Chevron Technology Ventures

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

Alternative Energy

Natel Energy focuses on restoration hydro, which refers to the process of restoring damaged water sources through actions such as remediating the water quality, repairing the source of the water damage, and repopulating the watershed with plant and animal species. Natel Energy takes restoration hydro a step further and incorporates hydropower generation into its restoration projects; this is expected to create a virtuous cycle where hydropower generation can be financially leveraged to support the restoration project to scale.Natal Energy incorporates hydropower generation into its restoration projects through its proprietary Restoration Hydro Turbine (RHT), which creates a safe fish passage to reduce fish damage by 99% during the hydropower generation process. This eliminates the need for fine fish screens used in legacy hydropower turbines which reduces plant efficiency.As of January 2024, Natel Energy has completed hydropower and restoration projects in the US and Europe and has contracts to design turbines for deployment in DR Congo.Key customers and partnershipsIn September 2021, Natel partnered with Nelson Energy to install between 60 and 90 RHTs, to retrofit three existing dams and add 80 MW of renewable power to the US grid.In December 2022, Natel partnered with utility company Energie Steiermark, to commission Natel’s first European hydropower project in Graz, Austria which is expected to generate 100 MWh annually. During the same month, Natel partnered with Symbion Power, to launch MyHydro, which aims to provide renewable and fish-safe hydropower to the Democratic Republic of Congo (DRC) through 33 small hydro sites generating at least 150 MW.In September 2023, Natel reported establishing a partnership with Normandeau Associates, Pacific Northwest National Laboratory, the US Geological Survey's Eastern Ecological Science Center, Great River Hydro to conduct the first field passage test of large American eels through a utility-scale RHT. During the same month Natel also partnered with the Fish Conservation Physiology Lab at the University of California to investigate the stress response of RHT passage on juvenile white sturgeon.Funding and financialsIn April 2023, Japan Energy Fund invested an undisclosed amount in Natel Energy through its Decarbonized Tech Fund. Prior to this in July 2021 Natel raised USD 20 million in a Series B funding round led by Breakthrough Energy Ventures and supported by Chevron Technology Ventures. The company intended to use the funds to scale the deployment of the Restoration Hydro Turbine for hydropower projects in the US and Europe.Key competitors: None comparable (Natel Energy is the only startup that focuses on restoration of hydro projects)

Malta developed a utility-scale Pumped Heat Energy Storage (PHES) system for long-duration energy storage. Malta claims that its technology can store energy from any power generation source (fossils, solar, wind, etc.) in any location and can store over 100 MW of electricity from eight hours to eight days or longer. Malta was incubated at Google X from 2016-2018 before being spun out as an independent company.Malta’s PHES system takes electricity, converts it, stores that electricity as heat, and then converts it back to electricity to be redistributed on the electric grid on demand demand. In the charge mode, the system operates as a heat pump, storing electricity as heat in molten salt. In discharge mode, the system operates as a heat engine, using the stored heat to produce electricity.In August 2022, Southwest Research Institute (SwRI) assembled and commissioned the first thermal energy storage demonstration facility based on the utility-scale thermal energy storage system created by Malta. The pilot will be tested to demonstrate operation, verify system control strategies, and validate data.Key customers and partnershipsIn May 2021, Malta partnered with Duke Energy to study the feasibility of converting retiring coal units into long-duration, zero-emission energy storage systems. In <a href="https://sp-edge.com/updates/4158">July 2021</a>, Malta partnered with Siemens Energy to co-develop the commercial design of turbomachinery components required for its energy storage systems. In December 2021, Malta partnered with Bechtel Corporation to explore opportunities to deploy long-duration energy storage plants that store electricity for days or weeks.In January 2023, Malta partnered with the Orlando Utilities Commission to deploy its energy storage technology.Funding and financialsMalta's most recent funding event was in <a href="https://sp-edge.com/updates/25726">November 2023</a>, when the company raised USD 21.6 million in a financing round. The company intended to use the funds to expedite the global deployment of its energy storage systems. Prior to this, in February 2021 the company raised USD 50 million in a Series B round led by Proman. The funds were expected to help expand Malta's business reach.

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.

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&nbsp;<a href="https://sp-edge.com/updates/34790">October 2024</a>, the company unveiled Century, a prototype fusion reactor that operates at 100 KW of input power.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.

Canada-based Carbon Engineering (CE) specializes in Direct Air Capture (DAC) and air-to-fuel (ATF) technologies. ATF technology turns atmospheric carbon dioxide (CO2) DAC facilities into low-carbon fuels. The company’s pilot DAC plant in British Columbia captures one ton of CO2 per day. As of March 2024, CE is working with 1PointFive to commercialize its air-to-fuel processes.Key customers and partnershipsCE has partnered with Oxy Low Carbon Ventures (the venture capital arm of the oil and gas company Occidental Petroleum) to build its first commercial DAC facility in Texas Permian Basin. The proposed facility will capture one million tons of CO2 per year. The construction of the plant is to be completed by 2024. CE has also begun engineering at its <a href="https://sp-edge.com/updates/14178">second DAC facility</a> in Kleberg County, Texas to capture 30 million tons of CO2 per year. The site is expected to begin operations by late 2024. CE also has a partnership with Storegga Geotechnologies to deploy its DAC technology in the UK. In <a href="https://sp-edge.com/updates/10949">June 2022</a>, CE extended its collaboration with 1PointFive to deploy DAC projects globally.CE allows customers to pre-purchase carbon removal quantities from its future projects. In March 2021, Shopify became CE’s first customer, having reserved 10,000 tons of carbon removals. CE has also partnered with BeZero (a British climate asset and liability management company) for a joint retail offering that allows customers to purchase carbon removals through BeZero’s website. In November 2021, CE also signed up BMO Financial Group, a Canadian financial service provider, as a new customer and plans to deliver 1,000 tons of carbon removal units.CE estimates the net cost of its DAC technology to be around USD 94–232 per ton. The net cost of capture from its proposed one-megaton commercial plant is expected to be “little less than USD 200 per ton”. The company has also reported that its net cost of capture needs to fall below USD 150 per ton for the technology to make commercial sense.In October 2021, Carbon Engineering also partnered with Huron Clean Energy (Canada), The Upper Nicola Band (Canada), and Oxy Low Carbon Ventures to develop a large-scale commercial ATF facility in British Columbia. The facility is expected to begin operations in 2026. In November 2021, the company partnered with Air Canada to explore sustainable aviation fuel (SAF) opportunities.In <a href="https://sp-edge.com/updates/21044">August 2023</a>, Occidental Petroleum announced a definitive purchase agreement to acquire Carbon Engineering for USD 1.1 billion in cash. The deal was closed in <a href="https://www.blg.com/en/about-us/deals-and-suits/2023/11/occidental-petroleum-completes-us1-1-billion-acquisition-of-carbon-engineering-ltd#:~:text=On%20November%203%2C%202023%2C%20Occidental,equity%20of%20Carbon%20Engineering%20Ltd.">November 2023</a>.&nbsp;

TAE Technologies is a next-generation renewable energy company focusing on fusion technology. The company’s technology attempts to fuse hydrogen and boron to produce light to generate heat for power generation. TAE aims to connect the first hydrogen-boron fusion power plant to the grid in the 2030s and expects to demonstrate net energy on its next research reactor Copernicus around mid-decade.TAE Technologies has obtained more than 1,400 patents and launched several spin-off technologies in sectors such as electric mobility, power management, and life sciences. In <a href="https://sp-edge.com/updates/15971">January 2023</a>, formed a new subsidiary known as TAE Power Solutions. This subsidiary is developing a unique technology platform derived from fusion research to improve the reliability, efficiency, longevity, and affordability of electric-powered products, including EVs and renewable energy storage.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/6255">October 2021</a>, TAE Technologies partnered with the National Institute for Fusion Science (NIFS), a Japanese research institute, to test hydrogen-boron (p-B11) fusion reactions. Furthermore, in <a href="https://sp-edge.com/updates/16848">March 2023</a>, TAW and NIFS carried out the world’s first hydrogen-boron fusion experiments in a magnetically confined fusion plasma.Since 2014, TAE Technologies has worked with Google to apply machine learning, data science, and advanced computations to jointly develop the Optometrist Algorithm to speed up experiments involving plasma, the core ingredient in a fusion reaction.Funding and financialsThe company’s most recent funding event was a <a href="https://sp-edge.com/updates/11710">July 2022</a> USD 250 million round led by Google. The company planned to use the funds to construct its research reactor “Copernicus.” Prior to this, in April 2021 TAE Technologies raised USD 280 million led by Google and New Enterprise Associates. Funds were expected to be used to further the company’s fusion experiments and to build a new reactor-scale facility.

Natron Energy develops sodium-ion batteries using Prussian Blue chemistry as an alternative to lead-acid and lithium-ion batteries. Natron claims that its battery solution is the first to not be lifetime-limited due to chemical factors. The company’s new cell technology is based on Prussian Blue analog electrodes and a sodium-ion electrolyte that charge and discharge by single-phase reactions within the stability window of the electrolyte. This eliminates the conversion reactions and electrolyte decomposition that limit the lifetime of lead-acid and lithium-ion cells. Natron’s battery technology can be used in mission-critical stationary applications such as data centers, electric forklifts, smart grids and microgrids, and renewable energy support systems.In September 2020, Natron announced that its BlueTray 4000 rack-mounted battery pack would be commercially available for shipment. The BlueTray 4000 is an 8-kilowatt, 50-volt battery tray that can be used in data centers to manage peak compute load and provide critical backup power. Natron claims that BlueTray 4000 provides data center operators up to double the power density and 10 times the lifecycle compared to existing products.In <a href="https://sp-edge.com/updates/13744">October 2022 </a>, Natron launched its Blue Rack battery cabinet in 250kW and 500kW configurations. This world's first sodium-ion battery cabinet can be used for data centers, peak power-shaving, and other industrial power environments.Funding and financialsThe company raised USD 189 million in January 2024 according to a <a href="https://www.sec.gov/Archives/edgar/data/1567664/000156766424000001/xslFormDX01/primary_doc.xml">SEC filing</a>. In September 2020, Natron received a USD 20 million grant from the US Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E) to expand commercial production of its battery pack to 18,000 trays per year.Natron raised USD 7 million in a strategic investment round led by Nabors Industries in July 2022. Previously the company raised USD 35 million in a July 2020 Series D round led by ABB Technology Ventures, NanoDimension, and Volta Energy Technologies. The funds were earmarked for increased product operations to meet market demand.

