MassVentures

MassVentures is a venture capital firm based in Waltham, Massachusetts, established in 1978 as a quasi-public corporation by the Massachusetts Legislature. The firm focuses on providing seed and early-stage funding to high-growth startups, facilitating their transition from concept to commercialization. MassVentures invests primarily in sectors such as information technology, healthcare, cybersecurity, e-commerce, mobile, manufacturing, and robotics. With a governance structure that includes an independent Board of Directors and management by experienced venture capitalists, MassVentures leverages the state's entrepreneurial spirit and innovation centers to support the Massachusetts innovation economy. The firm also offers accelerator programs to further assist emerging companies in their growth journey.

Charlie Hipwood

President and CEO

Charles Hipwood

Founder President and CEO

Vinit Nijhawan

Managing Director

Nicholas A. Pappas

Vice President

Stacy Swider

Vice President, Investments

Priya Yadav

Vice President, Investments

Past deals in Renewables

Electrified Thermal Solutions

Venture Round in 2024
Electrified Thermal Solutions is a company focused on decarbonizing industrial processes by replacing fossil fuels with renewable heat. Founded in 2021 and based in Medford, Massachusetts, the company originated from research conducted at MIT's Department of Nuclear Science and Engineering. Its innovative approach involves developing energy storage technology that converts intermittent renewable electricity into constant heat using low-cost conductive ceramic blocks. This technology enables various industrial sectors to utilize zero-carbon heat, contributing to a significant reduction in energy consumption's carbon footprint. Through its efforts, Electrified Thermal Solutions aims to facilitate an energy revolution that promotes sustainability in industrial applications.

Adden Energy

Series A in 2024
Adden Energy is a company focused on the development of lithium-metal, solid-state batteries that offer significant advantages for electric vehicles. Their innovative technology is capable of achieving charge times as short as three minutes and maintaining capacity for over 10,000 cycles in lab-scale cells. By advancing solid-state battery technology, Adden Energy aims to facilitate the widespread adoption of electric vehicles globally, thereby playing a crucial role in promoting a cleaner and more sustainable future.

AeroShield

Seed Round in 2024
AeroShield specializes in the production of a super-insulating, nanoporous glass material designed for energy-efficient windows. This innovative material, made from silica aerogel, provides optical clarity akin to traditional glass while delivering insulation performance that is 50% superior to standard windows. By integrating AeroShield's technology between two glass panes, manufacturers can significantly enhance the thermal efficiency of their products. Additionally, the payback period for AeroShield-enhanced windows is up to five times faster than that of comparable high-performance windows, making it an attractive option for both manufacturers and consumers. This focus on sustainability and energy efficiency supports industry compliance goals and improves overall product performance.

Electrified Thermal Solutions

Grant in 2024
Electrified Thermal Solutions is a company focused on decarbonizing industrial processes by replacing fossil fuels with renewable heat. Founded in 2021 and based in Medford, Massachusetts, the company originated from research conducted at MIT's Department of Nuclear Science and Engineering. Its innovative approach involves developing energy storage technology that converts intermittent renewable electricity into constant heat using low-cost conductive ceramic blocks. This technology enables various industrial sectors to utilize zero-carbon heat, contributing to a significant reduction in energy consumption's carbon footprint. Through its efforts, Electrified Thermal Solutions aims to facilitate an energy revolution that promotes sustainability in industrial applications.

Osmoses

Grant in 2024
Osmoses specializes in clean membrane technology aimed at decarbonizing gas separations, with a goal of eliminating one gigaton of carbon emissions annually. The company has developed advanced molecular filters that offer exceptional size selectivity, enabling the purification of hydrogen and natural gas. Additionally, these filters facilitate large-scale carbon capture, significantly transforming traditional chemical separation processes. By reducing energy consumption and carbon emissions in industrial operations, Osmoses provides a solution that helps businesses lower costs, minimize product loss, and create value for their clients, contributing to broader efforts in combating climate change.

Active Surfaces

Grant in 2023
Active Surfaces, a Massachusetts-based company, specializes in commercializing ultra-thin-film solar technology developed at MIT. Its core business involves creating flexible, lightweight solar panels that can be seamlessly integrated into everyday materials and surfaces, revolutionizing the conventional energy sector. The company's innovative manufacturing approach significantly reduces production costs, making solar power more accessible and affordable. This technology has the potential to transform semiconductor and electronics manufacturing, driving down costs for both module production and installation. By enabling virtually any surface to generate power, Active Surfaces aims to accelerate the transition to a cleaner, more sustainable future.

