notes (May 2022). Nikola was generating revenue via small-scale solar installation projects. The company reported revenue of USD 95,000 and a net loss of USD 384.3 million in 2020.
 
 
 
 
 In March 2023, Nikola announced that it plans to raise USD 100 million through a secondary stock offering to the public, to use in meeting its working capital needs and for other general purposes.
 
 
 
</div>

Zeta Energy develops rechargeable batteries, using its advanced lithium-sulfur battery technology, for use in electric vehicles and grid energy storage. The company has developed both a proprietary cathode and anode for its battery system. Zeta’s carbon nanotube anode is integrated with its proprietary sulfurized carbon cathode to develop high-performance and low-cost battery cell technology. The company has also filed 30+ patents on its proprietary carbon nanotube anode and sulfur cathode technology.&nbsp;Zeta’s technology doesn’t comprise nickel, cobalt, manganese, or graphite. This reduces dependency and volatility in prices and the availability of materials. Moreover, all of Zeta’s materials are sourced closer to the company’s manufacturing locations, reducing supply chain constraints. The company aims to develop batteries that achieve over one thousand cycles with greater than 450 Wh/kg, at a cost of under USD 60/kWh, by 2025.In <a href="https://sp-edge.com/updates/18959">May 2023</a>, Zeta announced that it has developed a sulfurized carbon material compatible with dry-electrode processing. As such, the company is able to avoid the use of solvents entirely when producing electrodes and eliminated the need for drying.&nbsp;Key customers and partnershipsIn November 2023, Zeta partnered with Huntsman Corporation to develop an advanced lithium-sulfur battery, which doesn't require copper or aluminum for current collection.Funding and financialsIn <a href="https://sp-edge.com/updates/26532">February 2024</a>, Zeta secured a USD 4 million grant from the US Department of Energy's Vehicles Technology Office (VTO). The company intended to use the funding to advance and commercialize its high-capacity lithium-sulfur battery technology.Prior to this, in January 2023, Zeta Energy received USD 4 million in federal funding to develop efficient EV batteries as part of the ARPA-E's EVs4ALL (Electric Vehicles for American Low-carbon Living) program. Prior to this in February 2022 the company raised <a href="https://sp-edge.com/updates/8271">USD 23 million</a> in a Series A funding round led by Moore Strategic Ventures. The proceeds were used to expand the company’s laboratory facility in Houston and scale up the commercialization activities of its battery technology.

<div>
 
 Titan Advanced Energy Solutions provides ultrasound-based battery management solutions. The company&rsquo;s ultrasound technology monitors a battery from inside to provide real-time intelligence on its health, capacity, and state of charge. Titan offers intelligence at each stage of a battery&rsquo;s life, from manufacturing through first use, second life, and recycling. The company stated that its solution could optimize battery performance, extend battery life, and spot safety risks in advance.
 
 
 Key customers and partnerships
 
 
 As of November 2023, Titan was co-developing its solutions with global auto, battery, and consumer electronics manufacturers in the US and Europe.&nbsp;
 
 
 &nbsp;Funding and financials
 
 
 Titan&rsquo;s most recent funding round was in November 2021, when it raised USD 33 million in a Series B. The proceeds were to be used to accelerate industrial-scale deployments of its battery management solutions. Additionally in June 2022, the company was a Phase III winner of the US Department of Energy Lithium-Ion Battery Recycling Prize. Here, Titan&rsquo;s submission focused on extending the lifetime use of the batteries before recycling them.
 
 
 
</div>

KORE Power is a US-based company that has developed nickel manganese cobalt (NMC) and lithium-ion iron phosphate (LFP) EV batteries and energy storage systems.In 2022, the company began construction of its 6 GWh KOREPlex advanced battery cell manufacturing facility in Arizona, with plans to begin deliveries between 2024 and 2025. The facility will have multiple production lines to produce NMC and LFP ESS and EV batteries. The company has reported the possibility of expanding the facility further to 12 GWh to meet market demand.Funding and financialsIn June 2023, KORE Power received a conditional commitment for a loan of <a href="https://sp-edge.com/updates/19360">USD 850 million </a>from the US Department of Energy's Loan Programs Office (LPO) under the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program. The company intended to use the funds to support the construction of its KOREPlex manufacturing facility.

Sila Nanotechnologies (Sila) has developed a silicon-based anode that replaces graphite in conventional lithium-ion batteries, allowing manufacturers to use the new material without needing to change the battery manufacturing process or equipment. In April 2019, Sila claimed that its technology could improve the energy density of lithium-ion batteries by around 20%.&nbsp;In May 2022, Sila purchased a 600,000+ sq ft facility in Moses Lake, Washington to build a manufacturing facility. Initially, Sila will deliver anode material sufficient to power 10 GWh of battery cells when used as a full graphite replacement or up to 50 GWh of cells when used as a partial replacement. This would be sufficient to produce batteries for up to 100,000–500,000 EVs and 500 million mobile phones annually. Production at the facility is expected to commence in 2H 2024 to reach full production by 1H 2025. The company states that the facility has the potential for further expansion to reach the capacity to power 150 GWh of battery cells when used as a full graphite replacement or 750 GWh as a partial replacement—enough to power 2 million–10 million EVs per year.Key customers and partnershipsSila has yet to commercialize its technology but the company has formed partnerships with automakers such as BMW and Daimler to produce battery material for their next generation of EVs. In December 2023, Sila partnered with Panasonic Energy to provide next-generation nano-composite silicon anode material from the latter’s EV lithium-ion batteries.Funding and financialsIn October 2022, Sila was awarded a <a href="https://sp-edge.com/updates/13899">USD 100 million</a> grant by the US Department of Energy to develop a 600,000+ square foot facility in Moses Lake, Washington, and scale manufacturing of its silicon anode materials. In January 2021, Sila raised USD 590 million in a Series F round, which was to be used to build its new factory.

Group14 Technologies (Group14) develops silicon-carbon composite materials as an alternative for the graphite used in lithium-ion batteries. Group14 claims that its flagship product SCC55, a micronized silicon-carbon powder, has 5x more capacity and offers up to 50% more energy density than graphite. Use cases for SCC55 include EVs, medical devices, aviation, and grid storage.&nbsp;In October 2020, Group14 announced the development of a production facility in Moses Lake, Washington, that is expected to carry a production capacity of more than 750,000 silicon-carbon anodes per year. In <a href="https://sp-edge.com/updates/17527">April 2023</a>, the company began construction of a second commercial-scale Battery Active Materials (BAM-2) factory in Moses Lake, Washington. The factory is expected to begin manufacturing SCC55 in 2024.Key customers and partnershipsIn January 2024, Group14 Technologies partnered with <a href="https://sp-edge.com/updates/25287">Enovix</a> Corporation, to utilize the former's silicon-carbon composite, SCC55, in silicon battery production.Funding and financialsIn October 2022, Group14 was awarded a <a href="https://sp-edge.com/updates/13898">USD 100 million</a> grant by the US Department of Energy under the Bipartisan Infrastructure Law. Group14 will be using the funds to build two 2,000-ton-per-year commercial manufacturing modules in its second US Battery Active Materials factory (BAM-2) in Washington.&nbsp;In May 2022, Group14 raised <a href="https://sp-edge.com/updates/10162">USD 400 million</a> in a Series C round led by Porsche AG. Following this in December 2022, the company raised <a href="https://sp-edge.com/updates/15344">USD 214 million</a> in additional financing. This brings its Series C funding to a total of USD 614 million. The funds will be used to build its BAM-2 factory.

Amprius develops silicon anodes for lithium-ion batteries as an alternative to graphite anodes. The company states that its patented technology has overcome the “swelling” problem of silicon (silicon anodes swell when charging and risk breaking the battery). Amprius’ silicon nanowire technology is based on research done by scientists at Stanford University.Amprius states that its silicon anode battery is the highest energy density battery in the world and could improve the current EV ranges nearly twofold. In February 2022, Amprius announced the shipment of the first commercially available 450 Wh/kg lithium-ion battery cells to an undisclosed industry leader in high-altitude pseudo satellites (in comparison, the energy density of highest-density lithium-ion batteries is around 250 Wh/kg–270 Wh/kg). Other use cases of the company’s batteries include smartphones, wearables, drones, robotics, EVs, and military equipment.Amprius has been manufacturing high-energy density batteries at its Fremont, California facility since 2018. In <a href="https://sp-edge.com/updates/16974">March 2023</a>,, the company selected a 775,000 sq. ft. site in Brighton, Colorado to be its next manufacturing plant for lithium-ion batteries. The factory, which is expected to be operational in 2025, will have an initial capacity of 500 MWh.Key customers and partnershipsThe company has partnerships with Airbus Zephyr Programme, Kraus Hamdani Aerospace, <a href="https://sp-edge.com/updates/11669">Teledyne FLIR</a> and the US Army to develop high-density batteries for unmanned aircraft systems (UAS). In <a href="https://sp-edge.com/updates/14035">October 2022</a>, the company partnered with BAE Systems to deliver batteries for electrically powered flight applications and identify opportunities to use batteries for products developed by BAE Systems.Funding and financialsIn September 2022, Amprius was <a href="https://sp-edge.com/updates/13104">listed </a>on the NYSE stock exchange, which resulted in gross proceeds of approximately USD 87 million. The company is expected to use these funds for the construction of its gigawatt hour-scale manufacturing facility. In October 2022, the company was awarded a <a href="https://sp-edge.com/updates/13698">USD 1 million grant</a> from the US Department of Energy’s (DOE) Advanced Manufacturing Office to continue to advance the high-volume manufacturing process for its nanowire-based silicon anodes, through the use of a deposition system currently used for manufacturing solar cells. During the same month, Amprius was awarded a <a href="https://sp-edge.com/updates/13896">USD 50 million</a> cost-sharing grant from the US Department of Energy under the Bipartisan Infrastructure Law. Prior to this, in May 2022, Amprius was awarded a <a href="https://sp-edge.com/updates/10151">USD 3 million contract</a> from the US Advanced Battery Consortium (USABC) to develop low-cost, fast-charge (LCFC) silicon nanowire battery technology.&nbsp;

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

ZwitterCo is a water technology company offering solutions for industrial wastewater treatment and reuse. The company’s solution, called “Zwitterionic” membranes, is a rugged polymer membrane made from patented copolymers used for wastewater separation. Zwitterionic membranes are used to recycle tough-to-treat wastewater such as treating digestates, leachates, O&amp;G (oil and gas) produced water, poultry and dairy, bioprocessing, and food and beverage produced wastewaters. The company claims to offer the world's first organic fouling-immune brackish water membranes, reducing cleaning frequency by up to 90%.Its membranes are also stated to be immune to fouling after every wastewater cleaning cycle compared to traditional membranes whose performance degrades after each cleaning cycle. The company also claims that the material filtered out of the membranes can also be resold as fertilizer or feedstock.In November 2023, the company initiated its <a href="https://zwitterco.com/news/zwitterco-launches-early-access-program-for-first-organic-fouling-immune-ro-membrane/">Early Access Program</a> for its new brackish water reverse osmosis (BWRO) membranes, allowing ZwitterCo to collaborate with select customers and OEMs for field applications ahead of the product’s commercial launch in 2024.Key customers and partnershipsIn October 2022, the company partnered with Digested Organics, a Michigan-based wastewater filtration solutions company, as a channel partner in North America to provide solutions for the digestate market. In May 2023, the company partnered with <a href="https://zwitterco.com/news/zwitterco-and-mott-corporation-enter-into-exclusive-partnership-to-deliver-new-filtration-and-nutrient-management-solutions/">Mott Corporation</a> to deliver wastewater solutions for manure and food-waste digesters, as well as breweries and distilleries, in North America.Funding and financialsIn <a href="https://sp-edge.com/updates/13117">September 2022</a>, the company raised USD 33 million in Series A funding led by DCVC. The funds were to be used to expand the production and development of Zwitterionic membrane technology and support the construction of the company’s innovation center in Boston.

<div>
 
 Smartville is a California-based company developing sustainable energy storage solutions from repurposed EV batteries. The company&rsquo;s first commercially available second-life energy storage solution, &quot;MOAB,&quot; was launched in March 2023. It could hold between six to 10 repurposed battery packs from Tesla and Nissan&rsquo;s Leaf&mdash;which are in varying states of health in a unified system&mdash;and is rated between 200&ndash;500 kWh. In September 2023, Smartville unveiled the The Smartville 360 Battery Energy Storage System (BESS), which builds on MOAB with a modular design. The solution starts at 360 kWh of available capacity and can be scaled to suit the application.
 
 
 Smartville&rsquo;s battery refurbishing process allows the company to bring batteries from different vehicle models and power-coupling formats into the same modular design, which is an important enabler for scalability. Smartville uses specially designed power converters and a conditioning process that deliberately slows down the battery testing process to balance the health of the batteries across the entire system. The company is also able to generate an additional revenue from selling electricity generated by the testing process, as it involves charging and discharging over several weeks. Additionally, Smartville is able to improve the total health of the battery system over time and provide a warranty on the performance of the repurposed batteries.
 
 
 In December 2022, Smartville indicated that it aims to deploy 50&ndash;100 MWh of product capacity by 2024. The company also aims to obtain UL 1073, UL 1974, and UL 9540 certifications, which are needed to manufacture second-life storage systems by Q1 2024.
 
 
 
 
 
 
 Key customers and partnerships:
 
 
 In March 2023, UC San Diego deployed the MOAB/Smartville 360 system in a 500 kWh configuration that provides 48 hours of emergency backup power. The system was fed by a 200 kilowatt rooftop solar array.&nbsp;
 
 
 
 
 
 
 Funding and financials:
 
 
 In 
 <a href="https://sp-edge.com/updates/23949">
 November 2023
 </a>
 , the company secured USD 2.65 million in federal and state grants to develop its Smartville 360 solution. In 
 <a href="https://sp-edge.com/updates/22357">
 September 2023
 </a>
 , Smartville was awarded a USD 10 million grant from the US Department of Energy's Office of Clean Energy Demonstrations to support the company in deploying Smartville 360 across six locations in four states.
 
