Found Energy

Found Energy

Produces hydrogen fuel from aluminum waste

Overview

Found Energy converts aluminum waste into hydrogen fuel using modular Fuel Packs installed on vessels. The packs generate clean hydrogen to power ships, and spent packs are sent back to Found Energy facilities to be restocked with aluminum waste for reuse. The company earns revenue by selling and servicing these Fuel Packs at leading ports worldwide, leveraging existing port infrastructure for installation and maintenance. Its approach differentiates itself by turning low-quality aluminum scrap into the energy supply and by offering a portable, serviceable hydrogen solution that integrates with port operations, aiming to provide a cost-effective alternative to fossil fuels in shipping and transportation. The goal is to accelerate the decarbonization of heavy industries by delivering a renewable, ship-ready energy source with scalable delivery through port networks.

Significant Headcount Growth

About Found Energy

Simplify's Rating
Why Found Energy is rated
C-
Rated C on Competitive Edge
Rated C on Growth Potential
Rated D+ on Differentiation

Industries

Automotive & Transportation

Industrial & Manufacturing

Energy

Company Size

1-10

Company Stage

Seed

Total Funding

$12M

Headquarters

Boston, Massachusetts

Founded

2022

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Simplify's Take

What believers are saying

  • Found raised $14.6 million by May 23, 2026, extending runway for pilots.
  • Found opened Cambridge headquarters on August 7, 2026, adding metals-process capacity.
  • Found's DOE-selected gallium program targets extraction from Bayer liquor at Atalco's Gramercy facility.

What critics are saying

  • Fuel packs still need cheap scrap, return logistics, and customer acceptance before revenue.
  • Found's split into Energy and Metals risks management dilution and capital allocation mistakes.
  • If pilots slip, Found becomes a grant-funded science project, not a fuel company.

What makes Found Energy unique

  • Found Energy turns aluminum waste into on-demand hydrogen without liquid-hydrogen cryogenic storage.
  • Its 100-kilowatt Charlestown demonstrator already runs, while megawatt orders are pending.
  • DOE TRACE-Ga support and ARES collaboration expand Found into critical-metals recovery.

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Funding

Total Funding

$12M

Above

Industry Average

Funded Over

1 Rounds

Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.
Seed Funding Comparison
Above Average

Industry standards

$3.3M
$2M
Netflix
$2.3M
Instacart
$3M
Robinhood
$12M
Found Energy

Benefits

Health & dental

20 days PTO, 11 holidays, & unlimited sick days

3+ months parental leave

stock options

professional development budget

Company News

PR Newswire
Aug 7th, 2026
Found Industries opens Cambridge HQ to scale domestic gallium refining technology

Found Industries, an MIT spinout, has opened its new headquarters and Found Metals Process Development Center in Cambridge, Massachusetts. The facility will advance the company's work on recovering critical minerals, including gallium, from industrial waste streams. The company initially focused on energy technology through Found Energy, developing processes to activate aluminium for hydrogen generation. Found Metals was established to address supply chain vulnerabilities for materials used in semiconductors, defence systems and advanced manufacturing. Found is developing domestic gallium refining processes through the US Department of Energy's TRACE-Ga programme. The company also receives support from the Department of Defense and Massachusetts Clean Energy Center, alongside private investment. The process development centre will help Found scale laboratory technologies to industrial systems, working with existing industrial feedstocks and partners. Found maintains a Boston presence for its energy projects whilst expanding its metals processing capabilities.

Express-Press-Release.net
Jul 27th, 2026
PLC Construction powers Found Energy's aluminum-fuel reactor pilot.

