Equinor is a Norway-based integrated energy company, established in 1972, that engages in the exploration, development, and production of oil and gas, as well as renewable energy sources like wind and solar power. It operates globally, with a significant presence on the Norwegian Continental Shelf, and produces a substantial amount of oil and gas, including refined products such as petrol, diesel, and natural gas. Additionally, Equinor invests in innovative companies through its venture capital arm, Equinor Ventures, focusing on energy, technology, and climate solutions, with a preference for minority stakes and a typical investment range of $1 million to $20 million.
ElectronX is a developer of an electricity exchange platform designed to facilitate the transition of the U.S. grid to renewable energy sources. As demand for electricity grows and the grid increasingly incorporates intermittent renewable resources, the company aims to support power providers, consumers, and industry innovators in navigating the complexities of the modern power market. ElectronX's platform enables participants to hedge risks associated with volatile short-term electricity prices and to monetize their power assets effectively. By smoothing the financial pathways for the adoption of renewables, ElectronX plays a crucial role in advancing the clean energy transition.
eSmart Systems
Venture Round in 2024
eSmart Systems AS specializes in developing intelligent software solutions for the energy sector, focusing on smart grid technologies. Founded in 2012 and headquartered in Halden, Norway, with an office in Palo Alto, California, the company leverages over 20 years of industry experience to offer cloud-based platforms that utilize the Internet of Things, Big Data, and advanced analytics. Their operational intelligence software optimizes energy investments, enhances energy efficiency, and reduces carbon footprints through informed decision-making. eSmart Systems provides a comprehensive suite of products, including connected grid solutions and tailored applications for utilities and consumers, enabling real-time data collection and analysis from various sources such as sensors and building automation systems. The company aims to improve asset management and operational efficiency for energy grid operators, ultimately lowering maintenance costs and extending the lifespan of critical infrastructure.
Sapphire Technologies
Series B in 2023
Sapphire Technologies specializes in the development, manufacturing, and sale of energy recovery systems for industrial and commercial applications involving natural gas and hydrogen. The company’s innovative systems are engineered to convert waste energy generated during pressure reduction processes into electric power, all while ensuring that manufacturing and processing activities remain uninterrupted. By enabling businesses to recover this otherwise wasted pressure energy, Sapphire Technologies assists in maximizing plant efficiencies, enhancing productivity, and reducing carbon emissions. Additionally, their solutions help offset electrical costs and create cash flow opportunities for companies, contributing to more sustainable operations in the energy sector.
Rio Energy
Acquisition in 2023
Rio Energy is an environmental firm engaged in the renewable energy sector, specializing in the development, construction, and operation of power generation platforms. The company focuses on renewable energy projects, offering integrated capabilities that enhance project efficiency and functionality. By combining insights, services, and technology, Rio Energy aims to ensure the successful delivery and operation of its energy solutions.
Suncor Energy
Acquisition in 2023
Suncor Energy Inc. is an integrated energy company based in Calgary, Canada, primarily focused on the development of petroleum resource basins in the Athabasca oil sands, one of the largest oil reserves globally. The company engages in the exploration, production, and marketing of crude oil both in Canada and internationally. Its operations are divided into several segments, including Oil Sands, which involves the recovery and upgrading of bitumen; Exploration and Production, which includes offshore activities in Canada and international assets; and Refining and Marketing, where crude oil is refined into various petroleum products marketed through its Petro-Canada retail network. Additionally, Suncor is committed to advancing the transition to a low-emissions future by investing in renewable energy sources and power generation, while also participating in energy trading activities related to crude oil and natural gas. Founded in 1917, Suncor has established itself as a significant player in the global energy market.
Danske Commodities
Corporate Round in 2022
Danske Commodities A/S is an independent energy trading house based in Aarhus, Denmark, with additional offices in Hamburg, Istanbul, and London. Established in 2004, the company specializes in trading power and gas across borders, offering a range of services tailored to renewable energy producers, conventional asset operators, and energy suppliers. Its services include production management, balancing, market monitoring, optimization of heat and power, as well as trading and risk management solutions. Danske Commodities operates a trading platform that connects producers, suppliers, and consumers to wholesale energy markets, allowing for rapid responses to the dynamic energy landscape. The company serves clients in 39 countries, leveraging its market knowledge and continuous trading operations to create commercial opportunities in the energy sector. Since February 2019, Danske Commodities has operated as a subsidiary of Equinor ASA.