MacroCycle Technologies

Grant in 2023
MacroCycle Technologies is a company developing a chemical recycling process to convert polyethylene terephthalate (PET) and polyester-fiber waste into virgin-grade plastics. Their proprietary technology, based on synthesizing cyclic macromolecules, enables the production of recycled PET with lower energy use than traditional methods. This process offers a sustainable, zero-carbon, and cost-competitive solution for plastic upcycling, contributing to a circular economy.

Blaze Power

Grant in 2023
Blaze Power operates as a lithium-ion battery materials manufacturer. It innovates and commercializes iron-based cathode materials to enable mass-market electrification in transportation and energy storage. The company is driven to industrialize these cathodes in purpose-built inflation reduction act-compliant facilities.

River Otter Renewables

Grant in 2023
River Otter Renewables is a recycling comany that produced biocrude oil from plant and waste as well as sewage and plastic waste.

AeroShield

Convertible Note in 2023
AeroShield specializes in the production of a super-insulating, nanoporous glass material designed for energy-efficient windows. This innovative material, made from silica aerogel, provides optical clarity akin to traditional glass while delivering insulation performance that is 50% superior to standard windows. By integrating AeroShield's technology between two glass panes, manufacturers can significantly enhance the thermal efficiency of their products. Additionally, the payback period for AeroShield-enhanced windows is up to five times faster than that of comparable high-performance windows, making it an attractive option for both manufacturers and consumers. This focus on sustainability and energy efficiency supports industry compliance goals and improves overall product performance.

florrent

Pre Seed Round in 2023
Florrent is a bio-based materials and energy storage company focused on addressing key challenges in global decarbonization and the electrification of transportation and buildings. It specializes in the development of energy-density ultracapacitors made from sustainable hemp biomass sourced from a network of BIPOC farmers. These ultracapacitors enhance the stability of electrical grids and facilitate the integration of renewable energy sources, electric vehicles, and net-zero buildings. By enabling communities to locally generate, store, and utilize renewable power, Florrent contributes to the transition towards a resilient, renewable, and equitable energy economy.

Osmoses

Grant in 2023
Osmoses specializes in clean membrane technology aimed at decarbonizing gas separations, with a goal of eliminating one gigaton of carbon emissions annually. The company has developed advanced molecular filters that offer exceptional size selectivity, enabling the purification of hydrogen and natural gas. Additionally, these filters facilitate large-scale carbon capture, significantly transforming traditional chemical separation processes. By reducing energy consumption and carbon emissions in industrial operations, Osmoses provides a solution that helps businesses lower costs, minimize product loss, and create value for their clients, contributing to broader efforts in combating climate change.

Fourier

Grant in 2023
Fourier is a thermal management solutions ranging from high power density electronics to renewable energy to space applications.

Loop CO2

Grant in 2023
Loop CO2 is a company focused on developing innovative technology that transforms carbon dioxide into essential products, contributing to a sustainable future. By converting CO2 into items such as cosmetic oils, adhesives, and thermoplastic elastomers, Loop CO2 enables its customers to minimize their environmental impact through the use of eco-friendly alternatives. The company's solutions aim to address climate challenges while promoting the utilization of carbon emissions in a productive manner.

Electrified Thermal Solutions

Grant in 2023
Electrified Thermal Solutions is a company focused on decarbonizing industrial processes by replacing fossil fuels with renewable heat. Founded in 2021 and based in Medford, Massachusetts, the company originated from research conducted at MIT's Department of Nuclear Science and Engineering. Its innovative approach involves developing energy storage technology that converts intermittent renewable electricity into constant heat using low-cost conductive ceramic blocks. This technology enables various industrial sectors to utilize zero-carbon heat, contributing to a significant reduction in energy consumption's carbon footprint. Through its efforts, Electrified Thermal Solutions aims to facilitate an energy revolution that promotes sustainability in industrial applications.

AeroShield

Grant in 2023
AeroShield specializes in the production of a super-insulating, nanoporous glass material designed for energy-efficient windows. This innovative material, made from silica aerogel, provides optical clarity akin to traditional glass while delivering insulation performance that is 50% superior to standard windows. By integrating AeroShield's technology between two glass panes, manufacturers can significantly enhance the thermal efficiency of their products. Additionally, the payback period for AeroShield-enhanced windows is up to five times faster than that of comparable high-performance windows, making it an attractive option for both manufacturers and consumers. This focus on sustainability and energy efficiency supports industry compliance goals and improves overall product performance.