</div>

Ascend Elements (previously known as Battery Resourcers) takes old cathode material and processes them to create new cathode materials, to meet the needs of cell manufacturing. Ascend Elements also recycles spent lithium-ion batteries into value-added battery-ready cathode active materials.&nbsp;The company reports that its technology which involves the hydro process recycling and direct recycling technologies allow in 97% metal recovery and production of Nickel Manganese Cobalt (NMC)-based cathode active materials at a 35% reduction in cost, 32% reduction in emissions, and&nbsp;13% reduction in energy consumption, compared to the production of virgin cathodes. The company also claims that it can recycle and produce cathode materials at 50% of the cost of newly mined metals. As of March 2024, the company manufactures its products in North America and Europe, and it targets battery producers and vehicle equipment manufacturers, having partnered with players such as <a href="https://sp-edge.com/updates/16689">Honda</a>, Jaguar Land Rover, <a href="https://sp-edge.com/updates/9004">SK Battery America (SKBA)</a>, and <a href="https://sp-edge.com/updates/13777">EcoPro Group</a>.&nbsp;In March 2023, Ascend Elements <a href="https://sp-edge.com/updates/17477">commenced</a> operations at its <a href="https://sp-edge.com/updates/7596?industryIds=54">154,000 square-foot lithium-ion battery recycling facility</a> in Covington, Georgia. The facility can process 30,000 metric tons of end-of-life batteries and battery scrap per year(~70,000 vehicle batteries per year), and has reportedly become North America’s largest lithium-ion battery recycling facility. As of March 2024, the company was building a USD 1 billion lithium-ion battery recycling facility in Kentucky, expected to come online by 2025 and produce battery materials for up to 750,000 EVs per year. It also set a long-term target to build new facilities across North America, Europe, and Asia to process up to 150,000 metric tons of lithium-ion batteries annually.Key customers and partnershipsThe company partnered with Koura, a global leader in the development, manufacture, and supply of fluoroproducts, in <a href="https://sp-edge.com/updates/17070">March 2023</a>, to supply Koura with up to 5,000 metric tonnes of recycled and recovered lithium carbonate per year. In <a href="https://sp-edge.com/updates/22816">October 2023</a>, they advanced the partnership to jointly commercialize the patented graphite recycling technology in the US. In August 2023, the company partnered with <a href="https://sp-edge.com/updates/21139">Call2Recycle</a> to safely manage end-of-life EV batteries using Call2Recycle's GreenTraxEV platform. In September 2023, the company partnered with <a href="https://sp-edge.com/updates/21794">Freudenberg e-Power Systems</a> to develop a sustainable cathode-active material (CAM). During the same period, the company formed a joint venture with <a href="https://sp-edge.com/updates/22168">SK Ecoplant</a> to build a battery recycling pretreatment plant in Kentucky which will be able to produce 12,000 tons of black mass from January 2025.&nbsp;Funding and financialsIn <a href="https://sp-edge.com/updates/26811">February 2024</a>, Ascend Elements raised USD 162 million in a Series D round to support the construction of Apex 1. Previously, in <a href="https://sp-edge.com/updates/21610">September 2023</a>, when the company raised USD 542 million in a Series D funding round led by Decarbonization Partners, Temasek, and Qatar Investment Authority. The funds were to be used for construction of Apex 1.

<div>
 
 American Battery Technology Company (ABTC) provides domestically sourced battery metals through its three segments: lithium-ion battery recycling, primary metals manufacturing, and primary resources development. The company has developed a universal closed-loop battery recycling process that extracts critical materials, including lithium, cobalt, nickel, and manganese, from end-of-life batteries and purifies them to the same quality or even higher quality specifications than conventional materials sourced from mining operations. Apart from the end-of-life batteries from consumer electronics, stationary storage, and electric vehicles, the company recycles defects and waste from battery manufacturing facilities. ABTC&rsquo;s recycling process utilizes an automated deconstruction process combined with a targeted hydrometallurgical, non-smelting process that deconstructs battery packs to modules, modules to cells, cells to subcell components, and then strategically sorts and separates those subcell components. The company claims its technology conserves natural resources including water, decreases air pollution associated with smelting, and increases operational efficiencies while generating less waste and higher material recovery rates in contrast to conventional recycling methods.
 
 
 
 
 As of November 2022, ABTC operated out of a pre-commercial lithium-ion battery recycling pilot plant located in Fernley, Nevada. In October 2022, the company started construction of a USD 115 million first-of-kind commercial-scale facility to manufacture battery-grade lithium hydroxide from Nevada-based sedimentary resources, following a US department of energy grant. This facility would consist of three functional building areas totaling approximately 100,000 sq ft of floor space with 60,000 sq ft production space and was planned to start production in two phases; phase 1 and phase 2 in 1H 2023 and 1H 2024, respectively. In 
 <a href="https://sp-edge.com/updates/16970">
 March 2023
 </a>
 , the company entered into purchase agreements for a commercial-scale battery recycling facility located in the Tahoe-Reno Industrial Center (TRIC), Nevada, to expand operations of lithium-ion battery recycling technologies. The company started operations in this facility in 
 <a href="https://www.prnewswire.com/news-releases/american-battery-technology-company-announces-start-of-operations-at-its-commercial-scale-lithium-ion-battery-recycling-facility-in-nevada-301953607.html">
 October 2023.
 </a>
 &nbsp;
 
 
 Key customers and partnerships
 
 
 
 
 ABTC is partnering with Novonix Group, University of Nevada, Reno, University of Utah, North Carolina State University, National Renewable Energy Laboratory, Argonne National Laboratory, and Idaho National Laboratory for the further development of R&amp;D efforts. Furthermore, ABTC will rely on Dainen Material and Novonix Group for additional downstream material validation. 
 
 
 Funding and financials
 
 
 ABTC&rsquo;s most recent funding round was in 
 <a href="https://sp-edge.com/updates/21454">
 September 2023
 </a>
 , when it raised USD 50 million in debt financing in the form of zero-coupon convertible notes from an institutional investor, to expand its battery material processing operations. As of November 2022, the company was yet to
 
 commercialize and generate revenue and was expected to begin by 1H 2023 after the commissioning of the first phase of the commercial-scale facility that is currently under construction.
 
 
 In 
 <a href="https://sp-edge.com/updates/13975">
 October 2022
 </a>
 , ABTC received a USD 57 million grant followed by another grant of USD 10 million in 
 <a href="https://sp-edge.com/updates/14733">
 November 2022
 </a>
 , both from US Department of Energy, bringing the company&rsquo;s total funding to&nbsp; USD 74.2 million.
 
 
 
</div>

<div>
 
 Li-Cycle is a Canadian lithium-ion battery manufacturer and a recycler offering technology solutions to recycle end-of-life batteries. The company offers two proprietary technologies, one is its &ldquo;Mechanical Safe Size Reduction&rdquo; technology, which converts lithium-ion batteries into inert products with no solid or liquid waste, and the other is its &ldquo;Hydrometallurgical Processing&rdquo; technology that recovers and recycles battery-grade lithium, nickel, cobalt, and other materials. Li-Cycle claims that it has the potential to recover more than 95% of the constituent materials in lithium-ion batteries.&nbsp;
 
 
 As of April 2023, the company operates facilities in Ontario (5,500 tons of annual lithium-ion battery processing capacity); 
 <a href="https://sp-edge.com/updates/10541">
 Arizona
 </a>
 , (18,000 tons annual lithium-ion battery processing capacity); and 
 <a href="https://sp-edge.com/updates/13784">
 Alabama
 </a>
 (10,000 tons per year). Furthermore, the company also has four facilities under construction : 
 <a href="https://sp-edge.com/updates/15068">
 Rochester
 </a>
 (35,000 tons of black mass per year,), 
 <a href="https://sp-edge.com/updates/20634">
 Germany
 </a>
 (30,000 tons per year), 
 <a href="https://sp-edge.com/updates/8082">
 Norway
 </a>
 (10,000 tons per year, 2024) , and 
 <a href="https://sp-edge.com/updates/17331">
 France
 </a>
 (10,000 tons per year, 2024). Construction of the New York facility (18,000 tons of annual processing capacity) was paused in October 2023 pending a review of the project. The company has reached a total lithium-ion battery processing capacity of 51,000 tons per year across all four operating spokes in North America, and plans to reach a total of 81,000 tons per year across spokes in North America and Europe by the end of 2023.
 
 
 Key customers and partnerships
 
 
 
 <a href="https://sp-edge.com/updates/7351">
 In December 2021,
 </a>
 the company signed a non-binding letter of intent to receive nickel-bearing battery scraps from LG Energy Solutions (LGEC) and recycle them into nickel sulfate to supply to both LGEC and LG Chem Ltd (LGC). The supply would be able to power 300,000 high-performing electric vehicles. In addition to this, LGEC and LGC invested USD 25 million each in Li-Cycle. The investment is likely to support Li-Cycle in scaling battery production to keep up with the growing demand for lithium-ion batteries. Similarly, the company also secured USD 200 million in investment from metals and mining firm 
 <a href="https://sp-edge.com/updates/10201">
 Glencore
 </a>
 and also signed a supply deal with the latter.&nbsp;
 
 
 To enter Europe and build a plant in Norway, Li-Cycle formed a 
 <a href="https://sp-edge.com/updates/8082">
 joint venture (JV) 
 </a>
 with Eco Stor (European battery manufacturer and recycler) and Morrow Batteries (Norwegian battery manufacturer) in January 2022. During the same time, the company also extended its partnership with 
 <a href="https://sp-edge.com/updates/8104">
 Ultium Cells LLC
 </a>
 (a joint venture between General Motors and LG Energy Solution) to construct the Ohio lithium-ion battery recycling plant.&nbsp;
 
 
 In November 2022, the company forged a global partnership with VinES, a battery and cell pack manufacturer and a member company of Vingroup, the largest private conglomerate in Vietnam. As per the partnership companies will explore global recycling solutions for VinES and VinFast &ndash; a global electric vehicle manufacturer that is also part of Vingroup.&nbsp;
 
 
 The company also signed a definitive agreement with 
 <a href="https://sp-edge.com/updates/17331">
 KION Group
 </a>
 , a German multinational manufacturer of industrial trucks and supply chain solutions, to recycle lithium-ion batteries from KION&rsquo;s global brands using Li-Cycle&rsquo;s proprietary submerged shredding technology until 2030.
 
 
 
 
 
 Funding and financials
 
 
 The company started trading on the NYSE in August 2021, via a SPAC deal with Peridot raising USD 580 million in gross proceeds. The company reached a pro forma equity value of USD 1.55 billion following the SPAC deal.&nbsp;
 
 
 Li-Cycle reported a revenue of USD 5.9 million for the 
 <a href="https://sp-edge.com/updates/17492">
 two-month transition period
 </a>
 ending December 31, 2022, 2.1x higher the revenue for the same period in 2021. The company&rsquo;s adjusted EBITDA loss was USD 17.8 million, 2.1x the loss in the same period of 2021.
 
 
 In 
 <a href="https://sp-edge.com/updates/16688">
 February 2023
 </a>
 , Li-Cycle received a conditional commitment from the US Department of Energy Loan Programs Office for a USD 375 million loan to fund their first commercial hydrometallurgical resource recovery facility located near Rochester, New York.
 
</div>

Princeton NuEnergy (PNE) offers battery recycling solutions using its patented technology process called low-temperature plasma-assisted separation (LPAS). Its technology sorts, purifies, and regenerates cathode materials from used lithium-ion batteries. This direct recycling process can recover up to 95% of all constituent materials in lithium-ion batteries. The company claims that its production process uses 73% less energy and 68% less greenhouse gas emissions than the conventional cathode production process. In addition, the company aims to achieve 48% lower cost compared to virgin production of cathode materials.Key customers and partnershipsThe company, spun out from Princeton University in 2019, initiated <a href="https://sp-edge.com/updates/8976">commercialization efforts </a>in March 2022 through a partnership with electric industrial vehicle manufacturer Greenland Technologies Holding to develop recycling solutions for end-of-life lithium-ion batteries used in the latter’s vehicles. In October 2022, Princeton NuEnergy along with Winstron Greentech, a subsidiary of Taiwan-based Winstron Corporation, opened the <a href="https://sp-edge.com/updates/14062">pilot lithium-ion battery</a> (LIB) recycling production line in McKinney, Texas. The pilot plant can process up to 500 tons of LIBs per year and will use PNE’s proprietary low-temperature plasma-assisted separation (LPAS) recycling technology to process LIBs from consumer electronics and electric vehicle (EV) battery packs.&nbsp;Princeton is also working with leading scientists from Argonne National Lab, National Renewable Energy Lab, Oak Ridge National Lab, and the University of California Irvine, to advance and enhance the efficiency of its LPA.&nbsp;Funding and financialsPNE secured USD 16 million in a Series A funding round in <a href="https://sp-edge.com/updates/23553">November 2023</a> to be used to establish a new facility and bolster the company’s processing capacity. Earlier in <a href="https://sp-edge.com/updates/21712">September 2023</a>, the company was awarded a USD 4.4 million grant from the US Department of Energy (DOE) and the Office of Energy Efficiency and Renewable Energy (EERE) to advance Cathode-Active Materials (CAMs) manufacturing.

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.