Syzygy Plasmonics
Series C in 2022
Syzygy Plasmonics, Inc. is a Houston-based company that designs, develops, and manufactures photocatalytic reactor systems for industrial chemical reactions. Founded in 2017, the company focuses on creating reactors capable of generating fuel cell quality hydrogen from ammonia, making them suitable for small-to-medium-scale applications and hydrogen refueling stations for fuel cell vehicles. Unlike conventional chemical reactors, Syzygy's technology operates using light as an energy source and at temperatures over 1,000°F lower, which significantly reduces maintenance costs and allows for rapid production start-stop capabilities. This innovative approach not only enhances efficiency but also supports the decarbonization of hard-to-abate industries by enabling the use of renewable electricity and minimizing reliance on fossil fuels.
eSmart Systems
Series B in 2022
eSmart Systems AS specializes in developing intelligent software solutions for the energy sector, focusing on smart grid technologies. Founded in 2012 and headquartered in Halden, Norway, with an office in Palo Alto, California, the company leverages over 20 years of industry experience to offer cloud-based platforms that utilize the Internet of Things, Big Data, and advanced analytics. Their operational intelligence software optimizes energy investments, enhances energy efficiency, and reduces carbon footprints through informed decision-making. eSmart Systems provides a comprehensive suite of products, including connected grid solutions and tailored applications for utilities and consumers, enabling real-time data collection and analysis from various sources such as sensors and building automation systems. The company aims to improve asset management and operational efficiency for energy grid operators, ultimately lowering maintenance costs and extending the lifespan of critical infrastructure.
Elestor
Venture Round in 2022
Elestor BV, founded in 2014 by Wiebrand Kout and headquartered in Arnhem, Netherlands, specializes in energy storage solutions aimed at facilitating the economical use of self-generated renewable electricity on a large scale. The company has developed a system that can be integrated with hydrogen infrastructures and electrolyzers, significantly reducing the costs associated with green hydrogen production. By offering cost-effective electricity storage technology, Elestor enables its clients to minimize their electricity storage expenses, thereby enhancing the viability of renewable energy sources.
Electric Hydrogen
Series B in 2022
Electric Hydrogen is a company focused on developing low-cost, high-efficiency, fossil-free hydrogen systems aimed at decarbonizing industrial sectors such as ammonia and steel production, which are significant contributors to global greenhouse gas emissions. By rethinking electrolysis, Electric Hydrogen seeks to make clean hydrogen competitive with traditional, fossil-fuel-based hydrogen in terms of cost and scalability. The company's advanced PEM technology utilizes low-cost renewable electricity to produce clean hydrogen gas, thereby helping industries reduce their reliance on fossil fuels and minimize pollution. With a leadership team experienced in transformative clean energy companies, Electric Hydrogen is positioned to address current challenges in efficiency and cost, contributing to the goal of a zero-emission industrial sector in the near future.
Noriker Power
Venture Round in 2021
Noriker Power builds and operates a portfolio of energy assets, developing projects from origination through to delivering grid services. They provide project development, asset optimization, control systems & integration, and data services.
Sapphire Technologies
Series A in 2021
Sapphire Technologies specializes in the development, manufacturing, and sale of energy recovery systems for industrial and commercial applications involving natural gas and hydrogen. The company’s innovative systems are engineered to convert waste energy generated during pressure reduction processes into electric power, all while ensuring that manufacturing and processing activities remain uninterrupted. By enabling businesses to recover this otherwise wasted pressure energy, Sapphire Technologies assists in maximizing plant efficiencies, enhancing productivity, and reducing carbon emissions. Additionally, their solutions help offset electrical costs and create cash flow opportunities for companies, contributing to more sustainable operations in the energy sector.
LevelTen Energy
Series C in 2021
LevelTen Energy, Inc. is a Seattle-based company founded in 2016 that operates a renewable energy transaction marketplace. This platform serves to connect corporate and industrial power buyers with power purchase agreements (PPAs) from utility-scale wind, solar, and storage projects. By facilitating access to a wide range of renewable energy options, LevelTen Energy enables clients to secure fixed-price renewable energy solutions and benefit economically from large-scale projects. The company's technology-driven marketplace enhances the efficiency of transactions, allowing buyers, advisors, and sellers to achieve better deals in a streamlined manner. Through its services, LevelTen Energy plays a significant role in advancing the adoption of renewable energy in the corporate sector.