Eden

Seed Round in 2023
Eden is focused on developing a sustainable platform for natural resource recovery, aiming to create a carbon-neutral future. The company has introduced a novel method known as Pulsed Electrical Well Stimulation (PEWS), which is a patent-pending technology designed to replace traditional hydraulic fracturing. This innovative approach eliminates the need for water injection and addresses the logistical challenges and environmental risks associated with conventional fracking methods. By utilizing high-voltage electricity and proprietary modeling techniques, Eden enhances rock permeability with precision, facilitating effective resource extraction across various geological settings. This technology not only reduces costs but also minimizes the negative impacts typically associated with hydraulic fracturing, positioning Eden as a leader in environmentally responsible resource recovery.

florrent

Grant in 2023
Florrent is a bio-based materials and energy storage company focused on addressing key challenges in global decarbonization and the electrification of transportation and buildings. It specializes in the development of energy-density ultracapacitors made from sustainable hemp biomass sourced from a network of BIPOC farmers. These ultracapacitors enhance the stability of electrical grids and facilitate the integration of renewable energy sources, electric vehicles, and net-zero buildings. By enabling communities to locally generate, store, and utilize renewable power, Florrent contributes to the transition towards a resilient, renewable, and equitable energy economy.

Carbix Technologies

Grant in 2022
Carbix is a company focused on converting atmospheric carbon dioxide into carbonates, which serve as raw materials for various industrial products. Utilizing innovative bioreactor technology, Carbix captures CO2 from industrial flue gas and rapidly transforms it, along with mineral inputs, into usable raw materials within hours. The company employs advanced weathering techniques powered by renewable energy or energy-from-waste, enhancing the sequestration of CO2 emissions. This process not only helps mitigate climate change by reducing atmospheric carbon but also enables businesses to source industrial materials sustainably.

Aloft Systems

Grant in 2022
Aloft Systems specializes in maritime transportation by developing innovative wind propulsion technology aimed at enhancing the efficiency of existing vessels. The company focuses on creating self-contained wind propulsion units that can be integrated into ships, allowing for autonomous operation. This technology significantly reduces emissions and eliminates fuel costs, making it accessible for a wide range of vessels. By enabling shipping companies to utilize direct wind propulsion, Aloft Systems enhances cargo transportation on point-to-point routes, thereby improving delivery reliability and contributing to a more sustainable maritime industry.

Arrakis Materials

Grant in 2022
Arrakis Materials converts CO₂ into carbon-negative minerals, enabling carbon storage and utilization.

AeroShield

Grant in 2022
AeroShield specializes in the production of a super-insulating, nanoporous glass material designed for energy-efficient windows. This innovative material, made from silica aerogel, provides optical clarity akin to traditional glass while delivering insulation performance that is 50% superior to standard windows. By integrating AeroShield's technology between two glass panes, manufacturers can significantly enhance the thermal efficiency of their products. Additionally, the payback period for AeroShield-enhanced windows is up to five times faster than that of comparable high-performance windows, making it an attractive option for both manufacturers and consumers. This focus on sustainability and energy efficiency supports industry compliance goals and improves overall product performance.

AeroShield

Seed Round in 2022
AeroShield specializes in the production of a super-insulating, nanoporous glass material designed for energy-efficient windows. This innovative material, made from silica aerogel, provides optical clarity akin to traditional glass while delivering insulation performance that is 50% superior to standard windows. By integrating AeroShield's technology between two glass panes, manufacturers can significantly enhance the thermal efficiency of their products. Additionally, the payback period for AeroShield-enhanced windows is up to five times faster than that of comparable high-performance windows, making it an attractive option for both manufacturers and consumers. This focus on sustainability and energy efficiency supports industry compliance goals and improves overall product performance.