Nth Cycle focuses on processing and recycling metal waste for recycling and mining companies. The company uses an engineering process called electro-extraction to recover critical minerals such as cobalt and nickel from discarded batteries, low-grade ores, and mine site waste. The company claims that its technology process is cleaner and a cheaper alternative to current pyrometallurgy and hydrometallurgy processes as it uses less electricity, which can be generated from 100% clean renewable power. The electro-extraction is also said to reduce greenhouse gasses by 75% compared to the current production process of critical minerals. Nth Cycle also claims that it can recover over 90% of the target critical minerals. Nth Cycle's business model involves entering into manufacturing contracts with the customers and the company’s initial target market is North America.In <a href="https://sp-edge.com/updates/16022">January 2023</a>, the company announced a premium Mixed Hydroxide Precipitate (MHP) nickel intermediary product for nickel sulfate producers, manufactured using the company's patented electro-extraction process, named "The Oyster." In July 2023, Nth Cycle commissioned a 21,000 sq ft refining facility in Fairfield, Ohio, with a capacity to produce 3,000 tons per annum.Funding and financialsIn December 2023, Nth Cycle raised USD 37 million in <a href="https://sp-edge.com/updates/24613">Series B funding</a> and an additional USD 7 million in non-dilutive financing led by VoLo Earth Ventures. The funds were to be used to commercialize Nth Cycle's initiatives by building a new partner testing facility, growing its commercial team, and expanding its headquarters.

Hydrogen Economy

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/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.

Verdagy, a spin-out of Chemetry, manufactures innovative hydrogen electrolyzers. The company’s electrolyzers use its unique water electrolysis technology, “eDynamic,” which leverages the world’s largest membrane-based electrochemical cell. The company’s flagship product is its 20 MW eDynamic hydrogen electrolyzer.In November 2022, Verdagy launched its three-cell 500 kW commercial electrolyzer module at its 25,000 sq. ft. pilot facility in Moss Landing, California, followed by the 1,000-hour run demonstration of its 20kW Anion Exchange Membrane (AEM) cell. In September 2023, the company announced the opening of its new facility in Newark, California, with more than 100,000 sq. ft. of advanced manufacturing space. The Silicon Valley facility is due to commence operations in Q1 2024 and will reportedly be the first to manufacture advanced water electrolyzers in high volume in the US.Key customers and partnershipsIn September 2021, Verdagy partnered with Permascand Top Holding AB, a manufacturer of electrochemical solutions, to develop a novel electrochemical cell for the production of green hydrogen which will form the basis of the Verdagy Water Electrolysis (VWE) process.Funding and financialsVerdagy’s most recent funding was in <a href="https://sp-edge.com/updates/20853">August 2023</a>, when it raised USD 73 million in a Series B funding round led by Temasek and Shell Ventures. The company intended to use the funding to manufacture its industrial-scale electrolyzers. Prior to that, in February 2022, the company raised USD 25 million in a venture round led by TDK Ventures. The funds were used to expand its operations and to further develop its electrolyzer technology.

Pajarito Powder develops advanced catalysts for proton exchange membrane (PEM) and alkaline fuel cells and electrolyzers. The company offers four main products: 1) Engineered Catalyst Supports (ECS products), 2) Platinum Group Metal (PGM) catalysts, 3) Engineered Electrolyzer Catalysts (EEC products), and 4) Precious Metal Free (PMF) catalysts that are free of PGMs. The company leverages its proprietary VariPore manufacturing platform as the basis for the mass production of high-performance, high durability catalyst products.In December 2023, the company announced the completion of its new production facility and corporate headquarters in Albuquerque, New Mexico.Funding and financialsPajarito Powder doubled its sales of commercial catalyst products year-over-year in 2020. The company’s primary markets were in Asia, but the demand was also reportedly strong in North America during the year. ECS products were the largest contributor to the revenue mix, followed closely by PGM catalyst products, followed by EEC products and PMF catalyst products.Pajarito Powder’s last funding event was in September 2022, when it raised an undisclosed amount in a <a href="https://sp-edge.com/updates/12748">Series B funding</a> round led by Bekaert Corporation. Previously, in August 2021, the company received a Series B investment from Hyundai Motor Company, which it planned to use to expand its portfolio. Pajarito Powder also received USD 250,000 from the State of New Mexico’s Local Economic Development Act (LEDA) and USD 25,000 from the City of Albuquerque in <a href="https://sp-edge.com/updates/8959">March 2022</a>. The funds were used to finance the expansion of its new manufacturing facility in New Mexico.Key competitors: None comparable (Pajarito Powder is the only startup that develops advanced catalysts for fuel cells)

<div>
 
 EvolOH, a hydrogen economy innovator based in Santa Clara, California, focuses on transforming the manufacturing process of electrolyzers, which are crucial for producing green hydrogen. Founded in 2020, EvolOH's NautilusTM platform specializes in electrolyzer stacks that use low-cost power electronics and avoid the need for corrosive electrolytes. Their technology aims to reduce both capital and operational expenses, making hydrogen production more accessible and sustainable. 
 
</div>

Nikola Motor Company (Nikola), listed on NASDAQ since June 2020, develops battery-electric and hydrogen-electric powered heavy-duty trucks. Its semi-truck, “Nikola Tre,” and pickup truck, “Nikola Badger,” come in both hydrogen fuel-cell electric vehicle (FCEV) and battery-electric vehicle (BEV) versions. Its other semi-truck model, “Nikola Two,” is only configured as an FCEV. Bosch and PowerCell AB provide fuel-cells for Nikola’s trucks.The Nikola Tre FCEV model, expected to be launched in 2023, is pitched towards medium and long-haul trucking (300 - 500 miles per day) and the Nikola Two FCEV, expected to be launched in H2 2024, is primarily pitched towards long-haul trucking. The company expects to start alpha testing of FCEV Nikola Tre in Q4 2022, followed by beta testing in Q4 2022, and production at its Arizona facility by 2023, with plans to enter the European market in 2024. Alpha tests of the FCEV Nikola Two model are expected to begin in Q4 2022, beta tests in Q4 2023, and production set to begin at the Arizona facility by 2024. Key customers and partnershipsAs of March 2020, Nikola had received more than 14,000 pre-orders for both its BEV and FCEV trucks lined up—translating to more than USD 10 billion in potential revenue. In May 2021, the company collaborated with Total Transportation, a California-based port trucking company, for vehicle trials and signed a letter of intent for 70 FCEV truck pre-orders by 2023. Nikola also collaborated with <a href="https://sp-edge.com/updates/6036">PGT Trucking </a>, a provider of flatbed transportation services, to supply 100 FCEV trucks, <a href="https://sp-edge.com/updates/7719">Covenant Logistics Group </a>, a transportation services provider, to supply 40 FCEV trucks by 2023, <a href="https://sp-edge.com/updates/15372">Plug Power </a>, a fuel-cells systems provider, to supply 75 FCEV trucks starting from 2023 and <a href="https://sp-edge.com/updates/18208">AJR Trucking </a>, a freight transportation provider, to supply 50 FCEV trucks by Q4 2023 and Q1 2024.In January 2022, Nikola <a href="https://sp-edge.com/updates/7959">signed an agreement </a>with Corcentric Fleet Funding Solutions, a leasing and financial solutions provider, to finance the sale of Class 8 Nikola Tre BEVs and Nikola Tre FCEVs. As of September 2021, the company had 116 dealer locations across Southeast, Midwest, and Northeast US regions, with RIG360 and Quinn Company being notable dealers.The company also plans to build hydrogen refueling stations across North America and Europe. The company has yet to start production with funds allocated to build manufacturing facilities in Arizona and Germany with the latter being a joint venture with the Italian alternative fuel powered vehicle manufacturer, IVECO. Nikola has also signed a Memorandum of Understanding (MoU) with OPAL Fuels, a leading provider of renewable natural gas (RNG), and has partnered with TC Energy Corporation, a Canadian energy infrastructure company, to build and operate large-scale hydrogen hubs in North America.In September 2022, Nikola entered into a <a href="https://sp-edge.com/updates/13113">joint venture </a>with E.ON, a German-based energy networks and infrastructure operator, to strengthen its hydrogen refuelling ecosystem across Europe. In November 2022, Nikola collaborated with <a href="https://sp-edge.com/updates/14146">KeyState </a>, a green hydrogen producer, to purchase 100 metric tons of hydrogen per day, to fuel 2,500 Nikola Tre FCEVs. In May 2023, Nikola via its hydrogen brand HYLA, entered into a definitive strategic partnership with <a href="https://sp-edge.com/updates/18208">Voltera </a>, an EV-charging infrastructure provider, to deploy 50 hydrogen fueling stations across North America over the next five years.In July 2023, Nikola partnered with <a href="https://sp-edge.com/updates/20223">BayoTech </a>to strengthen its hydrogen refuelling and EV charging ecosystem. During the same month, the company partnered with <a href="https://sp-edge.com/updates/20352">Bosch </a>to obtain fuel-cell power modules for its Nikola Tre Class 8 FCEV trucks.Nikola also acquired battery supplier Romeo Power to accelerate its battery pack production in August 2022; but started liquidating its assets in July 2023 due to increased costs of battery production.Funding and financialsIn June 2020, Nikola was listed in NASDAQ through a special purpose acquisition company (SPAC) deal, valuing the company at USD 3.3 billion. As of June 2021, the company has been generating revenue via small scale solar installation projects. The company reported revenue of USD 95,000 and a net loss of USD 384.3 million in 2020. In <a href="https://sp-edge.com/updates/10072">May 2022 </a>, Nikola received a USD 200 million investment from Antara Capital LP through a sale of convertible senior notes to scale truck production and tooling setup, accelerate the development of hydrogen infrastructure, and for general corporate expenses.In <a href="https://sp-edge.com/updates/17977">March 2023 </a>, Nikola announced that it plans to raise USD 100 million through a secondary stock offering to the public, to use in meeting its working capital needs and for other general purposes. Following this in <a href="https://sp-edge.com/updates/19876">July 2023 </a>, the company received a USD 41.9 million grant from the California Transportation Commission (CTC) to build six open-access, heavy-duty hydrogen refueling stations across Southern California.

Heliogen is a next-generation electricity startup that uses an array of computer-controlled mirrors (heliostats) to collect and concentrate sunlight to generate ultra-high temperatures of around 1,000 °C for its “Sunlight Refineries” that generate heat, electricity, and green hydrogen. Applications of the company’s technology include, 1) “HelioHeat,” which uses the company’s solar concentration technology in heat-intensive industrial applications such as the production of cement, lime, and steel, etc. to reduce the use of fossil fuels; 2) “HelioPower,” which combines the solar concentration technology with supercritical carbon dioxide turbines to generate electricity to power industrial facilities, data centers, and mining operations; 3) “HelioFuel,” which uses the solar concentration technology to produce renewable-hydrogen. As of February 2022, the company announced plans to deploy a <a href="https://sp-edge.com/updates/8393">facility </a>producing 20,000 tons of hydrogen per year in Arizona. Heliogen has also <a href="https://sp-edge.com/updates/6782">partnered with Bloom Energy </a>to launch a demonstration facility to produce green hydrogen in California. In August 2022, the company also partnered with <a href="https://sp-edge.com/updates/12179">Dimensional Energy </a>, to produce SAF from concentrated sunlight and green hydrogen. In October 2022, Heliogen was awarded <a href="https://sp-edge.com/updates/13998">USD 4.1 million </a>by the US Department of Energy Solar Energy Technologies Office, to fund a demonstration project to reduce carbon emissions from cement production. In May 2022, the company received <a href="https://sp-edge.com/updates/10119">USD 50 million </a>funding from Woodside, and a previously announced <a href="https://sp-edge.com/updates/7456">USD 39 million </a>grant from the US Department of Energy (DOE), to deploy a solar demonstration facility. In December 2021, Heliogen was listed on NYSE through a special purpose acquisition company (SPAC) merger. The company received USD 188 million from the transaction and expects to use the proceeds to scale heliostat manufacturing and R&amp;D activities.

Quantum information processing is slowly becoming a reality, ushering in a new technological era.

Quantum Computing

<div>
 
 Qunnect develops quantum hardware that helps transform telecommunications infrastructure into scalable quantum networks. It facilitates quantum-based communications, networking, and the internet.&nbsp;
 
 
 The company&rsquo;s product suite includes 1) Qu-Source, an entangled photon source device that is designed to interface with the majority of quantum computing and sensing platforms, 2) Qu-Memory, a quantum memory device capable of storing arbitrary qubits, 3) Qu-APC, an automated polarization compensating device, 4) Qu-Swap, a telecom or near-infrared (NIR)-compatible Bell state measuring module, 5) Qu-SYNC, a quantum synchronizer module, and 6) Qu-Lock, a design for an atomic reference module to facilitate the stabilization of telecom wavelengths. As of May 2024, it was also developing quantum key distribution (QKD) systems by integrating its photon source and memory devices. Qunnect&rsquo;s differentiation stems from the capability of its products to operate at room temperature.&nbsp;
 
 
 Key customers and partnerships
 
 
 In November 2021, the company announced the first sale of Qunnect&rsquo;s quantum memory to 
 <a href="https://www.prnewswire.com/news-releases/qunnect-announces-sale-of-first-commercial-quantum-memory-301428820.html">
 Brookhaven National Laboratory
 </a>
 .
 
 
 Funding and Financials
 
 
 Qunnect raised USD 8 million in a 
 <a href="https://sp-edge.com/updates/13608">
 Series A
 </a>
 funding round in October 2022 led by Airbus Ventures to develop its product suite, scale its manufacturing, and launch a multi-node R&amp;D quantum network testbed to demonstrate entanglement distribution protocols.
 
</div>

<div>
 
 SeeQC is a quantum hardware startup spun out from Hypres, a leading developer of superconductor integrated circuits. SeeQC was developing a digital system-on-a-chip design that integrates classical and quantum circuits into a hybrid system in order to overcome quantum computers&rsquo; current challenges. This also reduces noise and interference, maintaining high-fidelity quantum operations at scale. The company owns and operates superconducting flux quantum (SFQ) processors, a chip fabrication facility that enables the creation of multi-chip quantum computing systems and provides foundry services for superconducting devices. It also has facilities in London, UK, and Naples, Italy.
 
 
 Through the hybrid approach, SeeQC believes it can reduce the cost of quantum computers by 1/400th, provide greater control, and reduce energy requirements significantly.
 
