Shomik Dutta’s Post

This morning, we announced Andreessen Horowitz is leading an $18.2 million Series A in Crux.  Lowercarbon Capital, Overture VC, and New System Ventures are also participating. The market for transferable tax credits is accelerating rapidly and is already a critical catalyst to clean energy development and decarbonization. This new capital will allow us to expand the team to 30+, grow annual volumes of transferable credits to the billions, and begin to add other complementary products that make sustainable finance more efficient and interconnected.  Allen Kramer and I are excited about the incredible resources available through the a16z platform, the strong fit with their American Dynamism practice, and the excellent a16z team. David Haber will join our board and brings terrific experience as an operator and investor.  We’ve now raised more than $27 million since forming the company last year. A16z joins a group of amazing venture and strategic investors, including those mentioned above, Ardent Venture Partners, Canapi Ventures, QED Investors via Bolt, LS Power, Ørsted, Hartree Partners, CIV, and Commonweal Ventures. Axios has the story 👇 https://lnkd.in/gmJUnw2B Cc - Marc Andrusko, Michelle V., Clay Dumas, Chris Sacca, Shawn Xu, Clea Kolster, PhD, Ian Samuels, Shomik Dutta, Brandon Hurlbut, Michael O'Neil, Kiran Bhatraju, Phil Bronner, dan preiss, Walker Forehand, Lulu Chang, Gene Ludwig, Amias Gerety, Reid Capalino, Neil Hamel, Varun Sivaram, George Potts, Patrick Maloney, Jeff Rosenthal, Nate Loewentheil, Ron Bloom

The transferable tax credit market is heating up — join Alfred and Stephen Lacey tomorrow at 1pm ET for their discussion on how transferable tax credits are expanding #CleanEnergy investment, and what's next: https://lnkd.in/egeePyR6

🌎 Climate tech #startups that raised capital last week 👇 With more than 60 deals logged on the Net0 platform last week, we recorded some significant deals. Here's a list of the top seven deals: 🌍 United States, Beaverton-based Intersect Power, a clean energy company bringing innovative and scalable low-carbon solutions to its customers in retail and wholesale energy markets, received $837M in debt financing from Morgan Stanley, HPS Investment Partners, LLC, and Deutsche Bank. ☀️United States, San Francisco-based d.light, developing solar-powered products and financial solutions for households and small businesses, received $176M in debt financing from African Frontier Capital. 💧Germany, Erlangen-based Hydrogenious LOHC, developing Liquid Organic Hydrogen Carrier (LOHC) technology for hydrogen storage, received a $78.9M Grant from Federal Ministry for Economic Affairs and Climate Action and Bayerisches Staatsministerium für Wirtschaft, Landesentwicklung und Energie. ⚡United States, Seattle-based LevelTen Energy, operating a renewable energy marketplace, raised $65M in a Series D round from B Capital , Constellation, Google, Microsoft, and Prelude Ventures amongst others. 🔋United States, Denver-based Peak Energy, developing sodium-ion battery systems for renewable energy storage, raised $55M in a Series A round from Xora Innovation, Eclipse, TDK Ventures, Doral Energy-Tech Ventures, and Lachy Groom amongst others. 🌿Denmark, Copenhagen-based Again , producing carbon-negative products, raised $43M in a Series A round from GV (Google Ventures), HV Capital, KOMPAS VC, Export and Investment Fund of Denmark, ACME Capital, and Atlantic Labs. 🏭United Kingdom, London-based 44.01, developing technology for the underground storage of carbon dioxide (CO2), raised $37M in a Series A round from Equinor, Shorooq Partners, Alumni Ventures, The Climate Pledge, Planet A Ventures, and IDO Investments amongst others. #netzeroinsights #climatetech #investments #funding #venturecapital

“Eunoia really gets at the bottlenecks to scalability for the Great Deployment, so that not only are we deploying more capital, but that capital is going toward those critical bottlenecks. That piece is what I’ve coined as the “de-risk-as-a-service” studio, mapping and understanding risk for projects. These are all areas that historically, founders have navigated successfully. But these insights aren’t all in one place for companies to leverage or tailored toward their specific challenges and scalability. That’s what Eunoia Analytics is doing — it’s standardizing the processes that can be the most clunky and difficult for startups that are scaling. Eunoia Capital also creates strategies alongside institutional investors and then works with them to deploy that capital based on their parameters.” Thank you to Julian Spector and the Canary Media Inc. for featuring our founder Chante Harris https://lnkd.in/eDPDPtgU #climatetech #FOAK #projectfinance #decarbonization #energytransition #Eunoia