Eden

Grant in 2022
Eden is focused on developing a sustainable platform for natural resource recovery, aiming to create a carbon-neutral future. The company has introduced a novel method known as Pulsed Electrical Well Stimulation (PEWS), which is a patent-pending technology designed to replace traditional hydraulic fracturing. This innovative approach eliminates the need for water injection and addresses the logistical challenges and environmental risks associated with conventional fracking methods. By utilizing high-voltage electricity and proprietary modeling techniques, Eden enhances rock permeability with precision, facilitating effective resource extraction across various geological settings. This technology not only reduces costs but also minimizes the negative impacts typically associated with hydraulic fracturing, positioning Eden as a leader in environmentally responsible resource recovery.

Volta Energy

Grant in 2022
Volta Energy developing technology to decarbonize energy generation.

Zero Homes

Grant in 2022
Zero Homes operates a home electrification marketplace that simplifies the process for homeowners seeking to transition to all-electric living. The platform offers a user-friendly environment where homeowners can plan, purchase, and schedule electrification projects without the need for in-home visits. Through virtual home energy assessments, Zero provides tailored decarbonization roadmaps and scoped, priced projects, allowing homeowners to receive customized guidance and assistance. This approach not only enhances home comfort but also aims to eliminate emissions, making retrofitting more accessible and efficient for homeowners.

Silartek

Grant in 2022
SilarTek, founded in 2020 and based in Leominster, Massachusetts, focuses on developing innovative solar silicon technology to enhance the affordability of solar panels. The company employs molten salt electrolysis combined with advanced molten salt compositions to produce low-cost solar-grade silicon. This technology aims to make solar energy more accessible to a broader consumer base, facilitating the adoption of renewable energy solutions.

Adden Energy

Seed Round in 2022
Adden Energy is a company focused on the development of lithium-metal, solid-state batteries that offer significant advantages for electric vehicles. Their innovative technology is capable of achieving charge times as short as three minutes and maintaining capacity for over 10,000 cycles in lab-scale cells. By advancing solid-state battery technology, Adden Energy aims to facilitate the widespread adoption of electric vehicles globally, thereby playing a crucial role in promoting a cleaner and more sustainable future.

GenH

Grant in 2021
GenH is a Boston-based company established in 2017 that specializes in advanced hydroelectric technology. The firm focuses on developing resilient hydropower systems that can be deployed in urban environments. By offering a modular hydropower solution, GenH aims to optimize and streamline energy generation processes at non-powered dams and canal heads. This innovative approach allows for the electrification of these sites without the need for significant construction or investment in fixed infrastructure. As a result, clients can achieve economic parity with traditional fossil fuel systems, facilitating a transition towards more sustainable energy sources.

Powerhouse

Grant in 2021
PowerHouse is a company dedicated to combating climate change by providing innovative solar energy solutions. It specializes in developing a solar energy system that overcomes the limitations of traditional deployment methods, offering versatile and aesthetically pleasing options for residential, commercial, and off-grid applications. The company's platform aims to expand the reach of renewable energy, making it more accessible and desirable for clients.

Bootbox Labs

Grant in 2021
Bootbox Labs is a manufacturing company that provides refrigerant-free and climate-neutral heat pumps for the HVAC industry.

Transaera

Grant in 2021
Transaera specializes in the development of energy-efficient cooling systems aimed at minimizing energy consumption and greenhouse gas emissions. The company employs an innovative desiccant material that effectively removes moisture from the air prior to the cooling process, enhancing indoor comfort. Its solutions are designed for both residential and commercial applications, providing affordable and environmentally friendly cooling options that improve indoor climate control. By reducing the energy demands typically associated with conventional air conditioning units, Transaera's technologies support greater productivity while also alleviating strain on local grid infrastructure and contributing to a more sustainable global climate.

Ascend Elements

Series B in 2021
Ascend Elements is a manufacturer of advanced battery materials, specializing in the reclamation of valuable elements from spent lithium-ion batteries. The company employs hydroprocess recycling and direct recycling techniques to deconstruct old cathode materials to the atomic level, allowing for the creation of new cathode materials. This innovative approach not only facilitates the recycling of battery components but also supports clients in maximizing their returns on investments, promoting the economic viability of recycling and the production of low-cost battery materials.

Castalune

Grant in 2020
Castalune is a predictive software prototype for distributed renewable energy resource optimization.

FLxDER

Grant in 2020
FLxDER creates a prototype of its cloud-based software to optimize electric fleet vehicle charging so as to reduce electric grid impacts and costs, and coordinate operation with other distributed energy resources.