Mainspring
Series D in 2021
Mainspring Energy, Inc. is a company based in Menlo Park, California, focused on developing linear generator technology that produces low-carbon, dispatchable energy. Founded in 2010 by three Stanford engineers, Mainspring aims to address the challenges of climate change while providing affordable electricity. The company engineers advanced prototypes of linear generators that convert fuel into electricity through a low-temperature reaction of air and fuel, driving magnets through copper coils. This innovative approach allows Mainspring to offer electricity at lower costs and with greater reliability, contributing to the vision of creating net-zero carbon grids in the future.
Syzygy Plasmonics
Series B in 2021
Syzygy Plasmonics, Inc. is a Houston-based company that designs, develops, and manufactures photocatalytic reactor systems for industrial chemical reactions. Founded in 2017, the company focuses on creating reactors capable of generating fuel cell quality hydrogen from ammonia, making them suitable for small-to-medium-scale applications and hydrogen refueling stations for fuel cell vehicles. Unlike conventional chemical reactors, Syzygy's technology operates using light as an energy source and at temperatures over 1,000°F lower, which significantly reduces maintenance costs and allows for rapid production start-stop capabilities. This innovative approach not only enhances efficiency but also supports the decarbonization of hard-to-abate industries by enabling the use of renewable electricity and minimizing reliance on fossil fuels.
Commonwealth Fusion Systems
Series A in 2020
Commonwealth Fusion Systems LLC is a research and development company focused on advancing fusion energy technology to provide an inexhaustible power source. Established in 2017 and based in Cambridge, Massachusetts, the company utilizes rare-earth barium copper oxide superconductor technology to create fusion energy systems. Commonwealth Fusion Systems was spun out of the Massachusetts Institute of Technology (MIT) and collaborates with MIT’s Plasma Science and Fusion Center to leverage decades of government-funded fusion research. By integrating established physics with innovative magnet technology, the company aims to accelerate the commercialization of fusion energy, positioning itself as a key player in the transition to clean and renewable energy sources while addressing climate change challenges.
eSmart Systems
Venture Round in 2019
eSmart Systems AS specializes in developing intelligent software solutions for the energy sector, focusing on smart grid technologies. Founded in 2012 and headquartered in Halden, Norway, with an office in Palo Alto, California, the company leverages over 20 years of industry experience to offer cloud-based platforms that utilize the Internet of Things, Big Data, and advanced analytics. Their operational intelligence software optimizes energy investments, enhances energy efficiency, and reduces carbon footprints through informed decision-making. eSmart Systems provides a comprehensive suite of products, including connected grid solutions and tailored applications for utilities and consumers, enabling real-time data collection and analysis from various sources such as sensors and building automation systems. The company aims to improve asset management and operational efficiency for energy grid operators, ultimately lowering maintenance costs and extending the lifespan of critical infrastructure.
Reactive Technologies
Series C in 2019
Reactive Technologies LTD is an energy technology company based in London, United Kingdom, focused on facilitating the transition to clean energy through innovative solutions for grid operators, electric utilities, and renewable asset owners. The company offers a range of advanced technologies, including GridMetrix, which provides real-time inertia measurements for transmission system operators, and GridMetrix for distribution network operators, which measures system strength and helps manage constraints. Its Tradenergy platform enhances forecasting, risk management, and optimization for energy flexibility, while the Dynamic PPA feature allows generators to capitalize on market opportunities and mitigate price risks. Reactive Technologies is recognized for its groundbreaking Grid-Sonar™ technology, which delivers precise data on grid operations, thereby improving planning and maximizing electricity supply utilization. Established in 2010, the company has expanded its reach internationally, with commercial offices in the UK, USA, and Australia, and an R&D center in Finland.
