Energy Theory

Reel is actively engaged in developing new projects and is ready to support companies interested in Power Purchase Agreements (PPAs). The new agreement for the Djursland Solar Park is a significant step for businesses in the green transition. Jon Sigvert, CEO and co-founder of Reel, excitedly added," This PPA marks a significant milestone in our journey to make renewable energy accessible and attractive for all companies, regardless of size. We are especially pleased that the solar park's power will benefit so many local companies, ensuring even greater local value creation. Energicenter Nord is dedicating part of the park to local wildlife, especially bats. They will plant fruit trees under power lines and wildflowers around the solar panels. The fence will be lifted 20 cm to allow animal movement. These initiatives were created in collaboration with the local community to balance climate and nature. 25 companies involved are: Aquaporin A/S, Arkitema, Baettr, Bobach Stålentreprise A/S, Brdr. Kjeldahl I/S, Combitherm A/S, Connected Wind Services Danmark, COWI, Danica Ejendomme, ExamVision, Gardit A/S, Genan, GPV, IDA, JP/Politikens Hus, Knebel Drilling A/S, Kvadrat, Lead Agency, SIF Gruppen A/S, SwipBox, Viggo, White Labs Inc., Hornslet Parish Council, Samsø Rescue Corps, and BI-plast. Morten Norup Fassov, Head of ESG at Danica Ejendomme, emphasises, "Danica Ejendomme views the collaboration with Reel and Energicenter Nord with great excitement, as it marks the beginning of our journey towards more renewable energy and, hopefully, more PPAs." Martin Romvig, CEO of Energicenter Nord added, "The new solar park in Mesballe is a prime example of how collaboration with local stakeholders ensures a project that benefits everyone. It’s this balanced approach that drives us, as a family-owned company, to develop sustainable, locally anchored energy solutions. #energytheory #PPA #energysector #decarbonizingenergysector #solarparks

TPG Rise Climate has raised $1.25 billion for its Global South Initiative, which focuses on advancing climate solutions in the Global South. This includes a $500 million commitment from the UAE-backed platform ALTÉRRA. The groundbreaking GSI strategy, along with the ALTÉRRA commitment, was first introduced in December 2023 during the COP28 climate conference in Dubai, with a goal of securing $2.5 billion in total capital commitments. Alongside the investment from TPG's Rise Climate II fund, TPG announced that this strategy has attracted commitments from institutional investors spanning Asia and North America. Jim Coulter, TPG Executive Chairman and a Managing Partner of TPG Rise Climate said, “We are encouraged by the initial pace of activity and client engagement around a first-of-its-kind strategy for our industry and expect that pace to continue, as we anticipate significant additional capital commitments in the coming two quarters. We look forward to activating our GSI strategy as early as the fourth quarter of this year and are grateful for ALTÉRRA’s continued partnership in spearheading this important initiative.” ALTÉRRA CEO H.E. Majid Al Suwaidi said, “These commitments demonstrate ALTÉRRA’s early progress towards channelling scale capital to climate solutions across the Global South, through novel approaches to climate investing. Our catalytic capital is proving instrumental in incentivizing investment to underserved markets, and the strong positive reception to GSI thus far is a testament to the value and potential of our innovative strategy.” #energytheory #climatesolutions #climatechange #promotesustainability #GlobalSouthInitiative #ALTÉRRA

American electric vehicle (EV) startup Faraday Future Intelligent Electric has unveiled Faraday X, a new brand dedicated to producing more budget-friendly electric vehicles, with early hints of two additional models. Less than a month after regaining compliance with the Nasdaq, Faraday Future is now focusing on creating lower-cost electric vehicles (EVs). Despite some promotional language, the new brand, Faraday X (or FX), aims to produce hit Artificial Intelligence Electric Vehicles (AIEV) that offer twice the performance at half the price. They plan to launch their first affordable EV by the end of 2025. Two FX brand products, the FX 5 and FX 6, are being developed through a user-defined co-creation process. Both vehicles will have two powertrain options: a range-extended AIEV (RE-AIEV) and a battery-electric AIEV (B-AIEV). Production is expected to start by the end of 2025. The more affordable FX 5 will be a spacious sporty EV, while the FX 6 will be a luxury family EV. The user-defined co-creation process is central to the company's mission, aligning with its slogan, Co-create, an AIEV for Everyone. This focuses on five initiatives: Open-Source, Open-Platform, User-Definition, Co-Creation, and Sharing. Additionally, FX aims to capitalize on the Biden administration's push to develop a domestic electric vehicle supply chain by integrating global automotive components in the US. While FX has touted its established relationships with four Chinese OEMs through signed agreements, the extent of its potential success remains uncertain. Amid recent announcements and the focus of the election season, the United States appears poised to impose substantial taxes on imports from China, casting doubt on FX’s optimistic projections. Global CEO of Faraday Future, Matthias Aydt said, “The core logic of FF’s second brand and bridge strategy is to create an industrial bridge, fostering close collaboration within the global supply chain to develop high-performance, cost-effective B-AIEV and RE-AIEV products for the US market. Looking ahead, I am excited about our future. With our talented team, I am confident in our ability to achieve our upcoming goals.” #energytheory #electricvehicle #budgetfriendlyEV #sustainabletransport #renewableneergy

