When the history books tell the story of how society took climate action to decarbonize our economy and build a cleaner world for society, 2022 will have a headlining role in that narrative! And, humbly, we’re confident many of our members’ milestones and achievements from this year will be included in the story, too. From major injections of capital to monumental progress on climate policy, “We”—the collective “We”—made huge strides toward our climate goals this year. And we couldn’t be more proud of our 200 members’ hard work and accomplishments throughout 2022. Here are just a handful of our entrepreneurs’ most impressive moments:

Funding

• Form Energy raised a $450M Series E for its cost-effective, multi-day energy-storage systems.
• Fervo Energy, a developer of next-generation geothermal projects, raised $138M in funding to build, own, and operate 24/7 carbon-free power plants.
• Electra raised an $85M round to electrify and decarbonize ironmaking and steelmaking.
• Verdox raised $80M for its electric carbon capture technology, including from Bill Gates’ Breakthrough Energy Ventures.
• Syzygy Plasmonics closed a $76M Series C to accelerate its delivery of low-carbon hydrogen technology.
• Dandelion Energy raised a $70M Series B-1 round to install geothermal heating and cooling solutions.
• American Battery Technology Company was awarded a $57M Department of Energy grant to build a $115M, first-of-kind commercial-scale facility to manufacture battery-grade lithium hydroxide from Nevada-based sedimentary resources. 
• OhmConnect raised a $55M Series D to expand its residential energy flexibility solution into new markets.
• SparkCharge raised a $23M Series A, co-led by Tale Venture Partners and Pendulum and featuring a slew of other impressive investors, including the Mark Cuban Companies, Pusha-T, and Greentown partner Silicon Valley Bank.
• Cleartrace announced a $20M financing round, from several strategic investors, including Greentown partner EDF Energy North America.
• Tender Food raised a $12M seed round, led by Lowercarbon Capital.

Partnerships + Deployments

• SparkCharge’s Currently app partnered with Kia to bring on-demand EV charging to Kia customers and expanded its charging delivery to cities throughout California. 
• LineVision announced major projects with Greentown’s partner National Grid in New York and the United Kingdom—two projects that will create enough additional capacity to power 600,000 households while saving hundreds of MW in curtailments.
• Cemvita Factory, a Greentown member and Carbon to Value Initiative alum, partnered with Fluor—the initiative’s Year 2 cohort champion—to scale sustainable bio-solutions to extract critical minerals. It also completed a successful field pilot of its gold hydrogen production tech, created a wholly owned subsidiary called Gold H2, and raised funding for that entity.
• Energy Toolbase, in partnership with Tantalus Systems, deployed an industry-leading commercial microgrid project that includes solar panels and battery storage in Riverdale, CA.
• Advent Technologies announced a $821M project to develop fuel cells and electrolyzers in Greece over six years.
• Energy Dome launched its first CO2 battery long-duration energy storage plant.
• Greentown members Stash Energy and Beacon Climate Innovations partnered to install a thermal-energy-storage heat pump network for about 25 low-income homes, with support from an InnovateMass award and in collaboration with partners including the Taunton Housing Authority. 
• Peak Power received a $765K investment from Natural Resources Canada’s Zero Emission Vehicle Infrastructure Program to install 117 V1G chargers—and partnered with fellow Greentown member SWTCH Energy on the installations.
• Nth Cycle began commercial operations of its electro-extraction critical mineral collector. 
• Fervo Energy executed a PPA to provide 24/7 carbon-free geothermal electricity to 3 million customers in Southern California, and also announced a 20 MW power purchase agreement to provide power to a group of nine California-based community choice aggregators.
• CeraPhi Energy announced a joint venture with UK Oil & Gas PLC to develop part of UK Oil and Gas’s Horse Hill site near Gatwick Airport into a green geothermal energy hub.
• AIR COMPANY, a Carbon to Value Initiative alum, announced a new partnership with JetBlue. The airline will purchase 25 million gallons of AIRMADE sustainable aviation fuel over five years, with a targeted start in 2027.
• Greentown alum C16 Biosciences announced its first industrial-scale, 50,000 liter fermentation and the launch of a new consumer-facing brand platform for its palm oil alternatives, Palmless™.

Acquisitions

• Greentown member Heila Technologies, which simplifies the integration and operation of distributed energy resources and microgrids, was acquired by Kohler Co.
• Greentown alum Packetized Energy, which builds “virtual” batteries for a cleaner grid, was acquired by EnergyHub.
• NBD Nano, a Greentown alum with expertise in advanced materials and surface properties, was acquired by Henkel.

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!