NextEra Energy
Assembly Line
APERIO Closes $9M Series A1 Round to Fund Growth
APERIO, a category leader in operational data quality, announced it has closed $9M in Series A1 funding. The round was led by Momenta, the Industrial Impact venture capital + growth firm, and joined by investors including Chevron Technology Ventures, NextEra Energy, National Grid Partners, Delek US, and Bazan Group. The funding will be used to further grow the team, invest in the product, and improve the customer experience.
APERIO’s solution is designed to solve a wide range of operational data quality issues and has drawn a range of investors. “Improving the scale and quality of data is critical to the reliability of unattended facilities. APERIO’s technology has the potential to help solve the data quality problem at scale,” said Jim Gable, Vice President, Innovation and President of Technology Ventures at Chevron. “This is the latest investment from our Core Fund VII, which focuses on high-growth startups and breakthrough technologies that have the potential to improve Chevron’s core oil and gas business performance as well as create new opportunities for growth. We welcome APERIO to the portfolio.”
This new funding follows the release of APERIO DataWise 2.0 earlier this year, which added advanced tools like comprehensive root cause analysis and event pattern recognition, and was designed to improve the user experience through intuitive workflows and issue prioritization. More to come as this funding will add additional features, aimed at helping APERIO scale to meet customer demand.
Samsung SDI to ink $726 mn ESS deal with NextEra Energy
Samsung SDI Co., the world’s sixth-largest electric vehicle cell maker, is set to provide batteries for energy storage systems (ESS) to NextEra Energy Inc., a major US clean energy company, in a 1 trillion won ($726 million) deal.
The South Korean battery maker is expected to secure recovery momentum in the ESS market amid sustained weakness in the EV sector on sluggish demand while aiming to bite into the market share of major Chinese players hurt by the US government’s policies to rein in their expansion. Samsung SDI is in final talks with NextEra Energy to supply 6.3 gigawatt hours (GWh) of ESS batteries, about 11.5% of the total ESG capacity of 55 GWh in North America last year.
EVOLOH Secures $20M to Transform Electrolyzer Manufacturing and Make Low-Carbon Hydrogen Globally Accessible
EVOLOH, Inc., a cleantech company that manufactures electrolyzer stacks for hydrogen production, announced it has raised an oversubscribed $20 million Series A round led by Engine Ventures. Additional participating investors include a subsidiary of NextEra Energy Resources and 3M Ventures. The capital will be used to expand the company’s scalable, high-throughput manufacturing technology and introduce additional capabilities for its NautilusTM platform of advanced liquid alkaline electrolyzers.
EVOLOH is making low-carbon hydrogen globally accessible by revolutionizing the manufacturing of electrolyzers. While incumbent electrolyzers are notoriously expensive and difficult to produce, transport and install, and rely on politically and environmentally challenging supply chains, EVOLOH’s manufacturing facility will offer an 80% reduction in capital investment and footprint.
Electrolyzer stacks, the core component of electrolyzers, are offered via EVOLOH’s NautilusTM platform and made from abundant materials like steel, plastic and aluminum and do not require precious metals or rare earth materials. To reduce the CAPEX and OPEX of hydrogen plants using EVOLOH’s Advanced Liquid Alkaline technology, the NautilusTM stacks use low-cost power electronics and do not require corrosive electrolytes. EVOLOH’s NautilusTM stacks are very compact, and can be built into modules of 24 megawatts, making them ideal for large industrial applications.