Microsoft Climate Innovation Fund

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

Alternative Energy

Twelve (formerly Opus 12) is a carbon transformation company developing chemicals, materials, and fuels using carbon dioxide, that are otherwise produced using fossil fuels. The company’s core technology is the Membrane Electrode Assembly (MEA), a shiny black leaf that transforms CO2 into feedstocks. This proprietary catalyst electrifies CO2 and water and produces oxygen, syngas, and water as outputs. The MEA is arranged in stacks that can be scaled to form Opus, an industrial-scale carbon transformation system that can be plugged into industrial systems to use CO2 from the point of emission or from direct air capture.As of March 2024, Twelve was constructing its first carbon transformation facility known as “Airplant” in Moses Lake, Washington. The facility will produce E-Jet, Twelve's Power-to-Liquids sustainable aviation fuel (SAF), and is set to be operational towards the end of 2024.Key customers and partnershipsAs of March 2024, Twelve was taking pre-orders for its carbon transformation solution, having partnered with several automotive, household, apparel, and other companies, including Mercedes-Benz, Procter &amp; Gamble, and NASA. In October 2021, Twelve partnered with LanzaTech to develop polypropylene from carbon emissions. During the same month, the company partnered with Emerging Fuels Technology (EFT) and ​​the US Air Force’s Operational Energy Office to produce its first batch of fossil-free jet fuel, called E-Jet. In November 2021, Twelve signed a memorandum of understanding (MoU) with Exosonic, to develop SAF compatible with Exosonic’s jet engines.In <a href="https://sp-edge.com/updates/11651">July 2022</a>, Twelve partnered with Alaska Airlines and Microsoft to supply SAF for a commercial flight demonstration. In<a href="https://sp-edge.com/updates/13238"> September 2022</a>, Twelve collaborated with Virgin Voyages to launch E-Marine, Twelve’s sustainable marine fuel solution. In <a href="https://sp-edge.com/updates/27110">February 2024</a>, the company signed a 14-year agreement with International Airlines Group (IAG) to produce 260 million (~785,00 tons) gallons of SAF to support five European airlines, including British Airways, Aer Lingus, Iberia, LEVEL, and Vueling.

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.

Canada-based Eavor is working on making geothermal energy scalable by mitigating or eliminating issues that have hindered traditional geothermal solutions in the past. Eavor’s proprietary solution,Eavor-Loop, operates by circulating a benign working fluid that is completely isolated from the environment in a closed-loop through a massive subsurface radiator. This “radiator” collects heat from the natural geothermal gradient of the Earth via conduction at geologically common and drilling accessible rock temperatures. Unlike traditional geothermal, Eavor is not burdened with exploratory risk or limited to niche geographies with the need for highly permeable aquifers at volcanic-like temperatures.Since 2019, Eavor has been operating a pilot project in Canada. In January 2023, the company also completed a next-generation geothermal demonstration project, <a href="https://sp-edge.com/updates/16064">Eavor-Deep</a>, in New Mexico. In July 2023, Eavor began drilling operations at its first commercial Eavor-Europe geothermal project in Bavaria, Germany. An organic Rankine cycle (ORC) power plant is also being developed alongside the drilling operations in partnership with Turboden. Energy production at the facility is expected to begin in Q4 2024.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/7293">December 2021</a>, Eavor partnered with Deep Energy Capital to deploy its advanced geothermal energy solution Eavor-Loop. The two companies once again partnered in <a href="https://sp-edge.com/updates/15223">December 2022</a>, to develop, finance, construct, and operate at least five projects totaling up to EUR 1 billion (~USD 1.06 billion) from Eavor’s European and North American project pipeline.In <a href="https://sp-edge.com/updates/13199">September 2022</a>, Eavor signed a contract with KCA Deutag for the latter to provide two drilling rigs for the construction of Eavor’s first commercial Eavor-Loop system in Germany, which is set to begin in 2023. In <a href="https://sp-edge.com/updates/13801">October 2022</a>, Eavor entered into an agreement with Chubu Electric Power, with the latter set to make a direct investment in Eavor in support of the commercialization of Eavor-Loop technology.In <a href="https://sp-edge.com/updates/17386">March 2023</a>, the company partnered with Sonoma Clean Power to develop up to 200 MWe of new geothermal energy through the Geothermal Opportunity Zone (GeoZone) initiative. In <a href="https://sp-edge.com/updates/19418">June 2023</a>, Eavor entered into a commercial agreement with with OMV AG to pursue large-scale deployment of Eavor-Loop technology in Europe and other nations. OMV will begin with the deployment of Eavor-Loop in Austria, Romania, and Germany. In <a href="https://sp-edge.com/updates/23522">October 2023</a>, Eavor was awarded a contract by the US Air Force to provide geothermal energy generated from the Eavor-Loop to the Joint Base San Antonio facility in Texas.Funding and financialsIn <a href="https://sp-edge.com/updates/26805">February 2024</a>, Eavor received an undisclosed direct investment from Kajima Corporation, a Japanese construction company. The capital will strengthen Eavor’s balance sheet and enable the growth and deployment of Eavor’s technology.Prior to this, in <a href="https://sp-edge.com/updates/23301">October 2023</a>, Eavor raised raised USD 182 million in a Series B funding round led by OMV AG. The company intended to use the funds to advance the development and deployment of its geothermal technology. Prior to this, in <a href="https://sp-edge.com/updates/17012">March 2023</a>, Eavor was awarded a EUR 91.6 million (~USD 96.9 million) grant from the European Innovation Fund. The company intends to use the funds to support its Eavor-Europe geothermal project under construction in Bavaria, Germany. Prior to this, in February 2021, Eavor raised USD 40 million in a funding round led by the venture capital arms of Chevron and BP. The funds are expected to be used to commercialize Eavor's technology.

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.In <a href="https://sp-edge.com/updates/30398">June 2024</a>, LanzaJet partnered with Haffner Energy, a company using patented biomass thermolysis technology, to develop a SAF production plant project at Paris-Vatry airport. The project was expected to have an initial capacity of 30,000 tonnes (~33,000 tons) of SAF per year, with production possibly tripling after.Funding and financials&nbsp;The company’s most recent funding was in <a href="https://sp-edge.com/updates/29527">May 2024</a>, when it secured a USD 20 million investment from Groupe ADP, a French airport operator. This investment follows an undisclosed investment from Microsoft's Climate Innovation Fund in <a href="https://sp-edge.com/updates/28811">April 2024</a> and a USD 30 million investment from Southwest Airlines in <a href="https://sp-edge.com/updates/27076">February 2024</a>.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.