Yellow Door Energy
Series A in 2019
Yellow Door Energy is a sustainable solar energy company based in Dubai, United Arab Emirates, with an additional location in Amman, Jordan. Founded in 2015, the company specializes in providing solar energy solutions for commercial and industrial customers throughout the Middle East and Africa. Yellow Door Energy handles all aspects of solar plant development, including financing, design, construction, operation, and maintenance. Clients benefit from a solar leasing model, allowing them to pay a monthly bill based on their solar energy usage, which enables them to focus on their core business while utilizing renewable energy. With a goal to develop over 1 GW of distributed solar and energy solutions, Yellow Door Energy emphasizes its commitment to sustainability and the promotion of renewable energy in the region.
Scatec ASA
Post in 2018
Scatec ASA is an integrated independent solar power producer based in Oslo, Norway. Founded in 2007, the company specializes in the design, development, financing, engineering, procurement, construction management, ownership, operation, and maintenance of solar photovoltaic power plants. Scatec operates through three segments: Power Production, Services, and Development and Construction. With a portfolio of 1.9 GW in operation and under construction, Scatec's projects are located in various countries, including Argentina, Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa, and Ukraine. The company aims to deliver affordable and sustainable clean energy solutions globally. Scatec changed its name from Scatec Solar ASA in November 2020 to reflect its broader focus and capabilities in the renewable energy sector.
Danske Commodities
Acquisition in 2018
Danske Commodities A/S is an independent energy trading house based in Aarhus, Denmark, with additional offices in Hamburg, Istanbul, and London. Established in 2004, the company specializes in trading power and gas across borders, offering a range of services tailored to renewable energy producers, conventional asset operators, and energy suppliers. Its services include production management, balancing, market monitoring, optimization of heat and power, as well as trading and risk management solutions. Danske Commodities operates a trading platform that connects producers, suppliers, and consumers to wholesale energy markets, allowing for rapid responses to the dynamic energy landscape. The company serves clients in 39 countries, leveraging its market knowledge and continuous trading operations to create commercial opportunities in the energy sector. Since February 2019, Danske Commodities has operated as a subsidiary of Equinor ASA.
Upwing Energy
Venture Round in 2018
Upwing Energy, Inc. specializes in artificial lift technology designed to enhance gas production in both conventional and unconventional wells. The company offers innovative solutions, including the Upwing Subsurface Compressor Systems, which improve gas well performance by allowing higher drawdown and increasing recoverable reserves while reducing energy consumption. Its magnetic drive system leverages advanced magnetic technologies to drive and levitate the rotor within a retrievable string, eliminating the need for mechanical or electrical connections to enhance oil production. Upwing Energy's products are applicable in both onshore and offshore subsea wells. Founded in 2015 and headquartered in Cerritos, California, Upwing Energy operates as a subsidiary of Calnetix Technologies, LLC. The company's mission is to maximize production and recovery rates for natural gas resources globally, ultimately increasing its customers' economic returns on production assets.
Mainspring
Series C in 2018
Mainspring Energy, Inc. is a company based in Menlo Park, California, focused on developing linear generator technology that produces low-carbon, dispatchable energy. Founded in 2010 by three Stanford engineers, Mainspring aims to address the challenges of climate change while providing affordable electricity. The company engineers advanced prototypes of linear generators that convert fuel into electricity through a low-temperature reaction of air and fuel, driving magnets through copper coils. This innovative approach allows Mainspring to offer electricity at lower costs and with greater reliability, contributing to the vision of creating net-zero carbon grids in the future.
The Carbon Trust
Venture Round in 2016
Carbon Trust, founded in 2001 and based in London, is dedicated to fostering a sustainable, low-carbon economy by assisting businesses, governments, and organizations worldwide in reducing carbon emissions and enhancing resource efficiency. With a team of over 200 experts in sustainability, including engineers and policy specialists, Carbon Trust leverages nearly two decades of experience in the climate change sector. The organization collaborates with various stakeholders to provide strategic direction, carbon reduction plans, and energy systems solutions. Its focus areas include corporate sustainability, green finance, and future energy systems, with particular emphasis on offshore wind and net-zero initiatives. Additionally, Carbon Trust supports cities, states, and regions in addressing the climate emergency, reinforcing its commitment to a sustainable future. Surpluses from its commercial activities are reinvested into these initiatives, ensuring a continuous drive towards its mission.
