⚡ 9 climate tech startups raised $354M (#187)
4 insights, 400 climate CEOs & investors, 4 minutes
Welcome to my newsletter from Entrepreneurs for Impact (EFI).
I share lessons learned from working with 400 climate tech CEOs and investors—plus 25 years of meditation practice—to help people fight climate change profitably and maybe even lead a happier life.
Join 20,000+ folks and access 180+ prior issues.
Four topics:
45 women with PhDs growing climate tech ventures
$350M+ for AI investing in energy
9 climate tech companies just raised $354M
The Intimacy Dinner: engineering trust via vulnerability
1.
45 women with PhDs growing climate tech ventures
First, thanks to Hack Summit and Laura Hodgkiss for this incredible research below!
Second, I have a soft spot for PhDs who become entrepreneurs! I encourage you, dear readers, to ping or promote 2-3 of these leaders today.
Third, I know I’m late for International Women's Day (March 8th). Better late than never?
Here are these 45 women innovators:
New Materials:
Xirui LI, Liz Dennett, Dhaarsi Jaksch, Elizabeth Gilligan, Liz Corbin, Tara Love, Isabell Sarah Karmel, Anne Lamp, Gözde Şenel-Ayaz
Green Chemistry:
Dr. Sotiria Mostrou, Emily Sheridan, Ophira Melamed, Meital Alon, Leah Ellis, Dr. Tara Karimi
Carbon Capture and Utilisation:
Jennifer Holmgren , Sandra Astete Morales, Dr. Rose (rezvan) Sharifian, Julia Bauer, Etosha (Eee-tah-sha) Cave
Biodiversity:
Beth Shapiro, Emira Cherif, Beccy Wilebore, Dr. Ulrike Pfreundt, Kristy Deiner
AgriFood:
Shulamit Levenberg, Neta Lavon, Shannon Falconer, Kelly Mulder, Lori GIver, Martina Miotto, Frida Grynspan, Luísa Cruz, Verónica García Arteaga, Victoria Outram, Maya Bendifallah, Nimisha Sing, Jasmin Hume,
Energy:
Jane Melia, Jana Stella
Water:
Jessica Droujko, Jade Stinson
BioTech and Biomanufacturing:
Monika Tomecka, Michele Stansfield, Bethany Eldridge
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Special shout-outs to Dr. Liz Dennett, Founder and CEO of Endolith (harnessing microbes and synthetic biology to fuel sustainable mining), and Dr. Megan O’Connor, Co-founder and CEO of Nth Cycle (critical metals recycling). 👏
We’re excited to have both as EFI Climate Fellows in our CEO peer group community!
2.
$350M+ for AI Investing in Energy Since 2016
Ernst Sack, Partner at Blue Bear Capital, was my recent guest on our Entrepreneurs for Impact (EFI) podcast.
Blue Bear Capital is a venture and early-growth equity fund focused on digital technologies for the energy industry.
On their third fund, their companies harness IoT, machine learning, and cyber security across solar, wind, and the broader energy infrastructure.
Before Blue Bear, Ernst spent nine years at Riverstone, a leading energy private equity firm that has invested over $45B since 2000.
He has held board roles for 15+ energy and software companies, including Raptor Maps, Pani, Axiom Cloud, and Shoreline.
In this podcast, you’ll learn these takeaways and more.
What check size they write into early-stage startups
What kind of founders they like
Why he lives by this quote: “What matters is not the number of your weaknesses but the magnitude of your strengths”
Listen to the podcast and share your thoughts on my LinkedIn post.
3.
These 9 climate companies just raised $354M
Want a job? Or a customer? Go where the money is.
Kudos to the entrepreneurs behind these inspiring headlines. 👏
This doesn’t just happen magically. It comes after 100s of rejections, late nights, pivots, and questioning one’s sanity.
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Terabase Energy
Digital and automation solutions to reduce costs and enhance scalability in utility-scale solar power plants
$130M Series C (led by SoftBank Vision Fund 2)
CEO: Matt Campbell
Tandem PV
High-efficiency perovskite-silicon tandem solar panels for higher power outputs and improved durability
$50M Series A (investors include Eclipse Ventures, CSC Leasing, Constellation Energy, Planetary Technologies, Stifel Bank)
CEO: Scott Wharton
Spiritus
Direct air capture technology using solid sorbent materials circulated between adsorption and desorption steps
$30M Series A (investors include Aramco Ventures, Khosla Ventures, Mitsubishi Heavy Industries, TDK Ventures)
CEO: Charles Cadieu
Equilibrium Energy
Advanced energy management solutions using artificial intelligence to optimize energy consumption and grid reliability
$28M Series B2 (led by GS Energy)
CEO: Ryan Hanley
Capture6
Direct air capture that removes CO2 while producing additional freshwater for local communities
$27M Series A and project financing (led by Tetrad Real Estate Corporation)
CEO: Ethan Cohen-Cole (also an EFI Climate Fellow in our CEO peer group community!)
Summit Nanotech
Sustainable lithium extraction from brine using fully integrated water recycling
$25M (investors include Evok Innovations, BDC Capital’s Climate Tech Fund, Xora Innovation, Capricorn Investment Group, Mitsui Kinzoku – SBI Material Innovation Fund, LG Technology Ventures)
CEO: Amanda Hall (also an EFI Climate Fellow in our CEO peer group community!)
Coreshell
Batteries with increased capacity, safety, and lifespan through advanced nanolayer coatings
$24M Series A2 (investors include Ferroglobe, Asymmetry Ventures, Entrada Ventures, Foothill Ventures, Helios Climate Ventures, and others)
CEO: Jonathan Tan (also an EFI Climate Fellow in our CEO peer group community!)
Ndustrial
AI platform, data analytics, and real-time monitoring for industrial energy management
$20M Series B (investors include Southwire Company, ABB, GS Energy, Clean Energy Ventures, and ENGIE New Ventures)
CEO: Jason Massey (a fellow RTP, North Carolina friend building climate tech before it was cool!)
DG Matrix
Solid-state transformers for data centers, EV charging, and microgrids
$20M seed (investors included Clean Energy Ventures, ABB, Cerberus Ventures, Chevron Technology Ventures, Piedmont Capital)
CEO: Haroon Inam (also an EFI Climate CEO Fellow alum, and I’m excited to be a Board Advisor, too!)
4.
The Intimacy Dinner: creating trust with vulnerability
I’m reading a good business book right now. (Oxymoron, I know!)
Never Lead Alone: 10 Shifts from Leadership to Teamship by Keith Ferrazzi
One insight is this: The Intimacy Dinner.
In summary, we can engineer team trust building versus waiting for it to happen organically.
And unlike “ropes courses,” our fear of heights is not an issue.
How do they work?
1.
Schedule the team dinner quarterly in a quiet setting.
2.
Set the ground rules.
Reinforce confidentiality.
Practice deep listening with no interruptions.
Model by example and share your honest answers.
Pause and reflect after each person shares.
3.
Ask non-work questions like these.
"What experience from your past has most contributed to who you are today?"
"What's the biggest mistake you've made personally or professionally and the lesson you've learned from it?"
"What legacy would you like to leave personally and professionally?"
What are the possible company benefits of these dinners?
Better team collaboration
Higher employee satisfaction
Faster problem-solving
Bridged cultural divides
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Read more from the author in this LinkedIn post.
That’s all, y’all.
Make it a great week. It’s usually a choice.
~ Chris
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