Hydrogen Economy

Germany-based Hydrogenious LOHC Technologies offers hydrogen storage and distribution services, based on its proprietary Liquid Organic Hydrogen Carrier (LOHC) technology. The company’s two product offerings, “StoragePLANTS” and “ReleasePLANTS,” can be customized in size to optimize the footprint for individual customers.StoragePLANTS are designed for large-scale storage of hydrogen in the form of LOHC oil, with capacities starting at five tons per day. The company also offers containerized systems with 2 lbs of hydrogen per hour for smaller projects and application pilots. The company’s ReleasePLANTS are designed to release hydrogen from the LOHC oil, with capacities starting at 1.5 tons per day, which the company says is ideal for fueling stations and industrial supply. The company also offers containerized systems that release 2 lbs of hydrogen per hour for smaller projects and pilot applications.As of January 2023, the company and its partner Vopak are building an LOHC storage facility in Chempark Dormagen, Germany, and a release facility in Rotterdam, the Netherlands with a release capacity of 1.5 tons of hydrogen per day.Hydrogenious LOHC Emirates, based in the UAE, is a joint venture with Emirates Specialized Contracting &amp; Oilfield Services (ESCO) to provide regional hydrogen storage and transportation solutions starting in 2021. Hydrogenious LOHC Maritime, based in Norway, was founded in 2021 jointly with Østensjø Group to develop a zero-emission on-board propulsion system with an LOHC/fuel cell solution for the global shipping industry.Key customers and partnershipsHydrogenious LOHC Technologies and its subsidiaries have entered into several partnerships to promote the use of green hydrogen in the shipping industry, and to develop its supply chain:In February 2024, the company received official notification from the EC for the Green Hydrogen@Blue Danube project, for which the company will build a ReleasePLANT near the Danube to create a green hydrogen supply hub in Bavaria. In <a href="https://sp-edge.com/updates/24968">December 2023</a>, Hydrogenious partnered with Clarksons Specialised Products, a company active in the chemical tanker market, to build a maritime supply chain for the transportation of green hydrogen. In May 2023, the company signed an MoU with European barge operator HGK Shipping, for the HyBarge project, which aims to develop solutions for the use of hydrogen in barge transportation.In March 2023, the company partnered with Alma Clean Power to develop a fully integrated LOHC solid oxide fuel cell (LOHC-SOFC) power system as part of the HyNjord project, which focuses on developing a 100 KW pilot powertrain to operate on an offshore supply vessel. The Ship-aH2oy project, which aims to develop a zero-emission propulsion technology for ships using green hydrogen from LOHCs, was launched in February 2023 with 17 partners. As one of the project partners, the company will oversee the detailed design of the LOHC release unit and its integration with the SOFC.In January 2023, the company formed a joint venture called LOHC Logistix with tank storage company Vopak, to store, transport, and delivery hydrogen using its LOHC technology. Other storage-related partnerships include one with tank storage company Evos and the Port of Amsterdam—the three partners signed an MoU in October 2022 to jointly develop hydrogen import facilities at the port. Earlier, in May 2022, the company successfully completed the joint EU project HySTOC, which used the company’s LOHC technology for hydrogen storage and transport in Finland. In October 2021, the company partnered with Bilfinger, an industrial services provider, to make green hydrogen commercially available on a large scale in Europe through a stationary LOHC plant.Further, Hydrogenious <a href="https://sp-edge.com/updates/9268">partnered</a> with Uniper (a German utility), JERAS Americas (a Japanese renewable energy equipment manufacturer), and Abu Dhabi National Oil Company (ADNOC) to jointly explore hydrogen transport between the UAE and Germany (March 2022), with CWP Global (a renewable energy development company) to explore a hydrogen transport chain from Morocco to Europe (May 2023), and with Greenergy to explore the development of a green hydrogen supply chain from Canada to the UK (March 2023).Funding and financialsThe company’s latest funding was in September 2021, when it raised EUR 50 million (~USD 54.1 million) in a venture round led by JERA Americas. Hydrogenious intends to use the funds to develop LOHC plants in Europe, North America, and Asia.

Syzygy Plasmonics (Syzygy) develops photocatalytic chemical reactors for fuel cell vehicles and small-scale industrial applications. The company’s technology replaces heat with light to trigger the necessary chemical reactions. This eliminates the need to burn fuel, and its ability to operate at low temperatures reduces costs and emissions.Syzygy’s first commercial product would be a hydrogen production system for small-scale users, such as manufacturers of semiconductors, LEDs, float glass, food oil, metals, and users of hydrogen fuel cell electric vehicles. The company claims its technology has the potential to cut the cost of clean hydrogen in half, compared to other methods such as electrolysis. The company introduced a new reactor with <a href="https://sp-edge.com/updates/15138">light-activated catalysts</a> in December 2022, and in January 2024, the company announced that its Rigel cell is available for order. The Rigel cell is reportedly the world's first light-powered reactor cell for industrial chemical reactions, and can be ordered in stacks designed to produce up to 5 tons of hydrogen per day from ammonia. The company also plans to expand into other reactors such as carbon dioxide to value, fertilizer, and commodity chemicals.In October 2022, the company launched <a href="https://sp-edge.com/updates/13664">CarbonModel.com</a>, an online tool for calculating the carbon footprint and levelized cost of hydrogen production.Key customers and partnershipsIn August 2022, Syzygy entered into a <a href="https://sp-edge.com/updates/12644">joint development agreement</a> with LOTTE Chemical, LOTTE Fine Chemical (a South Korean chemical company), and Sumitomo Corporation of Americas (SCOA), an oil and energy company, to test an all-electric chemical reactor to produce clean hydrogen.In January 2023, the company announced a partnership with the nonprofit research institute RTI International to conduct a pilot project for sustainable fuel production (by converting carbon dioxide and methane into low-carbon fuels) at its facility in North Carolina.Funding and financialsSyzygy received a strategic investment from Mitsubishi Heavy Industries (MHI) in October 2023. The investment gives MHI greater insight into Syzygy's strategic priorities and the ability to support its business execution plans. Prior to this, the company last raised funding in November 2022, when it raised <a href="https://sp-edge.com/updates/14707">USD 73 million</a> in a Series C funding round led by Carbon Direct Capital. In April 2021, Syzygy raised USD 23 million in a Series B funding round led by Horizons Ventures. Proceeds are expected to be used for team expansion, product development, and commercialization.

Canada-based Ionomr Innovations develops and manufactures ion-exchange membranes and polymers for clean energy applications, including hydrogen electrolyzers and fuel cells. The company’s product portfolio consists of “Pemion” and “Aemion.” Pemion is its proton exchange membrane (PEM) product, which can be used in PEM electrolysis and PEM fuel cells. Aemion, its anion exchange membrane (AEM) product, can be used in AEM electrolysis and AEM fuel cells. The company claims that Aemion is stable in both highly basic and highly acidic scenarios, which in turn allows production and use of hydrogen without the need for precious metals, unlike traditional PEMs. The company has its research and development and manufacturing facilities are located in Vancouver, Canada.Key customers and partnershipsIn June 2023, Ionomr and Cipher Neutron, a provider of AEM electrolyzers and reversible fuel cells, entered into an agreement to develop North America’s first 250 KW AEM hydrogen electrolyzer. The electrolyzer will commercially produce affordable, high-volume hydrogen gas for governments and industries seeking to reduce pollution and emissions. Previously, in April 2023, the company entered into a collaboration with Sunfire, a provider of industrial electrolyzers based on pressurized alkaline and SOEC technologies, to develop an AEM electrolyzer in the upper double-digit kW range for industrial scale-up using Ionomr’s Aemion anion exchange membranes.Funding and financialsIonomr's latest funding was in <a href="https://sp-edge.com/companies/455529#:~:text=funding%20was%20in-,December%202023,-%2C%20when%20the%20company">December 2023</a>, when the company raised USD 20 million in a Series A-4 funding round led by NGIF Cleantech Ventures and Pallasite Ventures. Ionomr intended to use the funds to enhance and expand the manufacturing of its core products, Aemion and Pemion. Prior to this, in <a href="https://sp-edge.com/updates/7885">January 2022</a>, Ionomr raised USD 15 million in a Series A funding round. The proceeds were used to scale up the production of its ion-exchange membranes and polymers, as well as the company’s planned <a href="https://sp-edge.com/updates/8551">R&amp;D</a> facility in the US.In September 2023, the company graduated from the Shell GameChanger Accelerator Powered by NREL (GCxN), an accelerator program that provides select cleantech startups with access to funding, facilities, and technical experts.

Canada-based Aurora Hydrogen produces green hydrogen by using microwave energy. The company’s proprietary microwave pyrolysis technology heats natural gas in the absence of oxygen and water to produce green hydrogen and solid carbon with zero emissions. This process uses 80% less electricity than electrolysis, which is the conventional method of producing green hydrogen.As announced in March 2023, the company is building a 200-kg-per-day hydrogen demonstration plant for field trials in Edmonton, Canada. The month before, Aurora Hydrogen and Acceleware equally shared a grant of CAD 2 million (USD 1.5 million) from Alberta Innovates to jointly develop a two-year green hydrogen project using methane pyrolysis using radio frequency energy.Key customers and partnershipsIn September 2022, the company entered into a partnership with Acceleware, which is working to develop new Clean Tech Inverter (CTI) industrial heating applications through collaborative partnerships, and which will use its collaboration with Aurora to produce CTI-powered clean hydrogen via methane pyrolysis. In September 2023, Aurora entered into a software license agreement with CPFD Software to use its Barracuda Virtual Reactor to improve understanding and accelerate technology development of a fluidized bed-based methane pyrolysis pilot plant.Funding and financialsIn February 2023, the company received a CAD 2 million (USD 1.5 million) grant from Alberta Innovates, followed by a CAD 3.9 million (USD 3 million) grant from Sustainable Development Technology Canada (SDTC). The funds were used to further scale up Aurora’s green hydrogen production technology. In August 2022, the company raised CAD 12.85 million (USD 10 million) in a Series A funding round led by Energy Innovation Capital.Key competitors: None comparable (produces green hydrogen using microwave energy)

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

Blue Planet captures carbon dioxide (CO2) from industrial sites and converts it into carbonate rocks such as limestone, where CO2 is stored permanently. Blue Planet’s Geomimetic technology combines CO2 from any source with alkaline industrial waste to make high-performance aggregates that sequester and permanently store CO2. The portfolio consists of aggregates, concrete, and solar reflectance (roofing shingles).San Francisco (SF) Bay Aggregates, a wholly-owned subsidiary of Blue Planet Systems, is building the first commercial facility to deploy Blue Planet Systems' patented Geomimetic technology in California. In February 2021, Blue Planet entered into a memorandum of understanding (MoU) with Chiyoda Corporation (Japan) and Mitsubishi Corporation (Japan) to accelerate the commercialization of its Geomimetic technology. In June 2021, Blue Planet partnered with Sulzer Chemtech to deploy Sulzer’s carbon capture unit at Blue Planet’s pilot plant. The two companies extended their collaboration to develop green concrete solutions in <a href="https://sp-edge.com/updates/15084">December 2022 </a>.Key customers and partnershipsBlue Planet’s last funding round was in January 2024, when it announced new funding and a strategic collaboration with Marathon Petroleum Corporation to advance the commercialization of its carbon sequestration technology.