Lydian

Grant in 2020
Lydian aims to accelerate the decarbonization of the chemical industry by electrifying the chemical production process. Founded in 2021 by Branko Zugic, Lydian is headquartered in

Ithaca Clean Energy

Grant in 2020
Ithaca Clean Energy develops a renewable energy platform that leverages artificial intelligence-driven data analytics to enhance the efficiency of energy generation. The company's technology facilitates greater connectivity and interaction among stakeholders in the energy sector, including investors, developers, and operators. By providing insights and analytics, Ithaca aims to support these parties in making better-informed and optimized decisions regarding energy investments and operations.

SYSO Technologies

Grant in 2020
SYSO Technologies specializes in renewable energy and storage management technology and services. The company has developed a cloud-based platform aimed at enhancing the performance of renewable energy assets. By integrating artificial intelligence with a product-agnostic server, the platform enables asset owners to transform passive renewable generators, such as photovoltaics and wind power, into active energy producers. This approach allows asset owners to maximize the value of their investments by increasing revenue, reducing operational costs, and improving the reliability of their energy systems. SYSO Technologies focuses on providing comprehensive solutions that support the effective management of renewable energy and storage assets.

Sol Clarity

Grant in 2020
Sol Clarity is engaged in the development and production of self-cleaning solar technologies. The company specializes in transparent Electrodynamic Screens (EDS), which serve as overlays for solar panels. These screens utilize a unique technology that generates a traveling electric wave to charge and displace dust particles from the panel's surface, effectively preventing dust accumulation. This innovative solution enhances the energy yield and output power of solar panels without the need for water, manual labor, or moving parts. Sol Clarity's approach not only improves the efficiency of solar energy systems but also addresses the challenges associated with maintaining cleanliness in solar installations.

MSW Power

Grant in 2020
MSW Power Corporation, founded in 2012 and based in Acton, Massachusetts, specializes in waste management solutions. The company develops innovative systems designed to convert various types of waste, including paper, wood, plastic, agricultural waste, and food, into electricity and heat through its BWEC GEM integrated system. Additionally, MSW Power offers the HydroPactor, which effectively reduces the weight of waste by extracting moisture, and a solid waste destruction system that utilizes mechanical and thermal processes to eliminate moisture from solid waste. The company's focus is on providing environmentally sustainable and economically viable solutions for energy and waste disposal needs.

Transaera

Grant in 2018
Transaera specializes in the development of energy-efficient cooling systems aimed at minimizing energy consumption and greenhouse gas emissions. The company employs an innovative desiccant material that effectively removes moisture from the air prior to the cooling process, enhancing indoor comfort. Its solutions are designed for both residential and commercial applications, providing affordable and environmentally friendly cooling options that improve indoor climate control. By reducing the energy demands typically associated with conventional air conditioning units, Transaera's technologies support greater productivity while also alleviating strain on local grid infrastructure and contributing to a more sustainable global climate.

Dynamo Micropower

Grant in 2018
Dynamo Micropower Corporation specializes in developing fuel-flexible gas turbines tailored for small distributed generation applications, primarily in the oil and gas sector. Founded in 2011 and based in Somerville, Massachusetts, the company offers innovative products such as PowerCore, designed for continuous operation in challenging environments, and Infernocore, a flameless turboheater. Dynamo's solutions are engineered to operate using local unrefined gas, significantly reducing energy costs by up to 80% while enhancing power quality by up to 25%, thereby improving the performance of equipment. The company provides a fully packaged, plug-and-play power solution that utilizes flare gas to deliver grid-quality electricity. Dynamo Micropower markets its products through a network of distributors and supports them with a network of service partners. The company has successfully deployed its turbines with notable clients, including Kinder Morgan and Caterpillar.

Ascend Elements

Grant in 2018
Ascend Elements is a manufacturer of advanced battery materials, specializing in the reclamation of valuable elements from spent lithium-ion batteries. The company employs hydroprocess recycling and direct recycling techniques to deconstruct old cathode materials to the atomic level, allowing for the creation of new cathode materials. This innovative approach not only facilitates the recycling of battery components but also supports clients in maximizing their returns on investments, promoting the economic viability of recycling and the production of low-cost battery materials.

Medley Thermal

Grant in 2018
Medley Thermal specializes in the development of software and systems designed to optimize the management of energy sources for steam supply. The company focuses on creating thermal electric systems that incorporate an electric boiler alongside existing boiler systems. By utilizing advanced dispatching software, Medley Thermal's solutions enable seamless fuel switching between boilers, ensuring an uninterrupted supply of steam. This approach not only helps industries reduce reliance on more expensive and emissions-intensive fuels but also facilitates a transition to cleaner steam energy, contributing to lower operational costs and enhanced environmental sustainability.

