Latest News: Energy Innovation Capital Portfolio Companies' Key Moments & Highlights

As we reflect on the end of 2024 and look forward to 2025, there's a lot to be proud of and excited about

In particular, we were thrilled to be able to announce the launch of the Virtus Innovation Center . This groundbreaking 40,000-square-foot Innovation Center focused on the grand challenges of National Security and Energy and Industrial Technologies. We’d like to extend our gratitude to A&MPLIFY by A&M and our partners at JBG SMITH for taking this exciting step forward with us.

In early December, EIC Managing Partner Kevin Skillern spoke at the North American Gas Forum, on the Driving Innovation for a Net-Zero Energy Economy panel. It was a great conversation, with panelists Stephen Westhoven (President & CEO, NJ Resources, Inc.), Sarah Delille (Vice-President of US Country Management, Equinor) and Steven Borsos os (Vice-President of LNG, Fluor Corporation) sharing fascinating industry insights.

Our portfolio companies have made great strides this year, and are set to keep moving us toward a more sustainable future in 2025. Let's take a look at their key pieces of news from the last couple of months:

Mission Secure: ServiceNow announces acquisition

• ServiceNow announced their acquisition of Mission Secure, with Mission Secure CEO Jens Meggers noting that the move would help the company to “provide customers with the enhanced level of visibility needed to drive greater operational excellence and enable smarter decision-making across the organization.”

Read more about the acquisition here.

ConnectDER: Series D funding secured, NEMA blog feature, Inside EV video feature

• ConnectDER secured $35 million in Series-D funding to accelerate its market expansion and product innovation. The funding round was led by new investor Decarbonization Partners, a partnership between BlackRock and Temasek , with participation from MassMutual Ventures . EIC is among the many existing investors who also participated.
• Daniel Falcone ConnectDER's VP of Product, was quoted in a blog post from NEMA outlining meter socket adapters and their potential impact in giving more people access to clean energy.
• We had the chance to watch the first installation of a ConnectDER meter socket adapter in Vermont on State of Charge, the YouTube channel from Inside EVs' Senior Editor Tom Moloughney. The video also gave a great rundown of why the meter socket adapters represent such a big step forward in the democratization of EV access.

Read more about the Series D funding round here, read the NEMA post here, and watch the State of Charge video here.

ZENRG: Series A funding secured

• A leading provider of emission reduction services for energy industry operations, ZENRG successfully completed a Series A funding round. Alongside new investment from EIC Rose Rock , other investors included Chevron Technology Ventures, BP Energy Partners and existing investors.

Read more about ZENRG's Series A funding here.

Titan Advanced Energy Solutions: selected for DOE funding

• As one of eleven projects selected by the Department of Energy, Titan Advanced Energy Solutions will receive $2.6 million towards developing a cell inspection platform using data-driven digital techniques to reduce the cost of manufacturing quality, focusing on defect detection and cell uniformity.

Read more about the DOE funding here.

Moleaer: Agri Water Innovation Discovery Summit top 10 finalist, installation milestone

• At the 2024 Agri Water Innovation Discovery Summit, Moleaer Inc. was named a top 10 finalist for the potential positive impact of its innovative nanobubble technology on various areas in agriculture.
• Royal Brinkman sold their 200th nanobubble generator from our portfolio company Moleaer.

Read more about Royal Brinkman's 200th installation here, and about the Agri Water Innovation Discovery Summit here.

Insight M: reducing Permian methane emissions

• Insight M's work with bpx Energy helped in tracking and reducing its emissions in Permian from 2.5% to 0.9%. Craig McMillin , bpx Energy’s VP HSE and Carbon, noted Insight M’s “critical role” in the reduction.
• In partnership with S&P Global, Insight M helped reduce methane emissions in the Permian Basin by 26% in 2023 compared to the 2022 benchmark. The decline in overall methane intensity was even more pronounced, tipping past 30%.

Watch a short video on the bpx project here.

Pellucere Technologies: Women in Sustainable Energy Awards

• Carol Rogers , Product Development Engineer at Pellucere Technologies? , was honored at the Women in Sustainable Energy Awards for her work in developing a groundbreaking water-based anti-reflective coating (ARC) that enhances the efficiency of existing solar panels by up to 3.8%.

Read more about the Women in Sustainable Energy Awards here.

Salient: NOAA and NSF grants

• Salient, which EIC Rose Rock invested in last year, was awarded NOAA and NSF SBIR grants, enabling it to push forward in researching water availability and extreme temperature forecasting.

Read more about the grants here.

Xpansiv: COP29 panel, Synechron podcast feature

• Xpansiv's CEO John Melby took part, among other things, in a MIGA- and International Air Transport Association (IATA)-hosted panel on how World Bank guarantees can support CORSIA (the Carbon Offsetting and Reduction Scheme for International Aviation).
• Xpansiv’s CTO, Seshadri Sundaram , appeared on Synechron’s State of Tech podcast for a fascinating short discussion about the role of AI in tackling climate change.

Read more about Xpansiv at COP29 here, and listen to State of Tech here.

Aurora Hydrogen: Emissions Reduction Alberta (ERA) visit, Discourse Magazine feature

• ERA CEO Justin Riemer and other members of the ERA team visited Aurora’s Ft. Saskatchewan site, and noted the organization’s support for “this innovative process that uses existing energy infrastructure and proven technology to produce low-carbon hydrogen fuel on site.”
• Aurora’s CEO, Andrew Gillis , was quoted in a Discourse Magazine article, The Key to a Hydrogen Economy is in the Hands of Entrepreneurs, explaining the company’s “turquoise” hydrogen approach.

Read more about the ERA visit here.

Stay tuned for our next roundup as we continue to support our innovators in transforming the future of energy and climate solutions. In the meantime, as 2024 draws to a close, we hope you can take some time to recharge and reflect on the year. Wishing you a restful end to the festive season, and a successful start to 2025.