Ayrton Energy has raised $6.8 million in seed funding to enhance its liquid organic hydrogen carrier (LOHC) technology. This funding round was spearheaded by Clean Energy Ventures and the investment arm of the Business Development Bank of Canada, BDC Capital. It also saw participation from notable investors including Antares Ventures, EPS Ventures, SOSV, The51, and UCeed Investment Funds. Ayrton, founded by mechanical engineer Natasha Kostenuk, P.Eng and chemist Dr Brandy Kinkead, PhD, has developed a LOHC technology that uses carrier oil to absorb and release hydrogen gas. This oil, along with hydrogen, can be stored in standard oilfield infrastructure like tanks and pipelines, eliminating the need for high-pressure tanks and reducing transport and storage risks and costs. Ayrton confidently asserts that this system has the potential to significantly enhance the generation and utilization of hydrogen. They are currently running a pilot program with ATCO Gas, the largest natural gas utility in Alberta, Canada. Natasha Kostenuk, P.Eng, Founder and CEO of Ayrton Energy, said, “Enabling the widespread production of clean hydrogen will be the backbone of an emissions-free future, and we believe our industry-agnostic solution will be a step in the right direction to democratize energy access globally. We’re grateful to our amazing cohort of investors whose expertise in scaling technologies commercially will be integral as we continue to grow our customer base.” Cheri Corbett, Partner and Team Lead at BDC Capital’s Climate Tech Fund, said, “The hydrogen sector will play an increasingly important role in decarbonizing our economy. Ayrton’s technology will enable sizable greenhouse gas reduction, and help Canada reach its 2030 and 2050 climate targets. We’re excited to play a role in supporting its management team’s impressive growth plans, which is fully aligned with our mission to support entrepreneurs like Natasha who accelerate Canada’s innovation outcomes in climate technologies.” #energytheory #liquidorganichydrogencarrier #LOHCtechnology #cleantech #hydrogen #energytransition

Sublime Systems, a low-carbon cement producer, has partnered with CRH and Holcim. This partnership includes a $75 million equity investment and a binding offtake reservation to help develop Sublime's first commercial manufacturing facility in Holyoke, Mass. This follows an $86.9 million investment from the U.S. Department of Energy, funding up to 50% of the plant's construction. Holcim and CRH's binding cement reservations will enhance Sublime Cement's use in construction. The Holyoke plant seeks to mitigate risks and boost technology against traditional cement production, which tops one million tons yearly. Both companies will collaborate with Sublime to create future true-zero plants. Founded in 2020 from MIT, Sublime has created a method using an electrolyzer to produce cement at ambient temperatures. This replaces traditional energy-intensive kilns and allows for the use of calcium sources that don't release CO2 from limestone. During this process, limestone is transformed into lime at room temperature, making it easier to capture the CO2 produced. Sublime's technology creates cement with low embodied CO2 and energy, using a clean electrochemical process. This method utilizes clean electricity and carbon-free materials to produce engineered ingredients for high-performance concrete. Sublime CEO and Co-Founder Dr Leah Ellis said, “If Sublime is to have a swift and massive impact on climate change, our breakthrough technology must be paired with manufacturing operations, logistics, and distribution — areas the building materials leaders excel in. Holcim and CRH each bring unique strategic advantages and expertise in the industry, and these partnerships offer Sublime an unparalleled opportunity to scale our technology with the urgency the climate crisis requires.” Holcim’s Chief Sustainability Officer Nollaig Forrest said, “Sublime is a disruptive force in cement making. Its unique technology cuts across the entire production process, from the use of clean electricity to carbon-free raw materials. We are excited about its potential and are delighted to be partnering together to bring it to the market at scale. This investment is fully in line with Holcim’s strategy to accelerate the decarbonization of construction by scaling up the most innovative technologies.” Eduardo Gomez Mendoza, Head of CRH Ventures, said, “This investment in Sublime demonstrates CRH’s commitment to supporting breakthrough technologies and driving forward innovative low-carbon solutions for the built environment. Sublime’s differentiated technology and ability to scale, combined with CRH’s expertise and footprint across North America and Europe, offers significant potential to dramatically decarbonize cement production.” #energytheory #sustainablecement #lowcarbonemission #sustainability #sustainabilityinconstruction