Canada-based Carbon Engineering (CE) specializes in direct air capture (DAC) and air-to-fuel (ATF) technologies. The company’s pilot DAC plant in British Columbia captures one ton of carbon dioxide (CO2) per day.Key customers and partnershipsCE has partnered with Oxy Low Carbon Ventures (the venture capital arm of the oil and gas company Occidental Petroleum) to build its first commercial DAC facility in Texas Permian Basin. The proposed facility will capture one million tons of CO2 per year. The construction of the plant is expected to begin in 2022 and be completed by 2024. CE has also begun engineering at its <a href="https://sp-edge.com/updates/14178">second DAC facility</a> in Kleberg County, Texas to capture 30 million tons of CO2 per year. The site is expected to begin operations by late 2024. CE also has a partnership with Storegga Geotechnologies to deploy its DAC technology in the UK. In June 2022, CE extended its collaboration with <a href="https://sp-edge.com/updates/10949">1PointFive</a> to deploy DAC projects globally.CE allows customers to pre-purchase carbon removal quantities from its future projects. In March 2021, Shopify became CE’s first customer, having reserved 10,000 tons of carbon removals. CE has also partnered with BeZero (a British climate asset and liability management company) for a joint retail offering that allows customers to purchase carbon removals through BeZero’s website. In November 2021, CE also signed up BMO Financial Group, a Canadian financial service provider, as a new customer and plans to deliver 1,000 tons of carbon removal units.CE estimates the net cost of its DAC technology to be around USD 94–232 per ton. The net cost of capture from its proposed one-megaton commercial plant is expected to be “little less than USD 200 per ton”. The company has also reported that its net cost of capture needs to fall below USD 150 per ton for the technology to make commercial sense.In October 2021, CE also partnered with Huron Clean Energy (Canada), The Upper Nicola Band (Canada), and Oxy Low Carbon Ventures to develop a large-scale facility in British Columbia to convert captured CO2 and water into sustainable fuel. The facility is expected to begin construction in 2023, and operations are targeted to commence in 2026. In November 2021, the company partnered with Air Canada to explore sustainable aviation fuel (SAF) opportunities.In<a href="https://sp-edge.com/updates/21044"> August 2023</a>, Occidental Petroleum announced a definitive purchase agreement to acquire Carbon Engineering for USD 1.1 billion in cash. The deal was closed in <a href="https://www.blg.com/en/about-us/deals-and-suits/2023/11/occidental-petroleum-completes-us1-1-billion-acquisition-of-carbon-engineering-ltd#:~:text=On%20November%203%2C%202023%2C%20Occidental,equity%20of%20Carbon%20Engineering%20Ltd.">November 2023</a>.

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.CCS claims that its next-generation proprietary CCUS technology has a carbon capture rate of over 90%. CCS’s modularized and containerized carbon capture solution is reported to be around 10x smaller and around 50% cheaper than traditional open-plant designs. CCS’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.Key customers and partnershipsIn May 2024, Carbon Clean announced the <a href="https://sp-edge.com/updates/29167">installation</a> of carbon capture units at Ørsted's "FlagshipONE," the largest e-methanol project in Europe.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’s (a Mexican supplier of building materials) Rudersdorf <a href="https://sp-edge.com/updates/6389">cement plant</a> in Germany.Carbon Clean signed a <a href="https://sp-edge.com/updates/22500">joint development agreement</a> (JDA) with Samsung Engineering in October 2023 to develop Onboard Carbon Capture Solutions (OCCS) projects. &nbsp;In August 2024, the company partnered with <a href="https://sp-edge.com/updates/33026">Petronas</a>, a Malaysian oil and gas company, to explore carbon capture solutions. In October 2024, Carbon Clean partnered with&nbsp;<a href="https://sp-edge.com/updates/34617">BCCK</a>, a gas processing technology company, to deliver carbon capture technology in the US. In the same&nbsp;<a href="https://sp-edge.com/updates/34764">month</a>, the company collaborated with BHP, an Australian mining company, and JSW Steel, an Indian steel producer, to explore carbon capture technology in the Indian steelmaking process.

Canada-based Svante provides carbon capture solutions for industrial operations. Svante’s technological focus is on carbon absorbents; it believes that conventional adsorbents lack the sophistication and properties required for economical and scalable carbon capture. Svante claims that its patented “structured absorbents” are engineered to capture and release carbon dioxide in less than 60 seconds, compared to hours taken by conventional technologies.Key customers and partnershipsSvante has forged significant partnerships to advance its carbon capture solutions, including collaborations with large industrial players like LafargeHolcim, OLCV, and Total Energies. These partnerships focus on implementing Svante’s technology in sectors like cement production, which are crucial for achieving large-scale carbon capture and storage (CCS) implementations.In April 2023, Svante signed an MoU with <a href="https://sp-edge.com/updates/18205">Pilot Energy Limited</a>, an Australian oil and gas exploration and production company, to offer carbon capture and storage (CCS) solutions in Western Australia. In May 2023, Svante teamed up with <a href="https://sp-edge.com/updates/18572">Carbon America</a>, a similar carbon capture startup to deploy commercial CCUS projects in the US. In August 2023, the company entered into a partnership with <a href="https://sp-edge.com/updates/21124">Deep Sky</a>, a Canadian carbon removal project developer, to evaluate the feasibility of carbon sequestration in the St. Lawrence River Valley in Southern Quebec. In October 2023, Svante signed an MOU with <a href="https://sp-edge.com/updates/22501">Samsung Engineering</a> to develop commercial carbon capture, utilization, and storage (CCUS) projects in Asia and the Middle East. This collaboration was followed by Svante signing a commercial supply agreement for Svante's proprietary sorbent material, CALF-20 with <a href="https://sp-edge.com/updates/22601">BASF</a>. In the same month, the company signed an MOU with <a href="https://sp-edge.com/updates/22815">Storegga</a> Geotechnologies to develop CCUS projects by combining Svante's carbon capture and removal filter technology and Storegga's CO2 transportation and storage expertise.In January 2024, Svante partnered with <a href="https://sp-edge.com/updates/25643">Rescale</a> to advance its carbon capture technology with the latter’s high-performance computing (HPC) platform to run extensive simulations and analyze large datasets. Following that, the company agreed to supply its contractor blocks for <a href="https://sp-edge.com/updates/26117">Climeworks’</a> US projects. In February 2024, Svante announced a collaboration to deploy a first-of-its-kind commercial-scale carbon capture plant at <a href="https://www.svanteinc.com/press-releases/svante-to-deploy-first-of-a-kind-commercial-scale-carbon-capture-plant-at-delek-uss-texas-refinery-with-doe-support/">Delek US</a>'s refinery in Texas.&nbsp;

AI-based solutions for evolving digital threats

Next-gen Cybersecurity

<div>
 
 Being founded from US Department of Defense research, Mission Secure provides an OT cybersecurity platform to monitor, protect and provide incident response for its clients in the chemical, defense, manufacturing, oil &amp; gas, power, smart cities, and maritime industries. The platform uses a patented signal integrity device and a dual approach to protect Level 0 process devices (eg - control valves, pumps, compressors) and Level 1 assets (controllers and improvised explosive devices) to prevent signal spoofing and system failure. Mission Secure&rsquo;s platform also includes zero-trust access capabilities which was incorporated into its platform in partnership with XONA, a developer of zero-trust access solutions. The zero-trust user access layer includes an integrated closed-loop multi-factor authentication (MFA), browser-based virtual desktop infrastructure (VDI), and moderated secure file transfer, among other things, to enable remote workforces to securely access and engage in remote OT applications.
 
 
 
 
 During the Covid-19 pandemic, the company launched its First Look OT Cybersecurity Reconnaissance service for the remote protection of industrial control systems (ICS). In February 2021 professional services firm, Ince collaborated with Mission Secure to launch InceMaritime, a cybersecurity solution to protect maritime OT networks.
 
 
 
 
 In January 2021, the company raised USD 5.6 million in a Series B funding round led by Ireon Ventures Ltd, Energy Innovation Capital, and Blue Bear Capital Partners for product development and recruitment of new cybersecurity experts to support its 24/7 managed services operation.
 
</div>

<div>
 
 Xage Security offers the zero trust security platform Xage Fabric to protect critical infrastructures such as energy (renewable, oil and gas pipelines), transportation, utilities, manufacturing, smart cities, and logistics. Xage Security&rsquo;s mesh-protected Fabric provides zero trust identity, data security, and secure access across OT, IoT, and cloud infrastructure. Xage Fabric is a mesh of software organized in nodes on a blockchain. It uses distributed ledger technology (DLT) to provide granular access control of every digital interaction to limit the impact of cyberattacks. This also prevents the hacker from using any compromised nodes to change policies, access data, or steal passwords. Xage Fabric uses network tunneling techniques to provide secure access to IoT systems. It also allows companies to create a cybersecurity rule dataset and ensures that the rules are enforced even if it is moved to a different system. The company offers identity and access management (IAM), remote access, and dynamic data security solutions, powered by the Xage Fabric.
 
 
 Xage Security reported YoY revenue growth of 300% and an increase in new customer deployment by 5x across the energy, defense, utilities, manufacturing, and logistics industries in 2021. Xage serves top-five global energy companies and top-five US pipeline operators. Notable customers include US Space Force, US Air Force, Saudi Aramco, Water Resources Recovery Facility, and ComEd. Xage Security helps the US Air Force with secure data sharing and has also partnered with several renewable energy companies to provide secure data access. It has leveraged machine learning to protect the grid balancing data of utility companies. The company&rsquo;s partner count rose 500% and partner revenue increased by more than 1,000% over 2020. Xage generates a significant portion of its business through indirect partners such as 1898 &amp; Co., Iron Bow, Stratus, and Agora. Xage Security reported that two-thirds of its customers are accelerating product rollouts to address rising cybersecurity risks and to meet federal regulations by the end of 2022. The company also reported that one of its customers intended to roll out the product to nearly 1,000 sites over a period of 12&ndash;18 months.
 
 
 In January 2022, the company 
 <a href="https://sp-edge.com/updates/7582">
 raised USD 30 million
 </a>
 in a Series B funding round led by Piva. The funds were expected to be utilized to increase its customer base, develop new product capabilities, increase its headcount of 45 by 90 in 2022, and scale its growth significantly. The company 
 <a href="https://sp-edge.com/updates/10389">
 secured a USD 6 million
 </a>
 extension to its Series B funding round from the venture arm of SCF Partners and Overture Climate Fund in May 2022. The funds were expected to be used to develop new product features, support growing demand, and expand its go-to-market operations.
 
</div>

<div>
 
 Claroty is an industrial cybersecurity company that provides security across operation technology (OT), Internet of Things (IoT), and industrial IoT (IIoT) corporate assets. The platform provides visibility, threat detection, risk and vulnerability management, and secure remote access for corporate digital infrastructure. The company also operates across Europe, Asia-Pacific, and Latin America with deployments across the world in industries such as energy, consumer products, critical manufacturing, pharmaceuticals, and utilities. Claroty is backed by top industrial automation vendors such as Rockwell Automation, Schneider Electric, and Siemens who are both customers and investors.
 
 
 Key customers and partnerships
 
 
 Since 2020, Claroty has experienced 110% year-over-year (YoY) growth in new customers and maintained 100% customer retention. The company expects 133% YoY growth in annual recurring revenue between H1 2020 and H1 2021. The company also expanded its partner coverage by 50% over 2020 with the additions of companies such as Deloitte, KPMG, PwC, CrowdStrike, Atos, and Yokogawa.
 
 
 In June 2023, Claroty announced an integration with Siemens Healthineers, incorporating the firm&rsquo;s Medigate platform into Healthineers&rsquo; ActSafe healthcare cybersecurity solution to offer healthcare providers deeper visibility into their networks, along with vulnerability and management insights. 
 
 
 Funding and financials
 
 
 Claroty raised USD 400 million in Series E funding, in a round co-led by SoftBank Vision Fund 2, Schneider Electric, and Bessemer Venture Partners that reportedly valued the company at nearly USD 2 billion. Claroty had earmarked most of the funding for the acquisition of healthcare-focused IoT security startup, Medigate. The new funds were also to be used to support Claroty&rsquo;s product development and international expansion. Medigate provides IoT security solutions, such as anomaly detection, to over 1,000 healthcare facilities. Claroty expects this acquisition to help expand its footprint beyond the industrial and manufacturing spaces. 
 
</div>

Generating, collecting, and analyzing enterprise data will never be the same.