 
 
 
 
 Key customers and partnerships
 
 
 
 
 In September 2023, the company entered into a collaboration with NVIDIA to develop the first all-digital chip-to-chip link between quantum computers and graphics processing units (GPU). SeeQC has also partnered with multinational chemical company 
 <a href="https://sp-edge.com/updates/16298">
 BASF
 </a>
 in February 2023 to explore quantum computing in simulating chemical reactions.&nbsp;
 
 
 
 
 
 Funding and financials
 
 
 In June 2022, the company received 
 <a href="https://sp-edge.com/updates/11379">
 two grants 
 </a>
 totaling USD 0.4 million from the US Department of Energy (DOE) as part of USD 54 million in DOE grants awarded to 210 small businesses across 38 states. The grants were earmarked to accelerate R&amp;D on quantum-enhanced solutions for green energy and climate management.
 
</div>

<div>
 
 Emerging from the Massachusetts Institute of Technology (MIT) in 2022, Atlantic Quantum develops quantum hardware, leveraging the superconducting qubit fluxonium&mdash;as opposed to the commonly used transmon qubits. The use of fluxonium qubits supports the company&rsquo;s primary focus of building quantum computers with long coherence times (the ability to withstand external disturbances from affecting qubits from falling out of their quantum states), simplifying qubit controls, and reducing errors in quantum processors. Achieving these focus areas would facilitate the use of quantum computers to solve practical real-world problems.&nbsp;
 
 
 In December 2023, the company developed an 
 <a href="https://sp-edge.com/updates?companyIds=2115846">
 open-source software
 </a>
 framework for managing and tuning quantum processors. The project was funded by the US Department of Energy.&nbsp;
 
 
 
 
 
 Key customers and partnerships
 
 
 In 
 <a href="https://sp-edge.com/updates/23474">
 November 2023
 </a>
 ,
 Atlantic Quantum secured a contract from the Intelligence Advanced Research Projects Activity (IARPA) and collaborated with several international research institutions, including Forschungszentrum J&uuml;lich (Germany), the Universit&eacute; de Sherbrooke (Canada), and ETH Zurich (Switzerland), to develop error-corrected quantum computers. In October 2023, the company partnered with 
 <a href="https://sp-edge.com/updates/23124">
 SCALINQ
 </a>
 to accelerate qubit control, characterization, and measurements on cryogenic hardware.&nbsp;
 
 
 
 
 
 Funding and financials
 
 
 In September 2023, Atlantic Quantum secured a 
 <a href="https://www.atlantic-quantum.com/news/atlantic-quantum-wins-air-force-contract-to-build-high-performance-quantum-processor">
 Direct-to-Phase II contract
 </a>
 by AFWERX worth USD 1.25 million. The funds were earmarked for the advancement of fluxonium-based quantum computer hardware that could potentially resolve certain technical challenges within the Department of the Air Force (DAF).&nbsp;
 
</div>

<div>
 
 Infleqtion (formerly ColdQuanta) is a developer of quantum computers based on the use of cold neutral atoms (similar to trapped ions, but cold atoms), which the company believes will help with scalability. Its current focus is on building hardware, but the company entered the software space in May 2022 with the acquisition of quantum software company 
 <a href="https://sp-edge.com/updates/10378">
 Super.tech
 </a>
 . In January 2024, the company also acquired 
 <a href="https://sp-edge.com/updates/26066">
 SiNoptiq and Morton Photonics
 </a>
 to bolster quantum manufacturing capabilities.&nbsp;
 
 
 ColdQuanta, which was a spin-off of the University of Colorado Boulder, started off as a supplier of various quantum instruments and systems, later venturing into building its own quantum computers. In 
 <a href="https://coldquanta.com/were-proud-to-announce-infleqtion/">
 November 2022
 </a>
 , a new umbrella brand, &ldquo;Infleqtion,&rdquo; was launched, under which ColdQuanta will operate as a dedicated quantum research branch. This restructuring reflects the company&rsquo;s aim of building an ecosystem of quantum technologies and commercial quantum products via acquisitions.&nbsp;
 
 
 The company operates in three lines of business: Quantum Computing, Devices and Machines, and Quantum Research-as-a-Service (QRaaS). The quantum computing division builds quantum computers, and in July 2021, it announced reaching 100 qubits in its cloud-based quantum system &ldquo;Hilbert.&rdquo; The devices and machines division provides hardware to other quantum computing companies and quantum lab environments. The company also released its software platform, Superstaq, in 
 <a href="https://sp-edge.com/updates/21769">
 September 2023
 </a>
 into open beta. The platform offers device-physics-aware compilation techniques and various optimization techniques. In December 2023, the company launched the world's first quantum innovation platform, 
 <a href="https://sp-edge.com/updates/24652">
 Oqtant
 </a>
 , as a service to offer access to quantum matter via the cloud.&nbsp;
 
 
 The company claims its key advantage is the core technology that has applications in a variety of hardware, ranging from accelerometers, spoof-proof GPS devices, radio frequency (RF) sensors, stealth communications, etc., which are carried out by the QRaaS division.&nbsp;
 
 
 
 
 
 Key customers and partnerships
 
 
 The company received four contracts from the US Defense Department&rsquo;s Defense Advanced Research Projects Agency (DARPA): 1) to develop a scalable cold-atom-based quantum computing hardware and software platform to demonstrate quantum advantage (April 2020); 2) to develop a Rydberg atom-based radio frequency (RF) sensor system (value undisclosed) (
 <a href="https://sp-edge.com/updates/4981">
 August 2021
 </a>
 ); 3) to accelerate the development of Coldquanta&rsquo;s atomic clock technologies, including sensing and quantum positioning systems (QPS, value undisclosed) (
 <a href="https://sp-edge.com/updates/12517">
 August 2022
 </a>
 ); and 4) to advance quantum algorithms for generative machine learning (
 <a href="https://sp-edge.com/updates/22595">
 October 2023
 </a>
 ). It also partnered with 
 <a href="https://sp-edge.com/updates/8114">
 Classiq
 </a>
 (January 2022) to jointly build 100-qubit quantum circuits, 
 <a href="https://www.prnewswire.com/news-releases/infleqtion-and-world-view-launch-new-quantum-application-testing-solution-301728567.html">
 World View
 </a>
 (January 2023) to launch a faster and cost-effective quantum application testing solution, and 
 <a href="https://sp-edge.com/updates/23915">
 the US Department of Energy
 </a>
 (DOE) (November 2023) to demonstrate quantum technologies in space.&nbsp;
 
 
 
 
 
 Funding and financials
 
 
 In its latest 
 <a href="https://sp-edge.com/updates/14183">
 Series B
 </a>
 funding round led by LCP Quantum, Infleqtion raised USD 110 million in November 2022 to fund its commercialization initiatives. Prior to that, it secured 
 <a href="https://sp-edge.com/updates/14138">
 USD 29 million
 </a>
 from the Australian state of Victoria to establish a quantum tech facility in Australia. In the company&rsquo;s 
 <a href="https://sp-edge.com/updates/8202">
 performance update for FY2021
 </a>
 , it reported a 140% increase in contract bookings. 
 
</div>

Earth-friendly biotech solutions for the textile, packaging and construction industries.

Bio-based Materials

Visolis is a biotechnology startup that uses synthetic biology to manufacture high-performance carbon-negative materials. The company combines modern synthetic biology and traditional chemical catalysis to create a range of biobased chemicals with diverse applications. Visolis’ platform has the flexibility to produce materials for various industries, from everyday chemicals to specialty offerings ranging from cosmetics to cars. The company claims that its production processes are 20%–50% less expensive than existing processes.Key customers and partnerships1) To further develop its solutions, the company collaborated with Zeon Corporation in April 2024 to advance new technologies and products in the field of specialty chemicals.&nbsp;2) In April 2023, it partnered with Ginkgo Bioworks to leverage Ginkgo’s platform for organism design and optimization to enhance Visolis' production capabilities for bio-based chemicals.3) In October 2023, the company partnered with The Goodyear Tire &amp; Rubber Company, focusing on producing isoprene from bio-based materials. This partnership, supported by a Small Business Innovation Research (SBIR) grant, aimed to leverage Visolis' technology to create sustainable synthetic rubber alternatives, which are essential for manufacturing tires and other products​.&nbsp;Funding and financialsIn January 2023, the company raised USD 8 million in a seed round led by BlueYard Capital. The funds were to be utilized to make carbon-negative materials. In February 2023, the US Department of Energy granted USD 1.7 million to Visolis.

<div>
 
 Plant-based material science company Algenesis has developed a patented technology that produces Soleic, a renewable, fully biodegradable bioPolyurethane made from algae and plants. Algenesis' Soleic bioPolyurethane can biodegrade in compost within months and emits up to 50% lower greenhouse gas emissions compared with petroleum-based alternatives.&nbsp;
 
 
 In March 2023, the company launched its own footwear brand, BLUEVIEW Footwear, which uses its Soleic material for the soles. As of October 2023, Soleic is used in soft foam applications like footwear midsoles and insoles, with plans to expand its product lines into breathable waterproof textiles and injection molded products and strengthen its supply chain by bringing more processes in-house. The company&rsquo;s aim is to offer sustainable alternatives to the 25 million tons of Polyurethane manufactured annually, which is difficult to recycle and often ends up in landfills.
 
 
 Key customers and partnerships
 
 
 In April 2021, the company partnered with Oregon Sports Angels, an eco-committed investment group, to launch Soleic by 2022. In March 2020, the company also partnered with global sandal brand REEF to develop algae-based flip-flops using Soleic. In May 2023, Algenesis joined forces with Trelleborg, a prominent engineered polymer solutions provider, to develop sustainable thermoplastic polyurethane (TPU) polymers for Trelleborg's applications, addressing customer demands for eco-friendly options.
 
 
 Funding and financials
 
 
 In October 2023, the company raised USD 5 million in a seed funding round led by First Bight Ventures.
 
 
 
</div>

<div>
 
 Illinois-based LanzaTech has developed the technology to capture carbon dioxide emissions from industrial applications and ferment them using bacteria to produce ethanol, which can be used in industrial chemicals and biofuel production. As of June 2022, LanzaTech held over 1,115 patents, and was in the early stages of commercialization. LanzaTech was reported to be focusing on two more spin-off technologies: 1) using ethanol to produce ethylene &ndash; which is used to make both polyethylene for plastic bottles as well as clothing fibers &ndash; and 2) using bacteria used in the fermentation process to produce commercial proteins.&nbsp;
 
 
 In 2018, LanzaTech partnered with Shougang Group (a leading Chinese iron and steel producer) to develop the world&rsquo;s first commercial facility to convert industrial emissions to ethanol in China. LanzaTech had been exploring several pathways to convert its sustainable ethanol into valuable commercial products, from cleaning products to product packaging to sustainable clothing.
 
 
 Key customers and partnerships
 
 
 LanzaTech&rsquo;s sustainable ethanol has been used in Swiss company Mibelle&rsquo;s cleaning products and 
 <a href="https://sp-edge.com/updates/5670">
 plastic bottles
 </a>
 , L&rsquo;Oreal&rsquo;s hair product packaging, Unilever's laundry capsules, Coty&rsquo;s fragrance products, and 
 <a href="https://sp-edge.com/updates/13265">
 On and Borealis&rsquo;s 
 </a>
 running shoes. LanzaTech had also partnered with the German chemical company BASF to develop n-octanol on a laboratory scale, the carbon transformation startup 
 <a href="https://sp-edge.com/companies/427874">
 Twelve 
 </a>
 to develop polypropylene from carbon emissions, Spray Engineering Devices Limited (SED) (a leading Indian engineering company)&nbsp; to convert bagasse to ethanol in India and 
 <a href="https://sp-edge.com/updates/9375">
 SHV Energy
 </a>
 (a Netherlands-based renewable energy solutions provider) to develop renewable propane. For textiles, the company 
 <a href="https://sp-edge.com/updates/4299">
 partnered
 </a>
 with Canadian athletic apparel company lululemon to develop yarn and fabric using recycled carbon emissions. In May 2022, LanzaTech had also 
 <a href="https://sp-edge.com/updates/10751">
 partnered 
 </a>
 with Danone (a French multinational food producer) to produce monoethylene-glycol (MEG) directly from captured carbon emissions, for use in PET bottles and fibers. 
 During mid-2023, the company partnered with &nbsp;
 <a href="https://sp-edge.com/updates/18714">
 Plastipak Packaging
 </a>
 to successfully launch the world's first polyethylene terephthalate (PET) resin, called &ldquo;PPKNatura&rdquo; made from captured carbon emissions.
 
 
 Funding and financials
 
 
 In March 2022, LanzaTech entered into a 
 <a href="https://sp-edge.com/updates/8985">
 SPAC deal 
 </a>
 to list on Nasdaq, at valuation of USD 2.2 billion. The transaction was expected to close in Q3 2022.&nbsp; In December 2021, the company had raised USD 30 million led by 
 <a href="https://sp-edge.com/updates/7279">
 ArcelorMittal
 </a>
 . LanzaTech&rsquo;s revenue was USD 26.2 million in 2021 and operating loss for the same period amounted to USD 50.4 million. The company has expected its revenue to reach USD 65 million in 2022, and a positive adjusted EBITDA by 2024.
 
 
 
</div>

<div>
 
 Based in Pennsylvania, Tandem Repeat is a synthetic biology startup that has developed a platform technology using biotechnology and material science to produce sustainable textile materials alternatives for petroleum-based fibers. The company has developed a cellulosic-based material called “Squitex” that can be made into textile fibers, coatings, and adhesives. 
 
 
 Squitex is a 100% biodegradable and recyclable material that can be used as a fabric blend to offer strength and elasticity characteristics similar to synthetic materials like Spandex. Squitex also has self-healing properties that are based on squid genes. As of August 2022, the company had not commercialized its product but had received strong interest from fashion brands. The company was negotiating partnerships for industrial-scale manufacturing and working with suppliers to launch the material.
 