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

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

Heirloom is a direct air capture (DAC) company that permanently removes CO2 from the atmosphere by leveraging carbon mineralization. The company states that its technology has the lowest peer-reviewed cost of any DAC process in the world.In <a href="https://sp-edge.com/updates/23763">November 2023</a>, Heirloom opened the first commercial DAC facility in the US in Tracy, California. It utilizes limestone to absorb captured CO2. In <a href="https://sp-edge.com/updates/30998">June 2024</a>, the company announced the launch of two additional DAC facilities in Louisiana that will remove 320,000 tons of CO2 annually.Key customers and partnershipsThe company has attracted several early customers including Microsoft, Stripe, Shopify, Klarna, Milkywire, Sourceful, and Wise. Heirloom attempts to remove one billion tons of CO2 from the atmosphere by 2035.In February 2023, the company partnered with <a href="https://www.carbon-direct.com/insights/direct-air-capture-to-concrete-2-2">CarbonCure</a> Technologies, a company converting captured CO2 into green concrete products, to build carbon-removing concrete. In November 2023, the companies <a href="https://sp-edge.com/updates/23367">extended</a> their partnership to develop a DAC Hub in Illinois, US. In September 2023, Heirloom signed a multi-year deal with <a href="https://sp-edge.com/updates/21670">Microsoft</a> to remove ~315,000 metric tons of CO2. In October 2023, the company signed license and collaboration agreements with <a href="https://sp-edge.com/updates/23293">Leilac</a>, a decarbonization technology company, to deploy electric kilns made from Leilac's technology at Heirloom DAC facilities. In November 2023, Heirloom powered its first DAC facility from renewable energy supplied by <a href="https://sp-edge.com/updates/23763">Ava Community Energy.</a> In the same month, the company received USD 26.6 million from <a href="https://sp-edge.com/updates/24160">Frontier</a>, an advanced market commitment (AMC) for carbon removal technologies, for the removal of 26,900 tons of CO2 by 2030 from its next commercial facility.Funding and financialsHeirloom’s last funding round was in March 2022, when it raised <a href="https://sp-edge.com/updates/9199">USD 53 million</a> in a Series A co-led by Carbon Direct Capital Management, Ahren Innovation Capital, and Breakthrough Energy Ventures. The proceeds were used to scale up R&amp;D activities.

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

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. In <a href="https://sp-edge.com/updates/30992">June 2024</a>, LanzaTech and LanzaJet joined forces to launch CiculAir, an innovative solution that converts waste, carbon, and renewable energy into SAF. In August 2024, the company <a href="https://sp-edge.com/updates/32788">partnered</a> with LanzaTech and Wagner Sustainable Fuels, an Australian SAF provider, to equip the latter’s Brisbane SAF refinery with the CirculAir platform for SAF production.

Dimensional Energy is a solar-to-fuel startup that produces sustainable aviation fuel (SAF) by using CO2 and concentrated solar energy. The company’s innovative reactors convert CO2&nbsp; into a feedstock chemical, which is further processed into synthetic jet fuel for the aviation sector. The company’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.&nbsp;Key customers and partnershipsIn 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’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 <a href="https://www.worldcement.com/the-americas/16052023/lafarge-canada-in-partnership-with-svante-and-dimensional-energy-to-begin-utilisation-of-co2-captured-at-richmond-cement-plant/">May 2023</a>, Dimensional Energy began CO2 utilization in Lafarge Canada’s Richmond Cement Plant in partnership with Svante and Lafarge Canada.Funding and financialsThe company’s most recent funding was in <a href="https://sp-edge.com/updates/24848">December 2023</a>, when it raised USD 20 million in a Series A financing round led by Envisioning Partners. Previously in <a href="https://sp-edge.com/updates/24748">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.

Twelve (formerly, Opus 12) converts carbon dioxide (CO2) and water into chemicals, materials, and fuels. The company’s core technology is an electrochemical reactor called “O12” which runs on renewable energy. The company’s technology can be integrated with existing carbon capture solutions. As of March 2024, Twelve was constructing its first carbon transformation facility known as “Airplant One” in Moses Lake, Washington. The facility will produce E-Jet, Twelve's Power-to-Liquids sustainable aviation fuel (SAF), and is set to be operational in 2025.Key customers and partnershipsTwelve is commercializing its carbon transformation solution after having partnered with several automotive, household, apparel, and other companies, including Mercedes-Benz, Procter &amp; Gamble, and NASA. Twelve also has a partnership with LanzaTech to develop polypropylene from carbon emissions. In October 2021, Twelve partnered with Emerging Fuels Technology (EFT) and ​​the US Air Force’s Operational Energy Office to produce its first batch of sustainable jet fuel from CO2. In November 2021, Twelve signed a memorandum of understanding (MoU) with Exosonic (supersonic transport startup), to develop SAF compatible with Exosonic’s jet engines.In <a href="https://sp-edge.com/updates/11651">July 2022</a>, the company also partnered with Alaska Airlines and Microsoft to supply SAF for a commercial flight demonstration. In <a href="https://sp-edge.com/updates/13238">September 2022</a>, Twelve collaborated with Virgin Voyages, a new cruise line, to launch E-Marine, Twelve’s sustainable marine fuel solution. In <a href="https://sp-edge.com/updates/21229">August 2023</a>, the company partnered with CarbonCapture to utilize the captured CO2 from the latter’s DAC hub in Southwest Wyoming as feedstock for SAF production. In <a href="https://sp-edge.com/updates/27110">February 2024</a>, the company signed a 14-year agreement with International Airlines Group (IAG) to produce 260 million (~785,00 tons) gallons of SAF to support five European airlines, including British Airways, Aer Lingus, Iberia, LEVEL, and Vueling. In<a href="https://sp-edge.com/updates/29602"> May 2024</a>, Twelve partnered with BCG, a global management consulting firm, to deliver SAF certificates (SAFc) as part of BCG's initiative to achieve net-zero climate impact by 2030.

New technology allows individuals and organizations to become carbon intelligent

Carbon Management Software

Natural Capital Exchange (NCX), formerly SilviaTerra, is a data-driven forest carbon marketplace for forest carbon credits. As of February 2024, the project included over 22,000 landowners in 48 states, covering over 34 million acres, and operates the largest forest carbon project in the US by acreage. The company also launched NCX Rewards, a pilot program, which allows landowners to earn bonuses of up to USD 500.Key customers and partnershipsThe company’s initial carbon credit buyers were Microsoft, South Pole, and Shell Environmental Products. The company also partnered with Microsoft through the “AI for Earth” program to create Basemap—the first high-resolution forest inventory map of the US. In August 2022, the company partnered with Pledge, an integrated carbon measurement and offsetting platform, to list NCX carbon credits on its platform.Funding and financialsNCX’s latest funding event was in March 2022, when it raised USD 50 million in a <a href="https://sp-edge.com/updates/8878">Series B funding </a>round led by Energize Ventures. The proceeds were used to support international expansion as well as creation of new natural capital markets. Previously in April 2021, the company raised USD 20 million in a Series A round led by TIME Ventures. The Microsoft Climate Innovation Fund also participated.