Edge Computing

Zededa was founded in 2016 and came out of stealth in 2018 to offer an open edge ecosystem to provide visibility, control, and security when deploying apps remotely on the edge, regardless of the hardware used. The company commercially launched its remote management software in January 2021. The platform allows developers to avoid vendor lock-in and additionally offers support for industries facing more complex edge applications. Moreover, Zededa allows enterprises to mix old and new technology seamlessly, making it for industries like surveillance. The red company has an office in Pune, India, in addition to its headquarters in San Jose, California.In July 2023, the company released a suite of edge application tools including “Edge Access,” which provides access controls and audit tracing for edge deployments. Users can remotely access edge devices from any location at any time without requiring backend configuration or specialized skills.<a href="https://sp-edge.com/updates/24108">In November 2023,</a> the company announced a new service named ZEDEDA Edge Kubernetes Service, offering a fully managed Kubernetes service for distributed edge.Key customers and partnershipsThe company has a substantial customer base, with numerous Fortune 500 enterprises spanning various industries like manufacturing, renewable energy, telecommunications, and healthcare. Prominent clients include Rockwell Automation, Emerson, Agora, and VMware.Zededa collaborates with leading technology firms through its global ZEDEDA marketplace, granting partners direct entry to edge operations teams. This marketplace facilitates swift scalability for customers across thousands of edge devices with one-click deployments, eliminating the need for extensive professional services. Notable partners encompass Microsoft, Suse, Juniper Networks, AWS, Rafay Systems, Aviatrix, Fortinet, and more.Through Zededa's technology partnerships, customers can procure hardware devices and have them shipped directly to their intended destinations. This adaptable approach reduces solution expenses and empowers technology providers to offer optimal value to their clientele. Noteworthy partners in this initiative comprise Dell, Supermicro, HP Enterprise, Equinix, and others.During 2023, Zededa collaborated with Applied Digital in August, a company specializing in advanced digital infrastructure for High-Performance Computing, to use ZEDEDA's management and orchestration software. In May, it also partnered with Avassa, a container management platform tailored for edge environments, to facilitate comprehensive orchestration across the entire stack, ensuring security and visibility from hardware to edge applications.Zededa is also a part of multiple industry consortiums to use edge computing to address emerging issues faced by the energy industry. These collaborations include the OSDU Forum as well as LF Energy and Project Alvarium, which are part of the Linux Foundation (a non-profit group to standardize and support the adoption of Linux). In December 2022, the company extended its partnership with Emerson to integrate its edge application management and orchestration solution into Emerson’s DeltaV automation system. This would in turn enable Emerson’s customers to extend this automation system into the distributed edge.Funding and financialsIn <a href="https://sp-edge.com/updates/26448">February 2024</a>,it raised USD 72 million in a Series C funding round led by Smith Point Capital, with participation from Hillman Company, LDV Partners, Endeavor Catalyst Fund, Juniper Networks, and others. The funds were directed toward expanding sales and marketing endeavors and speeding up R&amp;D.In January 2023, the company announced that it had grown its annual revenue growth by 300%, and nodes under management by 250% over the previous year.

Nubix offers software that enables internet of things (IoT) and edge applications by allowing developers to process data at the source (sensor devices). It achieves this by addressing the rigidity and riskiness of updating microcontrollers (MCUs) through a real-time operating system (RTOS) container and services solution for MCUs. The RTOS containers bring the focus on building functionality and increase the flexibility of the applications.Nubix raised USD 2.7 million in seed funding in December 2020, which it intends to invest in expanding its engineering efforts.

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

Gr3n Recycling is a Switzerland-based polyethylene terephthalate (PET) recycling company that uses microwave-assisted alkaline hydrolysis to break down any type of PET and polyester plastic into its two core components: Purified terephthalic acid (PTA) and mono ethylene glycol (MEG), which can then be re-assembled to obtain virgin-like plastics. Using electricity to break down PET waste takes three to five hours at 210°–250ºC, and transforming these materials without any fossil fuel materials into virgin-like plastics occurs within 10 minutes at temperatures below 200ºC.It also operates a platform called “P-Turn,” which is organized into four phases: Mapping, building, connecting, and closing, to collect material such as polyester/polyester blends in an efficient and convenient way.As of March 2024, the company operates a demonstration plant in Chieti, Italy, at a scale of 30,000 tons per year. In March 2024, the company also developed an industrial demonstration plant, utilizing their microwave-assisted technology, MADE, installed at GR3N’s research and manufacturing facility in Albese con Cassano. This plant includes a depolymerization reactor capable of processing 60 kg of PET per hour.Key customers and partnershipsIn August 2021, Gr3n signed a Memorandum of Understanding (MOU) with Kolon Industries, a Korean chemical and textile manufacturing company, to accelerate the commercialization and the implementation of Gr3n’s technology throughout Asia and expand Kolon’s sustainable plastic business. In April 2023, the company signed an MOU with Alcantara, an Italian lifestyle brand, to recover end-of-life raw materials and production waste through depolymerization to obtain virgin PET-like material for new applications after achieving positive pilot scale tests. The company continued its commercialization efforts, signing an MOU in July 2023 with its shareholder, <a href="https://sp-edge.com/updates/20479">Intecsa Industrial</a>, a leading Spanish engineering company, to set up a joint venture and build a production facility in Spain with a capacity to produce around 40,000 tons of virgin PET chips from recycled monomers. The engineering, procurement, and construction (EPC) phase will start in Q4 2024 and is scheduled to be operational in 2027.&nbsp;Funding and financialsIn March 2022, Gr3n Recycling received a CHF 2.5 million (~USD 2.8 million) grant from the State Secretariat for Education, Research and Innovation (SERI). In September 2021, the company raised EUR 6.3 million (~USD 6.9 million) in a Series B funding round from Chevron Technology Ventures and Standex International. The company intended to use the funds to further expand the company and commercialize its technology.&nbsp;

Li Industries is a developer of lithium-ion (li-ion) battery sorting and recycling technologies using machine learning and automation. The company offers two solutions: Smart Battery Sorting (SBS), and Direct Li-ion Battery Recycled (DLBR) technologies.The SBS solution is the company’s proprietary sorting method which uses machine learning to identify different kinds of battery chemistries and automates the process, allowing battery chemistries to be sorted and separated for recycling. The DLBR solution looks at safely discharging li-ion batteries, and separating battery components using its proprietary sorting method, after which it can regenerate cathode and anode waste to produce commercial-grade battery materials.&nbsp;As of August 2022, Li Industries planned to build a commercial battery sorting and recycling facility in the US, scheduled to open in 2023.Key customers and partnershipsIn April 2022, the company partnered with <a href="https://sp-edge.com/updates?industryIds=54">Call2Recycle</a>, a nonprofit organization operating recycling programs, to set up a lithium-ion battery recycling process using Li Industries’ technology, with plans to commercialize it in 2023.Funding and financialsIn August 2022, Li Industries had raised USD 7 million in a <a href="https://sp-edge.com/updates/12021">Series A </a>funding round led by Khosla Ventures to bring its battery sorting and recycling technology and operation to full scale.

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

Digital Twin

Seeq is a provider of data analytics enabling insights, predictions, and collaboration for better production and business outcomes.The company’s product portfolio includes software for data analytics including 1) Seeq Workbench for advanced analytics, 2) Seeq Organizer for publishing reports and dashboards, 3) Seeq Data Lab for accessing Python libraries, and 4) Seeq Cortex for IT governance, data connectivity, and calculation features. Furthermore, the company provides deployment via cloud, SaaS solutions, and on premise depending on the customer’s system.Key customers and partnershipsThe company provides its services in more than 40 countries focusing on process manufacturing industries, including oil and gas, pharmaceutical, chemical, energy, mining, and food and beverage. In June 2024, Seeq partnered with Equinor, an international energy company, to leverage Seeq's platform across Equinor's global assets.Seeq’s software is built on long-term vendor partnerships such as SIsoft, Honeywell (since 2017), and Siemens (since 2017). Seeq has also partnered with Amazon Web Services (AWS) and Microsoft Azure to develop features specific to their offerings, recognizing Seeq's expertise in providing cloud solutions for the manufacturing and industrial sector. Other partners include Schneider Electric and Inductive Automation.

Worlds (formerly Hypergiant Sensory Sciences) is developing a digital twin platform for industrial companies using computer vision, AI and IoT sensors. The captured data is used to map out the physical space of a facility to generate a coordinate system which creates the digital twin. The platform enables companies to automate, enhance and monitor operations.&nbsp;The company operates a B2B business model, targeting companies in the industries such as energy, distribution and logistics, manufacturing and transportation.&nbsp;Key Customers and PartnershipsAs of June 2024, the company’s key customers and partners include Chevron, Accenture, Microsoft and slalom. Funding and FinancialsIn January 2023, the company raised USD 21.2 million in Series A funding led by Moneta Ventures. The funds were allocated towards development of the company’s platform, expansion of go-to-market partnerships, and accelerating adoption by industrial companies.&nbsp;As of January 2023, the company reported over 400% YoY growth in annual recurring revenue.

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

Quantum Computing

UK-based Oxford Quantum Circuits (OQC), spun out of the University of Oxford, uses superconducting technology to develop quantum computers. The company’s proprietary quantum bit “Coaxman” uses a 3D architecture that simplifies fabrication, improves coherence, and boosts scalability.OQC claims to be the “first in the UK” on several fronts including 1) building UK’s first and only commercial quantum computer in 2018, 2) building the UK's first and only commercially available quantum laboratory in 2020, 3) releasing the UK's first commercially available quantum-computer-as-a-service platform (QCaaS) in July 2021. It is also reportedly the first European quantum company to offer its systems on Amazon Braket, following the launch of its latest system Lucy in February 2022. The QCaaS platform was developed solely using its proprietary technologies and will be available to enterprises via OQC’s private cloud.Key customers and partnershipsOQC has formed partnerships with universities and other quantum computing companies such as Riverlane and Cambridge Quantum Computing (CQC). The company is also part of the consortium founded by Riverlane for the purpose of building a quantum operating system, which was awarded a GBP 7.6 million (USD 10.5 million) grant from the UK Government as part of its “Industrial Challenge Strategy” fund. CQC will be the first user of the QCaaS platform to demonstrate its IronBridge cybersecurity platform and will be given access to OQC’s 4-qubit quantum computer “Sophia.”In December 2023, the company partnered with <a href="https://sp-edge.com/updates?companyIds=518081">Classiq </a>to simplify the adoption and execution of advanced quantum computing across industries and research fields. In July 2023, <a href="https://sp-edge.com/updates/20306">Q-CTRL </a>and OQC partnered to improve algorithmic performance of quantum computers to assist quantum developers, researchers, and end users in solving complex problems.Funding and financialsIn November 2023, OQC raised USD 100 million in a <a href="https://sp-edge.com/updates/24398">Series B </a>funding round led by Japan's SBI Investment. The funds were allocated toward the company’s R&amp;D activities to achieve quantum advantage and deliver next-level quantum computing platforms with hundreds of qubits to global companies.

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

<div>
 
 Illumina is a leading next-generation sequencing company providing genomic analysis tools to research and the pharmaceutical markets. Through acquisitions like Solexa in 2006, Illumina has driven down the cost of sequencing and enabled advances in genetic research and molecular testing. Illumina&rsquo;s technology has helped decrease genetic testing costs from USD 100 million to under USD 600 in 2020. Its sequencing instruments support applications from disease research to clinical oncology and prenatal testing.
 