 
 The company claims that its textile material has the best balance between sustainability and performance and that replacing 10% of the world’s synthetic fibers on the market with Squitex can prevent up to 30 million tons of greenhouse-gas emissions per year. 
 
 
 The company last raised USD 1 million in grant funding in October 2022 and raised USD 1.9 million in seed funding before that in August 2022, which included investors Prithvi Ventures and FoodHack. 
 
 
 
</div>

Optimizing the future of energy with software solutions

Energy Optimization & Management Software

<div>
 
 Innowatts provides supply management Software-as-a-Service (SaaS) solutions for utilities, grid operators, and energy traders. As of January 2021, Innowatts claims that it uses data from 43 million smart meters around the world to provide supply management solutions including load forecasting, load scheduling, pricing management services, etc. by using artificial intelligence and machine learning technology. As of January 2021, Innowatts clients include utilities, grid operators, and energy traders such as Just Energy (Canada), APS (US), Customer First Renewables (US), Portland General Electric (US), WGL (US), Avangrid (US), etc.
 
 
 Innowatts&rsquo; most recent funding event was a May 2019 Series B round led by Energy Impact Partners that raised USD 18.2 million. The funds helped extend applications of the company&rsquo;s SaaS solution.
 
 
 
</div>

<div>
 
 Connect DER manufactures products that facilitate integration of power and data from residential scale distributed energy resources (DER) to the grid. The company&rsquo;s most notable product is a meter collar adapter which plugs into the residential electric meter socket, which has been developed under two different forms: Smart ConnectDER and Simple Connect DER. The Smart ConnectDER is the company&rsquo;s more advanced meter collar, which has been developed with on-board electricity metering and works parallely with existing communications infrastructure of the utility. Meanwhile, the Simple Connect DER offers a more simplified option of standardizing grid interconnection.
 
 
 Additionally, the company&rsquo;s devices can also act as a connection point for rooftop solar systems, eliminating the need for circuit-breaker panel upgrades and time-consuming wiring work, thereby reducing costs. The results of a 300-unit pilot installation of devices showed that the usage of these devices in rooftop solar systems achieved cost savings totaling to USD 400-1,500, while the installation cost of the devices stood at just USD 400 per device.&nbsp;
 
 
 Moreover, the company also offers two additional products, ConnectDER Bridge and ConnectDER Cloud, which act as ancillary solutions to the company&rsquo;s smart meters. The ConnectDER Bridge connects wirelessly and securely with the Smart ConnectDER, which then establishes a path between the inverter and head-end system. The ConnectDER Cloud is a cloud software system which enables customers to access metering and operational data.
 
 
 The company raised USD 7.3 million in Series B funding in January 2020 led by Clean Energy Ventures, Skyview Ventures and Avista Development, which was intended to support the development and launch of a new version of its existing system which targets behind-the-meter batteries and plug-in electric cars. As of January 2020, the company&rsquo;s technology has been deployed by selected utilities in the US.&nbsp;
 
 
 
</div>

<div>
 
 KORE asset management system is a network operation centre which combines automation, AI-powered intelligence and human oversight to monitor, manage and optimize the performance of energy storage systems.
 
</div>

<div>
 
 Element Energy's battery management system is distributed and adaptive with power conversion dedicated to each individual module and carries out real-time (cloud-based) monitoring, diagnostics &amp; control to improve the safety, lifetime and energy throughput of batteries.
 
</div>

A new wave of meat, fish, and poultry alternatives are driving this hyper-growth industry into the mainstream.

Plant-based Meat

Meati Foods (formerly Emergy Food) is a Boulder-based startup that develops plant-based meat alternatives using a unique strain of mycelium (MushroomRoot), which claims to accurately imitate meat texture and sustainable production methods. In <a href="https://sp-edge.com/updates/22464">October 2023 </a>, the company received a patent for a composition of matter containing Neurospora crassa (mycelium), granting the company exclusivity over Neurospora crassa-based product innovations till 2039. Meati’s portfolio includes classic cutlets, crispy cutlets, <a href="https://sp-edge.com/updates/10572">classic steaks </a>, and <a href="https://sp-edge.com/updates/14211">Carne Asada steaks </a>, available at retail outlets, foodservice venues, and through the company website.In <a href="https://sp-edge.com/updates/15986">January 2023 </a>, the company unveiled its 100,000 sq ft “Mega Ranch'' which handles end-to-end functions for its Eat Meati range of products. According to the company, this facility can produce at a rate of tens of millions of pounds per year by late 2023, putting it on par and even above some of the US’s largest animal-based ranches in terms of scale.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/20067">July 2023 </a>, the company partnered with Dot Foods, the US’s largest food distributor to increase its retail distribution by tapping into Dot Foods' network of 5,200 distributors. Following this, Meati <a href="https://sp-edge.com/updates/20103">partnered </a>with PIPA, an AI company, to better understand and improve the health benefits of its plant-based meats. The collaboration aimed to utilize AI to accelerate research and gain insights into the health benefits of Meati's products made from mycelium. During the same month, Meati <a href="https://sp-edge.com/updates/20489">partnered </a>with Whole Foods Market for the national distribution of its plant-based cutlets and steaks, which were made available at 500 Whole Foods outlets across 46 states.Funding and financialsIn its latest funding round in<a href="https://sp-edge.com/updates/11768"> July 2022</a>, Meati raised USD 150 million in Series C funding led by Revolution Growth with participation from&nbsp; CPP Investments, Grosvenor, Cultivate Next, and others. The company was valued at USD 650 million following this round. As an extension to this funding round, the company received an investment of USD 22 million from Rockefeller Capital and raised a further <a href="https://sp-edge.com/updates/29235">USD 100 million</a> in May 2024, led by Grosvenor Food &amp; AgTech, with participation from Prelude Ventures, BOND, Revolution Growth, and Congruent. The funds were earmarked for boosting the company's growth trajectory and to continue its expansion plans.

<div>
 
 NovoNutrients produces alternative protein ingredients by using microbes and industrial waste. The company&rsquo;s manufacturing process involves the use of gas fermentation, which combines carbon dioxide (CO2) and hydrogen inside a bioreactor in the presence of microbes, to generate single cell protein ingredients for food and feed.
 
 
 According to the company, its patent-pending production technology yields protein products with a 73% protein content and similar qualities to animal beef at a cheaper price point compared with other plant-based production methods.
 
 
 Key customers and partnerships
 
 
 NovoNutrients has developed partnerships with other animal feed producers (Skretting) and global energy companies (Chevron) to test and validate its technology. In April 2023, the company signed a technology development agreement with Woodside Energy, an Australian energy company, to receive up to USD 3 million, subject to the completion of certain targets. This agreement supported the buildout of a commercial-scale facility capable of producing increased sample product volumes for further validation.
 
 
 Funding and financials
 
 
 The company&rsquo;s most recent funding round was in 
 <a href="https://sp-edge.com/updates/24789">
 April 2023
 </a>
 , when it raised USD 3 million from Woodside Energy to construct a pilot plant to test the feasibility of NovoNutrients' technology for commercialization. Previously in July 2021, NovoNutriets raised USD 4.7 million led by Happiness Capital. The proceeds were to be used to complete the company&rsquo;s industrial pilot program&mdash;a 1,000-liter bioreactor&mdash;followed by a 20,000-liter industrial demonstration project. 
 
 
 
</div>

Umaro Foods, formerly known as Trophic, is a California-based plant-based bacon startup. The company leverages its proprietary technology to create plant-based bacon using seaweed protein in two interconnected processes. First, the protein extract of the ocean-harvested seaweed is used to replace heme functionally. Second, is an encapsulation process that traps plant-based oils to mimic the crispiness of bacon. In June 2022 the company launched its plant-based bacon at three restaurants in the US (Sorrel Restaurant, Egg Shop, and D’Andrews bakery and cafe) with plans to debut at more restaurants later during the year.Key customers and partnershipsThe startup was also developing a technology to scale up seaweed farming for which it received an ARPA-E grant. The firm has formed strategic collaborations to advance seaweed farming in other parts of the world, including partnering with the University of New Hampshire and Otherlab to improve first-generation offshore farming technologies in the Gulf of Maine, to support the sustainable use of ocean-harvested seaweed.Funding and financialsIn its latest funding round in <a href="https://sp-edge.com/updates/27343">March 2024</a>, the company raised USD 3.8 million in seed funding led by AgFunder, with participation from other investors. The funds were earmarked for launching its seaweed-based bacon into the retail market and to help implement a continuous production process, which claims to be a more cost-effective alternative to its current batch manufacturing process.

Additive manufacturing makes objects by systematically adding material via a CAD program

Additive Manufacturing

<div>
 
 PolySpectra offers design, on-demand printing, and materials solutions for additive manufacturing (AM), targeting the medical, aerospace, automotive, apparel, and other industries. The company has developed a proprietary material named Cyclic Olefin Resin (COR) that enables 3D printing of plastics that are elastic, uncrushable (tested for 4 tons), and temperature-resistant. PolySpectra&rsquo;s design team also helps customers to design custom parts by filling out a questionnaire online. On-demand printing also works the same way, with the customer uploading the CAD design to receive a quote from PolySpectra and proceeding if both parties are in agreement.
 
 
 Key customers and partnerships
 
 
 The company partnered with Keyland Polymer in February 2022 to utilize UVMax powder coatings to create and design products in any shape and color 
 and with Nexa3D in June 2023 to offer COR materials to Nexa3D customers
 . Some of the company&rsquo;s clients include Caltech, nTopology, Asiga, Berkeley Lab, Wevolver, NSF, and Evol Components.
 
 
 
</div>

<div>
 
 Authentise is a provider of software solutions for additive manufacturing (AM). It uses a data-driven workflow management technology that helps to manage the manufacturing and production of prototypes and parts by following a process of production planning, digital parts library, monitoring, reporting, and KPI analytics. The company claims that its software helps reduce the processing time of orders by around 80% while reducing build preparation time by over 95%. In October 2022, Authentise launched the 
 <a href="https://sp-edge.com/updates/13852">
 &ldquo;Digital Design Warehouse&rdquo;
 </a>
 platform to enable users to share digital designs with ease. The platform allows users to upload any 2D or 3D file type with fully configurable additional parameters to create a personal library. The platform also allows users to share their designs with internal and external stakeholders including clients. It also announced the general availability of a rebranded workflow management suite for additive manufacturing named 
 <a href="https://sp-edge.com/updates/15305">
 FlowsAM
 </a>
 in December 2022. In June 2023, the company released 
 <a href="https://sp-edge.com/updates/19163">
 3DGPT,
 </a>
 a generative AI-based tool that allows users to ask questions on additive manufacturing.
 
 
 In February 2022, Authentise acquired a UK-based provider of self-serve workflow tools for manufacturing Elements Technology to offer customers a connected workflow management solution to manage their operations efficiently.
 
 
 Key customers and partnerships
 
 
 Authentise has partnered with several AM companies including Solukon (2021), Riven (2021), Hexagon (2021), Nebumind (2020), and Addiguru (2020) to improve its product offerings. Some of the company&rsquo;s customers include Boeing, Ricoh, 3M, Danfoss, and Carpenter Additive.
 
 
 Funding and financials
 
 
 In December 2021, an Authentise-led AM consortium was awarded a UK Research and Innovation (UKRI) grant to develop solutions that improve energy efficiency and material efficiency in ceramic and metal AM. The company has offices in Philadelphia, London, and Kyiv. 
 
 
 
</div>

Technologies that automate and optimize building operations using data-driven insights.

Smart Building Technology

<div>
 
 Tynt Technologies is a developer of a smart window to prevent glare while maintaining views and save energy. It offers ideal visual and thermal occupant comfort while minimizing building energy consumption from lighting and HVAC use. The company was founded in 2020 and is headquartered in Boulder, Colorado.
 
</div>

<div>
 
 Scanalytics provides intelligent building management solutions. Its floor sensor provides the usage data and insight required to improve the performance of event, office, commercial, and retail spaces. Its intelligent building management solutions include SoleSensor 2.0 and Atmosos. The floor sensors can be deployed to cover spaces of all sizes from small entryways to large event centers, while Atmos captures movement through the space and automatically sends data to a variety of building monitoring and management systems. The privately held company serves offices and commercial spaces, healthcare and assisted living establishments, government and service buildings, retail and shopping malls, and museums and libraries.
 
</div>

A new generation of building blocks for emerging tech

Next-gen Semiconductors

<div>
 
 SeeQC is a quantum hardware startup spun out from Hypres, a leading developer of superconductor integrated circuits. SeeQC is developing a unique digital system-on-a-chip design that integrates classical and quantum circuits into a hybrid system in order to overcome quantum computers&rsquo; current challenges. The company owns and operates a state-of-the-art superconductive chip fabrication facility and provides foundry services for superconducting devices. It also has facilities in London, UK, and Naples, Italy.
 
 
 Through the hybrid approach, SeeQC believes it can reduce the cost of quantum computers by 1/400th, provide greater control, and reduce energy requirements significantly.
 
</div>

<div>
 
 Aeluma operates as a semiconductor company that specializes in sensors and communications.
 
</div>

Using data and automation to achieve 24/7 production.

Smart Factory

<div>
 
 SparkCognition is an AI analytics startup offering four deep learning product solutions: Darwin (automated model-building software), DeepArmor (AI-powered cybersecurity), DeepNLP (NLP solution), and SparkPredict (analytics solution utilizing sensor data). These products deliver actionable insights, predict machine issues via historical maintenance data, and provide security from cyber threats. These products can be deployed across multiple industries, such as manufacturing, defense, utilities, oil and gas, and aviation. 
 
