Over $680 million raised in May by cleantech companies Gradiant, The Kensa Group, Kyoto Fusioneering, Redaptive and CleanJoule
Gradiant Raises $225 Million to Accelerate Business Expansion
Gradiant, a US-based international provider of advanced water and wastewater treatment solutions, has secured $225 million in the first close of its Series D funding round. The investment was led by BoltRock Holdings and Centaurus Capital, propelling Gradiant's total funding to over $400 million and its valuation to $1 billion.
With a reputation for its rapid growth in the water industry, Gradient aims to become the preferred water partner for essential industries worldwide, and intends to use the funding to expand into strategic markets and new geographies, including the Middle East and Europe. The company aims to become the preferred water partner for essential industries worldwide and will also allocate resources to its research and development initiatives.?
Gradiant offers comprehensive water treatment solutions to key sectors such as semiconductors, pharmaceuticals, food & beverage, lithium, critical minerals, and renewable energy. Its proprietary technologies and digital solutions optimise water usage, recover valuable resources and transform wastewater into freshwater. Notable customers include Micron, TSMC, GSK, Pfizer, SLB, Rio Tinto, AB InBev and Coca-Cola.?
The investment demonstrates confidence in Gradiant's ability to address water challenges while minimising the environmental impact of industrial processes. BoltRock Holdings and Centaurus Capital bring long-term capital and expertise to support Gradiant's growth. The firm’s board will also welcome representatives from BoltRock and General Innovation Capital. https://bit.ly/42Wfh9v ?
Octopus Energy and Legal & General Invest in Ground Source Heat Pumps
The Kensa Group, a leading manufacturer and installer of ground source heat pumps in the United Kingdom, has secured over $80 million from the generation arm of Octopus Energy and Legal & General Capital. This investment represents the first deal from Octopus Energy's Octopus Energy Transition Fund and demonstrates Legal & General Capital's commitment to scaling innovative businesses that reduce emissions.
Notably, this is the country's largest investment in ground source technology, enabling Kensa to rapidly expand its operations with the aim to install 50,000 ground source heat pumps per year by 2030. The investment is a step towards replacing polluting gas boilers with heat pumps and supports the national government’s target of enhancing the domestic heat pump industry. Ground source heat pumps harness heat energy from the ground or water and are recognised as a key solution for reducing heating emissions.?
The funding will make heat pumps more accessible – including? retrofits in social housing and non-domestic buildings – and support Kensa's Networked Heat Pumps solution. The investment will create over 7,000 green jobs in the United Kingdom by 2030. ?https://bit.ly/3MNo2wQ ??
Kyoto Fusioneering Raises $79 Million for Nuclear Fusion Development
Kyoto Fusioneering, a Japan-based nuclear fusion startup, has raised $79 million in an oversubscribed Series C funding round. ?Existing investor JIC Venture Growth Investments led the round, with the involvement of 17 investors – 11 of which are new participants – that included Mitsubishi Corporation, Mitsubishi UFJ Capital, SMBC Venture Capital, JPOWER, DBJ Capital, Coral Capital and Sumitomo Mitsui Trust.?
With fusion technology as a transformative solution for sustainable energy, Kyoto Fusioneering intends to utilise the funding to invest in research and development for its fusion power plant. Anjali Ghodvaidya at Deal Street Asia reports that the firm plans to expand its commercial and technical operations globally, mainly through its subsidiaries in the United States of America and the United Kingdom.?
Kyoto Fusioneering specialises in developing technologies for commercial fusion reactors, including gyrotron systems, tritium fuel cycle technologies and breeding blankets for tritium production and power generation. This investment brings them closer to realising the potential of fusion energy as a clean and abundant power source for the future. https://bit.ly/3qrNUpi ?
Redaptive Secures Additional Investment for Energy-as-a-Service Solutions
A provider of Energy-as-a-Service solutions, Redaptive, has secured additional investment in its Series E funding round from long-term investor Linse Capital. This funding will support Redaptive's expansion plans and enable the company to serve more customers. The investment follows recent contributions from Canada Pension Plan Investment Board, Honeywell, CBRE and others. The Series E funding round brings the total raised to around $250 million.
Redaptive's offerings include data-driven energy generation and efficiency programs such as HVAC, LED lighting, solar, EV charging and utility upgrades for large sites or distributed real estate portfolios. The company's solutions aim to overcome financial and logistical barriers to energy efficiency and sustainability by funding upfront costs, providing turnkey implementation, and measuring results through smart metering.
The investment from Linse Capital will further accelerate Redaptive's growth and enable them to scale their Energy-as-a-Service and Data Solutions platform. Redaptive operates in the United States and serves a large addressable market globally. With this funding, they are well-positioned to continue driving the adoption of sustainable energy solutions. https://bit.ly/3VDPb8l ?
CleanJoule Receives $50 Million Investment to Accelerate Sustainable Aviation Fuel Production
CleanJoule, a US-based startup focused on Sustainable Aviation Fuel (SAF) production, has secured a $50 million investment round led by the principals of Indigo Partners, a private equity firm. The funding also included participation from GenZero – a decarbonisation-focused investment platform company of Temasek – and Cleanhill Partners, a private equity firm focused on decarbonisation.? Frontier Airlines, Wizz Air, and Volaris, also joined the investment round.
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CleanJoule will use the funds to develop its technology for producing high-performance SAF from agricultural residues and waste biomass. SAF is a biofuel with a lower carbon footprint that holds significant potential for reducing emissions in the aviation sector.?
The investing airlines have committed to purchasing up to 90 million gallons of SAF in line with the investment. CleanJoule aims to scale the supply of SAFs, promoting a greener aviation industry and contributing to reducing carbon emissions. This investment demonstrates the growing recognition and support for sustainable alternatives in aviation. https://bit.ly/3CbYgwj
Featured Innovator: 2030 Calculator?
Addressing the challenge of managing carbon footprints - one calculation at a time.?
Doconomy, a Swedish pioneer provider of impact solutions, aims to empower individuals and corporations to take responsibility for their environmental footprint and promote a sustainable lifestyle. Doconomy’s 2030 Calculator was deemed by Time as one of the best inventions of 2022, recognising the sustainable efforts of Doconomy and showcasing the company as a key player in addressing the climate crisis.
The 2030 Calculator is a convenient tool for product brands, manufacturers and individuals to determine the carbon footprint of their products, and has already been used by the likes of Patagonia and H&M. It considers emissions from manufacturing and transportation until the point of sale.?
The Calculator ensures comprehensive calculations by incorporating specific emission factors for each product component – such as material, packaging, transportation, and manufacturing energy. It empowers consumers and responsible brands to contribute to a sustainable future and business.
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The Endow Capital Team
Endow Capital meets the most pressing global development issues by matching innovative companies with impact capital, achieved by its corporate finance advisory and strategic consulting services. Find out more about our work .