 
 &nbsp;In 2021, Illumina acquired liquid biopsy firm GRAIL for USD 8 billion but faced regulatory challenges to close the deal in the US and EU.&nbsp; A ruling in favor of Illumina by the US was announced in September 2022, while the EU blocked the acquisition. In response, Illumina was exploring possibilities of divesting GRAIL and appealing the decision. In June 2022, the firm acquired the metagenomics company IDbyDNA.&nbsp;In December 2023, Illumina announced that the company will divest GRAIL via a third-party sale or capital markets transaction, as per the European Commission's divestiture order, to finalize the terms by the second quarter of 2024.
 
 
 Illumina also backs genomic startups through its Illumina Accelerator fund, which has invested in 74 companies globally and has raised more than USD 1 billion in funding.
 
 
 Key Customers and Partnerships
 
 
 Illumina develops a variety of next-generation sequencing products for in vitro diagnostic use (companion diagnostics) via partnerships with large pharmaceutical companies such as Eli Lilly, Bayer, Bristol-Myers Squibb, Merk, Janssen Biotech, Roche, 
 <a href="https://sp-edge.com/updates/13708">
 AstraZeneca 
 </a>
 and Amgen.The company also collaborates with other precision medicine companies, such as Syapse, QIAGEN, 
 <a href="https://sp-edge.com/updates/16829">
 Myriad Genetics 
 </a>
 , 
 <a href="https://sp-edge.com/updates/17649">
 Henry Ford Health 
 </a>
 , GeneSeeq, 
 <a href="https://sp-edge.com/updates/19454">
 Breast Cancer Canada, 
 </a>
 <a href="https://sp-edge.com/updates/20403">
 Pillar Biosciences
 </a>
 and has strategic partnerships with healthcare systems and insurance providers.
 
 
 In November 2023 Veracyte and Illumina entered into a long-term collaboration aiming at developing decentralized in vitro diagnostic (IVD) tests. The collaboration targeted to develop and offer these IVD tests via Illumina&rsquo;s advanced NextSeq 550Dx next-generation sequencing instrument. The tests devised were expected to be majorly used to diagnose and devise treatment plans for specific ailments, such as cancerous lung nodules and early-stage breast cancer. 
 
 
 Illumina and China-based biotech company HaploX entered into a collaboration in December 2023, to launch the NextSeq 2002Dx-CN-HAP, a new genetic sequencing system developed in Shenzhen, China. This sequencing system incorporates bioinformatics analysis capabilities with its onboard DRAGEN server and offers a flexible environment for library amplification, sequencing, and genomic analysis. The partnership aimed to support the growth of scientific research, clinical applications, and to influence the biomedical field in and around the Guangdong-Hong Kong-Macao Greater Bay Area. 
 
 
 Funding and Financials
 
 
 Founded in 1998, Illumina became a public company in 2000, trading on Nasdaq under the symbol &ldquo;ILMN.&rdquo; In January 2023, the company secured a USD 750 million five-year revolving credit facility from Bank of America. The new funds were allocated towards financing the company&rsquo;s working capital and for general corporate expenses.
 
 
 For 
 <a href="https://sp-edge.com/updates/17357">
 FY2022 
 </a>
 revenue increased 20% YoY to USD 97.7 million and the net loss worsened by 24.8% YoY to USD 109.2 million. It reported a net income of USD 13 million for 
 <a href="https://sp-edge.com/updates/18011">
 Q1 2023 
 </a>
 , down 92.3% YoY while revenue reached USD 1.09 billion for the quarter, down 11% YoY. For 2023, Illumina maintained its expected top-line growth of 7%&ndash;10% and GRAIL revenue of USD 90 million&ndash;110 million for the year.
 
 
 
</div>

Electrifying passenger and commercial travel

EV Economy

<div>
 
 ChargePoint manufactures and operates EV charging stations. The company operates the largest EV charging network in the US, with a market share of around 47% as of 2020. ChargePoint does not participate in revenue generated from charging fees; it sells the charging infrastructure to third-party hosts (parking lots, supermarkets, fuel stations, residential properties, etc.). These hosts are eligible for the entire charging fee revenue or could opt to provide the service for free.&nbsp;&nbsp;
 
 
 The company provides both hardware and software charging solutions. Hardware solutions include Level 1, Level 2, and DC fast-charging stations. Hosts can also subscribe to software solutions that enable them to manage and optimize charging stations. Some SaaS features include being able to set the price for charging, enabling a waitlist for drivers to queue efficiently, integrations with fleet fuel cards, and real-time advanced analytics to monitor the performance and health of a charging station. ChargePoint estimates a 51%&ndash;49% split between hardware and software revenue throughout the useful life of a charging station (around seven years). In 
 <a href="https://sp-edge.com/updates/22908">
 October 2023
 </a>
 , the company reported that it is preparing to provide North American Charging Standard (NACS) connector support for its AC and DC charging solutions in the form of cable conversion kits for its customers. In 
 <a href="https://sp-edge.com/updates/29225">
 April 2024
 </a>
 , ChargePoint partnered with Jumptech to provide an efficient home charger installation experience for fleet ChargePoint customers and reduce the average time from charger order to installation.
 
 
 Key customers and partnerships
 
 
 ChargePoint had deployed 163,000+ charging stations across North America and Europe as of January 2022.&nbsp;
 
 
 In January 2023, the company partnered with Stem in January 2023 to accelerate the deployment of EV-charging and battery storage solutions for highway corridor DC fast charging. In April 2023, ChargePoint partnered with ALD Automotive to create a European EV-charging business and provide access to a charging network of over 485,000 charging ports across Europe using a single app. In 
 <a href="https://sp-edge.com/updates/27234">
 February 2024
 </a>
 , the company partnered with AcBel Polytech to co-design hardware for ChargePoint&rsquo;s portfolio of EV-charging solutions.
 
 
 Funding and financials&nbsp;
 
 
 The company&rsquo;s most recent funding was in 
 <a href="https://sp-edge.com/updates/22909">
 October 2023
 </a>
 , when it raised USD 175 million in new equity funding from institutional investors through its at-the-market (ATM) offering facility. ChargePoint also raised USD 57 million in additional funds through the same facility in Q3 FY2024. The funds raised will support the company to achieve adjusted EBITDA profitability in Q4 FY2024. Prior to this in 
 <a href="https://www.chargepoint.com/about/news/chargepoint-secures-150-million-revolving-credit-facility-jp-morgan-hsbc-citi-and">
 July 2023
 </a>
 , ChargePoint secured a USD 150 million revolving credit facility.
 
 
 The company was listed on the NYSE through a SPAC merger in March 2021, making it the first pure-play EV-charging infrastructure company to go public. The deal generated USD 493 million at a valuation of USD 2.4 billion and the proceeds were to be used to support expansions in North America and Europe.&nbsp;
 
</div>

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

Smart Building Technology

Vutility is a leading provider of innovative, non-intrusive, and scalable internet of Things (IoT) enabled energy monitoring solutions. The company's flagship product, HotDrop, is a self-powered, circuit-level energy monitoring device that provides real-time, minute-by-minute data transmission. HotDrop is designed for effortless installation, with a simple snap-around wire connection and QR code onboarding, eliminating downtime and the need for external power sources or batteries.
Vutility's solutions leverage the LoRaWAN wireless protocol, which enables long-range data transmission even in challenging environments like electrical panels and concrete structures. The company's products are highly cost-effective, with the total cost of ownership up to 90% lower than traditional metering and monitoring devices.
In addition to HotDrop, Vutility offers PulseDrop, a solution for monitoring existing utility meters like water, gas, and electric meters by tracking their pulse outputs. The company recently introduced VoltDrop, a non-intrusive, real-time, three-phase power metering solution that can be installed within minutes without interrupting power supply.
Vutility's technologies enable organizations across various industries, including energy efficiency, demand response, sustainability, building automation, and critical equipment monitoring, to gain granular visibility into their energy usage and optimize operational efficiencies.

Deriving insights from uncommon data streams

Alternative Data

Orbital Insight is a leading geospatial intelligence company that provides AI-powered analytics solutions to help organizations gain insights and understand trends from geospatial data. The company's flagship product, the Orbital Insight Go platform, combines multiple data sources such as satellite imagery, anonymized location data, ship GPS, and IoT data to deliver actionable insights through machine learning algorithms. Orbital Insight's technology enables customers across various industries, including government agencies, corporations, and non-profits, to monitor supply chains, analyze land use patterns, detect illegal activities, and make data-driven decisions.
In February 2022, Orbital Insight secured a contract from the US Department of Defense to develop a platform for identifying intentional Global Navigation Satellite Systems (GNSS) interference and manipulation operations worldwide. This technology leverages the company's multisensor data stack and AI capabilities to alert analysts about potential jamming and spoofing events, presenting risks to national security and commercial operations.
Orbital Insight has established partnerships with leading Earth observation companies like Satellogic to enhance its data capabilities. In April 2022, the company announced plans to integrate Satellogic's high-resolution satellite imagery and full-motion video into its platform, providing customers with access to higher quality data, improved revisit rates, and lower-cost analytics.

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

Shipping Tech

Sea Machines Robotics is a pioneering company that develops autonomous command and control systems, as well as advanced perception technology for the maritime industry. Their flagship product, the SM300 Autonomous Command and Control System, enables vessels to seamlessly transition between unmanned autonomous mode and human manual navigation. It employs cutting-edge technologies like artificial intelligence, computer vision, and sensor fusion to facilitate precise control over vessel position, steering, speed, route planning, obstacle avoidance, and data collection during voyages.
In April 2024, Sea Machines unveiled SELKIE, an unmanned surface vessel (USV) designed for various applications such as hydrographic surveys, offshore asset inspections, environmental studies, and security missions. The SELKIE 7, a 7-meter HDPE hull vessel powered by the SM300 system, boasts impressive range and endurance capabilities, with a capacity of up to 500 nautical miles and 15 days of operation. Its robust autonomous functions, intuitive user interface, and survey-ready features, including sonar mounts and payload deployment capabilities, make it a versatile and efficient solution for marine operations.
Sea Machines' technology has demonstrated its potential in groundbreaking achievements. In October 2021, the autonomous tug Nellie Bly, equipped with the SM300 system, successfully completed the world's first 1,000-plus-nautical-mile autonomous and remotely commanded voyage of a commercial vessel at sea, covering 96.9% of the journey in fully autonomous mode.
The company's innovations have garnered significant interest and investments. In February 2024, Sea Machines secured a USD 12 million funding round led by Emerald Technology Ventures and other prominent investors, enabling further technological advancements and market expansion. Additionally, Sea Machines has collaborated with the US Coast Guard (USCG) to evaluate and refine its computer vision technology for maritime domain awareness, collision avoidance, and target detection on USCG vessels.

