New Fundings Activity July 26 to August 1
VENTURE CAPITAL
Beyond Meat Raises Series D Round, Its Largest Yet – 7/29/14
Meat substitute manufacturer, Beyond Meat, announced it had successfully raised an undisclosed amount in Series D financing from DNS Capital, WTT Investments, S2G Ventures, Kleiner Perkins Caufield & Byers, The Obvious Corp., Bill Gates and Morgan Creek Capital. The company did report that this is the largest round yet. The financing will support continued innovation of its plant-protein based meats, expand consumer awareness and increase capacity at the company’s manufacturing facility.
Credit the U.S. Department of Agriculture
Inventys Closes Round to Fund Deployment of Carbon Capture Technology – 7/30/14
Inventys Thermal Technologies has closed an undisclosed amount of financing from existing investors, Mitsui Global Investment, the Roda Group, and Chrysalix Energy Venture Capital — which invested an undisclosed amount in April — as well as new investor Chevron Technology Ventures. Inventys will use the funds to expand manufacturing and deploy its technology that captures carbon from the fossil fuel production process and reuses it for enhanced oil recovery in late 2016.
Green Charge Networks Secures $56 million for On-Site Energy Storage Technology – 7/29/14
K Road DG, a private equity firm focused on distributed energy founded by former executives from K Road Power, has committed $56 million to Green Charge Networks to fund financing packages for companies to deploy Green Charge Networks’ energy management storage equipment and software. This follows a $10 million project finance investment from TIP Capital in March.
GOVERNMENT
DOE Provides $11.3M to Advance Renewable Carbon Fiber Technology – 7/31/14
The Energy Department awarded $11.3 million in grants on Wednesday to two projects to advance the production of carbon fiber material from renewable, non-food-based feedstocks, such as agricultural residues and woody biomass. Carbon fiber can replace steel and other heavier metals, lowering cost and improving performance of fuel-efficient vehicles and renewable energy components such as wind turbine blades. The two projects include:
- Southern Research Institute (SRI) of Birmingham, Ala., will receive up to $5.9 million to innovate on a multi-step catalytic process for conversion of sugars from non-food biomass to acrylonitrile.
- National Renewable Energy Laboratory (NREL) of Golden, Colo., will receive up to $5.3 million to investigate and optimize multiple pathways to bio-acrylontrile.
New York Sets Aside $250M in Funding for Clean Energy – 7/30/14
On Tuesday, Gov. Andrew Cuomo announced that the New York State Energy Research and Development Authority is offering $250 million for clean energy generation projects such as wind farms, fuel cells, biomass facilities, renewable biogas and the upgrading of small-to-medium-sized hydropower projects.
California Energy Commission Awards $43.6M to 11 Biofuel Projects – 7/28/14
The California Energy Commission closed a grant solicitation process that began in January, announcing $43.6 million in funding for 11 biofuel projects aimed at developing new or modifying existing California-based biofuel production facilities that can sustainably deliver low carbon transportation fuels. To read more about the projects, click here.
Colorado State University Gets $1.5M for Biofuel Crop Development – 7/28/14
The Energy Department awarded Colorado State University Bioagricultural Sciences Associate Professor John McKay $1.5 million to develop a new crop for biofuels from the species Camelina sativa, which is an oilseed feedstock crop that can grow with little fertilizer and irrigation.
Camelina Sativa
Amjet Turbine Systems Awarded $1M DOE Grant for Hydroelectric Turbine -7/28/14
Amjet Turbine Systems has been awarded a $1 million grant from the Energy Department’s Small Business Innovation Research Phase II Program to support manufacturing efforts for the Amjet ATS-63 low-head hydroelectric turbine/generator.
DOE Awards $1.35M for Four Distributed Wind R&D Projects – 7/25/14
In support of its Clean Energy Manufacturing Initiative, the Energy Department has provided $1.35 million in grants to four U.S. companies — Pika Energy, Northern Power Systems, Endurance Wind Power, and Urban Green Energy — improve their turbine designs and manufacturing processes to reduce hardware costs and boost efficiency.
INTERNATIONAL
Calculus Capital invests $4M In Tire Monitoring Startup WheelRight to Reduce CO2 Emissions – 8/1/14
Private equity fund manager Calculus Capital has invested $4 million in Oxford, UK-based WheelRight Ltd, which has developed remote tire monitoring equipment. This technology aims to reduce wasted fuel loss that contributes to 4.8 million tons of additional and unnecessary CO2 emissions annually, according to a study by Bridgestone.
Singapore Awards $6.6M in Grants for Energy Efficiency Research Tailored to the Tropics – 7/30/14
In an effort to improve energy efficiency in commercial buildings, researchers from the National University of Singapore, Nanyang Technological University, and Ngee Ann Polytechnic were awarded S$8.3 million in grants by Singapor’s Building and Construction Authority. The research aims to address the needs of tropical environments, namely removing water from the air using less energy in order to improve the efficiency of air-conditioning systems.