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 Luxembourg-based SustainCERT operates as a carbon emission accounting and verification platform. The company&rsquo;s software allows organizations to track, account, and report emissions across supply chains. In May 2023, SustainCERT launched the world&rsquo;s first climate impact verification platform for carbon markets. This platform also provides the ability to co-claim Scope 3 emissions, between supply chain partners and other relevant entities.&nbsp;
 
 
 
 
 The company was founded as an independent standalone company by the Gold Standard and aligns with international frameworks including the Sustainable Development Goals and the Greenhouse Gas Protocol. SustainCERT is also the co-founder of the Value Change Initiative.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 In January 2022, the company trialed out its alpha version of its Scope 3 emissions software with General Mills, the Australian Meat and Livestock Association (MLA), and Rabobank. In 
 <a href="https://sustain-cert.com/news/esmc-first-user-of-sustaincert-s-innovative-value-chain-decarbonization-platform">
 June 2023
 </a>
 , the company paired up with Ecosystem Services Market Consortium (ESMC) to serve as the first user of SustainCERT&rsquo;s market-first value chain decarbonization impact solution. In August 2023, the company partnered with Regrow, an agriculture resilience platform provider, to offer an integrated measurement, reporting and verification (MRV) solution for agricultural Scope 3 emissions.
 
 
 
 
 Funding and financials&nbsp;
 
 
 
 
 The company&rsquo;s most recent funding was in June 2023, when it raised 
 <a href="https://sp-edge.com/updates/19183">
 USD 37 million
 </a>
 in a Series B funding round led by new investors Partech and Hartree Partners as well as existing investors. The proceeds will support the company&rsquo;s global expansion activities and the launch of its climate impact verification platform for Scope 3 emissions.
 
 
 
 
 
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<div>
 
 FlexiDAO is a Spanish carbon tracking software that uses blockchain technology to provide carbon footprint transparency across the entire supply chain 24/7. The company has extended its service offering across 13 countries. It also expects to add public traded companies to its portfolio to provide carbon emission disclosures and remedies to neutralize the negative environmental impact in accordance with the recently proposed SEC rules.&nbsp;
 
 
 Key customers and partnerships
 
 
 In August 2022, FlexiDAO partnered with Altenex Energy, an energy advisory firm, to provide corporate purchasers with carbon-free energy 24/7. The collaboration allows users of Altenex&rsquo;s Insights to access FlexiDAO&rsquo;s hourly data platform. The company&rsquo;s notable customers include Microsoft, Google, Iron Mountain, Vodafone ES, Iberdrola, Acconia, and Red El&eacute;ctrica de Espa&ntilde;a, among others.&nbsp;&nbsp;
 
 
 Funding and financials
 
 
 In July 2022, the company raised EUR 6.1 million (USD 6.5 million) in a 
 <a href="https://sp-edge.com/updates/11526">
 Series A
 </a>
 funding round led by Google, Microsoft Climate Innovation Fund, and SET Ventures. The funds were utilized to scale up FlexiDAO&rsquo;s platform across the US and Europe.
 
</div>

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

Cyclic Materials is an Ontario-based advanced metals recycling company focused on recovering rare earth elements (REE) used in high-performance magnets from end-of-life products. It re-circulates REEs back into the supply chains of automobiles, renewable wind energy, electronics, and more. Additionally, the company’s process recycles copper, aluminum, steel, cobalt, and nickel—metals that are also required for electrification and decarbonization. Cyclic Materials' closed-loop process reportedly uses less than 2% of the water and requires only 40% of the CO2 emissions of newly mined material.&nbsp;In February 2024, Cyclic Materials expanded to process <a href="https://sp-edge.com/updates/27086">two new streams</a>, wind turbine generators and MRI machines to create a circular supply chain that feeds these critical metals back into the North American and European markets.Cyclic's first facility, operational since September 2023, processes approximately 2,200 pounds of devices per hour, or nearly 18 million pounds per year, using its Mag-Xtract magnet removal process. Additionally, its hydrometallurgical process, which underwent trial runs in 2022, has an initial capacity of 22,000 lbs per year. As of March 2024, the company was developing its first commercial demonstration plant for this technology in Kingston with a target launch date in Q2 2024. Plans are also underway to expand with multiple facilities in the US and Canada.Key customers and partnershipsIn 2022, Cyclic Materials partnered with Polestar for the development of REEs of recycled magnets for use in Polestar cars, as well as explore ways to efficiently recycle existing magnets. ‍In February 2023, the company partnered with<a href="https://www.solvay.com/en/"> </a>Solvay for the production and supply of recycled mixed rare earth oxides (rMREO). The company also partnered with Arnold Magnetic Technologies, a leading magnet manufacturer, in April 2023, to establish a rare earth recycling program that would recycle all elements from Arnold's supply feed. In March 2024, the company partnered with <a href="https://sp-edge.com/updates/27689">Vacuumschmelze</a>, a developer of magnetic materials and solutions, to recycle by-products containing critical materials used in high-performance permanent magnets.Funding and financialsIn April 2023, Cyclic Materials raised USD 27 million in an <a href="https://sp-edge.com/updates/18019">oversubscribed Series A financing</a> round led by Energy Impact Partners (EIP) and BMW i Ventures (BiV) to scale up its technologies for future growth in North America, Europe, and Asia, as well as meet the rising demand for REEs. The company was also among the 17 companies selected to receive USD 3.6 million in funding in February 2023 from the Sustainable Development Technology Council (SDTC) of Canada to support the scaling of their proprietary technology.

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.

<div>
 
 AMP (
 <a href="https://sp-edge.com/updates/26429">
 formerly
 </a>
 AMP Robotics) uses robots and AI to sort waste by type. Following the company&rsquo;s rebranding, it shifted focus from supplying sorting robots to building automated, facility-scale recycling solutions that incorporate AI and robotics. The company&rsquo;s AMP One-integrated sorting facility combines a number of AMP&rsquo;s modular solutions to deliver a material recovery facility (MRF) that requires no manual sorting. The facilities are able to autonomously sort multiple waste streams, including municipal solid waste, MRF residue, and mixed plastic waste into bales of materials.
 
 
 The modular solutions that make up AMP One include
 
 
 AMP Vision: 
 An AI-powered machine vision system capable of identifying over 50 categories of materials present in waste streams. The company claims it uses the world&rsquo;s largest real-world dataset for materials with over 75 billion data points.&nbsp;
 
 
 AMP Jet and Microjet: 
 An AI-based sorting system that leverages AMP Vision to identify materials and separates these two material streams simultaneously using two rows of 50 air nozzles. The system also uses AI to track the path of sorted materials and adjust jets. AMP Jet is claimed to be able to recover over 90% of target materials without human intervention. The Microjet is a compact version that can be mounted on the side of a conveyor belt.
 
 
 AMP Delta: 
 A robotic sortation system that uses AMP Vision to mechanically sort waste streams, reaching pick rates of over 80 items per mimute. Also available in Tandem (120 items per minute) and Compact (65 items per minute) variants.
 