Taking commercial activities to new heights

Commercial Drone Tech

Flyability is a Swiss company specializing in the development and manufacturing of drones for indoor and confined space inspections. Their flagship product, the Elios 3, is a collision-tolerant drone equipped with a LiDAR sensor for 3D mapping and data collection inside industrial assets and confined spaces. Launched in May 2022, the Elios three is powered by Flyability's proprietary SLAM engine called FlyAware, which combines computer vision, LiDAR technology, and an NVidia graphic engine to create real-time 3D maps and enable the drone to sense its surroundings accurately.
The Elios three features a modular design that allows for customizable payloads, accommodating secondary sensors or equipment based on user requirements. It boasts groundbreaking stability, leveraging data from its three optical cameras and LiDAR sensor to compensate for unpredictable movements, making it incredibly easy to operate. Flyability's Inspector 4.0 software visualizes Points of Interest found during inspections in high-resolution 3D maps, supporting maintenance and planning efforts.
Flyability has been working on the Elios three for four years, conducting extensive research and development, including over 200 field missions to gather feedback and refine the technology. The company collaborated with top universities through Team Cerberus to participate in DARPA's Sub-T challenge for autonomous robotics in underground environments. In March 2024, Flyability introduced the Elios three UT Payload, a game-changing addition developed in collaboration with Cygnus Instruments, transforming the Elios three into a flying Ultrasonic Thickness Measurement (UTM) gauge for conducting accurate thickness measurements and high-resolution A-scans in demanding spaces.
Key customers and partnerships
Flyability has established partnerships and collaborations with various companies and organizations to enhance its technology and expand its reach. In September 2022, the company secured CHF 15 million (approximately USD 15.2 million) in a Series C funding round, led by Japan's SBI Investment and involving new investors such as Cargill and Verve Ventures, as well as existing investors like Dow, ETF Partners, Swisscom, and Future Industry Ventures. Cargill and Dow, both major customers of Flyability, have been utilizing the company's inspection technology to improve worker safety and reduce downtimes.
In March 2024, Flyability unveiled the Elios three UT Payload, developed in collaboration with Cygnus Instruments, revolutionizing indoor inspections with a cutting-edge solution for conducting ultrasonic thickness measurements and high-resolution A-scans. The company has also partnered with GeoSLAM to enable the creation of survey-grade 3D models using software for post-flight data processing.

Ensuring the right people access the right resources at the right time

Identity & Access Management

Xage is the first and only zero-trust real-world security company. The Xage Fabric accelerates and simplifies the way enterprises secure, manage and transform digital operations across OT, IT, and the cloud. Xage solutions include Identity &amp; Access Management (IAM), remote access, and dynamic data security, all powered by the Xage Fabric.

Technology for a regenerative future in agriculture

Regenerative Agriculture Platforms

Boomitra, founded by Aadith Moorthy, operates as an international soil carbon marketplace that aims to increase carbon sequestration in agricultural soil. The company, whose name means "friend of earth" in Sanskrit, partners with farmers and ranchers to implement regenerative land management practices that capture and store carbon in the soil while enhancing soil health, agricultural yields, water quality, and biodiversity. Boomitra utilizes advanced satellite technology and AI to monitor carbon increases in soil, which are then third-party verified as carbon removal credits. These credits are sold to companies and governments looking to offset their carbon emissions, with the majority of the revenue going directly to the farmers and ranchers.
As of April 2024, Boomitra was working with 150,000 farmers and ranchers managing five million acres of land across Africa, South America, and Asia. The company's projects had removed 10 million metric tons of CO2 from the atmosphere. Boomitra's technology allows for continuous monitoring of soil carbon levels throughout the lifetime of a project without the need for constant soil sampling. The company employs dynamic baseline calculations, biogeochemical models, and evaluations of agricultural practices to ensure additionality in carbon sequestration.
Boomitra's approach includes setting aside buffer pools, typically about 20% of measured credits, to cover any unexpected discrepancies in carbon storage levels. The company aims to reach gigaton-scale carbon drawdown by 2030, with a specific target of storing one gigaton of CO2 in soil by that year. In November 2023, Boomitra was announced as The Earthshot Prize Winner in the 'Fix Our Climate' category, recognizing its efforts in combating climate change through innovative technology and regenerative agriculture.
Key customers and partnerships
Boomitra's customer base includes corporations and governments worldwide who purchase carbon credits to meet their sustainability goals. The company works with farmers across multiple countries, with its largest presence in India, where it had approximately 110,000 farmers from 14 states as of December 2023. Boomitra also has projects in Kenya, Rwanda, South America, and Mexico.
In terms of partnerships, Boomitra collaborates with local implementation partners through long-term agreements spanning over 40 years. These partnerships are crucial for providing support to farmers and ranchers in adopting and maintaining regenerative agriculture practices. As of May 2023, Boomitra announced its aim to deliver USD 200 million in carbon finance to farmers and ranchers in the developing world by 2025, leveraging its technology and global partnerships to implement projects that increase soil carbon.

Fueling the future: Tech powering the oil and gas value chain

Oil & Gas Tech

Ingu Solutions specializes in pipeline inspection technology through its flagship product, Pipers. The company's patented technology utilizes miniaturized inline sensors to detect leaks, geometric defects, and deposits that affect pipeline performance and integrity. The Pipers device tracks pressure changes and maps flow rates, hazards, and leak detection within pipelines. Available in three sizes - 1.5-inch, 2.2-inch, and 2.8-inch diameter versions - the technology can be deployed across various fluids including crude oil, freshwater, and gas. The solution eliminates operational downtime during inspections and reduces the need for expensive equipment and on-site engineers typically required for conventional inline inspection methods. The company's technology was certified ISO 9001:2015, validating its quality management systems. The company first commercialized its Pipers technology in 2017.
Key customers and partnerships
Ingu Solutions served more than 75 oil and gas customers globally within the US and Canada, alongside 50 water customers through its partnership with PICA. The company's customer base included major energy companies such as Chevron, Petrobras, Husky Energy, and Whitecap Resources. The company expanded its operations to various regions including South America, Brazil, Australia, and Nigeria.

Radiant is a clean energy startup focused on creating portable nuclear microreactors that replace diesel generators. The Kaleidos microreactor offers a zero-emissions power source suitable for remote locations and critical applications.

Zap Energy's fusion technology stabilizes plasma using sheared flows rather than magnetic fields. Driving electric current through the flow creates the magnetic field, which confines and compresses the plasma. The higher the current, the greater the pressure and density in the plasma. The flow-stabilized Z-pinch approach provides compelling fusion economics and requires less capital than conventional fusion technologies.

Aether Fuels is a cutting-edge climate technology firm that seeks to use ground-breaking methods for creating scalable, affordable, and sustainable fuels to decarbonize ''hard-to-abate'' sectors including aviation and ocean shipping.

PQShield pioneers post-quantum cryptography solutions, securing global technology infrastructures with hardware, software, and cloud-based quantum-safe implementations, and leading standardization efforts worldwide. The company is advancing cybersecurity by developing innovations that secure sensitive data and communications against future quantum computing threats, ensuring robust digital-age security amid evolving technology.

Strohm is a private supply chain company, focused on the offshore wind-to-hydrogen sector.

Claroty is an industrial cybersecurity company that helps customers reveal, protect, and manage OT, IoT, and IIoT assets. The company provides a platform that connects seamlessly with customers' existing infrastructure and programs while offering a full range of industrial cybersecurity controls for visibility, threat detection, risk, and vulnerability management, and secure remote access with a significantly reduced total cost of ownership.

SwissDrones is a Swiss aviation company specializing in development, manufacturing, and operation of long-range unmanned helicopter systems for commercial and public safety applications. The company’s unique twin-rotor aircraft are designed to replace manned helicopters at reduced costs, significantly lower carbon emissions and without putting crews at risk when operating in challenging weather conditions. Main fields of application include aerial surveillance, search & rescue, and critical infrastructure inspection missions. The systems allow for integration of high-end sensor payloads and enable long-range, beyond visual line of sight operations both at day and night with an endurance of multiple hours. SwissDrones’ aircraft are in operation across Asia, Europe, and North America. SwissDrones was founded in 2013 and is based out of Switzerland with its headquarters in Zurich and its manufacturing site in Buchs (St. Gallen). It has been named a Top 50 Global UAV Enterprise by the World UAV Federation and a Top 40 Civil Drone Platform Manufacturer by Drone Industry Insights.

Li Industries is a start-up company focusing on developing the next generation of lithium-ion battery recycling technologies.  Li Industries focuses on recycling lithium-ion batteries from electric vehicles, consumer electronics, and other energy storage systems. The company specializes in recovering valuable materials such as lithium, cobalt, nickel, and other essential metals used in battery production. By efficiently extracting these resources, Li Industries helps reduce environmental waste and supports the creation of new batteries from recycled components, contributing to a more sustainable battery supply chain.

LiNova Energy is a developer of ultra-high energy density batteries. The company pairs its Polymer Cathode with a novel 3-D Lithium Metal anode, a non-flammable electrolyte, and a dendrite-blocking membrane to deliver a sustainable energy storage solution. It reduces the cost of the cathode active material by over 75%, reduces battery weight, and decreases the CO2 emissions associated with the production of traditional cathode materials by over 85%.

ZEDEDA is a provider of distributed edge orchestration and virtualization software. It focused on edge virtualization to deliver visibility, control, and protection for distributed edge gateways, applications, and networks at the enterprise edge as a cloud-based service. It was founded in 2016 and is based in San Jose, California, United States.

An autonomous technology company, Sea Machines Robotics builds autonomous control and navigation systems for the commercial marine and boating industries. It develops advanced control systems for boats and ships, and specialized unmanned surface vessels to enhance operational safety and productivity on the water.  Sea Machines Robotics builds RC NXT, an autonomous control and remote command system for PLC-based wireless control of vessel in existing or new build marine vessels, such as work boats, tugs, and launches; and DP-NXT autonomous control system that upgrades traditional manually piloted vessels to be operated with a reduced or zero on-board crew. It offers solutions for various unmanned applications, such as unmanned bathymetric survey vessels, AUV-tender, unmanned visual inspection of subsea assets, mobile unmanned passive acoustic monitoring, and dual towing.  Michaerl G. Johnson founded Sea Machines Robotics on January 4, 2014. It has its headquarters in Boston in Massachusetts.

Ammobia is a chemical manufacturing company that specializes in the clean production of ammonia through renewable hydrogen and air.

Ionomr is pioneering and commercializing the world's most advanced ion-exchange materials. These provide an enabling platform for clean tech solutions after more than five decades of stagnation in available materials. Using our deep knowledge of scalable electrochemical systems, we enable more efficient systems that will lead to the decarbonization of the planet for future generations. To date, electrochemical applications in the clean tech realm use materials that contain toxic fluorinated chemicals (PFCs). PFCs leach into water sources and bioaccumulate for hundreds of years, having a dire impact on human health and the entire ecosystem. We are driven to replace these materials with our environmentally friendly hydrocarbon alternatives that reduce pollution at the source, and are proven to be more durable and efficient than incumbent materials. Ionomr's membranes and polymers are highly processable, which allow for simple integration into electrochemical systems. We enable optimal performance in applications for chemical & water remediation, energy storage and hydrogen. We are passionate about empowering the development of resilient and sustainable systems that will underlie the future of the renewable energy and circular chemical economies.

Malta is a provider of industrial-grade, grid-scale energy storage solutions. The Malta system collects and stores inexpensive and abundant renewable and fossil energy, and dispatches it as needed to the grid to enable the affordable and reliable delivery of electricity on demand. Incubated at X, the Moonshot Factory (formerly Google [x]), and funded by leading venture capital and commercial power industry companies

Oxford Quantum Circuits developing technology using the power of quantum to do things that have never been achieved before, from enabling life-changing drug discoveries to developing new battery technologies. OQC's quantum computer is a fully functional unit that includes the control system, hardware, and software. Customers can use OQC's quantum computers to streamline their businesses, pioneer new approaches, and help solve some of humanity's most pressing issues, such as slowing climate change and feeding a rapidly growing population.