 
 SparkCognition&rsquo;s clientele comprises large companies such as Boeing, Hitachi, and British Petroleum. It has also built partnerships with Google for cloud platform services, Hewlett-Packard Enterprise to offer AI predictive maintenance on HPE Edgeline Converged Edge Systems, and OSIsoft to integrate SparkCognition&rsquo;s machine learning technology with OSIsoft&rsquo;s PI system to improve data and process data analytics.
 
 
 The company&rsquo;s most recent funding round was Series D funding worth USD 123 million in January 2022 from March Capital, Doha Venture Capital, B. Riley Venture Capital, AEI Horizon X, Temasek, and several others. The funds were intended to be used to invest in R&amp;D, accelerate sales and marketing, facilitate organic and inorganic growth, and also for the working capital requirements of the company. In March 2022, the company acquired Indian visual AI startup 
 <a href="https://sp-edge.com/updates/9370?industryIds=6">
 Integration Wizards
 </a>
 to expand its intellectual property (IP) portfolio to improve vision capabilities. The company has reported a 2x increase in revenue YoY in 2021.
 
</div>

Using online platforms, autonomy, electric and fuel-cell tech solutions to shape the future of trucking.

Truck Industry Tech

<div>
 
 Nikola Motor Company (Nikola), listed on the Nasdaq since June 2020, develops battery-electric (BEV) and hydrogen fuel cell-electric (FCEV) heavy-duty trucks, with plans to develop autonomous trucks in the future. The company has announced several zero-emission vehicle design concepts, including &ldquo;Nikola One,&rdquo; &ldquo;Nikola Two,&rdquo; &ldquo;Nikola Tre,&rdquo; and &ldquo;Nikola Reckless&rdquo; since 2016. These models are designed with the relevant hardware needed to support SAE Level-4 automation (i.e., fully autonomous vehicles limited to specific locations and/or conditions), making them capable of integrating software seamlessly in the future if needed. In January 2023, Nikola announced the launch of 
 <a href="https://sp-edge.com/updates/15793">
 hydrogen mobile fueling stations
 </a>
 which can be directly used to fuel FCEVs. 
 
 
 The company has two manufacturing facilities, one in Coolidge, Arizona (under phased development as of November 2022) and the other in Ulm, Germany, with the latter being a joint venture (JV) with the Italian alternative fuel-powered vehicle manufacturer IVECO. The company inaugurated its facility in Germany in September 2021 and aims to start production in Arizona by Q1 2023. The company also has a partnership with German multinational engineering and technology company Bosch 
 <a href="https://sp-edge.com/updates/5295">
 (September 2021
 </a>
 and 
 <a href="https://sp-edge.com/updates/20351">
 July 2023
 </a>
 ) to license the latter&rsquo;s technology for hydrogen fuel-cell power modules.
 
 
 Nikola started delivering Nikola Tre BEV pilot trucks to customers in 
 <a href="https://sp-edge.com/updates/7502">
 December 2021
 </a>
 and began alpha testing the Nikola Tre FCEV model 
 <a href="https://sp-edge.com/updates/8447">
 in February 2022.
 </a>
 The company commenced series production of Nikola Tre BEVs 
 <a href="https://sp-edge.com/updates/9351">
 in March 2022,
 </a>
 and delivered 150+ trucks by Q2 2023, to deliver 250&ndash;350 Tre BEVs to dealers in 2023. The company commenced the series production of its FCEV truck in July 2023 and had received 200 FCEV orders from 18 customers as of 
 <a href="https://sp-edge.com/updates/20745">
 August 2023
 </a>
 .
 
 
 Nikola acquired the battery supplier Romeo Power to accelerate its battery pack production 
 <a href="https://sp-edge.com/updates/11987">
 in August 2022;
 </a>
 but started liquidating its assets 
 <a href="https://sp-edge.com/updates/19845">
 in July 2023
 </a>
 due to increased costs of battery production.
 
 
 Key customers and partnerships
 
 
 As of May 2022, the company had an orderbook of 510 Nikola Tre BEV trucks and 1,010 Nikola Tre FCEV trucks. It has received orders from companies including AB InBev (800 FCEV trucks; 2018&mdash;completed alpha prototype testing 
 <a href="https://sp-edge.com/updates/10190">
 in Q1 2022),
 </a>
 Total Transportation (30 BEV and 70 FCEV trucks; 
 <a href="https://sp-edge.com/updates/3396">
 May 2021
 </a>
 &mdash;delivered its first pilot BEVs in 
 <a href="https://sp-edge.com/updates/7502">
 December 2021
 </a>
 and commenced alpha testing of FCEVs 
 <a href="https://sp-edge.com/updates/10190">
 in May 2021),
 </a>
 Hamburg Port Authority (25 BEV trucks; September 2021), PGT Trucking (100 FCEV trucks; 
 <a href="https://sp-edge.com/updates/6031">
 October 2021),
 </a>
 Tri-Eagles Sales (10 BEVs; October 2021), Heniff Transportation Systems (up to 100 BEV trucks starting with 10; 
 <a href="https://sp-edge.com/updates/7501">
 December 2021),
 </a>
 USA Truck (up to 100 BEVs starting with 10; 
 <a href="https://sp-edge.com/updates/7586">
 January 2022),
 </a>
 Saia (100 BEVs; 
 <a href="https://sp-edge.com/updates/7611">
 January 2022),
 </a>
 Covenant Logistics (10 BEVs and 40 FCEVs; 
 <a href="https://sp-edge.com/updates/7754">
 January 2022),
 </a>
 Wegmans (50 BEVs; in 1Q 2022), Arizona Lithium (1 BEV; March 2022), Univar Solutions (6 BEVs; April 2022), Biagi Brothers (15 FCEVs, January 2022) additional orders from California&rsquo;s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project 
 <a href="https://sp-edge.com/updates/7788">
 (HVIP)
 </a>
 deals (78 BEVs; by May 2022), Walmart (BEVs for trials; 
 <a href="https://sp-edge.com/updates/11001">
 June 2022),
 </a>
 Zeem Solutions (100 BEVs; 
 <a href="https://sp-edge.com/updates/14210">
 November 2022),
 </a>
 Plug Power (75 FCEVs; 
 <a href="https://sp-edge.com/updates/15365?industryIds=47">
 December 2022),
 </a>
 BayoTech (up to 50 FCEVs; 
 <a href="https://sp-edge.com/updates/20100">
 July 2023)
 </a>
 and 
 IMC (50 FCEVs; 
 <a href="https://sp-edge.com/updates/27407">
 March 2024
 </a>
 ).
 Nikola Tre BEV also got approved for the New York Truck Voucher Incentive Program (NYTVIP) 
 <a href="https://sp-edge.com/updates/11003">
 in June 2022.
 </a>
 In 
 <a href="https://sp-edge.com/updates/17991">
 April 2023
 </a>
 , Nikola announced its entrance to the Canadian market with the sale of a BEV truck and an FCEV truck to Alberta Motor Transport Association (AMTA).
 
 
 Nikola also has partnerships with several companies to provide sales and services for its commercial customers. Its dealer network includes 
 <a href="https://sp-edge.com/updates/3379">
 RIG360,
 </a>
 HOLT Truck Centers, Empire Truck &amp; Trailer, Wagner Equipment Co., Ring Power, Carter Machinery, Quinn Company, and Alta Equipment Group. It also has a partnership with the autonomous truck manufacturer, Plus, to integrate an autonomous advanced driver assistance system into its Nikola Tre BEVs and hydrogen-electric vehicles (
 <a href="https://sp-edge.com/updates/16590">
 February 2023
 </a>
 ). In 
 <a href="https://sp-edge.com/updates/21921">
 September 2023
 </a>
 , Nikola partnered with the commercial trailer manufacturer ITD Industries to expand the dealer network of its Class 8 electric trucks into Canada. 
 
 
 The company also has partnerships with renewable natural gas and fueling and charging infrastructure providers such as Nel Hydrogen (2017), APS (January 2021), Wabash Valley Resources (June 2021), TC Energy 
 <a href="https://sp-edge.com/updates/5899">
 (October 2021),
 </a>
 OPAL Fuels (September 2021), Travel Centers of America (April 2022), E.ON (a JV; 
 <a href="https://sp-edge.com/updates/13114">
 September 2022),
 </a>
 KeyState Natural Gas Synthesis 
 <a href="https://sp-edge.com/updates/14147">
 (October 2022),
 </a>
 ChargePoint 
 <a href="https://sp-edge.com/updates/14376">
 (November 2022),
 </a>
 and BayoTech 
 <a href="https://sp-edge.com/updates/20100">
 (July 2023)
 </a>
 to strengthen its hydrogen refueling and EV charging ecosystem. 
 <a href="https://sp-edge.com/updates/15365?industryIds=47">
 Plug Power
 </a>
 is also to supply 100 metric tons of hydrogen per day to Nikola, in exchange for FCEVs. 
 
 
 In 
 <a href="https://sp-edge.com/updates/25633">
 January 2024
 </a>
 , Nikola partnered with ZF Group to integrate the latter's safety technologies into Nikola's Class 8 zero-emission trucks. The integrations included ZF's advanced automatic emergency braking (AEB) system, OnGuardMAX, and their radar-based blind spot detection (BSD) system, OnSideALERT. 
 
 
 Funding and financials
 
 
 Nikola was listed on the Nasdaq in June 2020 by merging with a special purpose acquisition company (SPAC), valuing the combined entity at USD 3.3 billion. The company reported a revenue of 50.83 million in 2022, and it reported a net loss of USD 784.2 million for the year ended 
 <a href="https://sp-edge.com/updates/16646">
 December 2022
 </a>
 (USD 1.11 loss per share). 
 <a href="https://sp-edge.com/updates/10071">
 In May 2022,
 </a>
 Nikola received a USD 200 million investment from Antara Capital LP through a sale of convertible senior notes to scale truck production and tooling setup, accelerate the development of hydrogen infrastructure, and for general corporate expenses. In 
 <a href="https://sp-edge.com/updates/17991">
 April 2023
 </a>
 , Nikola announced its entrance to the Canadian market with the sale of a BEV truck and an FCEV truck to Alberta Motor Transport Association (AMTA).
 
 
 
 The company subsequently announced (in March 2023) that it plans to 
 <a href="https://sp-edge.com/updates/17513?industryIds=47">
 raise USD 100 million through a secondary stock offering
 </a>
 to the public, to use in meeting its working capital needs and for other general purposes. It also received a USD 41.9 million grant from the California Transportation Commission (CTC) 
 <a href="https://sp-edge.com/updates/19875">
 in July 2023
 </a>
 to build open-access, heavy-duty hydrogen refueling stations across Southern California. In 
 <a href="https://sp-edge.com/updates/20608">
 August 2023
 </a>
 , Nikola received an additional USD 16.3 million in regulatory funding to build its hydrogen refueling stations.&nbsp;It also won USD 165 million in an arbitration case against its former executive chairman, Trevor Milton 
 <a href="https://sp-edge.com/updates/23029">
 in October 2023.
 </a>
 
</div>

AI-based solutions for evolving digital threats

Next-gen Cybersecurity

<div>
 
 Operant Networks provides a secure access service edge (SASE) OT solution for the energy sector. The SASE solution uses named data networking and applies zero trust architecture principles to each data packet for security and observability.
 
 
 Since 2016, the company has been funded by the US Department of Energy and the Air Force. The company claims to have already deployed its solutions to critical infrastructure organizations in the energy sector.
 
 
 Funding and financials
 
 
 In September 2022, the company 
 <a href="https://sp-edge.com/updates/13202">
 raised USD 3.8 million 
 </a>
 in a seed funding round led by Constellation Technology Ventures. This announcement also marked the company&rsquo;s emergence from stealth.
 
</div>

Promises increased productivity, cost-efficiency, and competitiveness in the legal industry

LegalTech

<div>
 
 Veritone is an artificial intelligence company that has developed aiWARE, an AWS-certified platform offering orchestrated, cognitive computing to transform and analyze structured and unstructured data for clients in a variety of markets, including media and entertainment, legal, compliance, and government. The open platform integrates an ecosystem of cognitive engines, which can be orchestrated together, and a suite of proprietary applications, to reveal unprecedented, multivariate insights from linear files such as radio and TV broadcasts, surveillance footage and public and private content globally. Veritone is the presenting sponsor of the Artificial Intelligence Marketplace at CES and has been recognized by Oracle for Excellence in Application Development.
 
</div>

Using AI to mimic and understand human language

Natural Language Processing Tools

Enhancing seed and crop traits via biotechnology

Crop Biotech

<div>
 
 AFINGEN is an agriculture biotechnology company that provides sustainable solutions to meet the demand for natural resources, such as food, fiber, fuel and feed. The AFINGEN Positive Feedback Loop (APFL) platform provides fast growth and more biomass, better seed and grain yields, root development and processability and digestibility. The company also provides solutions for reducing cow methane emissions by developing and scaling up anti-methane biomass technology. It has created a biotech platform that generates new varieties that capture more carbon dioxide and enhance crop yields. AFINGEN also offers solutions for reducing yearly losses incurred due to lethal bloats.
 
