MetOx International has received an investment from Elemental Impact to expand its high-temperature superconducting (HTS) technology production in Houston, Texas. This funding will enhance the deployment of MetOx's Xeus™ HTS wire, crucial for power delivery and energy infrastructure. Elemental Impact, a non-profit investor with 15 years of experience, supports over 160 companies and has received $100 million from the EPA's Greenhouse Gas Reduction Fund to advance climate technology.

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

MetOx International, Inc. has closed its Series B funding round, securing an additional $15 million from a group of investors, including Duquesne Family Office and John Doerr's Family Office.