Xage is a global leader in zero trust access and protection on a mission to pioneer a secure tomorrow. Control access and prevent attacks in the cloud, in the data center, at the remote operational edge anywhere on Earth, and even in orbit with the Xage Fabric Platform. Xage is easy to manage and can be deployed in a day, giving users easy and secure access to the assets they need from anywhere, while preventing advanced adversaries and insider threats at every stage of the attack chain. Learn why organizations like the U.S. Space Force, PETRONAS, and Kinder Morgan choose Xage at xage.com.

Infinitum is setting the bar for the next generation of motors to be better for the planet – and for people. Not satisfied with being the most efficient, our goal was to design a motor that opens up sustainable design possibilities for end users by being smaller, lighter, and quieter than conventional motors. A motor that delivers more than exceptional energy savings; a motor that makes a big impact on the world with a smaller carbon footprint across its lifecycle.

Immaterial is a manufacture super-adsorbent nanomaterials which can dramatically reduce the cost of separating, storing, and transporting gas.

APERIO is the leader in industrial data integrity solutions. We help customers drive profitability and sustainability goals while mitigating risk in their industrial operations. While the digital maturity and complexity of an industry varies, every sector, from engineering to operations, requires reliable data that can be trusted. APERIO DataWise automatically validates operational data at scale to improve data accuracy, security, and value, allowing for better, smarter business decisions based on real-time, superior data.

Sapphire Technologies develops, manufactures, and sells energy recovery systems for both natural gas and hydrogen industrial and commercial applications. The company's systems are designed to convert waste energy from pressure reduction processes into electric power without disrupting operations. We help companies maximize plant efficiencies, improve productivity, reduce carbon emissions, offset electrical costs, and generate cashflow by recovering this wasted pressure energy.

Compact Membrane Systems specializes in providing scalable membrane solutions for the decarbonization revolution. It develops technology to capture and reduce greenhouse gas emissions, avert global warming, and transform the industry into a long-term sustainable enterprise.

Electric Era Technologies develops AI-controlled battery storage for the cost-effective operation of charging stations. Its family of solutions is powered by PowerNode-OS, a real-time software platform that brings optimized and reliable charging to every PowerNode charging station.

NobleAI’s commercially proven Science-Based AI technology enables companies to reduce the cost and accelerate the development of better performing, more environmentally sustainable and reliably sourced chemical & material products.

Flyability is a Swiss company building safe drones for inaccessible places. By allowing drones to be used safely inside cities, buildings, and in contact with people, it enables new interactions and services with UAVs and solves the two most critical issues of one of the fastest growing industries: collision and injury risks. The company’s main market is in industrial inspection where it avoids sending people in dangerous and confined spaces for the inspection of Power Generation, Oil & Gas or Maritime infrastructures. It is also active in Search & Rescue and Security to assess emergency situations without putting humans at risk. Flyability is the winner of the 1M USD Drones for Good Award and over 11 other technology and business prizes. Read more on www.flyability.com.

Worlds is an information technology company that offers an AI platform for real-world automation. It features a new 4D infrastructure for measuring, analyzing, and building AI-based automation directly into the ground floor operations of supply chain companies.  It was founded in 2018 and is headquartered in Dallas, Texas.

Syzygy Plasmonics is a developer of a photocatalytic reactor designed for fuel cell vehicles and small-scale industrial applications.The company's reactor is powered by light and operates at over 1,000°F lower temperature than conventional chemical reactor technology that helps in reducing maintenance costs and is able to start or stop production near instantaneously, enabling fuel cell vehicle companies to produce ultra-low-cost hydrogen gas on-site at customer locations.

Starfire Energy develops and deploys sustainable energy technologies. It has developed a way to make clean liquid fuel from wind and solar power.  The fuel is NH3 which is currently used as fertilizer and as a refrigerant but is also an energy-dense liquid fuel. Liquid fuel synthesis from clean energy is the next critical technology for sustainable energy. The company was founded in 2007 and is headquartered in Aurora, Colorado.

Baseload Capital is a Specialized Investment Entity investing in Heat Power. They work globally with the aim to give Heat Power Operators the financial tools to build and operate renewable heat power plants.

enmacc is Europe’s fastest growing digital, OTC energy trading platform. Our platform digitalises the end-to-end professional energy trading process. Using enmacc allows participants to gain speed, efficiency and security when trading in energy markets.  More than 410 companies, with over 1.800 active traders, are already taking advantage of enmacc and are utilising our continuously growing network of energy suppliers, industrial companies, energy trading houses and municipal utilities for trading in power & gas.  All of our clients can benefit from increased market access, additional liquidity and other business development opportunities. enmacc customers can use three different trading screens: entender, enmarket and engreen. entender is the largest, independent RFQ platform for standard and non-standard energy products in Europe. enmarket is an independent price screen and open marketplace for bilateral ‘one-click’ trading of standard power & gas products.  engreen is our state-of-the-art trading screen for Guarantees of Origin (GoOs) and allows for process safety and easy access of real- time prices in a complex and partially non-transparent market. We do everything we can to make the daily work of energy traders and portfolio managers easier by enabling them to focus on the things that really matter.

Aurora Hydrogen is developing the next generation of hydrogen production technology.

Clarke Valve is a developer of energy-saving shutter valves designed to work in a variety of industrial and aerospace applications. The company's technology can be easily scaled or customized to meet many challenging requirements and is currently deployed in a diverse spectrum of markets, including oil and gas, aerospace, chemical, power plants, and water management. Its valves offer a combination of zero pressure drop, zero flow restriction, full pluggability, precise flow control, negligible turbulence, low cavitation, low water hammer, low noise, ultra-thin footprint, low power consumption, plug and play adaptability and long-term reliability, that enable power plants, oil and gas facilities, and chemical plants to efficiently use these valves in various challenging applications. Clarke Valve was established in 2011 and is headquartered in North Kingstown, Rhode Island.

TAE Technologies is leveraging proprietary science and engineering to tackle the world’s biggest challenges. Their core mission is to create a new source of clean energy – one that’s powered by nature’s own processes and produces no harmful byproducts. Their groundbreaking work has led to industry-wide advances in accelerator and plasma physics, and acted as a catalyst for adjacent innovations based on their results. With 20 years of focused research, TAE Technologies is on a purposeful path to commercial fusion energy and pioneering sustainable solutions for a better tomorrow.

QuintessenceLabs has developed a suite of data security technology, products, and solutions to secure valuable digital information in-transit, at-rest or in-use. By centralizing the management and control of data-security policy and harnessing quantum science properties to strengthen data security solutions, its solutions maximize security, increase ROI from existing assets, and reduce data-security complexities. Customers include financial services companies such as Westpac Group, a leading Australian bank, Technology providers, such as NetDocuments, a cloud storage provider for the legal industry, and PKWare, federal customers such as the US State Department, and defence primes such as Boeing Corporation and Northrop Grumman.

Epicore Biosystems, Inc. has developed a proprietary wearable microfluidic platform that is ‘skin-like’ and capable of analyzing small droplets of sweat for proteomics, inflammatory markers, hydration, and health biomarkers  to enable personalized management of health, performance and nutrition. Epicore's wearable sensing technology is based on over two decades of microfluidics and soft materials research by Prof. John Rogers and Dr. Roozbeh Ghaffari at Northwestern University's Querrey-Simpson Institute for Biolectronics.

Mobilus Labs is a tech startup with the mission to provide frictionless voice communications for teams of any size at any range.

Make My Day offers an in-car driving assistance app for optimizing driving in electric cars. Its features for an in car Driving Assistance connects the driver with the car while doing extra activities. It also connects drivers to business providers and gives them a full range solution for the daily needs. Make My Day is based in Tel-Aviv, Israel.

Gr3n invented a new process which allows for the first time to recycle PET bottles/food containers chemically in a profitable way. Gr3n developed an innovative process, based on a new application of microwave technology to a well known chemical reaction which provides for the first time with an economically efficient chemical recycling process of PET (Polyethylene Terephtalate) and allows an industrial implementation of this recycling method. This new process can potentially change how PET is recycled worldwide with a huge financial benefit for the recycling industry.

Founded in 2013, Hydrogenious Technoloiges is a spin-off of the University of Erlangen-Nuremberg by its CEO Dr. Daniel Teichmann and the three co-founders Prof. Wolfgang Arlt, Prof. Peter Wasserscheid and Prof. Eberhardt Schlücker. The need for safe and efficient hydrogen storage for multi-MWh energy storage systems and safe and reliable hydrogen storage for hydrogen refuelling stations and fuel cell mobility was imminent – and Liquid Organic Hydrogen Carriers (LOHC) proved to be the solution. Having completed the technological proof of concept at the university’s laboratories, the idea became reality and Hydrogenious Technologies, a global pioneer in LOHC based energy storage, was born. With the University of Erlangen-Nuremberg becoming a shareholder in May 2014 and the successful close of a Series A funding round in July 2014 with Anglo American Platinum as investor, Hydrogenious Technologies is now backed with strong scientific, strategic and financial capacities to revolutionize large-scale energy and hydrogen storage.

Natel Energy is a supplier of sustainable hydropower solutions that produce reliable renewable energy. The company launches a new hydropower product enabling the cost-effective production of low-impact and distributed baseload energy from existing low-dams, irrigation canals, and other low-head hydropower resources. Hydropower is a crucial component of a low-carbon, renewable grid because of its reliability, flexibility, and complementary generation characteristics to the wind and solar. Hydropower projects are also integrally dependent upon and have a substantial impact on watershed function.

Boomitra is a leading carbon marketplace working with farmers and landowners worldwide to mitigate climate change through improved agricultural practices. The US-based start-up uses proprietary AI and satellite technology to monitor, report, and verify (MRV) soil organic carbon to a 30cm+ depth, without physical soil sampling, reducing measurement costs by 99%. The process is cost-efficient, time effective, and scalable across various landholding sizes – enabling Boomitra to work globally: 5M+ acres, 150,000+ farmers, 4 continents, millions of credits sold to date. Farmers and landowners earn the vast majority of proceeds from each carbon credit sold, allowing them to re-invest in their farms and local communities.

Mainspring Energy is engineering advanced technology by developing a prototype of a linear generator that converts fuel to electricity. Mainspring was founded in 2010 by three Stanford engineers- Shannon Miller, Adam Simpson, and Matt Svrcek.  Today Mainspring brings together a diverse, talented team of individuals who share the vision to address the growing threat of climate change and the need for affordable electricity for all.

Seeq is founded on the premise that companies need better solutions for quickly and easily deriving business insight from their industrial process data. It aims to provide software and services that convert industrial process data into information, enable discovery, increase collaboration, and ultimately drive better business decisions that lead to seamless execution, increased earnings, and continuous improvement. Seeq is an official partner of OSIsoft and recently sponsored its European and US user conferences, as well as US regional seminars. Seeq is also a sponsor of recent Emerson Exchange user conferences. Founded in 2012, the company is headquartered in Seattle, Washington, United States.

Ocergy is focusing on the development of complex ocean systems solving energy and environmental challenges. OCG-Wind is a low-cost foundation supporting the new generation of very large offshore wind turbines. The innovative hull allows the platform to have a very light weight, a necessity to reduce LCOE. It is tailored towards ease of industrialization, to bring flexibility in fabrication and increase the use of a local supply chain in the project fabrication life cycle.OCG-Data is an innovative multi-disciplinary ocean observer for complete offshore site assessment. It has enough footprint to host and power multiple instrumentation packages for resource and environmental characterization. Underwater biodiversity monitoring relies on the combination of restoration technologies and passive acoustic monitoring arrays. The buoy also hosts a bird and bat detection and identification system. OCG-Data provides high-quality data including ecological information for stakeholders' engagement.

