Electrified Thermal Solutions
Assembly Line
Electrified Thermal Secures $19 Million in Venture Financing from Leading Global Industrials and Venture Capital Firms to Electrify Industry
Boston-based Electrified Thermal Solutions, a leader in electrified heating and thermal energy storage solutions, has raised $19 million to accelerate the commercial demonstration and growth of its MIT-developed Joule Hive Thermal Battery (JHTB) system. The round is backed by world-leading industrials in the mining, metals, building materials and energy sectors, including Holcim MAQER Ventures, Vale Ventures, TechEnergy Ventures, EDP Ventures and Tupras Ventures alongside financial investor GVP Climate and follow-on investors, Clean Energy Ventures and Starlight Ventures, with participation from Mass Ventures and Clean Energy Venture Group.
Industrial heat processes, a critical yet overlooked source of global emissions, continue to challenge decarbonization efforts. Accounting for 20% of greenhouse gas emissions – 85% of which are derived from fossil fuel combustion – these energy-intensive sectors lack cost-effective options for decarbonization today. Electrified Thermal’s innovative solution leverages renewable electricity sources to generate zero-carbon heat at unprecedented temperatures. Its patented brick technology is the first thermal energy storage system to reliably deliver ultra-high temperatures reaching up to 1,800°C / 3,275°F. This breakthrough enables cost-efficient electrification across industrial sectors and applications, by providing zero-carbon heat generation that matches the flame temperatures industrial processes require.
This funding keeps Electrified Thermal on course to have its first-of-a-kind commercial demonstration operational in 2025, the critical next step in decarbonizing industry. The investment will help Electrified Thermal lay the foundation for scaling manufacturing and support efforts to expand its industrial customer base and secure contracts. Electrified Thermal’s 2025 JHTB demonstration will propel it forward on its mission to deploy 2GWs of thermal power capacity by 2030.