Larger venture funding rounds
☀️ Enpal, based out of Berlin, is raising $230M to rent solar power systems to homeowners. TPG is poised to lead the round. More here. (Germany, Energy)
💱 Xpansiv, based out of San Francisco, raised $125M in equity funding from Bank of America and Goldman Sachs for its digital carbon and commodity trading platform. Read more here. Xpansive also acquired Evolution Markets, an energy transition consultancy based out of White Plains, NY. More on that here. (U.S., Carbon Markets)
Medium-sized venture funding rounds
🛰️ Capella Space, based out of San Francisco, raised $60M in growth equity from the U.S. Innovative Technology Fund to expand its Earth observation data and satellite imagery business. Read more here. (U.S., Climate Data)
🥩 No Meat Factory, based out of Coldstream, Canada, raised $42M in Series B funding to make alt proteins. Tenglemann Ventures led. More here. (Canada, Food & Agriculture)
🏗️ Cabal Systems, based out of Burlingame, CA, raised $51M in Series B funding to deploy renewable energy, energy storage, and monitoring solutions alongside critical infrastructure. Read more here. (U.S., Energy)
💦 Hystar, based out of Oslo, Norway, raised $26M in Series B funding to manufacture polymer electrolyte membrane electrolyzers (to produce green hydrogen). AP Ventures and Mitsubishi Corporation co-led. Read more here. (Norway, Industry)
⚡ Copenhagen Atomics, based out of Copenhagen, Denmark, raised $21.6M in funding to make thorium-based molten salt nuclear reactors. Read more here. (Denmark, Energy)
⬇️ CHOOOSE, based out of Norway, raised $15M in funding for its software platform that helps companies integrate climate action (such as carbon removal or using more sustainable aviation fuel) into customer experiences. GenZero and SOUND Ventures co-led. More here. (Norway, Carbon Markets)
🌊 Captura, based out of Pasadena, CA, raised $12M in Series A funding to scale its patented electrodialysis process that uses renewable electricity to remove CO2 from the ocean. Equinor Ventures led. Read more here. (U.S., Carbon Markets)
Smaller venture rounds
🐟 ReelData AI, based out of Halifax, Canada, raised $8M in Series A funding for its software-based operating system to help land-based salmon farms make their processes more efficient. Buoyant Ventures led. More here. (Canada, Industry)
🧪 Visolis, based out of Hayward, CA, raised $8M in seed funding for its synthetic biology technology that also leverages traditional chemical catalysis to make carbon-negative chemicals. BlueYard Capital led. More here. (U.S., Industry)
🌱 enrichAg, a subsidiary of Terramera, based out of Vancouver, Canada, raised $6M in Series A funding for its soil carbon software platform that helps farmers analyze soil contents, increase carbon, and promote crop growth. EnrichAg plans to raise up to $15M. At One Ventures has led the funding so far. More here. (Canada, Food & Agriculture)
♨️ EQUIUM, based out of France, announced it raised $5.4M in seed funding to make . ‘acoustic’ heat pumps that generate acoustic waves to compress or expand gas to heat or cool. More here. (France, Built Environment)
🏢 measurable.energy, based out of Reading, U.K., raised $5.5M in Series A funding for its smart, energy-efficient power sockets. RO Capital Partners led. More here. (U.K., Built Environment)
🌲 Open Forest Protocol, based out of Zug, Switzerland, raised $4.1M in pre-seed funding on-chain forestry measurement, reporting, and verification platform. Shima Capital, Übermorgen Ventures, Not Boring Capital, and others participated. More here. (Switzerland, Carbon Markets)
📊 Wattch, based out of Atlanta, raised $3.5M in venture funding for its observability, intelligence, and control platform for distributed energy resources (as per its SEC Form D). (U.S., Energy)
🥩 Project Eaden, based out of Berlin, raised an additional $2.3M in seed funding to make plant-based meats via a fiber-spinning technology. Creandum led the original round and this additional funding alongside Magnetic and FoodLabs. More here. (Germany, Food & Agriculture)
⚡ Hydrogenera, based out of Bulgaria, raised $2.17M in funding to research and develop new technologies for hydrogen production. Karoll led. More here. (Bulgaria, Industry)
⛵ Mirapakon, based out of Quebec City, Canada, raised $1.6M to commercialize its more sustainable and green boat hull coating. More here. (Canada, Industry)
⬇️ Tribaldata, based out of Madrid, raised ~$1M in seed funding to help digital advertisers reach their net zero goals. Garbi Capital and Chamberi Ventures participated. More here. (Spain, Industry)
🌱 Catalyst Fund invested $1M and will allocate $1M in equivalent venture support to 10 different African firms focused on climate adaptation. More here. (Africa, Adaptation)
Private equity and other funding rounds
🌬️ Polytech, based out of Bramming, Denmark, raised ~$146M in funding from FSN Capital for its wind turbine blade monitoring and optimization technologies. Read more here. (Denmark, Industry)
🛒 In acquisitions, Bain Capital (Boston) is circling EcoCeres, a Hong Kong-based biomass utilization company that takes lower-value organic waste or feedstocks and converts them to other products. Bain will likely acquire a minority stake in the firm. More here. (U.S., Energy)
🛒 Again in acquisitions, Tianqi, a Chinese lithium giant, is targeting a $94 million acquisition of Sydney, Australia-based lithium explorer Essential Metals. Read more here. (Australia, Industry)
📊 Enhensa, based out of Brussels, Belgium, raised an undisclosed amount of money from Bregal Sagemount for its sustainability and environmental analytics and compliance firm. More here. (Belgium, Climate Data)
Grants
🔋 ARPA-E’s EVs4ALL program awarded $42M in grants to various EV battery firms and initiatives in the U.S. – a few are listed below (and a full rundown can be found here):
- Zeta Energy, based out of Houston, received $4M for its cobalt and nickel-free EV batteries. More here.
- 24 Technologies
received ~$3.2M to develop sodium metal batteries. More here.
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South 8 Technologies, based out of San Diego, received $3.15M to make its novel liquefied gas electrolytes (used in next-generation lithium-ion batteries). More here.
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Tyfast Energy, also based out of San Diego, received $2.82M for its fast-charging batteries optimized for extended lifecycles. More here.
💸 The African Development Bank, Abidjan, Ivory Coast, approved $19.2 million for Madagascar to enhance its climate resilience and deal with climate-related disasters. This funding will primarily come from the Bank’s Transition Support Facility, an existing mechanism to support fragile nations. Read more here. (Madagascar, Adaptation)
⚡ NextGen Highways raised $500k in grant funding from Breakthrough Energy to make local and national coalitions that advocate for building new transmission infrastructure, which is notoriously hard to build in the U.S. Read more here. (U.S., Energy)
New funds
💰 Ares Management, based out of Los Angeles, raised $5B for an infrastructure debt fund. More here. (U.S., Funds)
💰 Khosla Ventures, based out of Menlo Park, CA, and often invests in climate techs, raised $3B for a new fund. Read more here. (U.S., Funds)
💰 Goldman Sachs, based out of New York, raised $1.6B in funding for its first private equity vehicle to focus on climate. More here. (U.S., Funds)
💰 IMPAQTO Capital, based out of Quito, Ecuador, raised $2M to invest in impact-oriented and early-stage companies in Ecuador, Peru, Bolivia, Colombia, and Chile. Read more here. (Ecuador, Funds)
💰 USCF, based out of Walnut Creek, CA, launched a ‘Sustainable Battery Metals Strategy’ fund with an undisclosed amount of funding. USCF manages more than $4B in total. More here. (U.S., Funds)