</div>

Next-gen Displays

<div>
 
 Develops quantum dot technology for displays and other applications. The firm claims to develop 100% heavy metal free quantum dot TVs and claims its slide-in quantum dot sheet makes it easy for manufacturers to integrate it into any display stack. The firm claims to have shipped 70 million+ units.&nbsp;
 
</div>

Using real-time data to create dynamic virtual representations of the real world

Digital Twin

<div>
 
 PassiveLogic is developing a digital twin platform to autonomously manage the whole building life cycle. The platform uses sensors, software, and on-premise devices to create a system model that generates a digital twin to perform simulations of equipment on the buildings.&nbsp;
 
 
 The company&rsquo;s product components include 1) a Hive controller, which is plug-and-play hardware that connects sensors, equipment, and devices to enable the building platform technology, 2) Cell Modules, which act as cells in the Hive controller to determine the input/output, and 3) Swarm sensors, which gather data and insights such as air temperature and humidity to the Hive controller in real-time.&nbsp;
 
 
 The company is operating in a B2B business model, targeting companies in the buildings and building infrastructure industry. The company aims to expand the technology to the energy, logistics, and supply chain industries.&nbsp;
 
 
 Key customers and partnerships
 
 
 In August 2022, the company partnered with Pacific Northwest National Laboratory to develop an AI to enable buildings to optimize their operations.&nbsp;
 
 
 Funding and financials
 
 
 The company raised USD 15 million in September 2022 in a venture round from Nvidia. The new funds were to be used to increase the firm&rsquo;s staff count to 140 by 2023.&nbsp;
 
 
 
</div>

Augmenting the mining value chain with technology and automation

Mining Tech

Empowering the modern soldier with cutting-edge technology

Military Tech

<div>
 
 SparkCognition is an artificial intelligence technology startup that builds AI technology solutions for industrial applications. A highly awarded company recognized for cutting-edge technology, SparkCognition develops AI-powered cyber-physical software for the safety, security, and reliability of IT, OT, and the IoT. 
 
 
 The company's technologyis capable of harnessing real-time sensor data and learning from it continuously, allowing for more accurate risk mitigation and prevention policies to intervene and avert disasters. SparkCognition&rsquo;s cognitive software, DeepArmor, is utilized to prevent and detect malware with a high level of accuracy and efficacy by using advanced machine learning and artificial intelligence. They help customers analyze complex data, empower decision making, and transform human and industrial productivity with award-winning machine learning technology and expert teams focused on defense, IIoT, and finance.
 
</div>

Preserving aquatic life for future generations

Sustainable Aquaculture

<div>
 
 NovoNutrients is working to turn waste CO2 into high-value, low-cost proteins and additives for food and feed by developing proprietary microbes and advanced gas fermentation systems.
 
</div>

Avium develops fuels and chemicals from CO2, water, and renewable energy. The company was founded in 2017 and is based in Lawrence, Kansas.

Spruce Root is a non-profit community development financial institution that provides financing services, assistance, and business coaching.

Moment Energy creates commercial-scale, sustainable energy storage solutions (ESS) from repurposed electric vehicle (EV) batteries. Our ESS helps you achieve your energy and sustainability goals. By using an ESS, you will reduce energy costs, replace fossil fuels, and facilitate the adoption of renewables.  The system comes in 288kWh building blocks stackable up to 1MWh. Moment Energy's solution has various applications. Commercial and industrial facilities and EV charging networks can significantly reduce utility demand charges by pairing Moment Energy's ESS with an inverter, which levels out peaks in electricity use. Additionally, our systems are a cost-effective alternative to upgrading power infrastructure on EV charging networks. Our ESS delivers performance similar to new lithium-ion batteries at a fraction of the cost. Moment is a leader in Battery Management Systems (BMS) with it's Google Validated AI systems giving it the ability to be the safest and most flexible BMS in the market extending life time of all battery chemistries for decades. Moment Energy has developed one of North America's top module level and pack level testing facilities allowing it to work with countless battery suppliers on R&D and faster and more accurate life time degradation testing. Moment has collected one of the world's largest real world battery degradation datasets leading in AI Pre-trained Transformer models for batteries.

University of Kentucky Research Foundation is a non-equity-seeking pre-seed accelerator program that aims to launch nationally competitive Kentucky startups.

Overseas Shipholding Group, Inc. is a leading provider of energy transportation services. We deliver crude oil and petroleum products throughout the world. We own and operate a combined fleet of 24 vessels registered in the United States. Our well maintained fleet and commitment to high quality, incident-free service positions us as a preferred cargo carrier of major oil and gas companies, refiners and traders throughout the world.

CleanTech Strategies (CTS) is a subject matter expert firm specializing in energy storage, power electronics, microgrids, renewables, and advanced materials.

Verde Clean Fuels is a company that produces renewable energy that transforms synthesis gas, also known as syngas, into liquid hydrocarbons that can be used to make gasoline using an original and proprietary liquid fuels technology process. Syngas is derived from various sources, including biomass, MSW, mixed plastics, and natural gas, including synthetic natural gas.

Highland Materials technology manufactures the industry's lowest-cost poly silicon and aluminium products for application in solar, battery, automobile, aerospace, and other markets.

It offers end-to-end capability on all things cyber- education, research, policy, and operations.

Cabot is a global performance materials company that delivers a broad range of products and solutions to customers. Their primary products are rubber and specialty grade carbon blacks, inkjet colorants, fumed metal oxides, aerogel, tantalum and related products, and cesium formate drilling fluids, among others. They provide performance solutions that solve customers' challenges today while preparing them to meet tomorrow’s needs.  Cabot Corporation was selected as a Bronze Winner for the Ninth Annual Team Massachusetts Economic Impact Awards and also CR Magazine’s 100 Best Corporate Citizens for 2012. The company was founded in 1882 and is headquartered in Boston, Massachusetts, United States.

The University of Arkansas at Little Rock is a proud academic institution providing excellence in intellectual pursuit, and courage in cultural understanding. The Little Rock campus of UArk offers bachelor’s, master’s, and doctoral programs to students who are committed to their studies. With over 100 programs of study, the university provides students with stellar faculty and student services. Bachelor’s degrees can be earned in almost every discipline, while graduate programs include a long list of master’s degrees, and includes doctorate degrees in Audiology, Education, and Law, just to name a few. Though the University of Arkansas at Little Rock is proud of its academic offerings, faculty and staff understand how important college life and personal growth are to their students. Student services offered by the university include online courses, academic advising, counseling, health services, and much more. University of Arkansas at Little Rock serves as a cultural icon to the citizens of Little Rock, offering art galleries, a radio station, television station, and speech and hearing clinics for the community. University of Arkansas at Little Rock is proud to celebrate the city’s rich civil rights history, and encourages inclusive diversity and intellectual challenge in every student.

BRITE is Ohio’s only energy incubator, focused on supplying energy and tech startups with the guidance, resources and connections to get their products off the ground. While focusing on energy technologies and products & services including advanced materials, electronics, efficiency and control systems, BRITE’s entrepreneur in residence program means they can provide startups with the expertise necessary to enable their long-term success. Startups and companies of all sizes can utilize the BRITE Energy Labs, a well-equipped lab facilitating testing and development of energy storage and IoT solutions. Alongside core services for startups, BRITE offers a variety of event space spaces and BRITE Coworking memberships. BRITE houses 19 physical tenants in downtown Warren, Ohio. They have assisted over 200 startups since 2012 and has helped them secure over $60 million in funding.

The Dominion Resources Innovation Center exists to help innovative start-ups get to their goals…smarter. faster. better. The Center is more than a co-working environment; it is a community of entrepreneurial and creative thinkers seeking to accelerate the growth of their technology-based business in a supportive, highly-networked, work-not-play, environment.

Battery Council International (BCI) is a trade association for the battery business that teaches people about the importance of batteries in powering daily life.

Mott Corporation is an engineering company providing filtration and flow control products.

MTR is a manufacturing company that develops and produces membrane-based separation systems for various industries. The company offers a comprehensive variety of gas separation systems for petrochemical plants, refineries, and gas processing plants. They are also custom engineered to meet the application and industry.

Ørsted develops and maintains offshore and onshore renewable energy farms, energy storage facilities, and bioenergy plants. The company's vision is a world that runs entirely on green energy. A decade ago, Ørsted initiated its transformation from a black to a green energy company as DONG Energy. Since then, the company reduced its coal consumption by 73% and decided to fully phase out coal by 2023. Ørsted becomes a global leader in offshore wind with a market share of 25%, currently powering 9.5 million people.

Unilever produces and supplies fast moving consumer goods in food, and home and personal care product categories in Europe, the Americas, Asia, and Africa. It offers soups, bouillons, sauces, snacks, mayonnaise, salad dressings, olive oil, margarines, spreads, and frozen foods, as well as cooking products, such as liquid margarines under Knorr, Hellmann's, Becel/Flora, Rama/Blue Band, Calvé, WishBone, Amora, Ragù, and Bertolli brands. The company also provides ice creams under the international Heart brand, including Cornetto, Magnum, Carte d'Or and Solero, Wall's, Kibon, Algida, Ola, Ben & Jerry's, Breyers, Klondike, and Popsicle brands; tea-based beverages under Lipton, Brooke Bond, and PG Tips brands; weight management products under Slim-Fast brand; and nutritionally enhanced products under Annapurna and AdeS/Adez brands. In addition, it offers personal care products, including deodorants, anti-perspirants, skin care, and hair care products under Dove, Lux, Rexona, Sunsilk, Axe, Pond's, Suave, Clear, Lifebuoy, and Vaseline brands, as well as oral care products under Signal and Close Up brands. Further, the company provides laundry products, such as tablets, powders, liquids, and soap bars under Omo, Surf, Comfort, Radiant, Skip, and Snuggle brands; and household care products, including surface cleaners and bleach under Cif, Domestos, and Sun/Sunlight brands. It also offers solutions for professional chefs and caterers.   The company sells its products through its sales force, independent brokers, agents, and distributors to chain, wholesale, co-operative, and independent grocery accounts; and food service distributors and institutions. It also distributes its products through a network of distribution centers, satellite warehouses, company-operated and public storage facilities, and depots.

Cliffs Natural Resources, formerly Cleveland-Cliffs, is a Cleveland, Ohio business firm that specializes in the mining and beneficiation of iron ore and the mining of coal. The firm is an independent company whose shares are traded on the New York Stock Exchange. Cliffs’ primary operations are organized and managed according to product category and geographic location: U.S. Iron Ore, Eastern Canadian Iron Ore, Asia Pacific Iron Ore, and North American Coal. Cleveland-Cliffs operates several mines and pellet plants in the Great Lakes region, serving customers in the steel industry. In addition to iron ore, the company also produces and sells steel products.

O-I Glass is a glass container manufacturer. The Company is also a partner for various food and beverage brands. It provides glass packaging for beer, wine, spirits, food, non-alcoholic beverages, cosmetics, and pharmaceuticals. It also produces tableware and stemware for household use. The Company manufactures glass containers in a range of sizes, shapes, and colors.

Eastman Chemical Company (Eastman) is a global specialty chemicals company that produces a range of advanced materials, chemicals and fibers that are found in products people use every day. Eastman has over 40 manufacturing sites in 16 countries and equity interests in joint ventures that supply chemicals, plastics, and fibers products to customers throughout the world. Eastman has a portfolio of specialty businesses that hold positions and provide products that enhance performance in a variety of end markets such as transportation, building and construction, and consumables. Eastman management believes that the Company's end-market diversity is a source of strength, as these markets are benefiting from longer-term global trends such as energy efficiency, a rising middle class in emerging economies, and increased health and wellness. On July 2, 2012, the Company completed its acquisition of Solutia Inc. (Solutia).

Pajarito Powder, a U.S. based, venture-backed company, developed and manufactures advanced catalysts and Engineered Catalyst Supports for the rigorous power density requirements of Fuel Cell Electric Vehicles (FCEV). Other products include Engineered Electrolyzer Catalysts (EEC) and Precious Metal Free (PMF) catalysts for next generation applications that require the lowest possible price-per-kW with reliable stability. The Pajarito Powder team brings decades of first-class catalyst development and manufacturing experience to support the company mission: to provide high-performance, affordable catalyst technology. Supported by a comprehensive portfolio of both internally developed and externally licensed intellectual property, Pajarito Powder has created a manufacturing platform designed to provide contemporary solutions for the automotive industry, as well as long-term catalyst innovation into the future.

Heidelberg Materials is a manufacturing company that manufactures building materials such as cement, concrete, and aggregates.

SSAB is a global leader in value added, high strength steel. SSAB offers products developed in close cooperation with its customers to reach a stronger, lighter and more sustainable world.  SSAB is a highly specialized global steel company with approximately 16,000 employees in more than 50 countries. Our production facilities are located in Sweden, Finland and the US. We have smaller production sites and steel service centers located around the world. These facilities include a finishing line in Shanghai for customers in Asia and steel service centers in the Nordic countries and Baltic states.   SSAB’s steels help to make end products lighter and increase their strength and lifespan.  SSAB has a cost-efficient and flexible production system. SSAB’s production plants in Sweden, Finland and the US have an annual steel production capacity of 8.8 million tonnes. The company also has capacity to process and finish various steel products in China and a number of other countries. In Sweden and Finland, production is integrated into a blast furnace process. In the US, it is scrap-based production in electric arc furnaces.

Skyven Technologies is an energy-as-a-service company with a mission to decarbonize industrial process heat. Skyven works with manufacturers in hard-to-decarbonize industries to reduce their onsite CO2 emissions by delivering clean, emissions-free process heat at prices lower than natural gas. Skyven installs their latest decarbonization technology, including the Arcturus line of steam generating heat pumps, with no CapEx cost or process disruption for the manufacturer. Skyven monitors carbon emissions in real time and bills only for the clean energy delivered by their systems. They provide dashboards showing real-time data-backed savings and carbon metrics.

Technip Energies offer innovative solutions from A to Z through cutting-edge technologies, unique design, leading engineering capabilities, construction expertise, and equipment for the energy market. The company has a demonstrated track record in green projects, including hydrogen and biofuels;  energy infrastructure both onshore and offshore (LNG, downstream, sustainable chemistry, hydrogen, CO2 management and marine infrastructure.

Robot Nose is dedicated to rethinking sensors and detectors from the ground up.  Laboratory instruments excel at measuring what is in the air, but are bulky and hard to use.  Portable instruments typically are just badly compromised versions of laboratory instruments.  Our approach is to use a newly developed additive manufacturing approach to create very sensitive and selective detectors of toxic gasses.  This additive approach has an unparalleled combination of speed and resolution, making it interesting for many other applications as well.

The Chemours Company (NYSE: CC) helps create a colorful, capable and cleaner world through the power of chemistry. Chemours is a global leader in titanium technologies, fluoroproducts and chemical solutions, providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining and oil refining operations and general industrial manufacturing. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™ and Nafion™. Chemours has approximately 8,000 employees across 35 manufacturing sites serving more than 5,000 customers in North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.