David Energy has raised $23 million to revolutionize the retail energy market and achieve a clean energy grid. The funding, led by Cathay Innovation, includes contributions from previous investors like Union Square Ventures and Keyframe Capital. This investment will help David Energy operate the grid entirely on clean energy year-round. David Energy seeks to decarbonize the energy sector by establishing a clean energy grid for residential and commercial customers. It aligns with renewable availability, managing fluctuations to offer better returns, control, and affordable energy. The company modernizes the confusing energy consumer experience by increasing transparency, providing essential information, and simplifying processes. Founded in 2019, David Energy has provided electricity solutions for homes and businesses. After its Series A funding in March 2022, it expanded its energy management platform for multi-unit businesses to over 1,000 locations across New York, New Jersey, Massachusetts, and Texas, achieving 198% year-over-year growth and attracting over 60 new brands like Equinox and Subway. The company also introduced residential services in Texas, enhancing ROI and control for EV and battery owners, with a tenfold increase in connected devices since last year. CEO of David Energy, James McGinniss said, "The core challenge in operating modern grids is managing the volatility brought on by renewables. This investment gives us the capital we need to validate this opportunity and our approach to decarbonizing the grid." Simon Wu, Partner with Cathay Innovation said, "David Energy is completely redefining what it means to be a retail energy provider with a modern, tech-forward and vertically integrated approach designed for the clean energy era. David Energy is primed to scale and we're thrilled to support James and the team on the journey ahead." #energytheory #cleanenergygrid #sustainableenergysector #renewableenergy

FluoRok, a start-up from Oxford, has raised £7.7 ($9.8m) million to scale up and produce new fluorochemical reagents and battery electrolyte salts. The funding round, which attracted more investment than expected, was led by BGF and included Green Generation Fund, Volta Energy Technologies, existing investors Oxford Science Enterprises and the University of Oxford, Excellis Holding, and angel investors.   Established in 2022, FluoRok is an innovative spin-out from the University of Oxford that has pioneered a groundbreaking and patented technique for accessing fluorochemicals. These essential compounds, which contain the element fluorine, play a crucial role in advancing the world’s energy transition, as well as in healthcare and food supply. FluoRok has created a safe and sustainable method that avoids HF, making fluorochemical production more environmentally friendly and cost-effective. This innovation has attracted many potential customers, especially in the Li-ion battery and agrochemicals sectors.    Dr Gabriele Pupo, CEO and founder of FluoRok, said, “We are delighted to welcome BGF and Green Generation Fund along with Volta Energy Technologies to our investor base. This investment will play a huge part in our journey to scale and commercialise our proprietary technology with key partners across the global fluorochemical supply chain, and in accelerating the development of a technology that can provide a reliable and localised supply of a key component of Li-ion batteries.”   Dennis Atkinson, investor at BGF, said, “FluoRok’s approach transforms the safety and sustainability of fluorochemical production while reducing costs. We are particularly encouraged by the significant early demand from customers across the globe and look forward to supporting FluoRok’s journey to disrupt the global market and reach commercial scale.”   Dr. Manon Sarah Littek, founding partner at Green Generation Fund, said: “As we continue our mission toward a resilient and sustainable future, the Green Generation Fund is thrilled to partner with what we anticipate will become one of the global leaders in fluorination and supply chain independence.”   Dr Jeffrey Chamberlain, CEO and Founder of Volta Energy Technologies said: “The use of FluoRok reagents in the battery industry promises to enable the production of fluorinated electrolyte salts, like LiPF6, without the need to use toxic and corrosive hydrofluoric acid. This will reduce the barrier to entry for new players in the electrolyte industry in Europe and North America. The wide number of applications for FluoRok reagents beyond the battery industry provide great potential for FluoRok to have an impact in many markets across the globe.” #energytheory #fluorochemicalproduction #safetyandsustainability #sustainableproduction