 
 AMP Vac:
 A belt-mounted vacuum array that removes and collects thin film that can be used for pyrolysis applications. It is able to collect up to 120 picks per minute.
 
 
 AMP Insight and AMP SmartTons
 : A real-time reporting tool and system for tagging sorted bales, which can specify the exact composition and purity of the recovered material.
 
 
 The company reports that its plants are able to handle between 15 and 100+ kilotons of waste annually. AMP also has turnkey plants available, and claims it can deploy custom-built plants in as little as nine months. As of February 2024, the company has more than 230 deployments in more than 80 facilities and robotic systems in over 20 states in the US, and in Canada, Japan, and Europe.
 
 
 In May 2023, the company unveiled a complete line of 
 <a href="https://sp-edge.com/updates/18116">
 AI-powered automation solutions 
 </a>
 for materials recovery facilities (MRFs), including a new compact robotic sortation solution, AI-driven improvements in targeting and robotic gripping reliability, and integrated AI-powered facility solution.
 
 
 In November 2022, the company opened its new 84,000 sq ft facility in Louisville.
 
 
 Key customers and partnerships
 
 
 In September 2021, AMP installed its 
 <a href="https://ampsortation.com/articles/amp-robotics-installs-its-first-recycling-robots-in-the-united-kingdom-and-ireland-with-recyco">
 first AI-guided robotics
 </a>
 systems in the UK and Ireland with Recyco, a recycling and waste management business in Northern Ireland. In July 2023, the Kent County Department of Public Works (DPW) acquired three recycling robots from AMP Robotics. In March 2022, AMP extended its partnership with Evergreen, adding six robots in Riverside, California, and planned to add three more in Albany, New York, in addition to the existing six robots in Clyde. In June 2022, AMP expanded its partnership with its reportedly largest customer waste connections.
 
 
 Funding and financials
 
 
 In November 2022, the company raised USD 91 million in corporate equity in a 
 <a href="https://sp-edge.com/updates?industryIds=54">
 Series C
 </a>
 funding round led by Congruent Ventures and Wellington Management. In May 2023, the company also raised an undisclosed amount from 
 <a href="https://sp-edge.com/updates/18384">
 Microsoft&rsquo;s Climate Innovation 
 </a>
 Fund, bringing AMP&rsquo;s Series C round to a total of more than USD 99 million. The company intended to use the funds to retrofit existing recycling infrastructure with technology solutions, as well as develop new infrastructure using AI-powered automation.
 
</div>

Technology for a regenerative future in agriculture

Regenerative Agriculture Platforms

Perennial is a soil carbon platform focused on measurement, reporting, and verification (MRV) of carbon sequestration in agricultural soils. The company, formerly known as Cloud Agronomics, uses a combination of geospatial data, machine learning, ground observation, and remote sensing technology to detect changes in soil organic carbon levels at scale. Perennial's platform analyzes various data sets including topography, climatology, hydrology, and satellite imagery to create high-resolution maps of soil carbon across large areas. This technology allows Perennial to bypass the need for extensive physical soil sampling, making the process of measuring soil carbon more cost-effective and scalable.
The company's mission is to unlock agricultural soils as the world's largest carbon sink, recognizing the significant potential of soil to store carbon and mitigate climate change. Perennial's technology provides standardized and cheaper data to help corporations achieve their net-zero targets while also enabling farmers to potentially earn income from carbon credits generated by their land management practices. In 2021, Perennial created what it claimed to be the highest-ever resolution map of soil organic carbon for the US.
Perennial's MRV platform caters to both carbon insetting and offsetting. Companies within the agrifood value chain can use the platform to measure and reduce their agricultural-based emissions, while project developers outside the food supply chain can partner with Perennial to monitor their soil carbon offset projects and verify the credits they sell to buyers.

Yard Stick PBC, founded in 2021 and based in Cambridge, Massachusetts, is developing innovative soil carbon measurement technology to enable large-scale carbon sequestration in agricultural soils. The company's proprietary hardware and software solution aims to dramatically reduce the cost and complexity of measuring soil organic carbon, a critical component for verifying carbon offset projects and helping companies reduce emissions in their agricultural supply chains.
Yard Stick's technology uses in-situ reflectance spectroscopy to measure soil carbon content in real-time in the field. Their handheld probe device can measure soil organic carbon up to one meter in depth without removing soil samples. This data is then processed through Yard Stick's software platform, which provides analytics and reporting capabilities. The company claims their approach can reduce soil carbon measurement costs by over 90% compared to conventional lab-based methods while improving accuracy.
As of 2023, Yard Stick offers its soil sampling and measurement services on a per-acre basis to project developers, agricultural brands, and land managers. The company has secured multi-year contracts worth over USD 17 million in revenue and has conducted fieldwork across hundreds of thousands of acres in 26 US states. Their technology is already compliant with voluntary carbon market crediting programs. Yard Stick was also awarded USD 18 million in funding from the USDA's Partnerships for Climate-Smart Commodities program in September 2022 to support soil carbon measurement for various agricultural research projects.
Key customers and partnerships
Yard Stick's customers include project developers working on soil carbon offset initiatives as well as food and agriculture companies looking to reduce emissions in their supply chains. Some notable customers and partners include Organic Valley, which is using Yard Stick's technology to measure soil carbon on dairy farms in its supply network. The company is also working with research institutions - for example, they signed an USD 11 million contract with a university to support a large-scale project studying low-carbon beef production methods.
Yard Stick has formed partnerships with key players in the soil carbon and regenerative agriculture space. They collaborate closely with scientists at the Soil Health Institute, including Dr. Cristine Morgan, who conducted much of the original research on soil carbon spectroscopy that Yard Stick's technology is based on. The company also works with agricultural cooperatives and project developers to implement their measurement solutions at scale across farming operations.

Optimizing the future of energy with software solutions

Energy Optimization & Management Software

Raptor Maps is a leading provider of solar lifecycle management software, offering advanced analytics and insights for the entire solar industry. The company's flagship product, Raptor Solar, is a software-as-a-service platform that enables utility-scale and commercial and industrial solar companies to standardize and analyze data, collaborate, optimize PV assets, reduce risk, and ultimately improve financial returns. The platform features state-of-the-art digital twins of solar assets, allowing users to scan module serial numbers for streamlined warranty claims and supply chain verification. Raptor Solar also provides inspection analytics, productivity tools, and the ability to quantify financial losses and benchmark portfolios.
Founded by MIT engineers, Raptor Maps has developed a sophisticated data model created from over 80 GW of solar power across dozens of countries. The company's 2023 Global Solar Report revealed a significant increase in power loss due to anomalies in solar assets, rising from 1.61% in 2019 to 3.13% in 2022. This underscores the importance of Raptor Maps' solutions in monitoring equipment performance, identifying maintenance issues, and streamlining warranty claim processes. The company's software has been shown to reduce manufacturer review time for warranty claims by up to 90%. Raptor Maps' artificial intelligence-enabled software analyzes thermal and color imagery from aerial solar site inspections, detecting, classifying, and localizing anomalies to help solar companies reduce costs and increase energy production.

