WAVE Equity Partners

Wave Equity Fund is a Boston-based investment firm established in 2012 that focuses on early-stage venture capital in the United States. The firm specializes in series B and series C investments, primarily targeting companies within the clean energy, food, utility, air, water, advanced materials, and recycling sectors. Wave Equity Fund seeks to invest in businesses that possess strong intellectual property, fully commercialized products, and a sustainable competitive advantage, aiming for growth rates of 50-100% annually. As often the largest institutional shareholder, Wave collaborates closely with company founders to accelerate their growth and enhance value while maintaining cost efficiency.

U. Haskell Crocker

Founder and Managing Director

Thomas Massie

Senior Operating Partner

Kelly Moulton

Principal and Head of Capital Formation

Mark Nydam

Operating Partner

Matthew Polimeno

Operating Partner

Mark Robinson

Co-Founder and Managing Director

Praveen Sahay

Co-Founder and Managing Director

Bob Wolfe

CFO / CCO

18 past transactions

Carbon Clean

Series C in 2022
Carbon Clean Solutions Pvt. Ltd. specializes in carbon dioxide (CO2) separation technology aimed at reducing emissions from industrial applications, particularly in sectors such as power generation, steel, cement, and chemicals. Founded in 2009 and based in Mumbai, India, the company has research and operational facilities in the United Kingdom and the United States. Its proprietary technologies include CDRMax, which recovers CO2 from flue gases in the fertilizer industry, and Meth Pure, designed for biogas purification without methane loss. Additionally, CCS TGR technology targets CO2 emissions from iron production processes. The firm’s advanced, energy-efficient carbon capture systems can be integrated into new power plants or retrofitted to existing facilities, allowing for the extraction of up to 90% of CO2 from flue gases. By providing scalable and cost-effective solutions, Carbon Clean Solutions helps industries decarbonize and take advantage of the value of captured carbon.

Novolyze

Series A in 2022
Novolyze, SAS is a French company that specializes in food safety solutions for the global food processing industry. Established in 2012 and headquartered in Daix, with an additional office in Cambridge, Massachusetts, Novolyze provides a comprehensive range of equipment, including steam pasteurizers, sterilizers, dryers, roasters, extruders, and ovens. The company is also known for its innovative surrogate microorganisms technology, which allows food manufacturers to test the effectiveness of microbial kill steps under real-life conditions. In addition to its equipment offerings, Novolyze provides services in pasteurization, regulatory compliance, and process validation, as well as food microbiology research to a diverse clientele that includes large corporations, small and medium enterprises, public and private research laboratories, and food processing associations. With a strong emphasis on enhancing food safety and quality, Novolyze employs a team of experts, including food microbiologists and process engineers, and operates state-of-the-art facilities in a pharmaceutical-grade environment for research and development.

Carbon Clean

Series B in 2021
Carbon Clean Solutions Pvt. Ltd. specializes in carbon dioxide (CO2) separation technology aimed at reducing emissions from industrial applications, particularly in sectors such as power generation, steel, cement, and chemicals. Founded in 2009 and based in Mumbai, India, the company has research and operational facilities in the United Kingdom and the United States. Its proprietary technologies include CDRMax, which recovers CO2 from flue gases in the fertilizer industry, and Meth Pure, designed for biogas purification without methane loss. Additionally, CCS TGR technology targets CO2 emissions from iron production processes. The firm’s advanced, energy-efficient carbon capture systems can be integrated into new power plants or retrofitted to existing facilities, allowing for the extraction of up to 90% of CO2 from flue gases. By providing scalable and cost-effective solutions, Carbon Clean Solutions helps industries decarbonize and take advantage of the value of captured carbon.

Chasm

Series C in 2021
Chasm Advanced Materials, Inc. manufactures and sells single-wall and few-wall carbon nanotube materials. The company’s products are used in touch sensors and smart surfaces, RF shielding, printed antennas and IOT/DAS, electrochemical sensors, transparent heaters, LED lighting technology, and batteries. It serves mobile devices, transportation electronics, appliances and small electrics, interactive display and signage, and energy storage markets, as well as environmental, health, and safety markets. Chasm Advanced Materials, Inc. was incorporated in 2015 and is based in Canton, Massachusetts.

