Over $40 million in transactions as HYDROGRID secures their Series-A funding round & other news from cleantech firms
Endow | Weekly Sustainable Investment Round-Up
HYDROGRID Secures $8.5 Million in Series-A Funding for Hydro Power Digitalisation
HYDROGRID, an Austria-based scale-up, has announced the successful closure of an $8.5 million Series-A funding round, marking a significant milestone in its journey towards digitalising hydropower, the world’s largest renewable energy source. The funding round, aimed at supporting the company's international expansion and enhancing its role in the transition to a zero-carbon future, was led by Inven Capital and Karma Ventures, with additional contributions from existing investors CNB Capital and SET Ventures. This investment will accelerate HYDROGRID's growth, allowing it to enter new markets and further its goal of optimising hydropower generation.
Since its inception in 2016, HYDROGRID has demonstrated significant growth, tripling in size for two consecutive years. The company's flagship product, HYDROGRID Insight, combines advanced machine learning algorithms for inflow and power price forecasting with intelligent optimisation for various types of hydro assets. This innovation enables hydropower operators to maximise efficiency and revenues while ensuring environmental and operational safety. https://bit.ly/41vyAXk
CompPair Technologies Secures Funding for Growth in Composite Industry
CompPair Technologies Ltd.(CompPair), a Switzerland-based innovator in the composites industry has successfully closed a funding round to increase its growth and expand its team. This investment, supported by existing shareholders and new investors, highlights CompPair's significant growth phase in the composites sector. Complementary funding from public entities like InnoSuisse and Eurostar establishes CompPair as a global solution provider. Marie Ivorra Grosse, president of CompPair's Board of Directors and ex-CEO of Ruag Space, expresses her excitement about the company's evolution from a spin-off to a key player in sustainable composite products, underscoring the importance of this financing in propelling CompPair into its next stage of growth.
CompPair's technology, HealTechTM, offers a revolutionary approach to composite repair, enabling in-situ repairs in minutes while retaining material properties. In just four years since its founding, CompPair has launched three product lines, addressing various applications from sports to aerospace. This funding will enhance CompPair's commercial activities, foster further growth, and strengthen its team. https://bit.ly/3RusDFe
Fourth Power Raises $19 Million for Innovative Thermal Energy Storage Solution
Fourth Power, a US-based renewable energy company, has secured $19 million in Series A funding to advance its groundbreaking thermal battery technology. The funding, led by venture capital firm DCVC and supported by Breakthrough Energy Ventures and Black Venture Capital Consortium, will enable the construction of a 1 MWh-e thermal battery facility near Boston.
This initiative is a significant step towards enabling a fully renewable grid, with the technology using less expensive materials to offer electricity storage at a cost ten times lower than lithium-ion batteries. Fourth Power's high-temperature liquid metal heat transfer system, a Guinness World Record holder, is central to its high power density, allowing operation at temperatures near half that of the sun's.
Fourth Power's innovative system converts renewable energy into heat, storing it in carbon blocks heated to extreme temperatures. The thermal battery uses this stored heat to power thermophotovoltaic (TPV) cells, converting it back into electricity when needed. This modular and scalable solution addresses the challenge of immediate and long-term energy storage, making renewable energy sources like wind and solar more reliable and cost-effective. https://bit.ly/3vb1dN3
PLAN-B NET ZERO Secures $10.03 Million for Renewable Energy Expansion
PLAN-B NET ZERO, a Switzerland-based green energy startup, has raised approximately $10.03 million in its Series A financing round. This pivotal funding, secured from the anchor investor Yamato Capital AG of Switzerland and supported by the company's community, signifies a major step in PLAN-B NET ZERO's commitment to fostering sustainable energy solutions.
The company aims to be the first greentech enterprise to serve the entire value chain in the renewable energy sector. This encompasses project development, construction, plant operation, and the marketing of the electricity generated. Focused initially on photovoltaic energy, PLAN-B NET ZERO plans to expand into wind energy, biomass and launch its first hydrogen projects soon. This investment will accelerate the company's growth, enabling it to expand its team, develop new partnerships, and strengthen its national and international presence. https://bit.ly/3GNrLXp
Cortexia Secures $2.7 Million for Expansion in Environmental AI Solutions
Cortexia, a Switzerland-based innovator in artificial intelligence solutions for the environmental sector, has successfully completed an oversubscribed financing round, raising approximately $2.7 million. This funding will fuel the company's international growth and the development of new application areas. The round saw participation from existing investors Remondis Digital Services and Capital Risque Fribourg and new investors including Bloomhaus Ventures, Kurrant Ventures, and Spicehaus Partners.
Cortexia's technology platform, already deployed for urban cleanliness management, is recognised for its significant improvements in cleaning and waste management services, reducing resource use and environmental impact. https://bit.ly/3uVW3o7
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