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About Airloom Energy
Industries
Energy
Company Size
11-50
Company Stage
Early VC
Total Funding
$31.2M
Headquarters
Laramie, Wyoming
Founded
2014
Overview
Airloom Energy is focused on creating a new method for generating wind power. The company is building its first large-scale pilot project in Wyoming, which will use a different type of turbine design compared to the standard horizontal-axis turbines commonly used today. This new design is part of a modular and scalable system that aims to produce electricity at a significantly lower cost, potentially reducing production expenses by up to one-third compared to traditional wind farms. This cost efficiency is particularly appealing to utility companies. The modular approach also allows for easier transportation and assembly, which could enable the development of wind energy in more locations. Airloom Energy has gained support from prominent investors in the technology and climate sectors, including Bill Gates, highlighting its potential to change the renewable energy landscape.
Simplify's Take
What believers are saying
- Airloom has secured significant funding from investors like Bill Gates.
- The company won a U.S. Air Force contract for its wind generating system.
- Airloom's technology could produce electricity at $13 per megawatt hour, over 50% cheaper.
What critics are saying
- Scaling the unique turbine design may face technological challenges and delays.
- The novel design could encounter unforeseen regulatory hurdles and compliance issues.
- Fluctuations in material costs could affect the cost-effectiveness of the modular design.
What makes Airloom Energy unique
- Airloom Energy's turbine design differs from conventional horizontal-axis turbines.
- The company focuses on a modular and scalable wind power system.
- Airloom aims to cut production costs by a third compared to traditional installations.
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Funding
Total Funding
$31.2M
Above
Industry Average
Funded Over
3 Rounds
Growth & Insights and Company News
6 month growth
↑ 6%1 year growth
↑ 21%2 year growth
↑ 41%Laramie's Airloom Energy wins Air Force contract for wind generating system.
Airloom has now raked in almost $14m in fresh funding to support the project from investors including Breakthrough Energy Ventures, the innovation vehicle led by Microsoft founder Gates, and the state of Wyoming.
Airloom Energy has raised USD 7.5 million in a seed financing round led by Lowercarbon Capital with participation from Bill Gates' Breakthrough Energy Ventures, WYVC, Crosscut Ventures, WovenEarth Ventures, Adiuvans and the Kutnick Family Office.
LARAMIE, Wyo., Oct. 08, 2024 (GLOBE NEWSWIRE) -- Airloom Energy, the company unlocking the next generation and full potential of wind power, has secured $7.5 million in financing led by Lowercarbon Capital with participation from Breakthrough Energy Ventures, WYVC, Crosscut Ventures, WovenEarth Ventures, Adiuvans, and the Kutnick Family Office to support its vision of revolutionizing wind energy generation. The company also secured $5 million in Energy Matching Funds from the State of Wyoming and a $1.25M non-dilutive contract from the U.S. Department of Defense. The new funding will support the development of a pilot in Wyoming to prove out power production and system efficiency, while demonstrating that Airloom can build wind for one-third the cost of conventional horizontal-axis turbines. The company will break ground on the project in the summer of 2025
Now, AirLoom Energy is raising $12.7 million in fresh funding, TechCrunch has learned.
Airloom Energy is Hiring for 4 Jobs on Simplify!
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About Airloom Energy
Industries
Energy
Company Size
11-50
Company Stage
Early VC
Total Funding
$31.2M
Headquarters
Laramie, Wyoming
Founded
2014
Airloom Energy is Hiring for 4 Jobs on Simplify!
Find jobs on Simplify and start your career today