Factorial Energy

Series A in 2021
Manufacturer of nano-engineered batteries designed for electric vehicles, homes, and critical applications. The company's batteries increase energy density and improve capacity, have an extended life, and recharge faster than any other existing material, enabling battery manufacturers to use materials that are more environmentally friendly, safer, and less expensive.

Micatu

Private Equity Round in 2021
Micatu is a next-generation optical sensing solution provider for the measurement of voltage, current, vibration, and temperature. Our solutions provide the highest data fidelity, accuracy, precision, and next-level harmonics measurements. Micatu’s GridView utility platform solution enables lower-cost deployments, maximizes integration of renewable energy, and increases data awareness for grid resilience.

AeroSafe Global

Private Equity Round in 2020
AeroSafe Global specializes in the development and production of aerogels and related materials designed for temperature-sensitive shipping needs. Operating primarily in the United States, the company addresses thermal insulation requirements for transporting biomedical, pharmaceutical, and other temperature-sensitive products. AeroSafe Global offers cold-chain services tailored for the biopharma industry, ensuring zero temperature excursions for clients and their products. Through proprietary packaging, logistics, and operational services, the company creates customized solutions that guarantee the safe delivery of sensitive biopharmaceuticals. Founded in 1995 and headquartered in Rochester, New York, AeroSafe Global also maintains additional offices in Kentucky, Nevada, Germany, and Canada.

Carbon Clean

Series B in 2020
Carbon Clean Solutions Pvt. Ltd. specializes in carbon dioxide (CO2) separation technology aimed at reducing emissions from industrial applications, particularly in sectors such as power generation, steel, cement, and chemicals. Founded in 2009 and based in Mumbai, India, the company has research and operational facilities in the United Kingdom and the United States. Its proprietary technologies include CDRMax, which recovers CO2 from flue gases in the fertilizer industry, and Meth Pure, designed for biogas purification without methane loss. Additionally, CCS TGR technology targets CO2 emissions from iron production processes. The firm’s advanced, energy-efficient carbon capture systems can be integrated into new power plants or retrofitted to existing facilities, allowing for the extraction of up to 90% of CO2 from flue gases. By providing scalable and cost-effective solutions, Carbon Clean Solutions helps industries decarbonize and take advantage of the value of captured carbon.

Carbon Clean

Series B in 2020
Carbon Clean Solutions Pvt. Ltd. specializes in carbon dioxide (CO2) separation technology aimed at reducing emissions from industrial applications, particularly in sectors such as power generation, steel, cement, and chemicals. Founded in 2009 and based in Mumbai, India, the company has research and operational facilities in the United Kingdom and the United States. Its proprietary technologies include CDRMax, which recovers CO2 from flue gases in the fertilizer industry, and Meth Pure, designed for biogas purification without methane loss. Additionally, CCS TGR technology targets CO2 emissions from iron production processes. The firm’s advanced, energy-efficient carbon capture systems can be integrated into new power plants or retrofitted to existing facilities, allowing for the extraction of up to 90% of CO2 from flue gases. By providing scalable and cost-effective solutions, Carbon Clean Solutions helps industries decarbonize and take advantage of the value of captured carbon.

WindESCo

Series B in 2020
Windesco is an energy company thadt psecializes in prioviding hardware and software solutions for wind-power assets. The company uses proprietary algorithms to optimize asset performance and extend asset life, providing a unique value proposition in the wind industry. Windesco was founded in 2014 and headquartered in Massachusetts, United States.

Gradiant

Venture Round in 2019
Operator of a water company intended for advanced water and wastewater treatment. The company's differentiated and proprietary technologies serve its clients' mission-critical operations and reduce their water footprint, including semiconductors, lithium and critical minerals, and renewable energy, enabling clients to reduce water and wastewater discharged, reclaim valuable resources, and renew wastewater to freshwater.