NEOSUN Energy, a leading global EPC company, has established an agreement to implement a 1 MW rooftop solar facility at Dayizenza Mall in Nelspruit, South Africa. With a remarkable capacity of 998 kWp, this project marks a pivotal advancement in sustainability for the mall and underscores Neosun Energy's growing presence in the South African market. The project has an internal rate of return (IRR) of 53% and a payback period of only 12 months, aided by a Section 12B government tax incentive. Total savings over the plant’s lifetime are projected to surpass R164 million, highlighting its cost-effectiveness in renewable energy. Neosun Energy has started its project and opened new branches in Cape Town and Johannesburg to better serve local customers. With South Africa's energy issues, like load shedding and increasing electricity costs, solar energy is seen as a practical solution for businesses. The solar station will reduce CO2 emissions by 25,807 tons and establish Dayizenza Mall as a leader in sustainability in Nelspruit. This initiative is considered a model for other South African businesses to consider the benefits of renewable energy. Jeanine Nicole Jackson, Head of Sales for NEOSUN South Africa, emphasized the environmental and financial benefits of the project, which is expected to reduce electricity costs by 50-60% over its 40-year lifespan. “This solar power plant will not only bring significant savings but also support the transition to clean energy solutions,” said Jackson. CEO of Neosun Energy, Ilya Likhov, stated, “Our entry into the South African market comes at a critical time, and we are committed to helping local enterprises overcome energy access issues with advanced solar solutions.” #rooftopsolar #renewableenegry #sustainability #energytheory

Phlair, previously known as Carbon Atlantis, is advancing its carbon capture technology designed to eliminate unavoidable CO₂ emissions. The company has successfully secured €14.5 million in a seed funding round, aimed at expanding its operations and enhancing its Direct Air Capture (DAC) technology. This investment will expedite the creation of two pioneering plants, Electra 01 and Electra 02, each designed to capture 260 tons of CO2 per year. Additionally, it sets the groundwork for Phlair's first major commercial facility, Dawn, which aims to capture over 20,000 tons of CO2 annually and is expected to commence operations in 2026. Phlair's innovation uses standard components and is powered by electricity for its CO₂ capture system, enabling rapid scalability and high durability. It features built-in energy storage, removing the need for costly batteries. Partners use the captured CO₂ for permanent storage or to create CO2-negative chemicals. Extantia Capital led the financing round, joined by Planet A and Verve Ventures, which includes a €2.5 million grant from the EIC accelerator. Existing investors Atlantic Labs, Counteract, and UnternehmerTUM Funding for Innovators also took part, and the round was oversubscribed. Malte Feucht, Phlair founder & CEO, said, “Our DAC system is purposefully designed for mass manufacturing. Combining our manufacturability with rapid execution, we are able to start addressing the world’s urgent need for scalable DAC solutions and deliver meaningful volumes. All of this while driving costs down toward our long-term goal of sub $100/tCO2, putting us in a great position to lead this industry.” Torben Schreiter, Partner at Extantia Capital, said, “Scaling DAC while aggressively driving down the costs is no small feat. We are convinced Phlair is uniquely positioned to lead the third wave of DAC companies (DAC 3.0), as they place emphasis not just on price but also on manufacturability. The team is nothing short of outstanding, and we are impressed by their speed of execution.” #DAC #directaircapture #energytheory #sustainability #capturecarbondioxide

Smalt, a Berlin-based company that has developed a talent development and technology services platform tailored for the green energy sector, has successfully secured €8M in a pre-emptive seed funding round. The round was led by noa (formerly A/O), Europe's largest VC focused on human-built environments and infrastructure, with participation from General Catalyst, Owl Ventures, and Heartfelt (formerly APX). Founded in September 2023, Smalt provides on-demand installation services and sub-contracting across Germany, along with consultation and financing solutions. The company has opened an accredited academy in Berlin and four other hubs in Germany, aiming to expand through a network of franchised stores led by its workforce and local entrepreneurs. Smalt has already completed over 200 PV systems, serving notable companies like Thermondo, Otovo, and Enviria in residential and commercial projects. Smalt aims to address the shortage of skilled workers required for climate tech installation and service, a major barrier to Europe's shift to cleaner energy. Their platform enhances labor supply and productivity. Training provided by Smalt enables individuals, including new immigrants, to pursue careers that meet Europe’s urgent needs and contribute to the economy. Marius Westhoff, Co-Founder and Managing Director of Smalt said, “Our franchise platform enables the European craft ecosystem to work more efficiently and thus strengthens European sovereignty in the renewable energy sector. The new financing will accelerate our growth in the commercial solar and maintenance segment.” Arjun Jairaj, Investor at Noa said, “The shortage of skilled workers is a key bottleneck in Europe’s energy transition. Smalt offers a holistic approach to tackling this problem by attracting fresh talent into the industry and expediting their entry to the jobsite by blending digital and on-site training, and combining this with a technology platform to ensure repeatable high-quality service delivery.” #energytheory #labortraining #workforcetrainingingreenenergy #sustainablejobs