ZwitterCo

Grant in 2018
ZwitterCo specializes in advanced membrane solutions for the treatment of highly impaired wastewater, focusing on the development of reverse osmosis and nanofiltration technologies. These innovations enable the effective reuse and recycling of water resources by addressing challenges such as fouling and chemical demands. ZwitterCo's membranes are designed to treat historically unfilterable streams, allowing customers to transform waste into a valuable resource. With features such as chlorine tolerance and resistance to irreversible fouling, the company's technology supports steady performance and durability, making wastewater treatment economically viable for industrial applications.

Xilectric

Grant in 2017
Xilectric specializes in the development of energy and environmental technologies, particularly in the field of lithium-ion battery innovation. The company manufactures rechargeable batteries designed to enhance abuse tolerance, enabling them to withstand high voltage, elevated temperatures, and rapid charging. Xilectric also offers a novel class of low-cost rechargeable batteries based on nickel-iron technology, which minimizes electrolyte degradation and ensures reliable performance in extreme weather conditions. This advancement provides electric vehicle manufacturers with durable and dependable battery solutions, addressing the growing demand for efficient energy storage in the automotive sector.

Heila Technologies

Grant in 2016
Heila Technologies develops a platform that connects solar arrays, batteries, and other distributed energy resources (DERs) to create self-managing microgrids. The Heila IQ Platform is a decentralized optimization system that simplifies the integration and operation of these resources, allowing for autonomous management and optimization. This technology transforms various components, such as batteries and solar arrays, into independent intelligent agents capable of self-organization and regulation. Heila Technologies serves a diverse clientele, including utility representatives, developers, energy users, and public officials. Founded in 2017 and based in Somerville, Massachusetts, the company aims to facilitate the commercialization of its platform, providing granular analysis and data-driven recommendations to enhance the resilience and efficiency of energy networks while promoting energy savings and reducing carbon emissions.

MTPV

Grant in 2016
MTPV Power Corporation is a clean energy company based in Austin, Texas, that specializes in Micron-gap ThermalPhotoVoltaics (MTPV) technology. Founded in 2003, the company originated its technology from research at MIT and Draper Laboratory. MTPV Power develops semiconductor chips designed to convert waste heat from various sources into clean energy, primarily electricity. This innovation enables industrial businesses to harness alternative energy sources, thereby enhancing productivity and reducing operational costs. Through its advancements in semiconductor technology, MTPV Power aims to contribute to more sustainable energy solutions in the industrial sector.

Wright Electric

Grant in 2016
Wright Electric Inc. is a manufacturer of commercial electric airplanes, focusing on reducing costs and emissions in the aviation industry. Established in 2016 and headquartered in Los Angeles, California, the company utilizes innovative propulsion technology to produce aircraft that eliminate emissions without requiring offsets. This advancement not only promotes zero-emissions flight but also aims to make the operational costs comparable to those of traditional fossil-fueled fleets, thereby facilitating the transition to a more sustainable aerospace sector. Wright Electric is positioned to play a significant role in the electrification of aviation, marking a transformative shift in the industry.

Cambrian Innovation

Grant in 2016
Cambrian Innovation Inc. is a company that specializes in manufacturing advanced wastewater treatment systems. The firm offers innovative technologies, including the EcoVolt Reactor, which utilizes electrically active microbes to recover clean water and energy from wastewater, and the EcoVolt Mini, a compact treatment and water-reuse system designed for smaller facilities. Additionally, Cambrian provides the EcoVolt MBR, a membrane bioreactor that employs membrane filtration and integrated controls to effectively remove contaminants from wastewater, particularly for the food and beverage industries. Founded in 2006 and based in Watertown, Massachusetts, Cambrian Innovation serves various sectors, including food and beverage, textiles, pharmaceuticals, and municipal services. The company’s solutions aim to assist industrial, agricultural, and government customers in reducing costs while enhancing resource management and reuse.