Chasm

Series A in 2018
Chasm Advanced Materials, Inc. manufactures and sells single-wall and few-wall carbon nanotube materials. The company’s products are used in touch sensors and smart surfaces, RF shielding, printed antennas and IOT/DAS, electrochemical sensors, transparent heaters, LED lighting technology, and batteries. It serves mobile devices, transportation electronics, appliances and small electrics, interactive display and signage, and energy storage markets, as well as environmental, health, and safety markets. Chasm Advanced Materials, Inc. was incorporated in 2015 and is based in Canton, Massachusetts.

Lionano

Series B in 2018
Lionano Inc. is a battery technology company based in Woburn, Massachusetts, that specializes in the research, development, and commercialization of advanced materials for lithium-ion batteries. Founded in 2013, Lionano has developed a drop-in replacement material that has been nano-engineered to enhance the capacity and cycle life of batteries. This innovative technology aims to improve key components of lithium-ion batteries, leading to lighter and more cost-effective solutions for consumer electronics and extended range for electric vehicles. The company’s technology has been fully developed at Cornell University, and its leadership team includes experts from diverse backgrounds in chemistry, business, and electrochemistry research, positioning Lionano for a successful product launch.

Living Greens Farm

Venture Round in 2018
Living Greens Farm, Inc. is a Minnesota-based company that specializes in aeroponic farming, focusing on the sustainable production of high-quality fresh lettuce, herbs, and microgreens. Established in 2011, the company utilizes an innovative vertical farming system that allows plants to receive optimal oxygen levels while minimizing the risk of pathogens through a downward water delivery method. This approach not only promotes pesticide-free growth but also conserves land and water resources compared to traditional farming practices. Living Greens Farm sources distressed urban properties for conversion into urban farms, enabling efficient local production and distribution. The company partners with both regional and national wholesale and retail distributors to deliver fresh produce year-round, ensuring customers receive premium products with exceptional flavor and texture.

Lionano

Series A in 2017
Lionano Inc. is a battery technology company based in Woburn, Massachusetts, that specializes in the research, development, and commercialization of advanced materials for lithium-ion batteries. Founded in 2013, Lionano has developed a drop-in replacement material that has been nano-engineered to enhance the capacity and cycle life of batteries. This innovative technology aims to improve key components of lithium-ion batteries, leading to lighter and more cost-effective solutions for consumer electronics and extended range for electric vehicles. The company’s technology has been fully developed at Cornell University, and its leadership team includes experts from diverse backgrounds in chemistry, business, and electrochemistry research, positioning Lionano for a successful product launch.

Intellihot

Venture Round in 2017
Intellihot Green Technologies Inc. specializes in designing, manufacturing, and assembling tankless water heater systems for both residential and commercial uses across the United States. Founded in 2005 and based in Galesburg, Illinois, the company offers a range of models suitable for various sectors, including hospitality, healthcare, education, and retail. Intellihot's innovative systems are notable for their space-saving design, eliminating the need for traditional storage tanks, and they incorporate advanced technology such as Wi-Fi and 3G/4G connectivity to monitor water usage patterns. This functionality enables clients to enjoy on-demand water heating while optimizing energy efficiency. The company serves its customers through a network of sales representatives, dealers, and wholesalers, and its commitment to innovation is reflected in several patents pending for its technology.

Heatworks

Series A in 2016
Heatworks Technologies, Inc. is a manufacturer of innovative heating solutions for residential applications in the United States, headquartered in Mount Pleasant, South Carolina. The company produces a range of products, including a tankless electric water heater known as Model 3, a countertop dishwasher called Tetra, and a battery-operated hot water system named Duo Carafe. Utilizing its patented Ohmic Array Technology, Heatworks efficiently heats water by harnessing its natural conductivity, resulting in purer hot water free from sediment. The company's products are sold online and aim to enhance energy and water conservation, while also integrating smart technology that allows users to monitor their consumption. Founded in 2006, Heatworks is dedicated to transforming the way water is heated, providing sustainable solutions for households.
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