Found Energy transforms aluminum waste into a renewable energy source, specifically targeting industries like shipping and transportation that rely on fossil fuels. The company provides modular Fuel Packs that generate clean hydrogen for vessels. These Fuel Packs use low-quality aluminum scrap as input, and once spent, they are returned to Found Energy for restocking. This model allows shipping companies and port operators to reduce their carbon footprint while utilizing existing port infrastructure for installation and maintenance. Found Energy differentiates itself by offering a cost-effective solution that competes with fossil fuels in terms of price and energy density. The goal is to facilitate the clean energy transition and support industries in decarbonizing their operations.

Glenfield Capital

Global Innovation Technology Ventures

J-Impact

Massachusetts Clean Energy Center

Autodesk Foundation

Munich Re Ventures

KOMPAS VC

Good Growth Capital

Automotive & Transportation

Energy

Found Energy

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

Elemental Impact Injects $18.6M Into Climate Technologies Creating Jobs And Local Economic Impact

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.

Found Energy raises $14.6M in funding

Munich Re Ventures participated in the round.

Found Energy raises $12 million

Transforms aluminum waste into hydrogen fuel

Found Energy

Transforms aluminum waste into hydrogen fuel

Found Energy

Transforms aluminum waste into hydrogen fuel

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