AutoGrid is a provider of Virtual Power Plant (VPP) and Distributed Energy Resource Management System (DERMS) solutions, based in Redwood City, California. The company specializes in data analytics and machine learning technologies for managing distributed energy resources and microgrids, particularly for industrial and commercial customers. AutoGrid's technology focuses on integrating and orchestrating distributed energy resources (DERs) to benefit grid stakeholders. The company's product offerings include the Energy internet and Flex platforms, which are used for planning, implementing, and managing distributed energy projects. In January 2020, AutoGrid announced a fully integrated Advanced Distribution Management System (ADMS) and Distributed Energy Resources Management System (DERMS).
AutoGrid has undergone significant changes in its ownership structure in recent years. In May 2022, Schneider Electric acquired AutoGrid with the aim of accelerating AI adoption in the power sector and incorporating AutoGrid's capabilities into Schneider's microgrids business. In December 2023, Uplight, a utility software company based in Boulder, Colorado, announced an agreement to acquire AutoGrid from Schneider Electric. This acquisition was designed to combine Uplight's customer engagement capabilities with AutoGrid's DERMS technology in a single unified platform.
Key customers and partnerships
AutoGrid has had a long-standing partnership with Schneider Electric, dating back to 2013 when they collaborated to optimize Schneider's Wiser brand of smart thermostats and home energy management devices. In May 2019, Schneider Electric became a major shareholder in AutoGrid with a 10% stake and launched a co-innovation partnership focused on using AutoGrid's platforms for distributed energy projects. Following the acquisition by Uplight, the combined entity is expected to serve utility clients, energy users, and equipment manufacturers in accelerating their impact on the energy transition.

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

Bio-based Materials

<div>
 
 Colorado-based Prometheus Materials produces carbon-zero microalgae-based building materials by using a proprietary patent-pending photosynthetic bio-cementation process. The company grows &ldquo;cyanobacteria&rdquo; using water, which then uses photosynthesis to convert sunlight and carbon dioxide into minerals. The company claims its product offers similar mechanical, physical, and thermal properties to traditional cement-based products, reaching compressive strengths of up to 2,000 lbs per square inch (psi). As of 2022, the company claimed that the product could reduce carbon emissions by 90%, with a 100% reduction achievable within the following two years. In 
 <a href="https://sp-edge.com/updates/16235">
 January 2023
 </a>
 , Prometheus Materials received foundational certifications for its bio-cement from ASTM C129 for non-loadbearing concrete masonry units (CMUs) and ASTM C90 for loadbearing CMUs.
 
 
 As of June 2022, Prometheus Materials produced bio-based masonry units (concrete blocks) at a commercial scale at its production facility in Longmont, Colorado, and planned to target architects, engineers, property and facility developers, and other stakeholders in the construction industry. At the time, the company reported that it had completed pilot testing with an undisclosed large-scale construction company and planned to begin commercial production of other bio-based building materials including precast bio-based roofing tiles, wall panels, sound barriers, and bio-based ready-mix concrete within the following two years.
 
 
 During mid 2023, the company announced that its&nbsp; bio-concrete product line has a noise reduction coefficient (NRC) of 0.60, indicating 60% sound absorption&mdash;
 <a href="https://sp-edge.com/updates/20620">
 12x that of traditional concrete. 
 </a>
 The company reported plans to commercialize the products during the first half of 2024.
 
 
 Funding and financials
 
 
 <a href="https://sp-edge.com/updates/10913">
 In June 2022
 </a>
 , the company raised USD 8 million in Series A funding led by Sofinnova Partners; Microsoft Climate Innovation Fund; and Skidmore, Owings, and Merrill (SOM). The company planned to use the funds to produce carbon-zero masonry units (concrete blocks) and other carbon-zero building materials on a commercial scale.
 
</div>

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/29354">May 2024</a>, when the company secured USD 100 million in corporate credit financing. The funding was led by HSBC and will be used to support the manufacturing and deployment of its 100 MW electrolyzer plants. Prior to this in <a href="https://sp-edge.com/updates/28230">April 2024</a>, the company secured USD 18.3 million in funding in the form of a transferable tax credit from the Department of Energy to expand production capacity at the company’s gigafactory in Devens, Massachusetts. In <a href="https://sp-edge.com/updates/27615">March 2024</a>, Electric Hydrogen was awarded a USD 46.3 million grant from the Department of Energy to accelerate technology advancements at the gigafactory in Devens, Massachusetts. During the same <a href="https://sp-edge.com/updates/27414">month</a>, the company raised USD 50 million in equipment funding from Trinity Capital to upscale the manufacturing capabilities of its gigafactory in Devens, Massachusetts.Prior to this, in <a href="https://sp-edge.com/updates/25721">October 2023</a>, when the company secured USD 380 million in a Series C funding round led by Fortescue, Fifth Wall, and Energy Impact Partners. Electric Hydrogen intended to use the funds to expedite manufacturing and deployment to meet high customer demand. Prior to this in <a href="https://sp-edge.com/companies/1422455#:~:text=the%20company%20raised-,USD%20198%20million,-in%20a%20Series">June 2022</a>, the company raised USD 198 million in a Series B funding round led by Fifth Wall Climate Tech. The funds were used to scale up the company’s electrolyzer technology and to produce clean hydrogen in large-scale industrial and infrastructure projects. Previously in June 2021, the company raised USD 24 million in a Series A funding round led by Breakthrough Energy Ventures.

Electrifying passenger and commercial travel

EV Economy

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.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. In <a href="https://sp-edge.com/updates/33799">September 2024</a>, Group14 delivered SCC55 silicon battery material from its 10-gigawatt-hour joint venture (JV) plant in Sangju, South Korea.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.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.

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

Smart Building Technology

BlocPower is a climate technology company focused on greening America's buildings by replacing fossil fuel-based systems with energy-efficient, all-electric technology. The company utilizes proprietary software for analysis, leasing, project management, and monitoring to upgrade homes and buildings with heat pumps, solar panels, and other electric appliances. BlocPower's solutions enable building owners to reduce energy costs by 20-40% annually while significantly lowering greenhouse gas emissions.
Founded in 2014 in Brooklyn, New York, BlocPower has completed over 5,000 projects across the US as of March 2023. The company's BlocMaps SaaS analytics platform leverages data and algorithms to identify buildings suitable for electrification and provide personalized decarbonization plans. BlocPower is partnering with municipalities like Ithaca, New York, and Menlo Park, California, to support their net-zero emission goals through city-scale electrification initiatives.
In its efforts to develop a green workforce, BlocPower launched the Civilian Climate Corps program, training individuals from underserved communities for clean energy jobs. The company has raised over USD 250 million in funding from investors such as VoLo Earth Ventures, Goldman Sachs, Microsoft's Climate Innovation Fund, and the Bezos Earth Fund to accelerate building decarbonization nationwide.