United Wind
Series B in 2016
United Wind, Inc. is a Brooklyn-based company that specializes in providing distributed-scale wind energy solutions through its WindLease program. Founded in 2007 and originally known as Wind Analytics, LLC, the company offers affordable leasing options for small-scale wind turbines, allowing customers in agricultural, residential, commercial, and educational sectors to harness wind energy without the burden of upfront costs. United Wind manages all aspects of the process, including financing, permitting, installation, and maintenance, ensuring a seamless transition to renewable energy. Their WindSight tool helps assess wind potential at specific locations, guiding customers in selecting the most suitable turbine. By offering cost-effective solutions, United Wind enables property owners and mid-sized businesses to reduce electricity expenses and protect against rising energy prices while contributing to a cleaner environment.
Corvus Energy
Corporate Round in 2015
Corvus Energy Ltd. is a Canadian company specializing in the research, development, manufacture, and supply of energy storage solutions for the marine, oil and gas, and port sectors. Established in 2009 and headquartered in Richmond, the company focuses on delivering advanced lithium-ion battery technologies that create modular energy storage systems. These systems are designed to offer consistent and economical power for hybrid and all-electric maritime applications, including cruise ships, ferries, offshore vessels, and heavy industrial machinery. In addition to its energy storage products, Corvus Energy provides a range of services such as technical support, spare parts, extended warranties, field service, and training. The company's innovative solutions are recognized for enhancing operational efficiency and promoting clean energy leadership in the industry.
Quantico Energy Solutions
Series A in 2015
Quantico Energy Solutions LLC, based in Houston, Texas, specializes in providing data analytics solutions tailored for the oil and gas industry, particularly in the development of shale resources. Founded in 2012, the company develops proprietary software designed to predict synthetic formation evaluation logs using data typically gathered during the drilling process. Its flagship products include QLog, which offers a suite of synthetic logs for horizontal and vertical wells, and QFrac, which provides additional logs along with recommendations for engineered completion designs based on geomechanical property interpretations. By employing a team of experts in machine learning, petrophysics, and completion engineering, Quantico Energy Solutions aims to enhance the quality and efficiency of data analytics for drilling companies, leveraging artificial intelligence to integrate seismic and well-log data for better predictive outcomes. The company also maintains a strategic alliance with TARGET to further its capabilities in the industry.
Danotek Motion Technologies
Series B in 2011
Danotek Motion Technologies Inc, founded in 2001, in Ann Arbor, Michigan is an ISO 9001:2000 certified technology innovator. Danotek develops clean, energy efficient, generators, electrical conversion systems, brushless motors and electronics controls for alternative energy and advanced transportation applications. Danotek has developed a number of patent-pending innovative products that include variable speed permanent magnet (PM) generators and brushless motors with integrated electronics for wind power, fuel cell, CHP, auxiliary power and electric and hybrid electric vehicles. Their designs represent industry leadership and are expected to replace inefficient and unreliable systems with added extensive control features.
Danotek Motion Technologies
Series A in 2008
Danotek Motion Technologies Inc, founded in 2001, in Ann Arbor, Michigan is an ISO 9001:2000 certified technology innovator. Danotek develops clean, energy efficient, generators, electrical conversion systems, brushless motors and electronics controls for alternative energy and advanced transportation applications. Danotek has developed a number of patent-pending innovative products that include variable speed permanent magnet (PM) generators and brushless motors with integrated electronics for wind power, fuel cell, CHP, auxiliary power and electric and hybrid electric vehicles. Their designs represent industry leadership and are expected to replace inefficient and unreliable systems with added extensive control features.
BrightSource
Series C in 2008
BrightSource Energy, Inc. is a solar thermal technology company based in Oakland, California, that specializes in designing, developing, and selling proprietary systems for utility-scale electric power plants. The company utilizes fields of tracking mirrors, known as heliostats, alongside its proprietary software to concentrate sunlight onto a solar receiver/boiler unit, generating high-temperature steam. This steam can be used to produce electricity through conventional steam turbines or for industrial applications like thermal enhanced oil recovery. BrightSource also offers comprehensive project development services, including site acquisition, permitting, and securing power purchase agreements, while serving utility-scale solar thermal power project owners and contractors, as well as oil production companies. The firm has established strategic relationships with prominent partners in the energy sector, emphasizing its commitment to providing low-cost, reliable clean energy that competes with fossil fuels.
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