PLC Construction powers Found Energy's aluminum-fuel reactor pilot. LIBERTY, Texas, 2026-07-27 - /EPR Network/ - PLC Construction, a full-service engineering, procurement and construction (EPC) company, today announced the successful delivery of the automation, controls and electrical systems behind Found Energy's Corvo project, an aluminum-water reactor pilot in Charlestown, Massachusetts that produces clean hydrogen and thermal energy with zero point-source emissions. The engagement showcases PLC's Pilot to Production service, which turns first-of-their-kind concepts into working, scalable systems. Found Energy's Corvo platform releases the energy stored in aluminum by reacting it with water, an approach that could help power the roughly 30% of industrial energy demand that is difficult or uneconomic to electrify. As the pilot's automation and electrical partner, PLC translated an evolving, research-driven process into a flexible control system built to adapt as testing advanced. The April 2025 - August 2025 pilot demanded a single, unified control architecture capable of coordinating VFD-driven motors, EtherCAT-controlled servo motors, valves, sensors and instrumentation under one deterministic platform. A central challenge was the aluminum fuel-feed mechanism, which required precise 12-degree indexing and configurable metering followed by a timed transfer via a mechanical arm. PLC selected a Beckhoff PLC with EtherCAT integration to coordinate high-precision motion alongside conventional I/O, and developed Ignition-based touchscreen HMI screens for startup, operation, monitoring and troubleshooting. Working in close coordination with Found Energy, PLC executed PLC and EtherCAT configuration, automation logic, electrical and control-panel design, field-device integration, HMI deployment and commissioning support - delivering a fully test-ready system on an accelerated schedule while preserving the flexibility to support future process changes and scale-up. "Corvo is exactly the kind of project our Pilot to Production team was built for," said Dan Eaves, Director of Engineering Services at PLC Construction. "Found Energy brought us a bold, unproven process, and our job was to deliver a control system flexible enough to evolve with their research while keeping operation safe and repeatable. Turning a first-of-its-kind idea into a working pilot is something that differentiates us from other EPCs, and I'm very proud of that." "The team at PLC was great to work with. They were able to get up to speed very quickly on our project and worked closely with us to deliver a very complex electrical and control system in record time," said Angie Ackroyd, Vice President of Engineering at Found Energy. "I have worked with numerous EPCs during my career and I have to say they are one of the best." PLC has helped clients across the oil and gas, renewables and municipal, and water treatment sectors move novel concepts from early-stage ideas to fully functioning pilot systems. The Corvo project adds a clean-energy milestone to that track record. About PLC Construction PLC Construction Inc. is a full-service engineering, procurement and construction (EPC) company serving the oil and gas, renewables and municipal, and water treatment sectors. With offices in Liberty and Kermit, Texas, and Westminster, Colorado, PLC delivers engineering, construction, design, fabrication, automation and control systems, SCADA, commissioning, relief system and flare studies, and field services. Its Pilot to Production service helps innovators move bold ideas from concept to production-ready operations. Learn more at plcconstruction.com. About Found Energy Found Energy develops catalyzed aluminum-water reactor systems that convert aluminum fuel and water into dispatchable thermal energy and hydrogen, delivering reliable, behind-the-meter heat and power that help decarbonize hard-to-abate industrial processes. Learn more at found-industries.com. Media Contact Christina Schappacher Director of Business Development & Growth, PLC Construction 4997 TX-146 Liberty TX 77575 Matched content.

PR Newswire
Dec 11th, 2024
Elemental Impact Injects $18.6M Into Climate Technologies Creating Jobs And Local Economic Impact

Non-profit's strategic investment tackles the funding gap between climate innovation and widespread adoption.HONOLULU and SAN FRANCISCO, Dec. 11, 2024 /PRNewswire/ -- Elemental Impact , a leading non-profit technology investor, announced today $18.6 million in investments across 16 companies deploying projects in Texas, Nevada, Oklahoma, Colorado, Tennessee, and international markets.This announcement is part of the non-profit's larger investing strategy that includes initial investments to build a pipeline of critical climate companies and projects, follow-on funding to promising projects with local impact, and the newly announced Greenhouse Gas Reduction Fund (GGRF) program for later-stage commercialized technologies, for which investments are expected to be announced in the new year.These investments represent one of the many ways Elemental continues to tackle the $150B "Scale Gap," a critical challenge and funding shortfall climate companies face during first-of-a-kind (FOAK) and early commercial deployments. While these technologies have proven their potential, this funding gap often results in a lack of necessary capital to scale up these innovations, creating a barrier to the widespread adoption."We are seeing extraordinary demand for capital from entrepreneurs who are ready to scale, but who face a critical funding gap," said Dawn Lippert, CEO of Elemental Impact. "These 16 new investments prove that philanthropy can enable projects in rural towns, Tribal lands, urban areas, and wild ecosystems -- and unlock significant private investment."After vetting more than 7,000 companies this year, Elemental selected companies representing four emerging themes: accelerating the next era of U.S. manufacturing, building a resilient supply chain, strengthening rural and tribal access, and scaling a regenerative food system. They will now join a portfolio of more than 160 companies that have created over 10,000 jobs, all working to scale their solutions and create meaningful economic benefits in local communities

The Business Journals
May 24th, 2024
Found Energy raises $14.6M in funding

Found Energy Co., a clean energy startup in Charlestown, raised $14.6 million in equity and other securities, including from the conversion of SAFEs, as per a Form D dated May 23. Last month, it closed a $12 million oversubscribed seed round with participation from MassCEC, Munich Re Ventures, Good Growth Capital, and the Autodesk Foundation. The company, founded in 2022 by Peter Godart and Gadi Ruschin, has developed a method to extract energy from aluminum waste.

Coverager
Apr 22nd, 2024
Found Energy raises $12 million

Munich Re Ventures participated in the round.

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