Established renewable energy technologies for a greener future

Current-gen renewables

LevelTen Energy is a leading provider of transaction infrastructure for the energy transition. The company operates the LevelTen Platform, a global hub facilitating carbon-free energy transactions and insights. Through its Energy Marketplace and Asset Marketplace, LevelTen connects over 1,000 project developers across 32 countries with a vast network of corporations, advisors, traders, financiers, and other organizations seeking to advance carbon-free energy development.
The LevelTen Platform encompasses marketplaces for power purchase agreements (PPAs), clean energy projects, and tax credit transfers. It will soon support the trading of granular certificates, verifying the time and location of carbon-free energy generation. LevelTen's proprietary analytics software and data products, including MarketPulse and PPA Price Index, provide comprehensive market intelligence to inform pricing and procurement decisions.
As of July 2024, the LevelTen Platform had facilitated the procurement of over eight gigawatts of clean energy, sufficient to power the entire city of Barcelona. Its LEAP (LevelTen Energy's Accelerated Process) technology significantly reduces overall PPA procurement timelines by 80%. In April 2024, LevelTen expanded its Platform to support the transfer of federal clean energy tax credits, unlocking additional financing opportunities for project development.
In December 2023, LevelTen announced the Granular Certificate Trading Alliance, collaborating with AES, Constellation, Google, and Microsoft to develop a platform for trading and managing granular certificates. This platform, in partnership with the Intercontinental Exchange (ICE), will support the next wave of sustainability targets, including 24/7 carbon-free energy goals and emissions-first objectives.

Deriving insights from uncommon data streams

Alternative Data

Aclima is a climate tech company that has pioneered a novel approach to mapping and analyzing air pollution and greenhouse gases at an unprecedented scale and resolution. Utilizing its network of roving and stationary sensors, Aclima provides the broadest set of pollutant measurements available in the market, offering block-by-block resolution. The company's groundbreaking data and analytics empower its customers across various industries, government agencies, and communities to reduce emissions, improve public health, and deliver clean air for all.
In July 2022, Aclima commenced a historic collaboration with New York State, deploying its mobile-mapping technology to measure hyperlocal air pollution and greenhouse gases at the community block level across 10 disadvantaged communities. This statewide initiative collects data on criteria pollutants, greenhouse gases, and toxics through a fleet of specialized vehicles equipped with advanced sensors. The vehicles measure fine particulate matter, nitrogen dioxide, ozone, carbon monoxide, methane, carbon dioxide, black carbon, and benzene, among other pollutants, at different times, days, and seasons to create a comprehensive understanding of typical pollution levels.
Aclima's proprietary software, Aclima Pro, empowers users to analyze and visualize the company's unique data, combining it with hundreds of additional contextual layers to drive climate and public health actions. The results will inform New York's efforts, in collaboration with partners, to reduce emissions and address health burdens and inequities in communities disproportionately impacted by air pollution. This initiative supports New York's goal to reduce greenhouse gas emissions by 85% by 2050, as mandated by the state's Climate Leadership and Community Protection Act.

Using autonomous, green, IoT, and digital technologies to shape the future of ocean-based transportation

Shipping Tech

Nautilus Labs is a maritime technology company specializing in decarbonizing the ocean supply chain. Their flagship solution, Voyage Optimization, leverages machine learning to analyze internet of Things (IoT) data, weather patterns, arrival and departure times, and commercial requirements. This empowers clients to reduce fuel waste, emissions, and optimize commercial returns. Nautilus Labs creates digital twin vessel models to accurately simulate vessel performance, enabling voyage optimization for improved Carbon Intensity Indicator (CII) ratings, emissions tracking, and efficiency gains. Their offerings include Fleet Essentials for fleet performance management, Voyage Optimizer for charterers and operators, Boil-off Gas management solutions, and Green Charter for transforming traditional charter party agreements. In October 2022, Nautilus Labs partnered with OrbitMI to provide an integrated solution encompassing data integration, operational processes, and maritime optimizations. In October 2023, they announced a strategic integration with Dataloy to blend data resources and deliver actionable insights for enhanced decision-making.
Key customers and partnerships
In June 2023, Nautilus Labs launched Green Charter to establish new legal frameworks in charter party agreements, fostering transparency and collaboration between ship owners and charterers. They have partnered with industry leaders like TotalEnergies, Eastern Pacific Shipping, Emirates Shipping Line, and Diamond Bulk Carriers to optimize voyage planning, vessel performance monitoring, and emissions reduction. Executives from these companies have praised Nautilus Labs for providing accurate real-time insights, seamless integration, cross-departmental collaboration, and driving internal behavior change toward sustainability goals.

Taking commercial activities to new heights

Commercial Drone Tech

Raptor Maps is a software platform specializing in the inspection and management of large-scale solar assets. The company offers a comprehensive solution called Raptor Solar, which provides advanced analytics, insights, and productivity tools for the entire solar lifecycle, from financing and development to operations and maintenance.Raptor Solar creates digital twins of solar sites, incorporating aerial thermal inspections, data standardization, serial number mapping, warranty claim features, equipment records, and mobile tools. This powerful platform enables users to standardize and analyze data across installations, optimize PV assets, reduce risks, and ultimately enhance financial returns.Raptor Maps' technology relies on machine learning and an industry-leading data model built from over 50 GW of solar power data across 40 countries. According to the company's 2022 Global Solar Inspection Report, 2.6% of solar power is affected by anomalies. The Raptor Solar platform addresses these issues by providing detailed insights and tools to monitor, maintain, and optimize solar assets.Through its software, Raptor Maps offers valuable features such as benchmarking portfolio performance against industry averages, quantifying financial losses due to anomalies, and streamlining warranty claims processes. The company's customers include prominent players in the solar industry, such as Tesla, SOLV Energy, Rosendin Electric, Cypress Creek Renewables, and McCarthy.Key customers and partnershipsIn May 2022, Cypress Creek Renewables, a leading solar energy company with a 3.9 GW portfolio across 19 states, integrated Raptor Solar into its portfolio analytics. This partnership allows Cypress Creek to digitize its solar assets, make data-informed decisions, and optimize performance and returns through Raptor Solar's productivity tools and insights.Raptor Maps has also collaborated with GreenPowerMonitor, a monitoring provider, to better monitor solar assets. This combined software platform localizes inverter, combiner, and pyranometer data to the correct geospatial position on a solar farm, enabling asset owners and operators to assess the impact of physical module conditions on power production.

Terradot is a developer of a carbon removal platform intended to reduce carbon footprints and revolutionize soil carbon management.

Cyclic Materials provides recycling services that recover rare earth elements aiming to reduce the opening of new mines and accelerate the transition to electric mobility and cleaner energy. It operates landfill-bound products and recovering their critical metals that help businesses in supplying wind turbines, electric vehicles, and electronics segments by reducing CO2 emissions.