MTPV

Grant in 2016
MTPV Power Corporation is a clean energy company based in Austin, Texas, that specializes in Micron-gap ThermalPhotoVoltaics (MTPV) technology. Founded in 2003, the company originated its technology from research at MIT and Draper Laboratory. MTPV Power develops semiconductor chips designed to convert waste heat from various sources into clean energy, primarily electricity. This innovation enables industrial businesses to harness alternative energy sources, thereby enhancing productivity and reducing operational costs. Through its advancements in semiconductor technology, MTPV Power aims to contribute to more sustainable energy solutions in the industrial sector.

Evaptainers

Grant in 2015
Evaptainers, LLC, founded in 2014 and based in Somerville, Massachusetts, specializes in the manufacture of mobile refrigeration units that operate without electricity. Originating from a project at the Massachusetts Institute of Technology aimed at addressing global challenges, the company has developed modular refrigeration solutions that utilize evaporative cooling. This method allows for low-cost preservation of perishable produce along the agricultural supply chain, significantly extending the shelf-life of fruits and vegetables. By harnessing climate air and evaporation, Evaptainers' systems enable farmers, particularly in developing countries, to maintain the freshness of their products using only natural resources like sun and water. The company has innovated traditional evaporative cooling techniques, employing advanced materials and designs to create durable, user-friendly units that are easy to mass-produce. With patent-pending technologies, Evaptainers stands out in the market as a unique provider of sustainable refrigeration solutions.

Dynamo Micropower

Grant in 2015
Dynamo Micropower Corporation specializes in developing fuel-flexible gas turbines tailored for small distributed generation applications, primarily in the oil and gas sector. Founded in 2011 and based in Somerville, Massachusetts, the company offers innovative products such as PowerCore, designed for continuous operation in challenging environments, and Infernocore, a flameless turboheater. Dynamo's solutions are engineered to operate using local unrefined gas, significantly reducing energy costs by up to 80% while enhancing power quality by up to 25%, thereby improving the performance of equipment. The company provides a fully packaged, plug-and-play power solution that utilizes flare gas to deliver grid-quality electricity. Dynamo Micropower markets its products through a network of distributors and supports them with a network of service partners. The company has successfully deployed its turbines with notable clients, including Kinder Morgan and Caterpillar.

EverVest

Grant in 2014
EverVest specializes in providing financial risk analysis and cash flow modeling software tailored for renewable energy investors. Its web-based platform aids banks, investors, and developers in evaluating and structuring financing for new renewable energy assets. Additionally, the software offers enterprise risk management capabilities that assist portfolio managers in making informed decisions for sustainable growth in the renewable energy market. Through its innovative solutions, EverVest plays a vital role in enhancing the financial decision-making process within the renewable energy sector.

Vecarius

Grant in 2013
Vecarius is an energy efficiency in mass markets with broad societal impact, particularly in markets involving energy-intensive mobile or portable applications. They offer power management systems, thermal management systems, power electronics, advanced heat exchangers, and waste heat recovery.

SachSiSolar

Grant in 2013
SachSiSolar develops technology to reduce the costs of solar panels. The company provides manufacturers with an inexpensive retrofit for their production lines to increase the efficiency of solar panels. The technology will drive down the cost of high-efficiency photovoltaics and enable high-technology manufacturing in Massachusetts.

Takachar

Grant in 2012
Takachar is focused on creating a network of waste management enterprises in Kenya that convert agricultural residues into eco-friendly charcoal, providing an affordable cooking fuel for low-income households. The company has developed low-cost technologies that can be locally manufactured and have been successfully tested in Kenya over the past three years. Since its inception, Takachar has assisted in establishing seven local waste-to-charcoal enterprises, some of which have achieved operational profitability. To date, Takachar has created approximately 100 jobs and sold 50 tons of eco-char. The company aims to demonstrate the long-term financial sustainability of these enterprises, with the intention of developing a franchise network in the future. Additionally, Takachar employs oxygen-lean torrefaction reactors to transform biomass into commercially viable products, helping farmers prevent the open burning of agricultural waste while providing them with opportunities to generate extra income through value-added chemicals.

Solablock

Grant in 2012
SolaBlock offers an innovative solution for integrating solar energy production directly into building structures through its solar-clad masonry and tile wall systems. This technology combines conventional building materials, such as concrete blocks and tiles, with permanent solar photovoltaic elements. These systems are designed to be weather-resistant, theft-proof, and vandal-resistant, making them suitable for both urban and remote locations. By utilizing renewable energy sources, SolaBlock allows building owners to economically benefit from building-integrated photovoltaic panels, enhancing the sustainability and energy efficiency of their properties.