What can #hardtech and #deeptech #startups learn from #solar? A lot. Based on the pioneering research by Richard Kauffman from NYSERDA, Dr. Soh Young In and Dr. Ashby Monk from Stanford University, and our work at Perl Street, this presentation overviews structural issues in cleantech investments and shares a blueprint and emerging business models to achieve net zero. Feel free to let us know how we can improve it. #FOAK #Climatetech #valleyofdeath #deeptech #financialpipes #hardtech #assetmanagement #renewableenergy #ProjectFinancing #EnergyDevelopment #CleanEnergyProjects #FinancialInfrastructure #SustainableInvesting

Great report. It notes the growing role of Angel Investing: "Angel investing is becoming an increasingly vital component of a founder's fundraising journey. The emergence of new platforms that allow smaller investors to partake in venture capital grade investment rounds, coupled with educational initiatives for newcomers, has expanded the scope of Australians able to contribute to the development of the nation's next great companies. It also notes a shift in demographics, with more younger Angels, which is great to see: "New ways for angel investors to invest with smaller cheques, like syndicates, have opened the gate for younger and lower - income angels to dive in. Angels under 40 reported the highest surge in activity from 2022 to 2023 and exhibit the most optimism as we move into 2024.

Yischai Beinisch, Head of West Africa – Emerging Market Power at Shell Energy, shares his customer acquisition strategies for early-stage energy startup success in our Mentor Magic QnA series. Share your insights on customer acquisition strategies for energy startups in the comments, and tag a fellow founder who could benefit. Let's grow together! #MentorMagic #EnergyStartupInsights #givefirst

“Startups working on groundbreaking technologies for adaptation and climate solutions have an important role to play in accelerating climate action.” - Noa Havazelet, Head of Google for Startups Accelerator 🚀 Tomorrow, November 28th at 9 am ET, 3 pm CET, and 10 pm SGT the following four startups will be presenting their pitches to TTI investors and members:   ME Energy - Liquid Electricity GmbH - First provider and operator of off-grid and CO2-neutral fast charging stations. Founded by Alexander Sohl - Series A Reverse Resources - A SaaS platform to digitise, connect, and scale global textile-to-textile recycling. Founded by Ann Runnel - Seed Easy Solar Group - A technology-driven development organization, aimed at developing through cooperation to tackle large-scale energy solutions. Founded by Ron Plat - Series A    Open Forest Protocol - A global network for verifying and issuing data-backed carbon credits. Head of Growth, Jeremy Epstein - Seed

"Climate-tech ventures, if successful, will change the world. They will change how we generate energy, how we get from one place to another, what we eat, how we travel, what we wear and much more." says Egor Savvin from Alfin Ventures. #climatetech #climateVC #climateaction

Missed posting climate tech funding updates on Friday... Nexamp nabs $520M to build community solar across the US Nexamp’s big-money infusion puts the company on a path to build community solar by the gigawatt, across 19 states. The funding round was led by insurance subsidiary Manulife Investment Management, along with existing investors Diamond Generating Corporation (a subsidiary of Mitsubishi) and Generate Capital. Wellington Management raises $385M for first private climate fund Expects to back 15-20 startups through its climate fund, writing initial checks ranging from $10 million to $25 million. It will target Series B through Series D rounds, typically as lead investor seeking board seats. The firm will chiefly focus on North America and Europe. Target industries span smart buildings and cities, food, agriculture, mobility, energy transition, and the enterprise and industrial sectors. Platform Science secures $125M to grow OEM partnerships Will help accelerate the launch of additional OEM partners and it will enable us to accelerate the number of on-vehicle applications and service partners we add to the vehicle ecosystem. Participating in this round are existing investors 8VC, NewRoad Capital Partners, and Prologis Ventures, joined by new backers Activant Capital, Manhattan Ventures Partners and BDT & MSD Partners. Great to see capital for growth stage climate tech companies - that's been a big gap recently. What else is happening out there? Links to sources in comments. #climatetech #sustainability #venturecapital #startups