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.

Svante is a leading carbon capture and removal solutions provider specializing in the development and manufacturing of novel solid sorbents, structured adsorbent filters, and rotary contactor machines for post-combustion industrial carbon capture and direct air capture.  The company’s leading-edge solid sorbent-based technology is environmentally responsible, and scalable, and can be applied to heavy industries with hard-to-avoid emissions, including cement, hydrogen, oil & gas, steel, and more.  Svante has developed partnerships across the global CCUS value chain to scale the industry and make it easy for customers to execute source-to-sink carbon capture and removal projects.

Mission Secure®, an OT cybersecurity leader, is setting a new standard in OT cyber-protection stopping OT cyber threats head-on. The Mission Secure Platform backed by 24/7 Managed Services is the first to seamlessly integrate OT visibility, segmentation, protection, threat hunting, and incident response, delivering military strength, industrial grade OT protection. With Mission Secure, customers keep critical operations up and running and safe from harm. Learn more at https://www.missionsecure.com.

Blue Planet’s technology uses CO2 as a raw material for making carbonate rocks. The carbonate rocks produced are used in place of natural limestone rock mined from quarries, which is the principal component of concrete. CO2 from flue gas is converted to carbonate (or CO3=) by contacting CO2 containing gas with water-based capture solutions. This differentiates Blue Planet from most CO2 capture methods because the captured CO2 does not require a purification step, which is an energy and capital intensive process. As a result, Blue Planet’s capture method is extremely efficient and results in a lower cost than traditional methods of CO2 capture.

Nubix is an edge native application platform that makes it easy to build, deploy and manage IoT and edge applications. Nubix runs on the tiniest compute devices (MCUs), enabling developers to easily process data on the sensor device where the data is created.  The company was founded in 2017 and headquartered in Colorado, United States.

ChargePoint brings electric vehicle (EV) charging to more people and places than ever before as the world’s leading EV charging network. These stations are available as public charging stations, consumer subscription plans, and utility grid management technology for electric utility companies to smooth electric demands on the grid. The ChargePoint app connects users to a vast network of EV charging stations, allowing them to find, start, and track charging sessions, thereby enhancing the user experience.

Natron Energy is an energy storage company that develops sodium ion battery solutions leveraging Prussian Blue electrode materials. Natron’s battery products are based on a unique Prussian Blue chemistry and can integrate into a wide variety of energy storage applications, ranging from critical backup power systems to EV fast charging and behind-the-meter applications.

Carbon Clean Solutions is an innovation company specializing in carbon dioxide (CO2) recovery technology for industrial purposes. CCS APBS breakthrough technology significantly reduces the operating costs and environmental impacts, thereby, making CCS technology cost-effective. Carbon Clean Solutions provides proprietary technology to power plants and industrial utilities for removing up to 90% carbon dioxide from the flue gases. Patented carbon capture technology developed by Carbon Clean Solutions, involves capturing carbon dioxide using proprietary regenerable advanced solvent combined with improved energy integration CO2 capture process. Low cost, energy-efficient APBS CO2 capture technology can be embedded in new power plants or retrofitted to existing ones. Carbon Clean Solutions operates multiple research teams and facilities across the globe and is commercializing its innovative energy=efficient CO2 capture with global customers.

Veros Systems enables industrial customers to maximize production by providing actionable intelligence on their electrically-driven machines. Their web-based Predictive Intelligence Platform uses completely nonintrusive monitors that can be installed in hours. PIP offers real-time predictive reliability and energy efficiency intelligence on electromechanical systems, and seamlessly integrates with leading Enterprise Asset Management applications. At last, engineers, managers, and executives have a means to see the future: to plan better, reduce costs, and improve a facility’s overall availability.

ThoughtTrace™ exists to empower people and companies to greater insight and creativity through better access to their most challenging information. We help enterprises review and validate critical information in existing contracts and legal documents.  Using artificial intelligence (AI), natural language processing, and machine learning, our SaaS platform, ALI™ reads words, sentences, and paragraphs just like a human does, driving better strategy, decisions, and execution. With results in minutes or hours, not weeks or months, advanced analysis and understanding is your edge.

Vutility is the leading provider of real-time, high-resolution, energy monitoring solutions - enabling businesses to optimize their energy consumption and improve operational efficiencies. Using its innovative and affordable proprietary HotDrop™ technology, companies across a range of retail and commercial industries gain relevant and timely insights into their energy usage.

Modumetal develops and licenses a proprietary technology to produce industrial scale nanolaminated alloys with unprecedented performance characteristics. The company offers nanolaminate coatings that are stronger and lighter than steel, more corrosion-resistant, and more durable than other metals using electricity, rather than heat, to reduce the environmental impact of their manufacture.  Modumetal enables infrastructure, automotive, aerospace, energy, and construction industries to achieve superior performance at a cost that is competitive with conventional solutions.

Orbital Insight is a geospatial analytics company, used by data-driven organizations that need to understand the changing physical world. Our SaaS technology unlocks global insights, anywhere and anytime, revealing hidden infrastructure, supply chain, socio-economic and geopolitical trends. That’s because our cloud solutions use AI, computer vision and data science to ingest, analyze and transform billions of geospatial data points (including satellite, cell phone “pings”, AIS, SAR, aerial, connected devices, etc) into actionable intelligence used to make superior business and policy decisions. Orbital Insight was established in 2013 and is based in Palo Alto, California.

Currently, inline inspection in the oil and gas sector is a series of staged engineering events, designed to assess the condition of pipeline assets. It is costly, infrequent, and only addresses those lines that are within reach. In fact, it is estimated that 40% of the world’s pipelines are unpiggable. The vulnerabilities between inspections, which are typically years apart, or the inability to conduct inspections at all, puts the world’s aging pipeline infrastructure at risk. In order to address these issues, we have focused on changing the economics, the technology, and the workflow associated with inline inspection. We have introduced the industry’s first self-serve inspection model that eliminates significant engineering and downtime costs. We have developed miniature, multi sensor Pipers® technology that freely flows within any and all active pipelines, regardless of location, condition, material or configuration. This technology is capable of inspecting pipelines as small as 2 inches in diameter, and surveying for leaks, geometric defects, magnetic anomalies, and deposits in a single run. Further, we have reduced the cost of inline inspection by a factor of 10, making it possible for integrity programs to be more present, more often, across all of their assets. Finally, such accessible technology has given us the opportunity to work with a complete range of clients – large and small, private and public – resulting in rich datasets libraries that offer unprecedented contextual analysis and continuous advancement of our data analytics capabilities. Our approach provides clients with uninterrupted access to up-to-date condition-critical data, allowing them to optimize planning, decision-making, and actions.

Spear Power Systems designs and manufactures safe, reliable lithium-ion battery storage systems for demanding applications including defense, marine propulsion, oil & gas, and mining. The company has a wide range of energy storage systems suited to meet any demand. Their family of TRIDENT maritime batteries offers multiple cell chemistries in order to provide you with industry-leading energy density or ultra-high power density depending on the requirements of your application.

Voyage is delivering on the promise of self-driving cars. Voyage has built the technology and services to bring autonomous transportation to those who need it most, beginning in retirement communities. Whether residents face mobility restrictions or just want to take a ride, Voyage takes pride in getting all our passengers to their destination safely, efficiently, and affordably. Our journey begins in calmer communities, but we won’t stop until anyone, anywhere can summon a Voyage.

Carbon Engineering is a clean energy company that commercializes the Direct Air Capture technology to capture CO2 directly from the atmosphere and convert it into clean, affordable transportation fuels. Carbon Engineering focuses on the global deployment of Direct Air Capture technology so it can have the greatest impact on the huge climate challenge.

Maana is the pioneer in knowledge-centric technology.  The Maana Knowledge Platform accelerates knowledge discovery to increase profitability. Maana’s patented Knowledge Graph— a breakthrough invention — at the core of the platform expedites extracting knowledge from data silos, to reveal the relationships within the context of an asset or process companies wish to optimize.  Global companies such as GE, Chevron, and Shell are increasing profitability with Maana by operationalizing insights into line-of-business applications for thousands of employees to make faster data-driven decisions. Investors include Chevron Technology Ventures, ConocoPhillips Technology Ventures, Frost Data Capital, GE Ventures, Intel Capital, Saudi Aramco Energy Ventures, and Shell Technology Ventures.  Maana is privately held with offices in Palo Alto, California, and Bellevue, Washington.

LUX Assure is a division of LUX Innovate Limited. LUX specialises in delivering robust, highly sensitive and simple to use chemical  monitoring technologies for both offshore and onshore use. The novelty of their approach has been recognised by the oil and gas industry and they have won awards for innovation. Their products include technologies for monitoring scale, corrosion and hydrate inhibitors in both water and hydrocarbons.

NSS Labs, Inc. is recognized globally as the most trusted source for independent, fact-based cybersecurity guidance. Our mission is to advance transparency and accountability within the cybersecurity industry. We empower enterprises by providing them with timely, relevant information on which to base their decisions. Our unmatched foundation in security testing, along with our extensive research and global threat analysis capabilities, provide the basis for NSS Labs’ Cloud Platform for Continuous Security Validation. This cloud platform measures the ongoing effectiveness of security controls, providing a real-time score card to help business leaders substantiate their security investments. Businesses can also leverage the threat data delivered by this cloud platform to strengthen their cyber risk posture and mitigate threats to their operating systems and applications. CISOs, Chief Security Architects, SOC and Threat Analysts, and information security professionals from many of the world's largest and most demanding enterprises rely on trusted insights from NSS Labs. For more information, visit www.nsslabs.com.

Founded in Stavanger, Norway in 2006, Ziebel provides specialist well intervention services to the global oil and gas industry.  Ziebel is dedicated to enhancing production effectively and economically through its pioneering well intervention technologies, including the Z-System™. This proprietary fiber optic composite rod technology makes it possible to access and visualize the entire well bore in real-time.

Sample6 is a synthetic-biology based bacteria diagnostic system capable of enrichment-free detection. Its technology detects as low as 1CFU/ml in just 4 hours. Its proprietary Bioillumination Platform was developed by Professor Tim Lu (MIT) and Dr. Michael Koeris in the lab of Professor James Collins at the Howard Hughes Medical Institute and  Boston University. The platform allows for the engineering of bioparticles that target and “light up” specific unwanted bacteria—or specific groups of bacterial species. They couple this capability with highly sensitive sensor technology that detects low levels of pathogens to see results in minutes—right on-site—with no laboratory required. Sample6′s mission is to improve the health and safety of global consumers by building integrated systems that quickly and easily detect harmful and unwanted bacteria. They see applications in food production, retailing, healthcare, and beyond—anywhere humans and bacteria intersect.

Chevron Technology Ventures champions innovation, commercialization and integration of emerging technologies within Chevron.  Chevron Technology Ventures (CTV) helps Chevron embrace emerging technologies to create new commercial opportunities, reduce costs and improve performance.  CTV serves as one of the company's most important technology ''scouts,'' always searching for emerging technologies that could enhance Chevron's strategies. CTV identifies, acquires, tests, validates, and, if appropriate, helps integrate those technologies into the company's core businesses. Alternatively, technologies may be studied then ''shelved'' for future consideration.

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