Thermeleon

Grant in 2012
Thermeleon specializes in energy-efficient greenhouse solutions. Their core product is a next-generation screening system that passively cools and heats greenhouses. This system integrates thermal energy storage, absorbing excess heat during the day and releasing it at night, significantly reducing both gas costs and CO2 emissions.

SES

Grant in 2012
SolidEnergy Systems Corp. develops and manufactures rechargeable lithium metal batteries primarily for applications in drones, wearables, smartphones, and electric vehicles. Founded in 2012 and based in Woburn, Massachusetts, the company focuses on producing high-performance lithium metal batteries and supplying essential materials, such as anodes and electrolytes, to major lithium-ion cell manufacturers. These materials can be integrated into existing manufacturing processes, allowing for scalability without significant infrastructure investments. SolidEnergy's pilot-scale production caters to prototype demonstrations and specialized aerospace markets, while its future growth is aimed at mainstream sectors like consumer electronics and electric vehicles. Additionally, the company is involved in developing AI-powered safety algorithms and recycling solutions, positioning itself as an integrated battery manufacturer with a commitment to innovation and sustainability.

Ze-gen

Series B in 2009
Ze-gen is a renewable energy company that utilizes proprietary gasification technology with ordinary waste streams to generate clean, sustainable, low-cost synthesis gas for multiple applications. Founded in 2004, Ze-gen has used innovative science, processes, a team, and industrial support in order to organize a group that believes that there is a possibility to efficiently repurpose the carbon content found in everyday waste and use it in various forms of renewable energy.

Thermoenergy

Venture Round in 2007
ThermoEnergy Corporation, founded in 1988 and headquartered in Worcester, Massachusetts, focuses on the commercialization of innovative wastewater treatment systems and carbon-reducing power generation technologies. The company utilizes its Controlled Atmosphere Separation Technology (CAST) platform to offer a range of solutions, including systems for treating brackish and natural water sources, recovering wastewater for reuse, and ensuring compliance with regulatory mandates. Key products include Turbo CAST, a heat recuperation technology, and Mobile CAST, a self-contained wastewater processing system. Additionally, ThermoEnergy develops processes for ammonia recovery, renewable energy generation from waste-activated sludge, and enhanced biogas production from animal waste. The company is also known for its patented pressurized oxycombustion technology, which enables the conversion of fossil fuels and biomass into electricity while minimizing air emissions and capturing carbon dioxide. ThermoEnergy serves various industries, including metal finishing, petrochemical, food processing, and municipal wastewater applications, positioning itself as a leader in sustainable water treatment and clean energy solutions.

Ze-gen

Series A in 2007
Ze-gen is a renewable energy company that utilizes proprietary gasification technology with ordinary waste streams to generate clean, sustainable, low-cost synthesis gas for multiple applications. Founded in 2004, Ze-gen has used innovative science, processes, a team, and industrial support in order to organize a group that believes that there is a possibility to efficiently repurpose the carbon content found in everyday waste and use it in various forms of renewable energy.

Ze-gen

Series A in 2006
Ze-gen is a renewable energy company that utilizes proprietary gasification technology with ordinary waste streams to generate clean, sustainable, low-cost synthesis gas for multiple applications. Founded in 2004, Ze-gen has used innovative science, processes, a team, and industrial support in order to organize a group that believes that there is a possibility to efficiently repurpose the carbon content found in everyday waste and use it in various forms of renewable energy.

TerraTherm

Venture Round in 2001
TerraTherm, Inc. specializes in the development and implementation of in situ thermal remediation technologies to address organic contaminants in subsurface environments. Founded in 2000 and headquartered in Gardner, Massachusetts, the company provides a comprehensive suite of services that includes advising, designing, building, and operating thermal remediation projects from initial concept to project closure. TerraTherm's expertise encompasses technology selection, feasibility studies, treatability assessments, and system enhancements, aimed at effectively removing toxins such as fuel oils, creosote, PCBs, and solvents. The company serves a diverse clientele, including engineering firms, government agencies, corporations, and property owners across Europe, Asia, North America, and South America. TerraTherm also maintains additional offices and sales representation in various locations, including Massachusetts, California, Colorado, Georgia, Denmark, Japan, and the United Kingdom. As of August 2015, TerraTherm operates as a subsidiary of Cascade Drilling LP.
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