Nuvera Fuel Cells, LLC is a manufacturer of heavy-duty, zero-emissions engines for mobility applications. With facilities located in the U.S. and Europe, Nuvera provides clean, safe, and efficient products designed to meet the rigorous needs of industrial vehicles and other transportation markets.

Trident Royalties promotes economics for the company's shareholders through value-added transactions involving precious, base, battery, and bulk materials. They provide investors with exposure to a wide range of mining commodities, with a preference for properties that are in production or near production. It differs from the bulk of its counterparts, who largely prefer precious metals, in that it has a diverse portfolio of commodities.

Thomas Jefferson National Accelerator Facility (Jefferson Lab) is one of 17 national laboratories funded by the U.S. Department of Energy. The lab also receives support from the City of Newport News and the Commonwealth of Virginia.  The lab’s primary mission is to conduct basic research of the atom's nucleus using the lab’s unique particle accelerator, known as the Continuous Electron Beam Accelerator Facility (CEBAF). Jefferson Lab also conducts a variety of research using its Free-Electron Laser, which is based on the same electron-accelerating technology used in CEBAF.  In addition to its science mission, the lab provides programs designed to help educate the next generation in science and technology, and to engage the public.  Managing and operating the lab for DOE is Jefferson Science Associates, LLC. JSA is a limited liability company created by Southeastern Universities Research Association and PAE Applied Technologies

Lithium Americas is engaged in the exploration and evaluation of lithium, potassium, and other mineral resources in South America. The company has rights over approximately 161,000 hectares in five salt lakes in the Jujuy and Salta provinces of Argentina. Its principal property is the Cauchari-Olaroz Lithium Project covering an area of approximately 81,000 hectares in adjacent to Cauchari and Olaroz salt lakes located in Jujuy, Argentina. Lithium Americas was incorporated in 2009 and is headquartered in Toronto, Canada.

Verdagy is revolutionizing water electrolysis technology to facilitate large-scale green hydrogen production. Their solution achieves the lowest upfront capital costs and offers a competitive unit economics for production. Located in Moss Landing, California, Verdagy operates laboratory and pilot plant facilities to advance and rapidly scale its technology platform.

Plug Power is a hydrogen and fuel cell company that provides clean hydrogen and zero-emission fuel cell solutions. Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell turnkey solutions. The Company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while meeting sustainability goals. Plug Power created the first commercially viable market for hydrogen fuel cell technology. As a result, the Company has deployed over 40,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. Plug Power’s vertically-integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart.  The company was founded in 1997 and based in Latham, New York.

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.

NEL Hydrogen provides solutions that allow people and businesses to generate, store, and distribute hydrogen from renewable energy. It supplies energy-efficient hydrogen solutions for industrial applications, hydrogen fuelling stations, and distributed energy systems worldwide. NEL Hydrogen is a Norwegian company based in Norway and has also been known as Norsk Hydro Electrolysers (NHEL) and Hydrogen Technologies.

Ballard Power Systems, Inc. engages in the design, development, manufacture, sale, and service of hydrogen fuel cell products for materials handling, residential cogeneration, backup power, and heavy-duty applications. It operates in three segments: Power Generation, Automotive, and Material Products. The Power Generation segment offers fuel cell products and services for material handling, backup power, and residential cogeneration purposes. The Automotive segment provides fuel-cell products and services for fuel-cell cars, vans, and buses. The Material Products segment offers carbon fiber products primarily for automotive transmissions and gas diffusion layers for fuel cells.

LactaLogics is a supplier of human milk-based nutrition products. They provide human milk processing, human milk sterilization, human milk fortification, breast milk supplier, and breast milk donor screening services. They address inquiries through phone calls and emails.

Umaro Foods specializes in developing a plant-based protein source from ocean-farmed seaweed.

United Power is a member-owned, not-for-profit electric cooperative serving more than 92,000 homes and businesses along Colorado’s northern front range. United Power was the only Colorado utility to be listed in the top ten and is among the smallest of the utilities to make the list. The survey ranked battery storage initiatives from a mix of investor-owned, municipal and cooperative utility systems – including some of energy companies in the country. United Power is a member-owned electric cooperative serving just over 92,000 meters and is currently operating two Tesla battery storage systems—one of which is the largest battery storage system in Colorado.

General Electric Company offers infrastructure and financial services worldwide. It operates in various segments, including power and water, oil and gas, energy management, aviation, healthcare, transportation, appliances and lighting, GE capital, and more. Its power and water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment. Its oil and gas segment provides surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders, reactors, industrial power generation, and auxiliary equipment. The company’s energy management segments offers plant automation hardware, software, and embedded computing systems. Its aviation segment offers jet engines; aerospace systems and equipment; and replacement parts and repair and maintenance services. The healthcare segment provides medical imaging, software and information technology (IT), patient monitoring and diagnostics, drug discovery, biopharmaceutical manufacturing technologies, and performance improvement solutions. Its transportation segment offers freight and passenger locomotives, and diesel engines for rail, marine, and stationary power applications; railway signaling and communications systems; underground mining equipment; motorized drive systems; IT solutions; and replacement parts and value added services. The appliances and lighting segment manufactures home appliances; and lighting products for commercial and industrial applications. Its capital segment offers commercial loans and leases, fleet management, financial programs, credit cards, personal loans, and other financial services. General Electric Company was founded in 1892 and is headquartered in Fairfield, Connecticut.

The Electric Power Research Institute, Inc. (EPRI) conducts research and development relating to the generation, delivery and use of electricity for the benefit of the public.

Kansas State University is to encourage outstanding teaching, research, and service that creates highly educated and talented citizens vital to developing Kansas, the country, and the global community.

Stony Brook University is a public sea- and space-grant research university. It offers a wide selection of undergraduate and postgraduate courses.  Since its establishment in Stony Brook, the university has expanded to include more than 200 major buildings with a combined area of more than 11 million gross square feet across 1,454 acres of land. In 2001, SUNY Stony Brook was elected to the prestigious Association of American Universities, joining four private universities (Cornell, Columbia, NYU, andRochester) and one public university (SUNY Buffalo) elsewhere in its state. It is also a member of the larger Universities Research Association for which its president Samuel Stanley is a council president.  The university owns Stony Brook Medicine, co-manages the Brookhaven National Laboratory, and has four business incubators across the region. The university has a regional economic impact of over $7.2 billion annually accounting for nearly 4% of economic activity in eastern Long Island.  Stony Brook University was founded in 1957 in Oyster Bay as State University College on Long Island.

Iowa State University is the nation's most student-centered public research university. 100 majors. 800 clubs. 1 amazing adventure.   Iowa State is an international, prestigious university with a friendly welcoming personality. More than 31,000 students choose from 100 majors, study with world-class scholars and hone their leadership skills in more than 800 student organizations.   Iowa State offers a great environment where students can enjoy reaching their potential and discovering their passions. It's a culturally diverse student body with students from all 50 states and more than 110 countries.

Georgia Tech Research Corporation are the contracting entities and supporting organizations for research at Georgia Tech. They promote research through stewardship of funds for sponsored research and financial support of research activities.

More than 175 years ago, Albert Gallatin, the distinguished statesman who served as secretary of the treasury under Presidents Thomas Jefferson and James Madison, declared his intention to establish ''in this immense and fast-growing city ... a system of rational and practical education fitting for all and graciously opened to all.'' Founded in 1831, New York University is now one of the largest private universities in the United States. Of the more than 3,000 colleges and universities in America, New York University is one of only 60 member institutions of the distinguished Association of American Universities. From a student body of 158 during NYU's very first semester, enrollment has grown to more than 50,000 students at... ... three degree-granting campuses in New York City, Abu Dhabi, and Shanghai, and at study away sites in Africa, Asia, Australia, Europe, North and South America. Today, students come from every state in the union and from 133 foreign countries. The faculty, which initially consisted of fourteen professors and lecturers (among them artist and inventor Samuel F. B. Morse), now totals over 4,500 full-time members whose research and teaching encompasses arts and media; business; law; education; health and medicine; humanities and social sciences; science, technology, engineering, and math; public administration; the ancient world; and continuing professional studies. With more than 2,500 courses offered, the University awards more than 25 different degrees. Although overall the University is large, the individuals schools and colleges are small- to moderate-sized units – each with its own traditions, programs, <a href=''https://www.dissertationcorp.co.uk/''>dissertation help</a> and faculty – and there are many communities to be found within the NYU community based on interests, activities, and shared experiences. The center of NYU is its New York City campus in the heart of Greenwich Village. One of the most creative and energetic cities in the world, New York City has attracted generations of artists, entrepreneurs, and intellectuals. NYU, in keeping with its founder’s vision, is “in and of the city”: the University – which has no walls and no gates – is deeply intertwined with New York City, drawing inspiration from its vitality.

Texas A&M University-Kingsville is a public research university based in Kingsville.

Authentise is the leader in process automation software for additive manufacturing. The core product is a Manufacturing Execution System that connects seamlessly to data from 3D printers and other digital manufacturing devices and uses it to automate actions such as order status updates, traceability reporting, quoting and more. Clients include Ricoh, Danfoss, and others. The company is based in Mountain View and was started at Singularity University.

SK Siltron pioneers next-generation semi-conductor technology innovation based on world-class technology.

CloudSci is comprised of a skilled group of individuals with varied skill sets, including experience in aerosol research, indoor air quality, cloud microphysics, optical physics, data science, and more.

Xelera Research offers a developing global demand for expertise in advanced accelerator development.

Alphacore is a leading-edge process technology nodes for demanding conventional and harsh-environment applications.

Southwest Sciences performs research and develops technology in combustion, atmospheric chemistry, imaging & optical sciences.

Aerosol Dynamics is an R&D company specializing in the measurement of airborne particles.

MetroLaser develops and delivers optical diagnostic solutions. Their products are holo4d software, robust tools, schlieren instruments, analog schlieren scope, portable projection schlieren system, digital focusing schlieren, custom schlieren systems, and more. They serve a range of applications in defense, aerospace, structural mechanics, noise and vibration.

InnoSys manufactures electronic systems and applications. Their products include travelling wave tubes and amplifiers, voltage switching power supplies, millimetre wave power modules, and vacuum electronic devices. They also provide design services.

CapeSym provides novel radiation detection solutions.

Infleqtion, with offices in the United States, United Kingdom, and Australia, delivers high-value quantum information precisely where it is needed. By operating at the Edge, our software-configured, quantum-enabled products deliver unmatched levels of precision and power, generating streams of high-value information for commercial organizations, the United States, and allied governments. With 17 years of ColdQuanta's pioneering quantum research as our foundation, our hardware products and AI-powered solutions address critical market needs in positioning, navigating, and timing, global communication security and efficiency, resilient energy distribution, and accelerated quantum computing. Learn how Infleqtion is revolutionizing how we communicate, navigate, and discover at www.Infleqtion.com and connect with us on LinkedIn.

ZoNexus develops electron microscopy tools.

Osazda Energy provides materials engineering solutions to improve solar cell and solar module reliability. Its specialized metal matrix composites (MMC) have been proven to electrically bridge stress-induced cracks that appear in solar cells over time; the composites also self-heal to regain electrical continuity. The company was founded in 2016 and is based in Albuquerque, New Mexico.

ACT is a premier thermal management company that focuses on the design and manufacturing of cooling technologies.

Direct Electron develops and delivers cameras for electron microscopy.

Amethyst Research specializes in electro-optical materials processing, growth and device design.

Amsen Technologies mission is to develop solar fuels generators that convert water and carbon dioxide to storable chemical fuels using sunlight would be substantially beneficial for energy production and storage.

Coreform provides simulation software for the automotive, marine, and aerospace industries.

Continuum Dynamics provides quality engineering services and technical solutions for government and industry. They provide research and development activities, including software development, licensing, engineering, design services, and test support for multiple aerospace technologies, air vehicle design and simulation, thermo-hydraulic systems supporting electric power generation, wind turbine analysis, and agrochemical applications.

Atlantic Quantum develops scalable quantum computers to tackle the world’s hardest computational challenges. Founded in 2022, Atlantic Quantum believes that fault-tolerant quantum hardware is the key to making progress in quantum computing.

DRS research provides materials for nuclear applications.

OptiPro Systems manufactures & designs optical fabrication machines, metrology systems as well as grinding, polishing & measuring machinery.

Carbon Solutions provides low-carbon energy research and development and software. They offer carbon management services. They support integrated CO₂ capture, transport, and storage solutions. They offer market assessments, project feasibility, and project design services.

HighRI Optics, Inc. develops advanced optical materials and novel optical technologies to enable advanced photonics application. They proprietary and patented high refractive index optical materials offer a solution for mass manufacturing of optical elements with superior optical performance. Simpler and superior light manipulation can be achieved by fiber nanoimprinting technology.

American Physics and Technology works on advanced neutron supermirror optics in collaboration with Oak Ridge National Laboratory.  It has been awarded a 2-year, Phase ll SBIR contract by the Department of Energy. On November 29, 2018, they reached a major milestone in their SBIR project with the Department of Energy -- American Physics and Technology, with the assistance of Rigaku Innovative Products, Exogenesis Corporation, and Valley Design Corporation,  has successfully manufactured and delivered advanced neutron supermirrors to Oak Ridge National Laboratory (ORNL).  These are the first supermirrors to be manufactured using GCIB and ANAB surface processing technology.  The supermirrors will be tested at ORNL's Spallation Neutron Source (SNS) during next year's operations.

Faraday Technology develops and commercializes novel electrochemical technologies. They also manage the intellectual property assets developed from the application of the faradayic process to provide their customers and strategic partners with a competitive advantage.

EnviTrace is a creation of cutting-edge machine learning and artificial intelligence (AI/ML) techniques and technologies.

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