Twelve is a carbon transformation company converting captured carbon dioxide into valuable chemicals, fuels, and other essential products. Their technology eliminates emissions by turning CO2 into essential products that are made from fossil fuels. They specialize in the fields of CO2 electrocatalysis and electrochemical reactor design.

Applied Carbon is scaling ground-breaking technology to regenerate soils and trap atmospheric carbon for the benefit of people and the world.

LevelTen Energy is a company that provides renewable transaction infrastructure. It connects renewable energy buyers, advisors, and sellers and gives them the tools and services they need to get better deals done faster. Its technology-enabled marketplace connects a broader class of C & I to utility-scale projects.

Konexa is an energy company that engages in the development and long-term management of integrated utility projects and renewable assets. The company provides transforming energy systems. It pioneering an integrated utility model that accelerates access to power for leveraging and disruptive technologies. Konexa is based in London, United Kingdom.

LanzaJet focuses on sustainable aviation fuels (SAF). LanzaJet specializes in producing low-carbon and sustainable fuels for the aviation industry. The company employs a technology that converts non-recyclable waste into SAF, offering an alternative to traditional fossil fuels. LanzaJet was founded to address via the environmental impact of aviation by providing cleaner fuel options. They aim to contribute to the reduction of greenhouse gas emissions in the aviation sector.

H2 Green Steel operates a steel production plant to accelerate the decarbonization of the steel industry using green hydrogen. It provides a digitalized and automated greenfield steel plant by bringing together raw materials, renewable energy, and artificial intelligence to help clients have access to fossil-free steel at a leading cost position. The project includes a giga-scale green hydrogen plant as an integrated part of the steel production facility. H2 Green Steel was established in 2020 in Stockholm, Sweden.

Dimensional Energy is a chemistry company pioneering artificial photosynthesis to produce environmentally responsible polymers and chemical intermediaries. Dimensional Energy is making solar fuels viable through efficient utilization and even distribution of sunlight in scalable reactor forms with novel, functionalized catalysts.

Eavor is a technology-based energy company that provides a clean, carbon-neutral, scalable, baseload power solution. The company's solution represents a truly scalable form of clean baseload power. They achieve this by mitigating or eliminating many of the issues that have hindered traditional geothermal solutions. The system is made with existing commercial componentry configured in a completely novel way. They use the most recent advances in drilling techniques and merge them with the latest heat-to-power generation technology to create a scalable, steady, and reliable source of green power.

Vibrant Planet provides land management services and technology solutions to accelerate land restorations. The company collaborates with scientists, land management leaders, and policymakers to build a cloud-based system that informs and facilitates collaborative planning. Vibrant Planet was founded in 2004 by Allison Wolff and is based in Incline Village, Nevada.

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.

Boston Metal is a metallurgy company developing technology to reduce the carbon footprint of steel production. The company provides industrial-scale, metal production solutions utilizing its Molten Oxide Electrolysis (MOE) process. MOE provides the metals industry with a more efficient, lower-cost, and greener solution for the production of a wide array of metals and alloys from a wide variety of feedstocks. Boston Metal was spun out of MIT in 2012 with an investment from Ingo Wender and has since scaled the technology 1,000x and produced thousands of kilograms of metal. Boston Metal’s headquarters and industrial development center are located in Woburn, MA.

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

Yard Stick measures soil carbon. Scientists and farmers alike know that climate-friendly agricultural practices have the potential to remove atmospheric CO2 at gigaton/year scale. When these practices are adopted, more carbon is stored in soils, improving soil health and fighting climate change. But significant measurement challenges have held soil carbon efforts back - until now. By reducing the cost of soil carbon measurement by 90%+, Yard Stick will dramatically expand the opportunities for evidence-based regenerative practices to simultaneously improve ecosystem health, increase farmer income, and combat climate change.

Rondo Energy delivers zero-carbon industrial heat. Rondo Heat Battery powers industrial processes with renewable electricity, cutting energy costs and eliminating emissions.

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

New Sun Road is a public benefit corporation developing data-driven IoT technology solutions. The company's platform includes a suite of IoT products designed to optimize the management of renewable-based power systems while driving down the costs of microgrids to unlock additional capital.

SustainCERT is a group of mission-driven people who are passionate about sustainability and making a meaningful environmental impact through digital transformation. SustainCERT embraces technology in order to advance our industry's progress. The company's platform enables clients to quantify and report on the social and environmental impacts by providing digital verification and management of climate claims across carbon markets and value chains in order to meet the standards set in order to be sustainable, yielded from a wide range of interventions.

Mitiga Solutions provides climate risk intelligence that combines science, AI, and high-performance computing. We help customers analyze, report, and act on their business exposure to climate risk through﻿ our self-serve platform EarthScan™ and our risk models.  Our mission is to make the world a more resilient place under a changing climate. Mitiga is headquartered in Barcelona, Spain, and backed by Kibo Ventures, Microsoft Climate Innovation Fund, Nationwide Ventures, CREAS Impacto, and Faber.

AMP is an AI technology company that modernizes recycling infrastructure through smart sortation solutions. The company focuses on maximizing resource recovery while minimizing labor costs for waste management operations. With numerous deployments globally, AMP aims to transform the economics of recycling.

BlocPower is an energy technology startup that develops healthier, greener, and smarter buildings. It leverages advanced technologies, innovative electrification equipment, and structured finance to provide green heating and cooling to urban buildings. The company also connects government agencies, utilities, building owners, and smart equipment providers to identify unhealthy, energy-wasting buildings to retrofit. Its proprietary machine learning platform then determines which retrofits will produce the most energy savings at scale and uses the cloud and IoT to gather data and remotely monitor energy consumption. Since its founding, BlocPower has completed energy projects in nearly 1,000 buildings and delivered results ahead of schedule and under budget. It utilizes its proprietary software for analysis, leasing, project management, and monitoring of urban clean energy projects, and its customers are saving 20–40% on their energy bills each year. The company is backed by top investors, including Kapor Capital, Andreessen Horowitz, the American Family Insurance Institute for Corporate and Social Impact, AccelR8, the Goldman Sachs Urban Investment Group, Elemental Excelerator, CityRock Venture Partners, the Schmidt Family Foundation, and Salesforce Ventures. Donnel Baird and Morris Cox co-founded the company in Brooklyn, New York in 2014.

Novata is a developer of a technological platform that provides its clients with corporate governance measurement, data collection, and benchmarking. In addition to reporting tools, the company provides a streamlined reporting framework that consolidates metrics, a secure contributory database where private companies can report against the framework, and objective, data-driven benchmarking against both private and public company peers. This enables private businesses to gain key insights from their data and easily report to investors, regulators, and other stakeholders. Novata was established in 2021 in New York, United States by Alexander Friedman.

Climate Robotics builds advanced robotics and artificial intelligence to fight climate change. They are passionate about technology and leaving the world a better place.

