Breakthrough Energy Ventures
Canvas Category Consultancy : Company : Venture Capital
Breakthrough Energy’s aim is to inspire the world to develop and scale the critical solutions we need to reach net-zero emissions—so everyone can enjoy affordable, abundant clean energy.
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GALY Raises $33 Million in Oversubscribed Series B Financing to Advance its Cellular Agriculture Platform
GALY CO., a climate tech company pioneering the development of first-of-its-kind sustainable cellular agriculture products, announced the closing of an oversubscribed $33 million Series B financing led by Breakthrough Energy Ventures (BEV) with additional participation from new investors H&M Group and Inditex. In addition to BEV, H&M Group, and Inditex, the oversubscribed investment round was joined by repeat investors including Material Impact, John Doerr’s family office (Eighty Eighty Group), Artesian, BRINC and Reaction Global. Additionally, there was participation from Indorama Ventures, Endeavor Scale-up Ventures, and Unreasonable, among others.
The funds will primarily fuel the expansion of GALY’s research and development on its innovative cellular agriculture platform and its flagship product, “GALY Cotton,” which uses 99% less water and 97% less land than traditional cotton while emitting 77% less CO2, as it advances towards pre-industrial quality and scale.
Molten Industries Raises $25M Series A to Produce Clean Graphite and Hydrogen and Onshore Battery Supply Chains
Molten Industries, a fast-growing American start-up that converts natural gas into clean graphite and hydrogen, has announced the successful close of a 25 million dollar Series A financing round. The raise was led by Breakthrough Energy Ventures (BEV), with new participation from Sozo Ventures, Mark Heising, and Steelhead Capital. Existing investors also participated in the round, including Union Square Ventures, 50 Years, J4 Ventures, Moai Capital, UVC Partners, Jane Woodward, and Peter Attia. Molten will use this funding to build its first modular commercial reactor in Oakland and become a leading producer of graphite for lithium-ion batteries and clean hydrogen to decarbonize the chemical and steel industries.
Lilac Solutions Announces $145 Million Series C to Scale Lithium Supply for the Electric Vehicle Era
Lilac Solutions, a leader in lithium extraction technology, announced the close of its Series C with $145 million of proceeds. This bring Lilac’s total capital raised to $315 million. The financing was led by Mercuria, Lowercarbon Capital, and Breakthrough Energy Ventures, with participation from all major shareholders including T. Rowe Price Association, Inc., Engine Ventures, Aventurine, Presidio Ventures (a Sumitomo Corporation Group Company), and BMW i Ventures amongst others, and Lilac welcomes Mitsubishi Corporation and The Nature Conservancy as new investors. The new capital will be used to support Lilac’s ambitious growth plans as the Company ramps up manufacturing capacity of its propriety ion-exchange (IX) material and commercial deployment at projects around the world.
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Stellarator Fusion Company, Type One Energy Group, Raises $29 Million in First Financing, Appointing Christofer Mowry as CEO
Type One Energy announced the close of an over-subscribed $29 million financing round. This effort launches the company’s ambitious, partner-rich and capital-efficient FusionDirect program to commercialize its stellarator fusion technology. Breakthrough Energy Ventures (BEV), TDK Ventures and Doral Energy Tech Ventures co-led the round with additional cleantech investment from Darco, the Grantham Foundation, MILFAM, Orbia Ventures, Shorewind Capital, TRIREC, VAHOCA and others.
Type One Energy’s technical foundations provide a powerful springboard to achieve its mission. Founded by several of the world’s leading stellarator experts, Type One Energy also brings concentrated experience from renowned fusion science institutions, including the University of Wisconsin-Madison in the U.S., the Max Planck Institute for Plasma Physics in Germany and the Massachusetts Institute of Technology (MIT) for its work on advanced magnet technology. The stellarator is a fusion technology characterized by inherently stable and steady-state operations. Related to tokamaks, stellarators do not, however, require massive circulating electric currents to assist in creating the magnetic fields used to confine their fusion plasma. This makes stellarator technology less physically complex and easier to translate into a practical fusion power plant.
Electra raises $85M to electrify and decarbonize iron and steelmaking with no green premium
Electra, a green iron company, has raised $85 million to produce Low-Temperature Iron (LTI) from commercial and low-grade ores using zero-carbon intermittent electricity. Electra’s process emits zero carbon dioxide emissions and carries zero green premium, meaning it will cost the same or less than existing production methods powered by fossil fuels.
Electra, founded by entrepreneurs with decades of experience developing complex electrochemical systems, has created a novel process to electrochemically refine iron ore into pure iron at 60 degrees Celsius (140 degrees Fahrenheit) using renewable electricity and then convert the iron to steel using the existing infrastructure of electricity-powered arc furnaces. By comparison, 69% of steel today is made at approximately 1,600 degrees Celsius (2,912 degrees Fahrenheit) using coal, emitting about two tons of carbon dioxide for every ton of steel produced.
☀️ Terabase Energy Raises $44 Million Series B to Digitalize and Automate the Deployment of Utility-Scale Solar Power Plants
Terabase Energy today announced a $44 million Series B financing co-led by Breakthrough Energy Ventures and Prelude Ventures with additional participation by SJF Ventures and other existing investors. The round brings Terabase’s total funding to $52 million and will be used to support the company’s mission to reduce the cost and increase the scalability of solar by building a digital and robotic automation platform for the development, construction, and operation of utility-scale PV power plants.
LuxWall Receives Funding Led by Breakthrough Energy Ventures and Prelude Ventures
LuxWall, Inc., a provider of vacuum insulated glass (VIG) solutions designed to significantly reduce carbon emissions in the built environment, today announced completion of a company financing. Breakthrough Energy Ventures (BEV) and Prelude Ventures led the round with participation from Baruch Future Ventures.