News

Greentown Labs Member Milestones — February 2025

by Reena Karasin

Our 200+ startups never fail to impress us with their hard work and commitment to scaling their climatetech solutions! Check out their latest accomplishments below.

Interested in engaging with or joining our community of climatetech startups? Learn about how you can take action with our members or apply for startup membership!

Funding

  • MacroCycle, which upcycles lower-value plastic waste into virgin-grade plastic with zero carbon emissions, raised a $6.5M seed round co-led by Greentown partner Clean Energy Ventures.
  • Imperium Technologies, whose electrochemical solution reduces industrial heating greenhouse-gas emissions by 20 percent by addressing steam systems’ failures, closed $1.2M in funding.
  • Stepwise announced SoPark Corporation as a strategic investor and manufacturing partner. The startup makes home electrification effortless and affordable by reducing the infrastructure upgrades costs associated with installations and helping homeowners save money on their electricity bills through energy management.
  • Greentown alum QuEra Computing raised $230M for its quantum-computing tech. The company is now valued at more than $1B.
  • Carbon to Value Initiative (C2V Initiative) alum CarbonQuest, which provides decarbonization technologies and solutions for buildings with a focus on modular carbon capture, raised $20M.
  • C2V Initiative alum Mitico raised a $4.3M seed round for its carbon-capture tech that leverages granulated metal-carbonate sorption.

Partnerships + Deployments

  • Phlair—a C2V Initiative participant that develops a renewable-energy-powered direct air capture system using an electrochemical process for acid and base generation—signed a $30.6M offtake agreement with Frontier to remove 47,000 tons of CO₂.
  • XTPL, developer of a breakthrough, additive manufacturing technology for the ultra-precise printing of nanomaterials, received an order from the University of Cambridge and signed a non-exclusive distribution agreement with Printed Electronics Corporation.
  • Haffner Energy—which designs, manufactures, supplies, and operates biofuel and hydrogen solutions using biomass residues—signed a strategic partnership with ATOBA Energy that “secures long-term offtake agreements, unlocking financing and accelerating the scale-up of SAF production.”
  • Pressure Corp, a developer and operator of clean energy waste pressure power systems, announced a strategic partnership with Morrison Street Advisors to launch a new company, Pressure Core.
  • Kanin Energy is partnering with LAVA and Birchcliff Energy on a waste-heat-to-power project, supported by $500k from Emissions Reduction Alberta’s Industrial Transformation Challenge.
  • C2V Initiative participant Oxylus Energy signed a joint R&D initiative with Element 1 Corp to “explore the use of Oxylus’s green methanol as a feedstock for point-of-use hydrogen production.”
  • Neuralix announced that in a recent project with a midstream company, its Data Lifecycle Templatization and AI framework enabled a 30 percent reduction in operational downtime and 12-16 percent annual utility cost savings.
  • Greentown alum Type One Energy signed a licensing and manufacturing agreement with Commonwealth Fusion Systems to advance the development of its stellarator fusion magnets.
  • Greentown alum PolyJoule launched its second-generation conductive-polymer battery, the Energy Reservoir.
  • Greentown Go alum HyperKelp is deploying its Kelp Smart Buoys—which offer comprehensive ocean surveillance and intelligence gathering—in San Diego Bay.

Expansions

Awards + Recognition