Group14 is the world’s leading commercial manufacturer and supplier of advanced silicon battery technology. Today, Group14 works with customers representing 95% of worldwide battery production.  Headquartered in Woodinville, WA, with a joint venture in South Korea, and new factories on the horizon around the world, our Battery Active Material (BAM) factories can be built anywhere on Earth to help meet global demand for silicon battery materials. We're enabling a world where anything that can run on rechargeable batteries, does.

LineVision provides electric utilities with the real-time monitoring and analytics needed to secure the future of the grid. LineVision’s patented non-contact sensors collect critical information to unlock additional capacity on existing lines, provide insight into conductor health, and detect anomalies and risks. LineVision’s platform is rapidly deployed at scale without the need for scheduled outages, live line work, or specialized installation equipment. LineVision is helping our utility partners around the world lead the energy transition by increasing the capacity, resilience, and safety of the grid. For more information visit: www.LineVisionInc.com

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

Source is a developer and manufacturer of solar-powered devices designed to extract drinkable water from the atmosphere. The company's solar-powered hydro panels utilize advanced materials science to pull water from even the driest conditions, producing pure water that is mineralized and delivered to a tap, enabling users to get clean water essentially anywhere. It was founded in 2014 and is headquartered in Scottsdale, Arizona.

Flexidao´s software platform uses blockchain technology to certify and trace electricity from production to consumption, to enable credible and verifiable claims on its carbon footprint, every hour of the day. This enables customers to understand the origin and carbon footprint of the energy they consume across their operations and take action to procure cleaner electricity and drive decarbonisation of their operations, making 24/7 carbon-free energy a reality.

CrossBoundary recently formed CrossBoundary Energy, the first dedicated investment fund for Commercial and Industrial solar in Africa.   Many businesses in Africa generate a significant portion of their own electricity through inside-the-fence diesel generation. Due to the cost of diesel, it would be economically and environmentally optimal for these businesses to switch to renewable generation through solar and other alternatives. However, businesses are ill equipped to take the financial and technical risk to finance a conversion to renewables. At the same time, capital lacks a standardized platform to access these profitable but relatively small transactions.   CrossBoundary Energy is a platform to aggregate finance for medium scale renewable self-generation. The platform finances renewable generation projects (0.2MW-10MW) that serve commercial customers in Africa such as off-grid light manufacturing, cell towers, farms, remote hospitals, eco-lodges and beverage bottlers. Our goal is to enable the delivery of energy-as-service and unlock the latent opportunity for renewable own-generation in Africa.

Earth. It’s the soil under our feet. Perennial is the leading measurement, reporting, and verification (MRV) platform for soil-based carbon removal. Harness earth to heal the planet.

Raptor Maps offers a platform that analyzes data from various sources to improve solar asset performance. The service automates visual inspections and provides an intuitive interface for managing solar plants. It enables technicians to access critical information and track their work efficiently, even in remote areas.

Prometheus Materials develops bio-cement with zero carbon emissions to reduce global CO2 emissions. It aims to push the world towards sustainability.

KOKO Networks is an international venture-backed technology company with offices in East Africa and India. KOKO provides a platform for smart commerce in urban Africa. Our unique suite of technologies connects suppliers, retailers, and customers, enabling delivery of a range of consumer and business solutions that improve life in Africa’s cities.

Heirloom is a provider of direct air capture technology to enhance the natural process of CO2 absorption from the atmosphere. Its technology accelerates limestone's ability to capture carbon dioxide, storing it permanently underground while operating with renewable energy.

Nautilus Labs is a technology partner that provides decarbonization of the ocean supply chain. They work across data availability and structures they apply machine learning to unlock predictive decision-making for fleet efficiency. Their solutions are built on clients’ workflows and are accompanied by human-centric change management programs to drive organizational adoption.

Leko Labs is a carbon-negative construction company that provides sustainably sourced wood-based building materials to replace concrete and steel in a single building, thereby reducing the carbon footprint during construction. The cross-laminated timber construction system developed by Leko Labs combines structural and insulation performance for acoustic, thermal, and static properties. Leko Labs is changing the way buildings are built by using technology to overcome inefficiencies in traditional construction.

3E Nano has developed and is commercializing a low cost, thermally and optically smart, Diamond-Like Carbon (DLC) coating. This nano thin film applied to glass and other transparent media is targeted toward windows, windshields, greenhouses, and solar module manufacturers.

Utilidata is a technology company bringing open source distributed artificial intelligence (AI) to the edge of the electric grid to accelerate decarbonization and better serve utility customers. Utilidata has partnered with NVIDIA to combine a decade of experience optimizing the distribution grid in real time with NVIDIA's industry-transforming accelerated computing to deliver a new grid edge solution: the smart grid chip. Utilidata's smart grid chip offers unparalleled computing power with embedded software to manage rapid decarbonization, electrification, and increasingly severe weather.

AutoGrid Systems organizes energy data and employs big data analytics to generate real-time predictions that create actionable data. The company’s suite of flexibility management applications allows utilities, electricity retailers, renewable energy project developers and energy service providers to deliver cheap, clean and reliable energy by managing networked distributed energy resources (DERs) in real time and at scale. AutoGrid applications utilize petabytes of smart meter, sensor and third-party data, along with powerful data science and high-performance computing algorithms, to monitor, predict, optimize and control the operations of millions of assets connected across global energy networks. Established at Stanford University in 2011, they have assembled a team of world-class software architects, electrical and computer engineers, data scientists and energy experts who apply cutting-edge analytics and in-depth energy data science to solve the world’s most critical energy problems.

The Rheaply Platform is a cloud-based resource exchange technology application for connecting people and organizations with resources to those who need them, improving reuse outcomes and catalyzing the circular economy. As the only market solution that combines an asset management system with an online marketplace, Rheaply’s platform enables organizations to exchange materials and resources more effectively, eliminating unnecessary waste and spend. To learn more about Rheaply, visit rheaply.com or follow @RheaplyInc.

NCX democratizes access to natural capital markets by opening up participation to landowners of all sizes. Massive climate, community, and landscape impact is delivered by connecting every landowner to carbon credit buyers on its Natural Capital Exchange. Through rigorous data and science practices, NCX carbon buyers are making real, measurable progress towards their sustainability goals.

Aclima is a climate-tech company that focuses on mapping and analyzing air pollution through advanced measurement and analysis platforms. Aclima measures air pollution and greenhouse gases at unprecedented scales and block-by-block resolution. Their professional analytics software, Aclima Pro, translates billions of scientific measurements into environmental intelligence for governments, companies, and communities. Aclima is a purpose-driven technology company catalyzing bold climate action that protects public health, reduces emissions, and delivers clean air for all—investors, including Social Capital, Kapor Capital, and the Microsoft Climate Innovation Fund back them.

Microsoft Climate Innovation Fund is an investment initiative to accelerate technology development and deployment of new climate innovations through equity and debt capital.

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